[Congressional Record Volume 153, Number 107 (Friday, June 29, 2007)]
[Extensions of Remarks]
[Page E1466]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                UNITED STATES-KOREA FREE TRADE AGREEMENT

                                 ______
                                 

                            HON. DAN BURTON

                               of indiana

                    in the house of representatives

                        Thursday, June 28, 2007

  Mr. BURTON of Indiana. Madam Speaker, this House recently approved H. 
Res. 295, sponsored by my good friend and colleague from New York, Rep. 
Peter King, as well as 35 other Members from both sides of the aisle, 
to recognize the strong alliance between the Republic of Korea and the 
United States and to express the House of Representatives' appreciation 
to the Republic of Korea for its contributions to international efforts 
to combat terrorism. This resolution properly acknowledged the 
longstanding and heartfelt friendship between our two great countries.
  This coming Saturday, June 30, 2007, marks the 125th anniversary of 
the Korean-American Treaty of Amity and Commerce, which was signed in 
1882, and the 50th anniversary of the Treaty of Friendship, Commerce, 
and Navigation between the Republic of Korea and the United States, 
which was ratified in 1957.
  Saturday June 30th will also mark another historic milestone in the 
ever growing relationship between the people of the United States and 
the people of the Republic of Korea when, in a ceremony to be held 
right here on Capitol Hill, representatives of both governments are 
expected to sign the United States-Korea Free Trade Agreement.
  The proposed Free Trade Agreement--which still requires Congressional 
approval before coming into force--is a natural extension of the strong 
affinity between our two countries, marked by extraordinary diplomatic, 
political, military, and economic cooperation. Although the devil is 
always in the details, I understand that this agreement could 
potentially be the most commercially significant free trade agreement 
signed by the United States in more than a decade. As many of my 
colleagues already know, South Korea is already the United States' 
seventh largest export market and sixth largest market for U.S. 
agricultural products. In fact, according to the latest statistics, our 
annual bilateral trade totals nearly $80 billion. Any agreement that 
can open up more Korean markets to U.S. goods and services can only 
have a positive effect on the American economy by creating more and 
better jobs, enriching consumer choice, and boosting U.S. industry and 
manufacturing.
  But there's more at stake here than just economic growth; this FTA 
recognizes our special relationship with South Korea and reinforces the 
message that the United States stands squarely behind our friends and 
allies. I would ask my colleagues to consider just a couple of points:
  South Korea is the fifth largest tourism generating country to the 
United States (with over 800,000 Koreans visiting the U.S. annually);
  South Korea has the largest foreign student population in the U.S.;
  Nearly 2 million Americans of Korean descent live in communities all 
across our nation--which is why I support giving serious consideration 
to South Korea's entry into the Visa Waiver Program;
  South Korea is a strong, unwavering ally in the U.S.-led Global War 
on Terror, having dispatched troops to Iraq (the third largest 
contingent after the United States and Great Britain), and Afghanistan 
(where a South Korean soldier was killed during hostile action), and to 
Lebanon in support of peacekeeping operations; and,
  South Korea is a key partner in the Six-Party Talks to resolve North 
Korea's nuclear issue.
  Madam Speaker, I believe that South Korea may be the premier success 
story of U.S. foreign policy in the post-World War II period. Having 
assisted South Korea in transforming itself from a war-torn, 
impoverished economy into a successful democracy with a free enterprise 
economy (the world's 11th largest), South Korea is now an indispensable 
partner with the United States in promoting democracy and free market 
economic principles.
  The anticipated ceremony marking the conclusion of negotiations 
toward a U.S.-Korea Free Trade Agreement will be another opportunity to 
celebrate and honor the 125 years of friendship and cooperation between 
the Republic of Korea and the United States. Whether you're for free 
trade agreements or against them, I ask all my colleagues to join me in 
recognizing the historic significance of the U.S.-Korea alliance and 
its growing importance in the years to come.

                          ____________________