Source: Stephanie Henry, The Emergency Committee for American Trade (ECAT), 10/21/11

ECAT APPLAUDS SIGNING OF HIGH-STANDARD TRADE AGREEMENTS WITH COLOMBIA, KOREA AND PANAMAAlso Welcomes Signing of Important GSP and TAA Legislation  Washington, D.C., October 21, 2011:  Calman Cohen, President of the Emergency Committee for American Trade (ECAT), issued the following statement today on the signing by the President of the trade agreements with Colombia, Korea and Panama and legislation to extend the Generalized System of Preferences (GSP) and Trade Adjustment Assistance (TAA): “The Emergency Committee for American Trade (ECAT) welcomes the signing by the President today of the long-awaited trade agreements with Colombia, Korea and Panama.  Once implemented, these agreements will create new opportunities for U.S. manufacturers, farmers and service workers to participate in the markets of each of these important countries, while supporting U.S. economic and job growth here at home.  ECAT applauds the Administration and Congress for securing these high-standard and comprehensive trade agreements, which will reinvigorate our economic relations with each key ally, and benefit American industry and workers for decades to come. “In the days and weeks that follow, ECAT urges the Administration and our three trading partners to move swiftly and diligently towards full implementation of these trade agreements so that they can enter into force and start producing concrete benefits by the beginning of 2012. “ECAT also welcomes the extension of the GSP and TAA programs, which each provide important benefits to the United States – GSP in terms of economic growth and the rule of law in developing economies and TAA in terms of helping, particularly through retraining, American workers who have been negatively affected by shifting trade patterns.   “ECAT looks forward to working with the Administration and Congress to advance on a comprehensive and high-standard basis other ongoing trade initiatives, such as the Trans-Pacific Partnership agreement, so that the United States may reap more of the benefits that trade and investment can provide for the U.S. economy, U.S. workers and U.S. industries.” # # # Founded in 1967, ECAT is an organization of the heads of leading U.S. international business enterprises representing all major sectors of the American economy. Their annual worldwide sales exceed $2.7 trillion and they employ more than 6.2 million persons. ECAT’s purpose is to promote economic growth through the expansion of international trade and investment.