ID :
208994
Fri, 09/23/2011 - 08:52
Auther :
Shortlink :
https://oananews.org//node/208994
The shortlink copeid
U.S. Senate clears one hurdle to FTA with S. Korea
(ATTN: UPDATES with remarks by S. Korean trade minister in last 5 paras)
By Lee Chi-dong
WASHINGTON (Yonhap) - The U.S. Senate, led by Democrats, voted Thursday to approve the renewal of a worker training program, raising hopes of the ratification of free trade pacts with South Korea, Colombia and Panama.
President Barack Obama's push for extending the Trade Adjustment Assistance (TAA), aimed at providing job training and financial support for workers displaced by trade, has been opposed by Republican lawmakers who doubt the effectiveness of the half-a-century program amid federal budget constraints.
The approval of the TAA bill, coupled with the renewal of the Generalized System of Preferences, marks a step forward in efforts to ratify free trade agreements (FTAs) with the three nations, first signed several years ago.
It remains unclear, however, whether and when the legislation will be endorsed by the Republican-controlled House of Representatives.
Obama has reportedly been seeking assurances that the renewal of the TAA will be passed in both chambers of Congress, before submitting the bills implementing the FTAs.
U.S. and South Korean government officials hope that the FTA between the two, dubbed the "KORUS FTA," will be ratified ahead of South Korean President Lee Myung-bak's state visit to the U.S. in mid-October.
House Speaker John Boehner reiterated his call for Obama to send the FTAs to Congress immediately.
"If the president submits these agreements promptly, I'm confident that all four bills can be signed into law by mid-October," he said in a statement shortly after the Senate vote.
South Korea's Trade Minister Kim Jong-hoon said, after meeting with Democratic and Republican lawmakers as well as White House officials, Obama is expected to submit the FTAs to Congress only after securing a "political consensus."
Kim, on a trip to Washington for consultations on the issue, told reporters that the White House will have "serious and in-depth" talks with the Republican leadership in the House throughout next week.
"My prediction is that the submission of the FTAs will be realized in the first week of October," he said in a cautious tone.
He quoted Republican lawmakers as saying that they are also "deeply taking the (upcoming) trip by President Lee into consideration."
Both the Democrats and the Republicans have a "strong will" to handle the FTAs, he added.
By Lee Chi-dong
WASHINGTON (Yonhap) - The U.S. Senate, led by Democrats, voted Thursday to approve the renewal of a worker training program, raising hopes of the ratification of free trade pacts with South Korea, Colombia and Panama.
President Barack Obama's push for extending the Trade Adjustment Assistance (TAA), aimed at providing job training and financial support for workers displaced by trade, has been opposed by Republican lawmakers who doubt the effectiveness of the half-a-century program amid federal budget constraints.
The approval of the TAA bill, coupled with the renewal of the Generalized System of Preferences, marks a step forward in efforts to ratify free trade agreements (FTAs) with the three nations, first signed several years ago.
It remains unclear, however, whether and when the legislation will be endorsed by the Republican-controlled House of Representatives.
Obama has reportedly been seeking assurances that the renewal of the TAA will be passed in both chambers of Congress, before submitting the bills implementing the FTAs.
U.S. and South Korean government officials hope that the FTA between the two, dubbed the "KORUS FTA," will be ratified ahead of South Korean President Lee Myung-bak's state visit to the U.S. in mid-October.
House Speaker John Boehner reiterated his call for Obama to send the FTAs to Congress immediately.
"If the president submits these agreements promptly, I'm confident that all four bills can be signed into law by mid-October," he said in a statement shortly after the Senate vote.
South Korea's Trade Minister Kim Jong-hoon said, after meeting with Democratic and Republican lawmakers as well as White House officials, Obama is expected to submit the FTAs to Congress only after securing a "political consensus."
Kim, on a trip to Washington for consultations on the issue, told reporters that the White House will have "serious and in-depth" talks with the Republican leadership in the House throughout next week.
"My prediction is that the submission of the FTAs will be realized in the first week of October," he said in a cautious tone.
He quoted Republican lawmakers as saying that they are also "deeply taking the (upcoming) trip by President Lee into consideration."
Both the Democrats and the Republicans have a "strong will" to handle the FTAs, he added.
