[Congressional Record Volume 157, Number 152 (Wednesday, October 12, 2011)]
[Extensions of Remarks]
[Page E1836]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      UNITED STATES-KOREA FREE TRADE AGREEMENT IMPLEMENTATION ACT

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                               speech of

                        HON. GERALD E. CONNOLLY

                              of virginia

                    in the house of representatives

                       Tuesday, October 11, 2011

  Mr. CONNOLLY of Virginia. Mr. Speaker, ratification of the Korea-U.S. 
Free Trade Agreement--or KORUS--is economically important, for the 
nation and for my home state of Virginia. According to the U.S. 
International Trade Commission, U.S. exports to South Korea would 
increase by more than $10 billion. Increased U.S. exports mean more 
U.S. manufacturing jobs.
  Korea is the 14th largest export market for Virginia goods, and the 
trade agreement would strengthen that relationship. Upon implementation 
of KORUS, Virginia exporters would have a $4 million cost advantage 
over similar global competitors without a Korean agreement. Eight out 
of Virginia's ten top exports would enter Korea duty free immediately.
  The U.S. tech industry, which has a significant presence in Northern 
Virginia, also stands to gain from KORUS. According to industry groups, 
exports from the U.S. to South Korea could increase by up to 49 
percent. Korean businesses have a strong presence in Virginia and we 
must ensure that businesses in Virginia and throughout the nation have 
equal access. I urge my colleagues to support the Korean Free Trade 
Agreement.

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