USTR posted on its website 5 reasons why FTA between U.S and Korea is essential on Oct. 27th.
1. Strengthen strategic partnership between U.S & Korea
2. Provide opportunities to U.S entrepreneurs and farmers
3. Quickens Korea's economic reform
4. Secure U.S' competitiveness in East Asia
5. Strengthen bonds among allied countries
USTR also anticipated that once FTA is agreed, U.S will gain large profits for its GDP will increase to 10 billion dollars at minimum and its scale of export will expand to 10 ~ 11 billion dollars each year.
U.S is now in economic recession due to unprecedented financial crisis.
For U.S to get over this financial crisis and to regain its global competitiveness and increased productivity, U.S - Korea FTA must be passed as soon as possible.
1. Strengthen strategic partnership between U.S & Korea
2. Provide opportunities to U.S entrepreneurs and farmers
3. Quickens Korea's economic reform
4. Secure U.S' competitiveness in East Asia
5. Strengthen bonds among allied countries
USTR also anticipated that once FTA is agreed, U.S will gain large profits for its GDP will increase to 10 billion dollars at minimum and its scale of export will expand to 10 ~ 11 billion dollars each year.
U.S is now in economic recession due to unprecedented financial crisis.
For U.S to get over this financial crisis and to regain its global competitiveness and increased productivity, U.S - Korea FTA must be passed as soon as possible.
