Opening Statement of the Hon. Jim Ramstad, a Representative in Congress from the State of Minnesota

Field Hearing in Bloomington, Minnesota, on the
Benefits of Trade to the Medical Technology and Agriculture Sectors

May 14, 2001

I also want to thank each of the witnesses for testifying before us today. In particular, I want to thank Governor Ventura for being here. I'd also like to welcome to each of you here today!

The timing of this hearing couldn't be better. Last Thursday, President Bush released his much-anticipated 2001 agenda for international trade.

President Bush clearly recognizes that the U.S. economy is increasingly international in focus and that expanding international trade is absolutely critical to continued economic growth in this country.

Over 25% of the growth in our economy over the last decade is tied directly to international trade. Some 12 million Americans owe their jobs to exports.

Here in Minnesota expanding trade is especially important. Last year alone, we exported over $17.5 billion in goods and services. This is an increase of over $6 billion -- almost 60% -- in the last decade. Minnesota is the 17^th largest exporting state and the Twin Cities is the 9^th biggest exporting metropolitan area. Over 270,000 jobs in Minnesota manufacturing can be attributed to trade.

The President understands this. As a result, he has made Trade Promotion Authority the cornerstone of this trade agenda. It is absolutely essential to the negotiation of trade agreements that will expand our economy.

Regrettably, the U.S. is rapidly falling behind in this area. The U.S. is currently a party to just 2 of the 130 free trade agreements in force around the world. Europe, our main international competitor, continues to negotiate free trade agreements with the rest of the world. Meanwhile, the U.S. remains outside of the process and our interests are not taken into account. In other words, our direct competitors are at the table negotiating agreements while we sit and watch.

Trade is especially important to the medical technology and agriculture sectors of our economy. The United States leads the world in both of these areas and Minnesota farmers and medical device manufacturers are leaders in the U.S. Our medical technology companies are the most advanced and sophisticated in the world and ran a $7 billion surplus last year. Our farmers and agri-businesses are the most efficient in the world - and our state, in fact, is the seventh largest agricultural exporting state in the country.

As we will learn today, opportunities abound for developing and expanding our international trade economy, and Congress has a full agenda to expand trade.

Incorporating South and Central American into NAFTA and creating the Free Trade Area of the Americas would create the largest economic zone in the world. The NAFTA agreement has been an enormous benefit to our country, and we will further benefit by expanding free trade to the rest of the hemisphere. We should also continue to push for bilateral trade agreements with countries like Chile, New Zealand, Australia and Singapore. We should also continue to work with Europe to amicably settle our differences.

There are, however, areas of concern. For example, the medical device industry, which is such a large part of the Minnesota economy, is currently facing difficulties exporting their goods to Japan. Last Friday, I sent a letter to the Administration urging them to work with the medical device industry on the issue and to bring it up in upcoming bilateral discussions with Japan and in other international meetings that will be held over the summer.

I want to sum up by noting that we stand at a crossroads. We can raise walls around our country and limit trade and the opportunities it represents. Or, we can grab the opportunity before us to grow our economy, create jobs and continue to lead the world economically. International trade is a win-win for us and our trading partners. We can grow our economy, promote employment and keep prices low here at home, while promoting democracy and freedom in other countries, too. The choice is clear.

Now, I would it is my great pleasure to introduce Governor Jesse Ventura. I've know the Governor for over 20 years. Today, we will get to hear his views on international trade and the role it plays in the U.S. economy.

I'm pleased to say this isn't the first time I've heard the Governor testify on this issue. Last year, he came before the Ways and Means Committee in Washington and made the case for Permanent Normal Trade Relations with China. The not easily impressed Chairman of the Committee at the time, Bill Archer, was so impressed that he said, "Governor, you just hit a home run." I know that the Governor is going to hit a home run again today. Thanks for being here. We all look forward to what you have to say.

Thanks again, Mr. Chairman, for holding this hearing to Minnesota, especially at this important time, and I look forward to hearing from Governor Ventura and the rest of our witnesses.