Presidential Documents

28353

Federal Register

Vol. 66, No. 99

Tuesday, May 22, 2001

Title 3—

The President

Proclamation 7441 of May 18, 2001

World Trade Week, 2001

By the President of the United States of America

A Proclamation

Trade has an extraordinary impact on our Nation’s economic strength and

can be a powerful force for good in the world. This year’s World Trade

Week, observed in communities across the country, will showcase the value

of trade to all our citizens.

Exports have accounted for almost one-quarter of the United States economic

growth during the past decade. We continue to be the world’s largest exporter

of goods and services. From life-saving medical devices to information technology that allows people to be more productive, American ingenuity is

bringing some of the best and most competitive and innovative products

to the world marketplace.

Across America, our exports support 12 million jobs that pay wages higher

than the national average, and high-tech jobs supported by exports pay

even more. It is no coincidence that the longest period of sustained economic

growth in U.S. history has followed efforts to liberalize trade, such as the

North American Free Trade Agreement and the Uruguay Round Agreement

that established the World Trade Organization. Trade also leads to more

competitive businesses, more choices of goods for consumers, and lower

prices.

Along with economic progress, open trade also helps build democracies

and spreads freedom as it reinforces the spirit of liberty by spurring economic

and legal reforms. When we promote open trade, we promote both economic

and political freedom. Societies that open to commerce will one day open

to liberty.

World Trade Week celebrates trade as an economic and social engine for

progress with a special focus on the services sector—the largest sector in

the private economy, providing more than 85 million jobs. These service

sector jobs involve a wide range of industries, including banking and insurance, travel, entertainment, telecommunications, energy, and environ mental

services. We are proud that the United States is the world’s top producer

and exporter of services, exporting some $300 billion worth a year.

In addition to the significance of exporting services, export of goods continues

to be vitally important to our economic performance. More than 20 percent

of our domestic goods are exported, and for durable goods the figure jumps

to 36 percent. These exports support millions of high-quality U.S. jobs

and play a key role in U.S. economic growth. However, our ability to

sustain or expand this growth will require tapping the trade potential of

the emerging economies in Asia and Latin America, as well as bolstering

our trade agreements with developed economies such as Japan and the

European Union. Strengthening our trade agreements with these countries,

not only opens their economies to U.S. goods and services, but also leads

to higher rates of foreign investment. This investment creates growth, jobs,

and the means to buy the products we export from the United States.

The United States will work for open trade at every opportunity. The executive and legislative branches need to work together to provide the means

28354 Federal Register / Vol. 66, No. 99 / Tuesday, May 22, 2001 / Presidential Documents

to cooperate on trade objectives. The renewal of U.S. trade promotion authority will bolster a partnership between the executive and legislative branches

and will enhance the ability of the United States to negotiate new trade

agreements. We will work for more open trade globally through talks in

the WTO. We will work to create a free trade zone in the Western Hemisphere

by 2005. Our commitment to open trade will be coupled with a commitment

to protect our environment and improve labor standards.

NOW, THEREFORE, I, GEORGE W. BUSH, President of the United States

of America, by virtue of the authority vested in me by the Constitution

and laws of the United States, do hereby proclaim May 20 through May

26, 2001, as World Trade Week. I encourage Americans to observe this

week with events, trade shows, and educational programs that celebrate

the benefits of trade to our economy.

IN WITNESS WHEREOF, I have hereunto set my hand this eighteenth day

of May, in the year of our Lord two thousand one, and of the Independence

of the United States of America the two hundred and twenty-fifth.

Billing code 3195

Filed 05

[FR Doc. 01

–21–

–

01; 10:19 am]

13115

–01–P

W