Washington, DC – The National Foreign Trade Council (NFTC) today congratulated the U.S. and Korean governments for working together to resolve issues standing in the way of advancing the KORUS FTA. The NFTC released the following statement:
“The KORUS FTA has long been a policy priority of the U.S. business community, and the NFTC commends U.S. and Korean negotiators’ commitment to resolving market access issues with respect to autos,” said NFTC President Bill Reinsch. “The FTA will play a critical role in strengthening our economic partnership with Korea, as well as our decades-long strategic alliance.”
“With Korea as our 7th largest trading partner, the reduction and elimination of tariff and non-tariff trade barriers will provide greater market access for a wide range of U.S. companies, service providers and agricultural producers – helping to increase U.S. exports and economic growth,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “We view today’s announcement as a positive signal that the Administration is committed to advancing the U.S. trade agenda. As we look ahead to the end of this year and next, we urge the President to move forward with submitting the implementing legislation to Congress as soon as possible. It is with the same sense of urgency that we ask the Administration to take action on the trade pacts with Colombia and Panama.”
About NFTC
Advancing Global Commerce for Over 95 Years – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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