Coalition Praises Breakthrough on KORUS

December 6, 2010 at 10:00 am

WASHINGTON, D.C. – The U.S.-Korea FTA Business Coalition praised the announcement today that the U.S. and Korean governments have come to an agreement on resolving outstanding issues related to the U.S.-Korea Free Trade Agreement (FTA).

“The Coalition commends President Obama and President Lee for their bold leadership in successfully overcoming the challenges that have held up consideration and enactment of the KORUS FTA,” said Laura Lane, managing director and head of international government affairs for Citigroup and a co-chair of the Coalition. “It is a huge step forward towards generating jobs needed across America by boosting exports to one of our country’s most important overseas markets. We applaud the U.S. and Korean negotiating teams for their tireless efforts to find the way forward.”

“Sixty years after the Korean War, this agreement is a powerful reinforcement of the U.S.-Korea relationship,” said Tami Overby, president of the U.S.-Korea Business Council and vice president, Asia, U.S. Chamber of Commerce. “It will strengthen our countries’ efforts to promote regional security and lead regional economic integration.”

“We have no time to lose so that U.S. workers, farmers, and businesses can capture the benefits of new access to the Korean market before our other global competitors do,” said Ted Austell, vice president of executive, legislative and regulatory Affairs for Boeing and a co-chair of the Coalition. “The members of the Coalition will make every effort to secure the strongest possible support for the agreement in Congress.”

The U.S.-Korea FTA Business Coalition is a broad-based organization of more than 900 U.S. businesses and trade associations, co-chaired by Boeing, Chevron, Citi, Goldman Sachs, and Pfizer, that work together to secure approval by Congress of the U.S.-Korea FTA. The U.S.-Korea Business Council serves as Coalition secretariat.

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Entry filed under: Free Trade Agreements, Korea, Trade.

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