On September 23, U.S. Chamber Senior Vice President for International Affairs Myron Brilliant testified before the House of Representatives Committee on Foreign Affairs on "Job Creation Made Easy: The Colombia, Panama, and South Korea Free Trade Agreements." Other testifying included: Luis Arguello Sr., CEO and President, DemeTech; Drew Greenblatt, President, Marlin Steel Wire Products; and Thea Lee, Deputy Chief of Staff, AFL-CIO.
Making the case for the passage of the pending trade agreements with South Korea, Colombia, and Panama, Brilliant stated: "If the United States is to double exports within five years, the proven export-boosting record of these reciprocal trade agreements will be indispensable. On average, U.S. exports to new FTA partner countries have grown four times as rapidly in the 3-5 year period following the FTA's entry into force as U.S. exports to the world, according to an analysis by the U.S. Chamber. Countries are rushing to negotiate new trade accords - but America is being left behind. In the first month after the entry-into-force of the European Union-Korea Free Trade Agreement on July 1, EU exports to Korea had risen 36% from their level a year earlier. Meanwhile, U.S. exports to Korea increased by just 3% percent in the same period, and U.S. market share in Korea is in decline. U.S. farmers have already lost more than $1 billion in sales to Colombia in the two years since that country implemented a trade deal with Argentina and Brazil."
