ONE FTA AFTER ANOTHER:

Support Korean free trade pact (Alan K. Simpson, September 14, 2007, Washington Times)

The Republic of Korea (South Korea) and the United States have much to offer each other. Korea is one of the world's fastest-growing economies and has the 12th largest gross domestic product (GDP) in the world. The nation is already our seventh-largest trading partner, and passage of the FTA will substantially expand U.S. access into the vibrant and modern Korean economy.

A dramatic spike in U.S. foreign direct investment is one surefire result of this agreement. By opening its markets to U.S. investors and affording necessary legal and investment protections for U.S. companies, Korea invites much increased U.S. corporate activity within its markets. For the United States, this means economic growth, as the largest market for U.S. exports is foreign-based subsidiaries of U.S. companies.

With strong protections for U.S. intellectual property rights, strong provisions pushing for greater transparency in Korean markets, the elimination of tariff and nontariff barriers to many U.S. exports and investment, and legal protection against unfair expropriation, the FTA is a guarantee of economic opportunity for many American sectors.