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Original Press Release
NEMA Applauds Announcement of U.S.-South Korea Free Trade Agreement Negotiations
Press release date: Feb 02, 2006
"Ambassador Portman has picked a market with proven potential for U.S. electroindustry exporters," says NEMA President and Chief Executive Officer Evan Gaddis. "Despite its non-tariff barriers and duties typically in the range of 8 percent, South Korea has been one of the U.S. electroindustry's leading trading partners. Breaking down existing barriers through a free trade agreement will serve to further bolster trade and strengthen our already close relationship with South Korea."
During the latest year for which figures are available (2004), U.S. electroindustry exports to South Korea exceeded $600 million, with two-way trade topping $1 billion.
NEMA is the leading trade association in the United States representing the interests of electroindustry manufacturers. Founded in 1926 and headquartered near Washington, D.C., its approximately 430 member companies manufacture products used in the generation, transmission and distribution, control, and end-use of electricity. Domestic shipments of electrical products within the NEMA scope exceed $100 billion. These products are used in utility, industrial, commercial, institutional, and residential installations.
Jason Peak Senior Editor (703) 841-3222 email@example.com