Diaz-Balart Supports House Passage of US-Peru Free Trade Agreement

Press Release

Date: Nov. 8, 2007
Location: Washington, DC
Issues: Trade

Diaz-Balart Supports House Passage of US-Peru Free Trade Agreement

November 8th, 2007 - Washington, D.C. - - Congressman Lincoln Diaz-Balart (R-FL) on Wednesday, November 7th, supported passage of the United States-Peru Trade Promotion Agreement Implementation Act (H.R.3688). The bill was approved in the U.S. House of Representatives by a vote of 285 to 182.

"We must be cognizant of the importance of the relationship between the United States and Peru," said Diaz-Balart. "This agreement will benefit both our peoples as it facilitates and encourages the growth of commerce between our countries and the creation of many new jobs in the U.S. and in Peru. This agreement is of great importance in that it solidifies and deepens our relationship with an important democratic neighbor in a region facing a growing threat from international terrorism and political instability fueled by the dictatorships in Venezuela and Cuba," concluded Diaz-Balart.

Currently, almost one fifth of all U.S. -Peru trade moves through Florida and 54% of all U.S. high-tech goods exported to Peru are made in Florida. Experts estimate that implementation of the agreement with Peru will annually boost Florida's total economic output by approximately $143 million, increase earnings of Florida workers by $35 million, and create over 900 new jobs for Floridians.