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Farm Events: |
Farm News: WI Corn Growers Happy FTA's Are MovingcommentsPosted: 10.05.2011
The Wisconsin Corn Promotion Board applauds the Administration for finally submitting the long standing Colombia, Korea and Panama Free Trade Agreements (FTAs) for ratification by Congress.
“All three free trade agreements provide significant opportunities for U.S. agriculture by immediately eliminating import duties on the vast majority of U.S. agricultural commodities, such as corn and distillers’ grains from ethanol plants,” stated David Adams, president, Wisconsin Corn Promotion Board, Lake Geneva.
Global trade is important to Wisconsin farmers. According to USDA’s Foreign Agricultural Service, Wisconsin feed grain exports to all countries totaled $379 million of the total $2.2 billion in agricultural products exported during 2009.
According to government and industry estimates, the three FTAs will result in $2.5 billion in additional sales and lead to the creation of over 20,000 jobs, which are critical to creating economic growth and employment for U.S. citizens.
“Each of these countries is an important market for corn and distillers’ grains for feed, and the FTAs offer significant opportunities for growth,” Adams relates.
Even with implementation of the FTA, WCPB, by partnering with the U.S. Grains Council, will have to immediately re-engage and work aggressively to rebuild U.S. partnership with the Colombian officials, trade authorities and end-users to regain market share with one of the fastest growing economies in South America for coarse grains.
“Ratifying of these FTAs will solidify our ongoing efforts to enhance each country’s ability to meet the needs of their growing middle class and supply high-quality protein products at low cost to their consumers, said USGC Chairman Dr. Wendell Shauman.
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