South Korea, US FTA Implemented in March

United States Trade Representative Ron Kirk announced earlier this week, that the free trade agreement between the United States and South Korea (KORUS FTA) will be implemented on March 15, 2012.

On March 15, almost two-thirds of US exports of agricultural products to Korea will become duty-free, including wheat, corn, soybeans for crushing, whey for feed use, hides and skins, cotton, cherries, pistachios, almonds, orange juice, grape juice, and wine.

National Cattlemen’s Beef Association (NCBA) President J.D. Alexander praised the announcement.

“NCBA was a key player in working vigorously to ensure passage of the trade pact with South Korea. We are pleased to see a smooth implementation process taking place and commend Ambassador Kirk for his steadfast commitment to expanding trade opportunities for farm and ranch families like mine."

The deal will help South Korean exporters who have previously lost sales to Europe because of the continent's debt crisis that affected consumer and business demand.

TheBioenergySite News Desk