Negroponte urges Congress to approve free trade agreements with Colombia, Panama

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(www.tradingmarkets.com)    Bogota Jun 02, 2008 (Xinhua via COMTEX) -- -- U.S. Deputy Secretary of State John Negroponte Monday urged Congress to approve the free trade agreements with Colombia and Panama, which have been signed by all three countries.

Free trade agreements with Latin American nations are of great significance to trade in the whole American region, Negroponte said at the 38th regular session of the Organization of American States (OAS) General Assembly, which runs from June 1-3 in the Colombian city of Medellin.

Such agreements with Colombia and Panama will not only benefit bilateral trade between the United States and the two countries and expand U.S. export, they also serve as a foundation for a free trade pact in the whole Western Hemisphere, he said.

Negroponte Sunday held talks with Colombian President Alvaro Uribe on the agreement. He restated the support of the U.S. State Department and President George W. Bush for such an agreement with Colombia.

Colombia and Panama signed free trade agreements with the United States in September 2006 and June 2007 respectively. However, the Democratic-dominated U.S. Congress voted against the agreements citing human rights records and other reasons.