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Local News / Business

Tuesday, 15 July, 2008 1:51 AM

U.S. Secretary of Commerce Addresses Free Trade, Business Growth at DEC meeting

Photo credit: Jeff Kowalsky

The Honorable Carlos Gutierrez at the Detroit Economic Club on July 14, 2008.

 

DEARBORN, Mich. -- The Detroit Economic Club (DEC) today welcomed the Honorable Carlos Gutierrez, U.S. Secretary of Commerce, at the Dearborn Inn Marriott. Secretary Gutierrez discussed numerous economic factors facing the U.S. economy, including challenges such as oil production and energy diversification, and opportunites such as increasing Free Trade Agreements (FTAs). Secretary Gutierrez called for an FTA with South Korea, citing it as one example that could benefit the U.S. economy in many ways.

“An FTA with Korea would level the playing field, and would provide automotive exporters a competitive advantage in gaining access to the Korean market. There’s a lot of discussion about why we have so much business with China, and why we have so much concentration with China. If that is a concern, one way to deal with that is to have a Free Trade Agreement with China’s neighbor, because we don’t have a Free Trade Agreement with China. So the Korean Free Trade Agreement would be good for business, and would be good for the diversification geographically of our export and import business.”

Secretary Gutierrez said the U.S. economy is based on small buisnesses, and he called for tax decreases and other measures to assist the country's business community in a global market.

“The solution to world competition is not to stop. It’s not to move back. It’s not to isolate ourselves. It’s not to develop protectionist policies. We like to say at the Commerce Department that ironically, protectionism doesn’t protect. The only thing that does is innovation and competition and being better than the next guy and exporting more and opening up new markets – all the things that you know well. So getting trade right means giving our exporters and small businesses and large businesses and farmers more markets and fewer barriers. Getting it wrong means taking a time out, retreating from the global economy, and letting others take the lead.”

The presiding officer for today’s meeting was Ken Whipple, Chairman, CMS Energy Corporation.

The Detroit Economic Club was formed in 1934 as a platform for the discussion and debate of important business, government and social issues. It is known internationally as a top speaking forum for prominent business and government leaders, who address members and their guests at the Club's 35 meetings a season. With more than 3,200 members, the DEC is about vital issues, prominent voices, a commitment to education and inspiring leadership. The Club is proud to have hosted every sitting U.S. President since Richard Nixon and proud to have been ranked among the top speaking platforms for CEOs
.

Source: Detroit Economic Club

 

 

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