Dreier Hails Bipartisan Passage of
Australia Free Trade Agreement

July 14, 2004

WASHINGTON, DC- Congressman David Dreier (R-San Dimas), Chairman of the House Rules Committee, applauded the passage of the Australia Free Trade Agreement (FTA) today and said it would create economic opportunities for Americans and Australians alike. The United States-Australia Free Trade Implementation Act, H.R. 4759, passed the House with overwhelming bipartisan support, 314-109-1.

“This trade agreement presents us with an opportunity to expand and deepen one of our most important bilateral relationships,” Dreier said. “The U.S.-Australia Free Trade Agreement will build upon our long-standing commercial ties by eliminating tariffs, removing non-tariff barriers, and providing better market-opening opportunities for U.S. goods, services, and investment. It is a first rate, state-of-the-art trade agreement that will spur growth and create jobs here at home and in Australia.”

Under the Australia FTA, 99 percent of all U.S. manufactured goods will immediately have duty free access to the Australian market, achieving the largest immediate reduction in tariffs of any U.S. trade agreement. The FTA will prove particularly beneficial to the state of California because of the fact Australia is already a top market for California exports. According to the U.S. Department of Commerce, California’s export shipments of merchandise to Australia totaled $1.9 billion in 2003, the second largest amount among the 50 states. Leading the exports were computer equipment ($271 million), followed by aerospace products ($214 million), pharmaceuticals and medicines ($119 million), navigational, measuring, electromedical, and control instruments ($114 million), and communication equipment ($93 million).

Dreier said that with this agreement in place, the economic opportunities will only continue to grow in both countries. “Huge gains can be expected in terms of market access for services, which is the fastest growing sector in both the U.S. and Australia,” Dreier said. “Thousands of Americans are already employed by Australian service providers here in the U.S. By tearing down trade barriers, this agreement will open up similar opportunities for American companies and investors in Australia. Clearly this agreement is a win-win for producers, consumers, and workers on both sides of the Pacific.”