FTAs With Colombia, Panama and South Korea Gain Momentum

While most eyes in Washington were focused on the stalemate and finally the agreement to raise the federal debt ceiling, another story was developing. After almost four years of wrangling, it appears that the U.S. Senate and Congress will be ready to pass pending free-trade agreements (FTAs) with Colombia, Panama and South Korea. It looks like the measures will be passed when Congress returns to Washington in September.

Florida Republican U.S. Rep. Vern Buchanan, chairman of the Panama Caucus and a strong supporter of the agreements, weighed in on Monday and pointed to a report from the U.S. International Trade Commission that the agreements could lead to an additional $10 billion to the U.S. GDP and 250,000 new jobs.

Passage of these long-stalled FTAs will be a major win for Florida, said Buchanan. Creating jobs and growing the economy are the most important issues facing us today. If we expand our exports, it will help Floridas economy as we send our goods, services and products to people around the world.In turn, this will help generate new jobs right here in our backyard.

Florida faces a once-in-a-generation opportunity to transform its economy by becoming a global hub for trade, logistics, service and export-oriented manufacturing activities, said Mark Wilson, president and CEO of the Florida Chamber of Commerce. The passage of the free-trade agreements will enhance our relationship and create new trade and job opportunities for the people of Florida.