| January 31, 2007 | For Immediate Release |
Contact: Bob Vastine John Goyer (202) 289-7460 |
Renewal of the President’s trade promotion authority is “essential if our services companies are to continue their record of export and job creation,” Bob Vastine, President of the Coalition of Service Industries, said today.
“US services trade with the rest of the world has been in surplus at least since the government has kept detailed statistics,” Vastine said. In 2005 the surplus was $66 billon on total exports of $380.6 billion. The US is the world’s largest and most competitive single services exporter.
“There are about 90 million Americans, or about 80% of our workforce, now employed in the services sector,” said Vastine. Virtually all new jobs being created are in services.
“Our services companies’ exports and foreign operations fuel the US economy through job creation at home, foreign sales, and repatriated earnings. Our trade agreements program is absolutely critical because trade agreements remove barriers to our trade and investment and allow our companies to continue to grow,” Vastine said.
Vastine praised the new leaders of the Ways and Means and Finance Committees for their positive approach to trade issues including renewing TPA:
“We are very pleased that key Chairmen and other members are taking such a constructive approach to these trade issues. We need their support for trade liberalizing agreements. We hope that they will be able to extend TPA so that our negotiators can continue their efforts without interruption in the Doha Round and bilateral agreements when current negotiating authority expires in July.”
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