WASHINGTON, DC, OCTOBER 12, 2011 – The Association of Global Automakers (Global Automakers) applauded Congressional action today that approved the long-awaited U.S. free trade agreements with South Korea (KORUS), Colombia and Panama. As the trade association that represents 15 international motor vehicle manufacturers, Global Automakers has long supported these trade agreements, especially the KORUS.
“We are extremely pleased with Congress in passing these three free trade agreements,” said Michael J. Stanton, president and CEO of Global Automakers. “Ratification of KORUS will boost trade and investment opportunities for automobile manufacturers in both countries.”
U.S. open trade and investment policies have encouraged international automakers to invest more than $43 billion in U.S. auto production, R&D and sales. Global Automakers’ members have a combined U.S. domestic production capacity of 4.2 million vehicles and directly employ 80,000 Americans, plus an additional 500,000 jobs at dealerships and suppliers across the United States.
“The passing of KORUS will enhance trade, production and jobs in both countries and is a win-win for all,” said Stanton.
The Association of Global Automakers represents international motor vehicle manufacturers, original equipment suppliers, and other automotive-related trade associations. We work with industry leaders, legislators, and regulators to create the kind of public policy that improves vehicle safety, encourages technological innovation, and protects our planet. Our goal is to foster a competitive environment in which more vehicles are designed and built to enhance Americans’ quality of life. For more information, visit www.globalautomakers.org.
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