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Press Statement
Sean McCormack, Spokesman
Washington, DC
July 2, 2007


Extension of the Andean Trade Preference Act

This weekend, the President signed legislation approved by Congress extending the Andean Trade Preference Act (ATPA) as amended by the Andean Trade Promotion and Drug Eradication Act (ATPDEA) (jointly referred to as ATPA/ATPDEA). The Act will continue improving the lives of millions.

The ATPA/ATPDEA is alleviating poverty by creating jobs and economic opportunities for the people of Bolivia, Colombia, Ecuador, and Peru. It also provides sustainable alternatives to drug-crop production and helps to consolidate democracy in the Andean region. The four governments estimate that the program has generated more than 1.9 million jobs for their citizens.

The ATPA/ATPDEA has also strengthened our economic and commercial ties. The United States is the leading source of imports and the leading export market for each of the beneficiary countries. Collectively, the four Andean countries represented a market of approximately $11.6 billion for U.S. exports in 2006 and were home to about $8.2 billion in U.S. foreign direct investment in 2005. The extension of this Act ensures these commercial activities will continue providing jobs for American workers and more affordable products for American consumers.

2007/538


Released on July 2, 2007

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