Trade is vital to continued growth in Illinois and throughout the U.S. And the U.S. has long been a leading advocate and beneficiary of global trade and investment and we must keep it that way. Globalization is here to stay and it is important that we continue to benefit from it rather than retreat into isolationism.
Illinois is the fifth largest exporter of the fifty states, selling over $42 billion of goods overseas last year. $12 billion of those goods were machinery manufacturing.
Over the past five years, Atlas has grown its exports by 12% on average each year and this year will export $30 million worth of goods.
About 14,000 Illinois companies, almost 90% of them companies that employ fewer than 500 people, exported goods in 2005. That is clear proof that it's not just multinational and Fortune 500 companies that benefit from trade --- the benefits of free trade spread across the economic landscape, and create jobs in companies of every size.
Congress has the opportunity to act quickly to generate even more opportunities for Illinois and U.S. workers --- by approving four Free Trade Agreements. The Peru Agreement will be the first Congress considers – but it shouldn't be the last. Colombia should follow quickly. And then we need to press for Panama and South Korea, too.
Colombian President Uribe has taken tough steps to improve conditions in his country, and he deserves our support. And, as the 8th largest economy in the world, South Korea is a very significant market for U.S. exports.
Far from creating obstacles for economic growth, these trade agreements will level the playing field and provide greater opportunity for Illinois' companies to sell goods to these countries.
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U.S. Department of the Treasury
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