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WASHINGTON, Sept. 6 (Xinhuanet) -- The United States has accelerated establishment of bilateral free trade relationship with other countries, sealing free trade agreements with nine countries in the first eight months of this year. This is more than the total the country
had signed before.
Meanwhile, the United States is also currently
negotiating freetrade agreements with ten more countries.
The US Trade Representative office hails that the
United Statespursues comprehensive free trade agreements on a bilateral basis to
expand opportunities for American workers, farmers and ranchers.
Opponents to free trade, however, have been accusing
the administration, by pursuing free trade agreements, of losing more Americans'
jobs to developing countries where labor costs are relatively low. That thus has
resulted in the long-standing lackluster of the US job market, they say.
The US job market did not grow as people expected
although the economy had begun recovery since the second quarter of last year.
The government reported last Friday the economy created 144,000 jobs in August
and bumped up its earlier estimates for June and July, yielding a three-month
average of 104,000 new jobs a month. But this was still much lower than the
216,000 jobs a month that President George W. Bush's Council of Economic
Advisers had been expecting.
Democratic presidential nominee John F. Kerry has
also accused President Bush of failing to protect US workers from foreign
competition.
Yet those pressures have not prevented the
administration from negotiating and signing bilateral free trade agreements with
othercountries. Analysts believe that it is a sense of urgency that hasbeen
pushing the United States to speed up its pace.
Since late 1990s, new changes have taken place in the
global trade market. More and more sub-regional and regional free trade
organizations have emerged. And some scholars even declared that the world had
entered an era of regional cooperation.
The Unites States did not keep up with the new trend
at the beginning. Data released by the World Trade Organization showed that up
to 2002, there had been more than 250 free trade arrangements globally. Of them,
however, the United States took part in only three.
What the Bush administration is worried about is that
the country's economic and political interests would be hurt if it kept staying
outside the trend, according to analysts.
The United States says it is working to open market
globally inthe Doha World Trade Organization negotiations; regionally, through
Asian-Pacific Economic Cooperation and the Free Trade Areaof the Americas (FTAA)
negotiations; and bilaterally, with free trade agreements.
In fact, regional trade initiatives are a key part of
the US trade strategy. They include the FTAA, the Enterprise for Association of
Southeast Asian Nations Initiative, the Middle EastFree Trade Initiative, and
the North American Free Trade Agreement(NAFTA). The FTAA, aimed at uniting the
Western Hemisphere in a free trade zone, is the focal point of the US trade
strategy.
The FTAA will be a further extension of the NAFTA,
which a decade ago linked the United States, Canada and Mexico in a free trade
area of 427 million people. The effort to unite the economies of the Americas
into a single free trade area began at the Summit of the Americas, which was
held in December 1994 in Miami, the US.
The heads of state and government of 34 countries in
the regionagreed to establish the FTAA, in which barriers to trade and
investment will be progressively eliminated. They agreed to complete
negotiations on this agreement by the year 2005.
Making progress to the ambitious FTAA, which domestic
supporters say will make the United State more secure, the countryhas completed
free trade negotiations with five countries of Central America and the Dominican
Republic this year. Its negotiations with four more Latin American nations are
underway.
The country is also trying to secure its economic and
politicalinterests in Asia, the Middle East and Africa through establishingfree
trade relationship with countries in those regions. It has completed free trade
agreements with Australia, Morocco and Bahrain this year, and is engaged in
negotiations with Thailand and the five-nation Southern African Customs Union --
Botswana, South Africa, Lesotho, Swaziland and Namibia.
The completed agreements will take effect after
getting Congress approval. The Congress has so far approved agreements with
Australia and Morocco. There is a possibility that the rest will not get
approval until after the November general election. Enditem |