May 9, 2003: Bush Proposes US Free Trade Zone for Middle East

President Bush, in a commencement address at the University of South Carolina, says: “Soon, Iraqis from every ethnic group will choose members of an interim authority. The people of Iraq are building a free society from the ground up, and they are able to do so because the dictator and his regime are no more…. Across the globe, free markets and trade have helped defeat poverty, and taught men and women the habits of liberty. So I propose the establishment of a US-Middle East free trade area within a decade, to bring the Middle East into an expanding circle of opportunity, to provide hope for the people who live in that region. We will work with our partners to ensure that small and mid-sized businesses have access to capital, and support efforts in the region to develop central laws on property rights and good business practices. By replacing corruption and self-dealing, with free markets and fair laws, the people of the Middle East will grow in prosperity and freedom.” [US President, 5/12/2003]