Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, October 21, 1993 TAG: 9310210068
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: RADFORD LENGTH: Short
Rene Arturo Bendana said the trade agreement will cause some U.S. companies to move manufacturing jobs to low-wage countries, but that America would gain work in the marketing and distribution sectors.
"It will be creating more jobs in depressed countries and it will create more jobs here," he said.
Bendana came to Radford to discuss the trade pact at a Radford Chamber of Commerce luncheon, but missed the meeting when his plane was delayed by fog. He spent the afternoon visiting Radford University and touring the plants at New River Industries and Radva Corp.
The ambassador said he hopes the pact will eventually cause more U.S. companies to build factories in Honduras. "There are a lot of countries with cheaper labor than us, but we've got all of the qualifications."
Dozens of companies already are moving operations to Central America to take advantage of low wages even as they have slashed jobs in the United States.
NAFTA would wipe out most tariffs and other barriers to trade among the United States, Mexico and Canada, and would take effect Jan. 1 if approved by a majority of the House and Senate.
"I'm hoping Congress will approve it quickly," Bendana said. There are currently no plans to extend the pact any further south, but the U.S. ambassador said he will lobby for it."
by CNB