Mixed reactions to US and South Korea trade agreement

04-04-2007 | |

After nearly 10 months of negotiations, the US and South Korea have concluded a free trade agreement, however, there have been mixed responses.

“Poultry is one of the agricultural items that will benefit from the FTA in the long run, and veterinary/sanitary phytosanitary agreements will go into effect regardless of Congressional vote on the FTA,” said the USA Poultry & Egg Export Council.
USAPEEC president Jim Sumner: “This agreement will eventually eliminate all poultry and egg tariffs and immediately bring an improvement to disease issues such as AI restrictions.”
The trade deal is appaarently the largest agreement since NAFTA (North American Free Trade Agreement) was signed 1 January, 1994. It has been said that this agreement could increase trade between the two countries to US$20 billion (€14.9 billion).
The agreement needs to undergo act of Trade Promotion Authority (TPA) before it becomes official.
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