[Congressional Record Volume 157, Number 51 (Friday, April 8, 2011)]
[Extensions of Remarks]
[Page E681]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    U.S.-KOREA FREE TRADE AGREEMENT

                                 ______
                                 

                          HON. LORETTA SANCHEZ

                             of california

                    in the house of representatives

                         Friday, April 8, 2011

  Ms. LORETTA SANCHEZ of California. Mr. Speaker, last month I had the 
privilege of visiting the Republic of Korea through their Congressional 
Member Exchange Program, where I was honored to have a one-on-one 
meeting with Foreign Minister Kim Sung-hwan so that we could discuss 
our two countries' mutual interests and bilateral relations.
  In addition, I was able to meet with Trade Minister Kim Jong-hoon and 
a number of members of the National Assembly, as well as to travel to 
Anyang, which is just south of Seoul. Anyang is a sister city of Garden 
Grove, one of the larger communities in California's 47th congressional 
district and the home to many Americans of Korean descent and recent 
immigrants from Korea.
  As co-chair of the Congressional Caucus on Korea, I make a point-of 
paying close attention to the issues that affect U.S.-Korean relations, 
so making a five-day visit to our ally was productive and informative. 
I was impressed by how much average Korean citizens know about the 
United States and how much they care about the continued resilience of 
the decades-old friendship between our two countries.
  If nothing else, I came away more convinced than ever of the 
importance of ratifying the U.S.-Korea Free Trade Agreement at the 
earliest opportunity possible. I saw how businesses and consumers in 
both Korea and the United States will benefit by implementation of the 
agreement, and it became quite clear that this will take us a long way 
toward President Obama's goal of doubling U.S. exports by 2014.
  What's more, I could see how increasing the already booming trade 
between the United States and South Korea will enhance our security 
relationship and improve the stability of the Korean Peninsula and, 
indeed, of the entire Northeast Asian region.
  In the months since the United States and Korea signed their revised 
and updated Free Trade Agreement last December, the Korean government 
has approved a similar trade pact with the European Union, which is 
scheduled to take effect on the first day of July this year. Korea is 
also negotiating a free trade treaty with Australia, and it already has 
a volume of trade with China of approximately $200 billion per year.
  I realize there are some who argue that this agreement should be 
passed as part of a package, along with pending agreements with 
Colombia and Panama. These arguments may have some merit, but they do 
not persuade me that delaying the Korea-U.S. FTA is a good idea.
  Mr. Speaker, I would like to encourage my colleagues to move as 
quickly as possible to ratify the Korea-U.S. Free Trade Agreement as 
soon as it comes before us for consideration.

                          ____________________