Posts filed under ‘Free Trade Agreements’

Toyota to ship U.S.-built Camry sedans to South Korea

Toyota today announced it will export about 6,000 U.S.-assembled Camry sedans annually to its distributor in South Korea.

The Camry sedans will be built at Toyota’s manufacturing plant in Georgetown, Ky., and exported out of the Port of Hueneme, near Oxnard, Calif., beginning in January 2012.

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CNET Reviews: The Car Tech Blog, Dec 6, 2011

December 8, 2011 at 9:56 am

KORUS FTA Ratified in Korean National Assembly

This morning, I am thrilled to announce that the U.S.-Korea Free Trade Agreement (KORUS) has been ratified in the Korean National Assembly. Passage of the agreement in today’s extempore session clears the way for a new level of cooperation and prosperity between our two nations. The agreement passed by a vote of 151-7, with all 14 KORUS implementation bills approved as well.

Nov 22, 2011
Tami Overby, President, U.S.-Korea Business Council
Vice President, Asia, U.S. Chamber of Commerce

November 23, 2011 at 9:44 am

Northern Kentucky Chamber Applauds Approval of Free Trade Agreements

FT. MITCHELL, Thursday, October 13, 2011 – The Northern Kentucky Chamber of Commerce welcomes the approval by the House and Senate of the U.S. Free Trade Agreements (FTAs) with Colombia, Panama and South Korea. This concerted effort will ensure that the United States continues to gain access to world markets and because Northern Kentucky represents twenty-five percent of Kentucky’s foreign trade, the newly approved FTAs have the potential to positively impact local commerce and employment.

“We are pleased to witness a bipartisan support for trade by Congress,” states Daniele Longo, VP Business Growth, Healthcare Solutions and International Affairs at the Northern Kentucky Chamber of Commerce. “These agreements will open new strategic markets for more exports from Kentucky and the Greater Cincinnati region, supporting jobs and generating tax revenues for our communities.”

The Northern Kentucky Chamber of Commerce and a broad-based coalition of supporters have been urging congressional consideration of these agreements for several years. The U.S. International Trade Commission reports that these agreements could increase U.S. exports by at least $13 billion and U.S. GDP by at least $10 billion. The USITC estimates that these agreements are expected to create a total of 250,000 new American jobs.

“We applaud the efforts of the Greater Northern Kentucky and Cincinnati regional congressional delegation for their support of the FTA’s,” said Brent Cooper, Chair of the Northern Kentucky Chamber’s Board. “Their support is much appreciated by local businesses and will further enhance our region’s ability to compete in the global marketplace.”

“This Chamber has always been proactive in educating and helping its members and communities on the advantages the new global economy brings,” said Steve Stevens, President of the Northern Kentucky Chamber of Commerce. “As a matter of fact, last year we hosted ten foreign delegations including the Ambassadors and trade officers of Panama and South Korea and we hope that our efforts to build relationships with these dignitaries will strengthen potential trade opportunities for our region in the near future.”

October 14, 2011 at 8:18 am

Senate approves GSP bill

The U.S. Senate Thursday voted 70-27 to renew the Generalized System of Preferences and Trade Adjustment Assistance programs that had expired within the past year.

The trade package now heads to the House for final approval and opens the door for trade agreements with Colombia, Panama and Korea to be considered.

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American Shipper Sept. 23, 2011

September 27, 2011 at 11:50 am

Coalition Praises Breakthrough on KORUS

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.

For more information, please visit

December 6, 2010 at 10:00 am

Korean Government submits EU FTA

SEOUL, Oct. 25 (Yonhap) — The government submitted the South Korea-European Union (EU) free trade pact ratification bill to the National Assembly on Monday, officials said.

South Korea and the EU signed the bilateral free trade agreement (FTA) on Oct. 6 while they provisionally agreed to put the pact into effect starting on July 1, 2011.

Source: Yonhap News Agency

October 27, 2010 at 6:53 am

U.S. Businesses Urged to Promote Trade (source:

The ranking member of the U.S. House Ways and Means Committee urged business owners and managers attending the National Foreign Trade Council’s annual dinner in Washington on Wednesday to talk to their employees about the benefits of trade.
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October 4, 2010 at 10:03 am

Pushing the Free Trade Agenda

More than 400 business leaders from around the world took part in this year’s ICC World Business Summit. Organised by the International Chamber of Commerce (ICC) and the Hong Kong Trade Development Council, the 30 June event at the Hong Kong Convention and Exhibition Centre attracted some of the leading lights in international business and economics. Speakers included Martin Wolf, Associate Editor and Chief Economics Commentator of the Financial Times; David Sokol, Chairman of MidAmerican Energy Holdings Company, a subsidiary of Warren Buffet’s investment conglomerate Berkshire Hathaway; as well as Chen Yuan, Chairman of the China Development Bank.

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July 8, 2010 at 7:15 am

Legislation to Implement Canada-Colombia Free Trade Agreement Receives Royal Assent

The Honourable Peter Van Loan, Minister of International Trade, today announced that legislation to implement Canada’s free trade agreement with Colombia has received Royal Assent.

“I’m pleased that this free trade agreement with Colombia, a key market in South America, is now law in Canada,” said Minister Van Loan. “The agreement demonstrates our government’s commitment to an ambitious free trade agenda. The agreement will benefit Canada’s producers and exporters, reduce or eliminate tariffs on nearly all current Canadian exports, and provide a more predictable, transparent and rules-based trading environment for Canadian investors.”

The Canada-Colombia free trade legislation includes parallel agreements on labour cooperation and the environment. Under these agreements, Canada and Colombia agree to respect internationally recognized labour standards and principles, and to pursue high levels of environmental protection as the two countries intensify their commercial relationship.

Source: Canada News Center, Government of Canada

July 7, 2010 at 8:00 am


The United States International Trade Commission (USITC) is seeking input for two newly initiated investigations concerning proposed modifications of the North American Free Trade Agreement (NAFTA) rules of origin.

The investigations, Certain Textile Articles Containing Rayon and Other Manmade Fibers: Effect of Modifications of NAFTA Rules of Origin for Goods of Canada and Mexico, and Certain Textile Articles Containing Acrylic and Modacrylic Fibers: Effect of Modifications of NAFTA Rules of Origin for Goods of Canada, result from a request by the U.S. Trade Representative (USTR) in a letter received on July 30, 2009.

As requested, the USITC, an independent, nonpartisan, factfinding federal agency, will provide advice on the probable effect of proposed NAFTA rules of origin modifications on U.S. trade and on domestic producers of the affected yarns and fabrics. Details on the products covered by the investigation can be obtained from the attachment to the request letter, which can be found on the USITC Internet site at

The USITC expects to submit its advice to the USTR by November 30, 2009.

Further information on the scope of these investigations, the proposed rules of origin modifications, and the procedures for written submissions is available in the USITC’s notices of investigation, dated August 17, 2009, which can be downloaded from the USITC Internet site ( or by contacting the Secretary at the above address.

August 18, 2009 at 1:46 pm

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Peru - August 12-20, 2012
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