For Immediate Release: June 24, 2010
Contact: Mary Trupo (202) 482-3809
Obama Administration Trade Official Says Peru, Colombia Relationships Critical
Commerce Department Under Secretary Francisco Sánchez Highlights Economic Integration
BOGOTA, Colombia – Under Secretary of Commerce for International Trade Francisco Sánchez today ended a four-day trade policy trip to Peru and Colombia by reinforcing the critical role exports play in supporting economic growth and job creation in the U.S. and abroad. During his trip, he met with outgoing Colombian President Alvaro Uribe to recognize the positive strides the country has made during his administration.
Throughout his trip, Sánchez met with government and private sector officials in Lima and Bogota to promote U.S. commercial relations. Sánchez highlighted the increasing integration of Western Hemisphere economies in keynote remarks to the Association of American Chambers of Commerce in Latin America Conference (AACCLA), in Lima, on June 21.
“The world is being transformed by the rise of once-dormant nations and a growing middle class, both of which hold promise for significant economic progress,” Sánchez told AACCLA attendees. “To remain competitive, we must integrate our economies in our increasingly global marketplace.”
In discussions with Uribe, Sánchez acknowledged that Uribe’s dedication to the people of Colombia helped the country make impressive gains on the security front and his administration’s sound government policies led to its emergence as one of the strongest economies in the region.
At events in both Lima and Bogota, Sánchez met with American businesses and explained how increasing trade with Peru and Colombia will help achieve the goals of President Obama’s National Export Initiative (NEI), which aims to double U.S. exports and support two million jobs during the next five years. Peru currently has one of the fastest-growing economies in Latin America. U.S. exports to Peru totaled $5 billion in 2009. U.S. merchandise exports to Colombia in 2009 totaled $9.5 billion. Outside of our NAFTA partners, Colombia was the second largest market for U.S. exports in the Western Hemisphere, behind Brazil.
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