Oct 03, 2011
The American Soybean Association (ASA) applauds the Obama Administration for transmitting to Congress today implementing legislation for the Free Trade Agreements (FTAs) with South Korea, Colombia and Panama. ASA now calls on Congress to swiftly pass the FTAs so they may enter into force as soon as possible.
The trade agreements combined represent nearly $3 billion of additional agriculture exports to these trading partners. Soybean farmers look forward to increased exports of soybeans and soy products, and domestically produced livestock and poultry that consume soy.
"But these export gains can only be realized by passage and implementation of the three trade agreements. After nearly a five-year delay, we have experienced firsthand the loss of U.S. market share to competitors in those markets," said ASA President Alan Kemper, a soybean producer from Lafayette, Ind. "We urge Congress and the White House to work together to take full advantage of the economic boost that these FTAs provide the American economy," Kemper said.
The ASA has been working for a number of years toward passage of these trade agreements.