Warm welcome for trade deal US-Korea
The National Pork Producers Council (NPPC) in the US
has applauded the completion of a Free Trade Agreement (FTA) with South
The deal will generate hundreds of millions of dollars in new pork exports
and ensure that US pork exports to South Korea will be on an equal footing with
pork from other countries, the NPPC writes on its
Chile, for example, enjoys lower duties on
its pork exports to Korea - and will have unlimited duty-free access by 2014 -
because of the trade agreement it has with South Korea. That deal took effect in
"US pork producers are excited about the new deal and will work
very hard for congressional passage of the agreement," said NPPC president Jill
"The Korean negotiators wanted to
minimise the market access gains for US pork," said Appell, "but the US trade
team came through for pork producers and delivered a fabulous deal that will
eliminate duties on US pork exports and generate hundreds of millions of dollars
in new pork exports."
US pork producers first gained meaningful
market access to South Korea through the WTO Uruguay Round. Since that trade
deal was implemented in 1995, US pork exports to South Korea have increased
2,217% by volume and 2,606% by value.
The country is now the fourth
largest market for US pork and pork products, and the United States is the No 1
foreign supplier of pork to the Asian nation.
The free trade deal was concluded on Monday. For the US, this deal
means the biggest free trade deal since NAFTA (1992), for South Korea it is the
most important trade deal ever.
However, parliaments in both
countries have yet to ratify the treaty.
â€¢ NPPC wants 'ambitious deal' for South Korea (22 March
Trade Organisation (WTO)
â€¢ National Pork Producers Council
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