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Cornyn: Texas Is The ‘heart Of Trade’ In America
WASHINGTON – Thursday marks the ten-year anniversary of the North American Free Trade Agreement (NAFTA) between the United States, Mexico and Canada. U.S. Sen. John Cornyn, a member of the President’s Export Council, said that although the efforts to increase the benefits of trade continue, exports from the United States to Canada and Mexico grew from $147 billion to more than $260 billion in the past decade. And more important, he said, Texas is well-positioned to benefit from future growth as the “heart of trade in America.”"I strongly believe a vibrant free market that values innovation and competition is one of the greatest foundations of American success,” Cornyn said. “For consumers in all three countries, NAFTA has provided real and tangible benefits. Consumers now have more choices and options, and the elimination of tariffs ensure more variety and competitive prices for Texas consumers.”Texas, more than most states, saw increased benefits under NAFTA. Exports from the state to NAFTA countries more than doubled since 1993, and production of exported goods supported nearly 250,000 jobs in Texas. "Beyond the growth in jobs and exports, NAFTA essentially ensured that Texas would remain the heart of trade in America,” Cornyn said. “Our border with Mexico has become a critical trade avenue for a wide variety of commercial activity, helping to grow jobs on both sides of the border.” Cornyn, who serves in the Senate’s Transportation and Infrastructure subcommittee, also warned that sustaining increased trade and growth will require new and better roads throughout the state. "By providing better transportation infrastructure we can continue to enjoy, not only the benefits that we have experienced so far in terms of trade and increased jobs, but we can expect even more in the next 10 years under NAFTA,” Cornyn said. the Bush administration reached an agreement in mid-December on the U.S.-Central America Free Trade Agreement (CAFTA) between the United States and El Salvador, Guatemala, Honduras and Nicaragua. CAFTA will help to expand free trade in Latin America. It requires ratification by Congress, which reconvenes in January 2004. Sen. Cornyn is a member of the Congressional Oversight Group on Trade which supervises and consults with the U.S. Trade Representative. He also serves on the President’s Export Council.