WASHINGTON –The Nebraska Corn Growers Association and the U.S. Grains Council met today with the Embassy of the Republic of Korea to discuss implementation of the U.S.-Korea Free Trade Agreement, explore ways for both countries to take advantage of it and find opportunities for growth. As long-time supporters of the FTA, U.S. corn farmers already ship an average of $1.9 billion in corn to Korea each year. With the FTA in effect, Korea’s tariff on U.S. feed corn will be locked in at zero. That will help Korean livestock producers to be more efficient.
“Korea and the U.S. are long-standing agricultural partners,” said Kyeong-Kyu Kim, agriculture minister-counselor at the Korean Embassy. “Now, with the passage of the U.S.-Korea FTA, we look forward to seeing our vital strategic alliance continue to grow.”
“The ratification of this critical accord in 2011 solidified the importance of historical trade ties between our two countries and the U.S. industry’s dedication to trade and improving lives,” said Rebecca Bratter, the U.S. Grain Council’s Vice President of International Operations. “The Council’s dedication to working with the Korean feed industry and government officials to improve lives is based on past success. This successful relationship will continue to flourish under the FTA, which demonstrates how when trade works, the world wins.”