FOR IMMEDIATE RELEASE
Tuesday, September 19, 2006

STATEMENT BY U.S. COMMERCE SECRETARY
CARLOS M. GUTIERREZ ON SENATE PASSAGE OF
UNITED STATES-OMAN FREE TRADE AGREEMENT

 

Washington, DC - Commerce Secretary Carlos M. Gutierrez today released the following statement on the Senate passage of the United States-Oman Free Trade Agreement:

"I am pleased the Senate today passed the House version of the United States-Oman Free Trade Agreement (FTA). I want to thank Majority Leader Frist, Chairman Grassley, and Senator Baucus for their leadership on passing this bipartisan bill.

"This bill embraces the President's plan of developing economic growth and democracy in the Middle East. The Oman FTA is a key part of this Administration's regional and global efforts to opening markets for American companies around the world.

"The Oman FTA will generate new opportunities for U.S. farmers, ranchers, businesses and service providers. Perhaps more important, this agreement will advance our national security interests by fostering economic growth and strengthening democratic institutions, which are the foundation of hope and opportunity for people throughout the region. It will also strengthen the bonds of friendship in a strategically important part of the world."

Background: Oman is the fifth country in the Middle East and North Africa to negotiate a free trade agreement with the United States and is an integral component of the President's Middle East Free Trade Area (MEFTA) initiative, which will promote economic growth and opportunity in the Middle East through regional integration. MEFTA would also transform the individual countries of the area into a cohesive market for the United States. The Senate previously approved the Oman FTA on June 29. However, the Senate was required to vote on the identical House-passed legislation again to meet the Constitutional requirement that revenue bills, including trade bills, originate in the House.