Hoeven Outlines Asian Trade Opportunities for Bismarck-Mandan Chamber of Commerce

U.S.-Korea Free Trade Agreement, N.D. Trade Office-India Mission Can Open Doors for North Dakota Products and Services

BISMARCK, N.D. – Senator John Hoeven today briefed members of the Bismarck-Mandan Chamber of Commerce on his recent trade mission to Asia, stressing the importance of the U.S.-Korea Free Trade Agreement and the significant opportunities emerging in both India and Korea for North Dakota products and services. Hoeven returned Saturday from a trip to South Korea, India and Afghanistan with Sen. Minority Leader Mitch McConnell to promote trade and review U.S.-Asian security issues.

In addition to Hoeven and McConnell, the congressional delegation included Senator Mike Johanns (R-NE), former U.S. Department of Agriculture Secretary; Senator Robert Portman (R-OH), former U.S. Trade Representative and Director of the Office of Management and Budget; and Senator Jerry Moran (R-KS), who serves with Hoeven on the U.S. Senate Appropriations Subcommittee on Agriculture and Rural Development.

The complete presentation Senator Hoeven delivered to the Chamber is available at the following link: www.hoeven.senate.gov.

U.S.-SOUTH KOREA FREE TRADE AGREEMENT

In South Korea, Hoeven met with President Lee Myung-bak and Foreign Minister Kim Sung-hwan to promote the U.S.-Korea Free Trade Agreement now awaiting ratification by the President and approval in the U.S. Senate.

The proposed agreement will eliminate or reduce Korean tariffs on U.S. autos, manufactured goods, and agricultural products to South Korea’s 49 million consumers. Ratification of the pact will eliminate more than 85 percent of the tariffs between the United States and the Republic of Korea, and is expected to increase U.S. exports to that country by more than $10 billion. It would also phase out a 40 percent Korean tariff on American beef, making it more affordable to consumers and more cost effective for producers. In addition, it would open new markets for American services in South Korea, including energy.

“The U.S.-South Korea Free Trade Agreement will increase the level of commerce between the United States and Korea, which has a $1 trillion economy and is already our eighth largest trading partner,” Hoeven said. “From the U.S. perspective, it eliminates tariffs and opens Korean markets to more American products and services, including agricultural and manufactured goods, which will benefit North Dakota. Most importantly for our state and our nation, increased trade with Korea will help to create new opportunities for American businesses and new jobs for American workers at a time when they are greatly needed.”

OPENING THE DOORS OF TRADE WITH INDIA

Senator Encourages Trade Mission to India through the N.D. Trade Office

In New Delhi Hoeven discussed ways to enhance trade relations between North Dakota and India with Indian Minister of Home Affairs P. Chidambaram and Indian Minister of Commerce and Industry Anand Sharma, as well as a group of high-level Indian business leaders. India has a large and expanding middle class of approximately 50 million people, which is estimated to grow ten-fold by 2025. It also has a well-educated workforce and a growing demand for U.S. goods.

At a meeting of the Confederation of Indian Industry (CII), an organization similar to the U.S. Chamber of Commerce, Hoeven proposed organizing a U.S.-India trade mission between CII and the North Dakota Trade Office to partner North Dakota and Indian companies led by ND Trade Office Director Dean Gorder and Hoeven’s State Director and former Commerce Commissioner Shane Goettle.

“With 1.2 billion people, India is the second most populous nation in the world,” Hoeven said. “With an average economic growth rate of about 9 percent, the country’s growing consumer base represents an enormous market for American and North Dakotan goods and services. Creating a better environment for mutual trade could generate real business opportunities and jobs for American workers.”

AFGHANISTAN WAR UPDATE

Hoeven and the delegation also met in Kabul, Afghanistan with Afghan President Hamid Karzai; Commander of the International Security Assistance Force (ISAF) in Afghanistan General David Petraeus; U.S. Ambassador to Afghanistan Karl W. Eikenberry; and other top government and military leaders to discuss the progress of the war in Afghanistan.

Both General Petraeus and Ambassador Eikenberry indicated clearly in their briefings that the objective in Afghanistan is to build Afghan forces to a level where they can secure and govern themselves. The current timeline calls for the drawdown of U.S. and NATO troops between the summer of 2011 and 2014, based on conditions on the ground. Following the briefing, Senator Hoeven had opportunity to meet with President Karzai to discuss this timeline and the president expressed his commitment to achieving it.

In addition, Hoeven reviewed the Kabul Military Training Center (KMTC) outside the city, where he met with U.S. soldiers, including native North Dakotans. The Center’s mission is to recruit, equip, and train the Afghan National Army.

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