The Free Trade Agreements (FTAs) with Colombia and Korea are two immediate opportunities to create jobs and economic growth across the nation. And no region will benefit more from free trade with these two nations than Los Angeles. Unfortunately, more than two years after both agreements were signed by negotiators, neither has been ratified by Congress due to political concerns about labor and environmental issues in these nations.
Colombia is the United State’s fourth-largest trading partner in Latin America and the largest market for U.S. agricultural exports in South America. Just a few years ago, U.S. growers exported $11.4 million in fruits and vegetables including grapefruit to Colombia. Free trade with Colombia will help create more exports and more jobs here at home.
Despite the fact that Colombia has made dramatic progress in improving security for its citizens, U.S. officials contend that Colombia must do more to address issues of violence against union leaders. Everything possible should be done to protect Colombian citizens, but holding trade hostage only hurts workers and legal businesses in both nations.
Korea is a $1 trillion economy and L.A.’s third-largest trading partner. U.S. exports to Korea totaled $34.8 billion last year alone. Studies have shown that an FTA with Korea would deliver $10 billion in new exports from the U.S. to Korea. In the current economy, that number should be enough to bring this important agreement to a vote in Congress.
In May, United States Secretary of Commerce Gary Locke expressed his support for free trade at The Americas Business Forum hosted by the L.A. Area Chamber. He acknowledged the “badly-needed jobs” which could be created in Los Angeles. We applaud Secretary Locke for speaking up for trade and we hope the 53 members of the California Congressional delegation will do the same when they return to session.
Businesses can help by voicing its support for these two Free Trade Agreements by writing to the Office of the United States Trade Representative or providing an online comment before Tuesday, Sept. 15. Take action today.
Now is the time to create jobs for America by picking the low hanging “grapefruit” that is right in front of us.