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CHEVRON'S DERR CALLS FOR FREE TRADE, NOT PROTECTIONISM

 CHEVRON'S DERR CALLS FOR FREE TRADE, NOT PROTECTIONISM
 SAN FRANCISCO, Sept. 23 /PRNewswire/ -- Cautioning that the true victims of trade barriers are those countries that use them, Chevron Chairman and CEO Ken Derr today advocated free trade as vital to economic progress.
 Derr spoke to representatives of the 20 member economies and the business community at the opening of the Pacific Economic Cooperation Council's (PECC) first meeting in the U.S. Derr also is Chairman, PECC IX San Francisco Host Committee.
 Derr referred to the success of the Pacific Rim as an example of the power of markets made efficient by liberalized trade and investment. "Like PECC, the Pacific Rim is remarkable for what has been aptly called 'quiet cooperation' between government, the private sector and the universities," he said.
 "Cooperation, not contention -- that's one import I'd like to see more of in the U.S.," Derr stressed.
 Derr cited studies that during the 1980s some of the Asia-Pacific economies had annual growth rates above seven percent, and some above ten percent.
 "Progress is possible," Derr said, citing the North American Free Trade Agreement (NAFTA). "NAFTA -- and any other trade agreement based on the General Agreement on Trade and Tariff principles -- will lead to increased economic growth. And that, in turn will create jobs, raise the standard of living and improve environmental protection."
 Derr observed that "trade, and the economic growth it brings, are critical to improving our natural environment." He noted that studies by the U.N.-sponsored Business Council for Sustainable Development showed "an unmistakable cause-and-effect link between free trade, economic development and improved environmental conditions. The planet's environmental health is best served by healthy national economies that practice free trade -- and that leads to long-term sustainable development."
 Derr cited liberalized trade practices as being largely responsible for trade and investment that grew during the 1980s at more than twice the rate of general world economic activity.
 Derr noted that Chevron has operations in 19 of the 20 PECC economies. "We've been participants and partners in the dazzling economic growth that has resulted from the open regionalism that PECC was formed to support," he said. "And we have witnessed the benefit to all when free markets direct the global trade in oil.
 "Oil is the ultimate international commodity," Derr said.
 "Petroleum is produced in almost half of the nations of the world. It is used by all of the nations of the world. Moreover, because of its indispensable role in energy production, transportation fuels and petrochemicals, it accounts for more of the world's trade than any other single commodity."
 Derr told the audience that in case after case, "oil is the critical commodity to a nation intent on economic and social progress," the most recent examples being former Soviet Republics such as Russia, Kazakhstan and Azerbaidzhan. "Oil development invites foreign capital investment and technology transfer . . . while oil exports bring the foreign currencies that are needed for other trade in world markets," he said.
 -0- 9/23/92
 /CONTACT: Sherri Zippay of Chevron, 415-894-4581/ CO: Chevron ST: California IN: OIL SU:


TM -- SF008 -- 2672 09/23/92 13:05 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
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