Page:United States Statutes at Large Volume 103 Part 3.djvu/962

 103 STAT. 3030 PROCLAMATION 5971—MAY 5, 1989 of the Independence of the United States of America the two hundred and thirteenth. j- TV. r GEORGE BUSH Proclamation 5971 of May 5, 1989 M World Trade Week, 1989 . u By the President of the United States of America ' A Proclamation At no other time in U.S. history has international commerce been so important to domestic economic growth. Increased exports mean pros- perity for America. World Trade Week provides an excellent opportu- nity for American business men and women to reaffirm their commit- ment to the pursuit of export markets. Trade figures for the past year indicate that American businesses are moving in the right direction. U.S. export performance during 1988 was responsible for Uie highest growth rate this decade and the largest re- duction in the trade deficit in history. Diuing 1988, U.S. merchandise exports grew 28 percent, reaching record levels ($320 billion). These ex- ports generated 40 percent of real GNP growth during the year and con- tributed to the creation of a near record number of jobs. An improved global economic climate and measurable improvements in the quality of American goods and services contributed to this promising export performance. The favorable market conditions that made our goods and services competitive in 1988 continue to exist in 1989. and U.S. businesses must take full advantage of this situation. American industry can benefit substantially from trade opportunities created by recent events in the world marketplace. For example, when the historic United States- Canada Free-Trade Agreement entered into force on January 1, 1989, it heralded the beginning of a new era in America's economic relations with our largest trading partner. It also created abundant opportunities for U.S. firms to reach the market offered by our 26 million neighbors to the north. The European Community's formation of a single market by the year 1992 has the potential to provide even more trading opportunities for American business. However, U.S. firms need to prepare for 1992 now if they are to realize greater export sales. This Administration is committed to forging a partnership with om: Na- tion's business community to help ensure continued economic prosperi- ty and growth into the 1990's. Trade and U.S. competitiveness are top priorities. I am firmly committed to opening world markets to U.S. ex- ports and promoting our free trade agenda on both multilateral and bi- lateral levels. The United States led in initiating the current roimd of General Agree- ment on Tariffs and Trade (GATT) negotiations, and we shall remain vigilant in our efforts to ensure that the GATT negotiations result in a

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