NCGA Welcomes Advance of Key Trade Agreements (12-9-05)

The National Corn Growers Association (NCGA) has welcomed news that two key trade agreements came a step closer to realization Wednesday, as the United States and Peru came to terms on a free trade agreement (FTA) and the House of Representatives approved a FTA with Bahrain, the National Corn Growers Association (NCGA) notes.

U.S. Trade Representative Rob Portman wrapped up negotiations with Peru on an FTA on Wednesday. The agreement must still be approved by the House and Senate, and there is hope Colombia and Ecuador will be added early next year.

“A Trade Promotion Agreement with Peru will generate export opportunities for U.S. companies, farmers, and ranchers, and help create jobs in the United States,” Portman said.

U.S. agricultural exports to Peru, Colombia and Ecuador totaled $1 billion in 2004.

“This is one more incremental step in opening markets and expanding trade between the U.S. and Latin America,” said NCGA CEO Rick Tolman. “Peru is a growing market for corn and a growing market for products made here in the United States from corn -- things like meat and livestock products and processed food products. This new agreement is also significant in that it continues to strengthen our ties with the Southern Hemisphere, one of the most important trading areas for the United States. We commend the work of the U.S Trade Representative and look forward to expanded trade with the good people of Peru.”

Also Wednesday, the House approved the U.S.-Bahrain Free Trade Agreement 327-95. The agreement still needs Senate approval.

"On the first day that the U.S.-Bahrain Free Trade Agreement goes into effect, 100 percent of the two-way trade in industrial and consumer products will be without tariffs,” said Portman. “U.S. farmers will also find additional opportunities, especially in meats, fruits and vegetables, cereals, and dairy products. In addition, Bahrain has made broad commitments to open its services market wider than has any previous FTA partner, creating a wide array of opportunities in services sectors such as banking and securities, insurance, and telecommunications, audiovisual, express delivery, distribution, healthcare, architecture and engineering.”