Press Release Summary:
NEMA thanked Senate for overwhelming approval of U.S.-Peru Trade Promotion Agreement, following House of Representatives' similar vote. NEMA President and CEO, Evan Gaddis noted that Agreement is in best interest of U.S. electrical equipment exporters due to Lima lifting remaining tariffs, and will also benefit Peru, which will be able to access quality infrastructure products. NEMA now calls on Congress to ratify U.S. free trade agreements with Panama, Colombia, and South Korea.
Original Press Release:
NEMA Hails Peru Free Trade Agreement Approval; Calls for Hill Ratification of Other Negotiated FTAs as Soon as Possible
ROSSLYN, Va., December 6, 2007- The National Electrical Manufacturers Association (NEMA) thanks the Senate for its overwhelming approval this week of the U.S.-Peru Trade Promotion Agreement, following on the House of Representatives' similar vote last month.
"This Agreement is very much in the best interest of U.S. electrical equipment exporters due to Lima lifting its remaining tariffs," noted NEMA President and CEO Evan Gaddis. "Moreover, it will also prove extremely beneficial to Peru, which will enjoy better access to top-quality infrastructure products as it seeks to build its economy and rebuild from its recent severe earthquake."
NEMA now calls on Congress to ratify the other recently negotiated U.S. free trade agreements with Panama, Colombia, and South Korea. As with Peru, the United States already enjoys two-way electrical equipment industry surpluses with each of these trading partners, with the figures likely to improve even further as remaining foreign duties are withdrawn.
NEMA is the trade association of choice for the electrical manufacturing industry. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end-use of electricity. These products are used in utility, medical imaging, industrial, commercial, institutional, and residential applications. Domestic production of electrical products sold worldwide exceeds $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing, Sao Paulo, and Mexico City.
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