WASHINGTON, DC, OCTOBER 4, 2011 – The Association of Global Automakers (Global Automakers) commends President Obama for moving the approval process forward on the Korea-U.S. Free Trade Agreement (KORUS FTA) by presenting it to Congress. Ratification of the KORUS FTA will significantly expand trade and investment opportunities for automobile manufacturers and also benefit consumers in both nations.
“The auto industry is united as never before in support of the KORUS FTA in recognizing the economic benefits this agreement will bring,” said Michael J. Stanton, president and CEO of Global Automakers. “We urge Congress to approve quickly this historic free trade agreement.”
Global Automakers also supports the prompt approval of the pending free trade agreements with Panama and Colombia and sent a letter to Congress today urging quick action on all three trade pacts.
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.
“Free trade and open investment policies like the KORUS FTA can only help move our economy and the auto industry forward,” 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.
FOR IMMEDIATE RELEASE
CONTACT: Annemarie Pender
202.650.5548 | email@example.com