Cuellar, CHAIRMAN OF CONGRESSIONAL PRO-TRADE CAUCUS, APPLAUDS KOREA-US TRADE AGREEMENT Progress
Written by Post Public Information Representative, Dec 5, 2010, 0 Comments
Courtesy Lesley Lopez,
Washington, D.C. –Congressman Henry Cuellar (TX 28) applauds the announcement that successful negotiations between U.S. and Korean officials have lead to significant progress toward a Korea-U.S. free trade pact. The text of the revised agreement must now be finalized and ratified by the U.S. Congress and the Korean Legislature.
United States Trade Representative Ron Kirk negotiated with Korean Minister for Trade Kim Jong-hoon in Columbia, Maryland to resolve issues related to the U.S.-Korea trade agreement, including significant non-tariff issues on American automobile exports. The success of the negotiations marks a major step toward resolving other outstanding issues and makes improvements for U.S. companies.
Congressman Cuellar, chairman of the Congressional Pro-Trade Caucus, has fought to promote the free trade agreement between the United States and Korea, commonly known as KORUS FTA.
“Trade is vital part of America’s economic engine. Trade fuels growth, creates jobs and supports thousands of workers in South Texas,” said Congressman Cuellar. “Now more than ever, Americans want economic stability. And trade is a way to achieve it.”
“The Korea-US Free Trade Agreement would ensure that the United States not only remains competitive in the Korean market, but remains a strong competitor throughout Asia. I look forward to finalizing the agreement over the next few weeks and working with my colleagues to get a vote as soon as possible.”
It’s estimated that if Congress approves the KORUS FTA, the U.S. Gross Domestic Product would increase by $10 to $12 billion annually, making it one of the most commercially-significant FTAs for the United States in the past two decades.
This year, members of the Congressional Pro-Trade Caucus, a bipartisan coalition dedicated to promoting trade as a tool to spur economic growth and job creation in the United States, hosted several trade policy briefings with Han Duk-soo, the Ambassador to the Republic of Korea. The meeting was attended by more than a dozen bipartisan members of Congress who advocated positive dialogue to promote KORUS.
