AAIA Congratulates Obama Administration on Concluding U.S.-Korean Free Trade Pact
BETHESDA, MD – December 6, 2010 – The Automotive Aftermarket Industry Association (AAIA) congratulated President Obama, U.S. Trade Representative Ron Kirk and the U.S. negotiating team, for successfully completing a U.S.-Korea Free Trade Agreement (FTA) that boosts growth opportunities for companies and workers in the U.S. aftermarket and other sectors. The FTA was completed Dec. 3, and the new Congress, seated next month, will address the legislation needed to implement the agreement.
“U.S. negotiators worked tirelessly to ensure the reciprocal benefits of the accord, which is great for our world-class aftermarket companies, who compete exceptionally well, whenever tariffs and other trade barriers fall,” said Kathleen Schmatz, AAIA president and CEO.
“AAIA supports President Obama’s National Export Initiative (NEI) goal of doubling U.S. exports over five years, and the increased U.S. access to Korea’s booming vehicle parts markets, as well as completion of the Anti-Counterfeiting Trade Agreement, can both prove helpful in meeting that goal,” said Schmatz.
“Congress and the administration should now redouble U.S. efforts to conclude the Doha Round of the World Trade Organization (WTO) trade talks. Vehicle ownership is growing worldwide, and WTO tariff cuts and other market opening measures could spur global consumer demand for quality aftermarket products made by American workers,” Schmatz said.