Washington, DC – The National Foreign Trade Council (NFTC) today applauded President Obama’s commitment to submit the U.S.-Korea Free Trade Agreement (KORUS FTA) to Congress for approval this year. The NFTC released the following statement.About NFTCThe 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.
“We commend the president for stating his commitment to negotiating a way forward on issues that stand in the way of approval of the FTA, including the auto issue, and we applaud his plan to submit the agreement to Congress this year,” said NFTC President Bill Reinsch. “The KORUS FTA is the most commercially significant agreement in 16 years, and with the president’s goal of doubling exports and creating two million U.S. jobs in five years, ratification of the FTA is part of achieving that objective.”
“Wednesday marks the three-year anniversary of the signing of the FTA, and we are pleased that the president has announced his intentions to move the agreement forward this year,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “Korea is one of the world’s largest and most dynamic economies, and as our 7th largest trading partner, strengthening our bilateral trade ties will help to generate U.S. economic growth and create jobs.”
“We urge members of Congress to work with the Administration in a constructive manner to achieve the goal of approving the FTA this year. Both branches bear responsibility to pass an agreement that will help stimulate economic growth and job creation,” said Reinsch.
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