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US Divided on KORUS FTA Timeline

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2011-03-10

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It looks like Washington remains divided on the timeline for the ratification of the Korea-US free trade agreement.
While the Obama administration has repeatedly called on Congress to move quickly on the Korea deal‚ some congressmen are insistingthat the pact be considered as a package with pending deals with Colombia and Panama.
At a Senate Finance Committee hearing on Wednesday‚ committee chairman Max Baucus said he opposed the idea of singling out the Korea dealadding that the pact will not move forward unless Seoul completely opens up its beef market to US exporters.
However US Trade Representative Ron Kirk asked the Korea-US FTA to be approved first and stressed that he will try to resolve remaining issues on the Colombia and Panama deals before the end of the year.
Kirk also said that he will continue to work towards lifting restrictions on the shipments of American beef.
Meanwhile‚ US Secretary of State Hillary Clinton has reiterated the benefits of the Korea-US trade deal to members of the Asia Pacific Economic Cooperation forum saying a deal with Korea will set the tone for future trade and cooperation deals between Washington and other Asia Pacific nations.
Clinton added the deal will also help the US forge closer ties with key partner nations to create real and lasting diplomatic and political benefits. Once ratified‚ the Korea-US FTA is projected to create 70-thousand American jobs and boost US exports by 10 billion dollars annually
Hwang Sung-hee‚ Arirang News.
Reporter : ssung86@arirang.co.kr

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