Moreover, this agreement will eliminate significant non-tariff market access barriers in Korea to U.S. goods, services, and investment. Consumers in both countries stand to gain from the broad benefits of this agreement.
This agreement includes robust provisions on transparency, intellectual property rights, competition, investment, and other rules, particularly in the area of services, that will protect U.S. interests. It also has important implications beyond bilateral trade and investment.
By giving U.S. exporters and investors a preferential position in the world's tenth-largest economy, an FTA with Korea will enhance U.S. businesses' ability to compete in the dynamic Northeast Asia regional economy. From a strategic vantage point, the FTA will reinforce the critical partnership and alliance between our two countries.
The reopening of Korea's market to U.S. beef imports remains an outstanding issue for Coalition members. We urge Korea to reopen its market to U.S. beef consistent with the World Organization for Animal Health (OIE) guidelines so that this agreement can move forward. In that regard, we welcome the Korean government's public commitment to uphold the recommendations of the OIE, and we strongly urge Korea to move immediately upon the OIE decision.
The U.S.-Korea FTA stands to bring real benefits for U.S. workers and businesses, and will promote our two countries' economic leadership in the region by demonstrating that America is ready to embrace new opportunities in an increasingly competitive global environment.
The members of the Coalition look forward to working with you to obtain passage of this historic agreement, and then with the Administration to ensure Korea's full and faithful implementation of all of the commitments contained in it.
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