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US backs new free trade standards
BBC
Friday May 11, 2007
The US Congress has reached agreement with the White House over
new free trade policy guidelines.
The Democratic Party, in control of Congress, said the deal would
ensure labour and environmental issues are a key part of new bilateral
trade deals.
The agreement could smooth the ratification of trade deals with
several Latin American countries.
US officials say failure to ratify the deals could affect the geo-political
stability of the region.
The US Deputy Secretary of State, John Negroponte, is in Latin
America visiting several countries awaiting ratification of free
trade deals with the US.
Under the new policy, countries with free trade deals with the
US will be committed to adopting and enforcing laws that abide by
basic international labour standards.
They will also have to meet internationally-agreed environmental
standards of business practice.
'Strategic' region
The BBC's Dan Collyns, in Lima, the Peruvian capital, said the
agreement between the US Congress and President Bush's administration
will come as a welcome vote of confidence for Peru.
Lima has already agreed to changes in the draft trade treaty with
the US to incorporate the new standards from the US Congress.
Officials in Lima now hope the full deal could be ratified by August.
Colombia and Panama are also in free trade negotiations with the
US.
Mr Negroponte has already been to Colombia and Ecuador and is visiting
Panama on Friday.
"We think that they [the Latin American nations] are really
strategic," he said.
"They are strategic elements not only to our economic relations
but also to our political relations."
His visit is a clear effort to reinforce those relationships and
counter the influence of President Hugo Chavez of Venezuela, says
our correspondent.
US Treasury Secretary Henry Paulson said the agreement between
the White House and Congress was important to the American economy
but also "to the geopolitical stability of the region".
Colombia, however, may find its trade agreement with the US held
up because of alleged government links to right-wing paramilitaries.
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