EXPORT-IMPORT BANK CHAIRMAN PROMOTES TRADE LEGISLATION INTRODUCED IN CONGRESS

FROM:  U.S. EXPORT IMPORT BANK
Export-Import Bank Chairman Fred P. Hochberg’s Statement on the Bipartisan Trade Priorities and Accountability Act of 2015

Washington, D.C. – Export-Import Bank Chairman and President Fred P. Hochberg issued the following statement today in reaction to the introduction of the Bipartisan Trade Priorities and Accountability Act of 2015:

“Trade promotion legislation is a critical bipartisan tool that will lead to expanded opportunity for U.S. exporters and the millions of American workers whose jobs depend on trade.  As Ex-Im Bank pursues its mission of empowering U.S. businesses to take on stiff foreign competition and bring more good-paying jobs to our shores—and as more and more American small businesses join the ranks of direct exporters—TPA will ensure that the U.S. continues to have a strong voice in writing the rules of the road where global trade is concerned.  With critical trade agreements such as the Trans-Pacific Partnership on the horizon, TPA will be essential to ensuring that the U.S. continues to compete on a level playing field, and that American workers will be able to seize the opportunities made possible by trade for generations to come.”

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Ninety percent of its transactions directly serve American small businesses.

In fiscal year 2014, Ex-Im Bank approved $20.5 billion in total authorizations. These authorizations supported an estimated $27.5 billion in U.S. export sales, as well as approximately 164,000 American jobs in communities across the country.

1ST LABOR AFFAIRS COUNCIL MEETING UNDER U.S.-PANAMA TRADE PROMOTION AGREEMENT

FROM:  LABOR DEPARTMENT 
US Department of Labor officials attend first Labor Affairs Council meeting 
under US-Panama Trade Promotion Agreement

WASHINGTON — Senior officials from the U.S. Department of Labor and the Office of the U.S. Trade Representative and their Government of Panama counterparts today concluded the first Labor Affairs Council meeting under the U.S.-Panama Trade Promotion Agreement in Panama City, Panama. During the Jan. 27-28 meetings, officials reaffirmed their commitments under the Labor Chapter of the TPA and discussed:

possible areas for future cooperation;
activities to strengthen institutional capacity and labor law enforcement and compliance;

child labor and youth employment; and areas of common interest, such as the use of temporary contracts and processes for union registration.

The council is responsible for overseeing the implementation and review of progress under the Labor Chapter of the TPA. Eric Biel, acting associate deputy undersecretary for international labor affairs at the Labor Department, and Carlos Romero, deputy assistant U.S. Trade Representative, led the U.S. delegation at the meetings, which included a public session with workers, employers, civil society organizations and the general public, attracting a crowd of more than 50 participants. Along with their counterparts from the Ministry of Labor and the Ministry of Commerce and Industry of Panama, U.S. officials issued a joint statement at the conclusion of the meetings.

"A sustained, transparent, inclusive dialogue is crucial to full implementation of the Labor Chapter," said Biel. "To that end, we are pleased that the Government of Panama has demonstrated a clear commitment to continue to work together with us to ensure that respect for labor rights is a meaningful part of this important bilateral agreement."

The joint statement is available at the department's Bureau of International Labor Affairs' in Panama page.

U.S.-PANANMA TRADE PROMOTION AGREEMENT GOES INTO EFFECT

Photo:  Panama Canal.  Credit:  CIA World Factbook
FROM: U.S. STATE DEPARTMENT

U.S.-Panama Trade Promotion Agreement (TPA) Enters Into Force

Press Statement
Hillary Rodham Clinton
Secretary of State
Washington, DC
October 31, 2012

STATEMENT BY SECRETARY CLINTON

U.S.-Panama Trade Promotion Agreement (TPA) Enters Into Force
Today, the U.S.-Panama Trade Promotion Agreement (TPA) enters into force, marking an historic milestone and bringing us closer to our goal of an unbroken network of free trade agreements in the Western Hemisphere. By eliminating tariffs and other barriers, the TPA will significantly liberalize trade in goods and services between our countries, enhancing competitiveness and supporting jobs. It’s an example of the Obama Administration’s commitment to economic statecraft and deepening our economic engagement throughout the world.

Almost all U.S. exports of consumer and industrial products to Panama will now be duty-free with remaining tariffs phased out over ten years. Nearly half of all current trade will receive immediate duty-free treatment with most of the remaining tariffs eliminated within 15 years. This agreement will also preserve duty-free access for Panamanian goods previously granted under trade preference programs and help strengthen the Panamanian economy.

Not only will this reinforce the ties between our economies and create jobs, it secures our strategic partnership with a key partner. I want to thank President Martinelli for his leadership on the entry into force of the TPA and look forward to both countries fully realizing the promise of this agreement.