Business Roundtable Hails Launch of Korea Free Trade Agreement Negotiations

U.S. Would Benefit from Comprehensive FTA with World's
10th Largest Economy and a Top American Trading Partner

Washington, D.C. - Business Roundtable today applauded the launch of negotiations between the United States and South Korea on the proposed U.S.-Korea Free Trade Agreement. A comprehensive Korea FTA would create new opportunities to expand U.S. trade with an important ally and trading partner, while securing America's foothold in the rapidly expanding Asian economy.

"A comprehensive and commercially meaningful Korea FTA will provide significant new opportunities for economic growth," said Harold McGraw III, Chairman, President and CEO, The McGraw-Hill Companies, and Chairman of Business Roundtable's International Trade & Investment Task Force. "South Korea already is a very important market for the United States, but we do not have a level playing field. We urge negotiators to pursue a comprehensive agreement to include every economic sector and address all the market access impediments now faced by American business and agriculture in South Korea."

"We face major obstacles to trade and investment - including regulatory transparency and market access for key U.S. sectors," added Mr. McGraw. "The negotiations will be challenging, but we are committed to making them a success."

Mr. McGraw noted, "South Korea is already the United States' seventh largest overall trading partner and the fifth largest international market for U.S. agricultural goods. A comprehensive Korea FTA would build on this base and offer real rewards to U.S. business, farmers and workers."

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Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading corporations with a combined workforce of more than 10 million employees and $4 trillion in annual revenues. The chief executives are committed to advocating public policies that foster vigorous economic growth, a dynamic global economy, and a well-trained and productive U.S. workforce essential for future competitiveness.

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