Free Trade Update: Korea, Colombia, Panama
On Monday, I offered remarks to approximately thirty staff in the U.S. House of Representatives on the benefits of the U.S.-Korea, U.S.-Colombia and U.S.-Panama Free Trade Agreements (FTAs), along with high-tech industry colleagues from IBM, Microsoft, HP and Intel. It was great to have an opportunity to talk about how Cisco and our customers would be impacted by implementation of these agreements, and for the industry to emphasize the importance of open trade policy to help fuel international competitiveness. Most trade analysts expect Congress to pass the U.S.-Korea FTA first, as American companies would be at a market disadvantage vis-à-vis European-based competitors after July 1, when the EU-Korea FTA goes into effect. Cisco supports passage of all three agreements, and we’re hopeful that the Obama Administration is able to work through any remaining issues on the FTAs with Colombia and Panama as soon as possible.