US Chamber Leader Urges Congress to Ratify FTA Soon
By Jane Han
Staff Reporter
The United States Congress must promptly ratify the free trade deal with South Korea within this calendar year as other pressing items on its agenda could hinder the process, a visiting U.S. business association official said Tuesday.
``We'll see a crowded legislative calendar next year, along with the presidential campaign heating up as well,'' said Myron Brilliant, vice president for Asian affairs at the U.S. Chamber of Commerce in Washington, implying that such factors could take away attention and urgency from the bilateral trade pact.
Brilliant, who is also serving as president of the U.S.-Korea Business Council, came to Seoul Monday to meet with senior government officials and members of the National Assembly to discuss the legislative approval processes of the KORUS free trade agreement (FTA) both in the U.S. and Korea.
``The polling is positive here and I'm sensing other optimism among the people I've met with,'' Brilliant said. ``But there's certainly concern about the talks over renegotiation.''
He stressed that such discussions won't bring entirely new changes to the deal, but they will work to clarify existing parts and resolve pending issues, including the beef issue.
``The end of an administration creates challenges and we never know what will come up, which is why the ratification process must be sped up,'' he said.
Along with U.S. business leaders in banks, insurance and pharmaceuticals, Brilliant recently signed a joint letter to Congress in late April to urge speeding up of the ratifying schedule.
``We do not want the deal to drift and if it's going to be done why wait?'' the chamber leader said. ``Let's put the tariff cuts in place and increase trade.''
He also underlined that the landmark deal between the two countries is symbolic for the U.S., ahead of other deals with Colombia, Panama and Peru, as it would be beneficial for Washington to show that it promptly takes care of lingering trade business.
``It's symbolic in many ways because Korea is commercially the most vibrant and it also carries a larger meaning in a political and security spectrum,'' Brilliant added.