CUELLAR, PRO-TRADE CAUCUS HOST TRADE TALKS WITH KOREAN AMBASSADOR
Written by admin, Jun 2, 2011, 0 Comments
Courtesy Jose Borjon,
Congressional Trade Coalition Dedicated to Advancing Pending Free Trade Agreements
Washington, D.C. – Members of the Congressional Pro-Trade Caucus (CPTC), the Korea Caucus and other Members of Congress attended a policy briefing Wednesday hosted by the Korean Ambassador to the United States, Han Duk-soo. The meeting was attended by nearly a dozen bipartisan Members of Congress, including CPTC Chairman and founder Congressman Henry Cuellar (TX-28).
“Trade is vital part of America’s economic engine. Trade fuels economic growth, creates jobs and supports millions of American workers,” said Congressman Cuellar. “We are continuing to build the political will to pass the U.S.-Korea Free Trade Agreement. These meetings ensure momentum to pass this and other economically beneficial trade policies for America are not lost.”
This week’s meeting was organized to help Members of Congress understand how the pending Free Trade Agreement with Korea will benefit their individual Congressional districts. Members of Congress and the Ambassador engaged in a positive dialogue over the status of the agreement moving forward.
The agreement will make two-thirds of Korean imports of U.S. agriculture products duty free immediately. Currently, South Korea is the United States’ seventh largest trading partner. Ten years ago, the U.S. was the top exporter to Korea – providing one-fifth of all Korean imports. Today, the U.S. sits in third place with less than 10% market share.
“Trade agreements such as the one with Korea stabilize local jobs while supporting small businesses and increasing consumer choice,” Congressman Cuellar said. “Exports in the first half of last year alone supported 10 million jobs and brought in $890 billion. In Texas, more than one-fourth of all manufacturing workers depend on exports for their jobs. Today, we live in a global market that is only growing larger. We must be ready to meet the challenges that come with emerging and growing markets.”
The bipartisan Congressional Pro-Trade Caucus (CPTC) is dedicated to advancing an international trade policy that keeps the United States globally competitive. For more information on Congressman Cuellar’s involvement with other trade issues, please visit: http://www.cuellar.house.gov/Issues/Issue/?IssueID=3829
