48 congressmen ask Bush to complete U.S./Australia FTA
A group of 48 congressmen asked President Bush in a letter to conclude a free trade agreement with Australia during his upcoming trip to that country.
The letter, sent to the president Oct. 14, reported more than $57 billion in direct foreign investment between the two countries. However, more than $100 billion of U.S. assets are in Australia and more than $60 billion in Australian assets are in the United States.
“A comprehensive free trade agreement between our two countries would combine more than 304 million consumers in a market of $10.8 trillion annually,” the congressmen said. “It will enhance our already strong manufacturing export trade with Australia.”