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United States lauds exports amid record deficit
Wednesday, February 14, 2007 12:20 [IST]
IANS

Washington: Even as arecord trade deficit in 2006 for the fifth consecutive year caused a domesticstorm, US officials praised American companies for making the country the bestin exports, citing Indiaas an example.

"Our booming export numbers show the competitiveness ofAmerican workers and companies. Our companies send more US products to more international markets thanever," US commercesecretary Carlos M. Gutierrez said Tuesday in a statement issued from New Delhi.

"Here in India, for example, we have seenAmerican exports growing rapidly, up 26 percent last year with growth in arange of industries from medical devices to energy. Our nation's prosperity isdependent on engaging and winning in international markets," said the US official on an India visit.


"In 2006, American workers and businesses had a bannerexport year with an all-time record high of over $1.4 trillion in exports ofgoods and services," Gutierrez said, urging the US Congress to supportPresident George Bush's trade agenda as the annual trade numbers were releasedin Washington.


The figures issued by the census bureau said that the tradedeficit, or gap between what the US sells abroad and what it imports, reached anew high of $763.3 billion last year - a 6.5 percent increase over the yearbefore.


The deficit was fuelled by the continuing American need forforeign oil and imports of consumer goods from China and other countries.


But Gutierrez said,"Today's numbers show significantexport growth to almost all of America'skey trading partners. For the first time in nearly a decade, the growth rate ofexports outpaced the growth rate of imports."


"American exports had risen to 29 out of US' 30 largesttrading partners, including export growth of more than 20 percent to countriesas diverse as Germany (21percent), Brazil (25percent), China (32percent), and Chile(30 percent)," he added.


"While these record numbers show tremendous progress, westill need to do more to grow our exports, open new markets, promote US exportsand support the president's trade agenda," Gutierrez said.


"The president's trade agenda, including successfulconclusion of the Doha Round and passage of Free Trade Agreements with Peru,Columbia and Panama, will open markets for American products and enhance ournation's prosperity. This makes theextension of the President's Trade Promotion Authority (expiring June 30) allthe more essential as we move forward,"

he said.


Gutierrez said he was embarking on a mission with twingoals: to win India'ssupport at a 'critical moment for Doha'and to demonstrate its commitment to building bilateral relations, a proclaimed'top priority' of Bush administration.


"In India Gutierrez is having discussions with governmentofficials to explore opportunities to further invigorate commercial relationsbetween the US and India through the mechanisms provided by the US-IndiaCommercial Dialogue, the High Technology Cooperation Group, and the CEO Forum,"the statement issued by his office said.


Meanwhile in Washington,the announcement of trade figures quickly re-ignited the dispute between theBush administration and Democrats over the value of past and future dealslowering trade barriers.


Democrats used the latest trade numbers to demand what housespeaker Nancy Pelosi called a new direction in trade policies, placing moreemphasis on opening foreign markets to American goods, protecting Americanproducts from piracy and counterfeiting and helping the American industrybecome more competitive.


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