IDFA Joins U.S.-Korea Business Coalition in Dialogue with Congress
Members of the U.S.-Korea Free Trade Agreement (FTA) Business Coalition, including IDFA, sent joint letters last week to U.S. senators and representatives as a first step in pushing for the passage of the recently completed free trade negotiations with Korea. In addition to IDFA, 156 companies and associations signed letters that emphasized their support of the agreement and eagerness to work with congressional leaders to obtain its passage.
"This deal is great for American dairy exporters," said Clay Hough, IDFA senior vice president. "Once the agreement goes into effect, there will be a steady decline and eventual elimination of most dairy tariffs, and a variety of dairy products, including cheese and whey, will gain increased duty-free access to the Korean market."
In 2006, Korea represented the seventh largest market for U.S. dairy imports, valued at $65 million, an increase of 11% over 2005.
According to the Business Coalition, "The U.S.-Korea FTA stands to bring real benefits for U.S. workers and businesses, and will promote our two countries' economic leadership in the region by demonstrating that America is ready to embrace new opportunities in an increasingly competitive global environment."
Click here to read the letter to the Senate and the House. To read IDFA's recent press release on the FTA, click here.
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Posted April 30, 2007