USGC Hopeful on Resolving Differences on TAA and Free Trade Agreements

The U.S. Grains Council was encouraged by the announcement this week  of  the Senate Finance Committee’s  intention to schedule a mock up hearing on the Korea, Colombia and Panama Free Trade Agreements. However, procedural disagreements on inclusion of reauthorization of the Trade Adjustment Assistance resulted in postponement of that markup hearing.  Hopefully, these disagreements can be resolved in a timely manner and move toward the critical step of ratification and implementation of these important trade initiatives.

MAP and FMD Funding Boost Council Efforts in South Korea

U.S. grain farmer checkoff investments in international market development, combined with USDA Foreign Market Development (FMD) and Market Access Program (MAP) funds, have helped grow U.S. distillers dried grains with soluble (DDGS) exports to South Korea by almost 500,000 metric tons. As a result of this promotion, U.S. DDGS has a bright future in this country.

U.S. Grains Council Commends Administration’s Movement on Colombia FTA

The U.S. Grains Council commends the Administration’s move forward on technical discussions with Congress on the Colombia Trade Promotion Agreement draft implementing bill and draft Statement of Administrative Action. Today’s announcement will establish a pathway for formal consideration of all three pending trade agreements, including South Korea and Panama.

“The U.S. Grains Council cannot overstate the importance of these agreements as Colombia, Panama and South Korea are a strategic markets with exceptional growth potential for U.S. feed grains and

Korea Battles Foot-and-Mouth Disease, US Exports Expected to Continue

U.S. exports to Korea may be slightly affected by a recent bout of foot-and-mouth disease (FMD), but not to the point of great concern, the U.S. Grains Council said.

On Nov. 29, 2010, an outbreak of FMD was first detected in the Republic of Korea and has since spread throughout the country. With more than 100 confirmed cases, this outbreak marks the country’s worst battle with the disease since 2002, which resulted in the slaughtering of 160,000 head of livestock.

As Grain Prices Trend Upward, Korea Creates National Grain Procurement System

In response to growing concerns about food security, Korea recently announced the creation of a national grain procurement system. The newly created consortium is comprised of five major parties, including...

Korea Agro-Fisheries Trade Corporation, a government-invested entity and a key player of the consortium; CJ CheilJedang Corporation, a feed miller and food manufacturer; Samsung C&T Corporation, a general trading company; STX, an export elevator investor; and Hanjin Shipping.

Statement from Terry Vinduska, USGC Chairman — US Administration Reaching Korea Trade Deal

WASHINGTON, D.C., December 6, 2010 – “The U.S. Grains Council congratulates the U.S. Administration on achieving a historical and precedent-setting agreement with Korea, the most expansive U.S. trade deal since the North American Free Trade Agreement. The U.S.-Korea Free Trade Agreement provides significant benefits for U.S. agricultural trade and the U.S. economy. It will immediately open new opportunities for significant increases in U.S. agricultural exports, which will generate income and jobs here at home.

Byong Ryol Min, USGC Director in Korea, Answers Questions Regarding the Korea, US Free Trade Agreement

What type of impact would a potential Korea-U.S. free trade agreement have on U.S. agriculture?
According to the U.S. Department of Agriculture, a Korea-US (KORUS) free trade agreement would provide American agriculture with improved access to Korea’s $1 trillion economy and 49 million consumers. In 2009, Korea was the third-largest market for US corn. As a result of a free trade agreement, most U.S. agricultural products would become duty-free.

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