ID :
18937
Thu, 09/11/2008 - 15:50
Auther :
Shortlink :
https://oananews.org//node/18937
The shortlink copeid
Ambassador Lee urges Congress to approve Korea-U.S. FTA
By Hwang Doo-hyong
WASHINGTON, Sept. 10 (Yonhap) -- South Korean Ambassador Lee Tae-sik Wednesday urged U.S. Congress to approve the pending Korea-U.S. free trade agreement (FTA), warning any further delay may greatly undermine U.S. competitiveness in Korea.
"The United States used to be number one in South Korea, but now it's number
three or four," Lee told a forum here organized by business groups
supporting pending free trade deals with South Korea, Colombia and Panama.
"If you don't come to Korea, somebody else will come. We are currently
negotiating free trade agreements with the European Union and other
countries."
U.S. and South Korean officials have expressed confidence that the FTA will be
approved once it is put to a vote during a lame duck session held after the
November elections, which will help lawmakers avoid political risks in the
election year.
Congress reconvened Monday for a session that is to last several weeks before
recessing again for election campaigning.
Seoul and Washington signed the FTA in June 2007, but the agreement still
requires approval from both legislatures. Opponents fear the free trade deal will
cost U.S. workers jobs, while proponents insist it will boost the U.S. economy
with additional two-way trade volume reaching US$20 billion annually.
Senior legislators of South Korea's ruling party backing pro-U.S. President Lee
Myung-bak have said they will ratify the trade deal during the ongoing
parliamentary session, which started early this week.
Ambassador Lee said the FTA will help revive the faltering U.S. market share in
South Korea.
"This is the right way to get it there, through the FTA," he said.
"We are ready to tear down our tariffs and non-tariff barriers and ready to
create a level-playing field."
The ambassador said the Korea-U.S. FTA is the largest for the U.S. after the
North American Free Trade Agreement ratified more than a decade ago, noting the
agreement will greatly increase bilateral trade and investment.
U.S. Commerce Secretary Carlos Gutierrez also appeared at the forum, calling on
Congress "to do the right thing" on the pending free trade deals.
"We have implemented 11 FTAs and we need more FTAs," he said, adding
the U.S. recorded $22 billion in trade surplus last year.
hdh@yna.co.kr
(END)
WASHINGTON, Sept. 10 (Yonhap) -- South Korean Ambassador Lee Tae-sik Wednesday urged U.S. Congress to approve the pending Korea-U.S. free trade agreement (FTA), warning any further delay may greatly undermine U.S. competitiveness in Korea.
"The United States used to be number one in South Korea, but now it's number
three or four," Lee told a forum here organized by business groups
supporting pending free trade deals with South Korea, Colombia and Panama.
"If you don't come to Korea, somebody else will come. We are currently
negotiating free trade agreements with the European Union and other
countries."
U.S. and South Korean officials have expressed confidence that the FTA will be
approved once it is put to a vote during a lame duck session held after the
November elections, which will help lawmakers avoid political risks in the
election year.
Congress reconvened Monday for a session that is to last several weeks before
recessing again for election campaigning.
Seoul and Washington signed the FTA in June 2007, but the agreement still
requires approval from both legislatures. Opponents fear the free trade deal will
cost U.S. workers jobs, while proponents insist it will boost the U.S. economy
with additional two-way trade volume reaching US$20 billion annually.
Senior legislators of South Korea's ruling party backing pro-U.S. President Lee
Myung-bak have said they will ratify the trade deal during the ongoing
parliamentary session, which started early this week.
Ambassador Lee said the FTA will help revive the faltering U.S. market share in
South Korea.
"This is the right way to get it there, through the FTA," he said.
"We are ready to tear down our tariffs and non-tariff barriers and ready to
create a level-playing field."
The ambassador said the Korea-U.S. FTA is the largest for the U.S. after the
North American Free Trade Agreement ratified more than a decade ago, noting the
agreement will greatly increase bilateral trade and investment.
U.S. Commerce Secretary Carlos Gutierrez also appeared at the forum, calling on
Congress "to do the right thing" on the pending free trade deals.
"We have implemented 11 FTAs and we need more FTAs," he said, adding
the U.S. recorded $22 billion in trade surplus last year.
hdh@yna.co.kr
(END)
