(Posted Thu. Mar 15th, 2012)
Mar. 15: After being passed by Congress last fall, the U.S.-Korea Free Trade Agreement took effect this morning. NCGA praises the full implementation of the FTA and thanks the two countries for working together on this achievement.
“NCGA greatly appreciates all the work put forth to fully implement the U.S./Korea FTA,” said Chad Blindauer, chair of NCGA’s Trade Policy and Biotechnology Action Team. “Korea is an important market for America’s corn farmers and we will now see expanded opportunities for corn and corn co-products. We thank United States Trade Representative Ron Kirk and the Congressional leaders that were dedicated to seeing the FTA completed and implemented.”
Korea is currently the United States’ third largest corn market and is a potentially important market for distillers grains. Imports of U.S. corn for feed, as well as distillers grains, will now be guaranteed to enter duty free immediately. The United States exported 241 million bushels of corn to Korea in marketing year 2010/11.