Virginia and Korea – A Growing Partnership

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A Korea-United States Free Trade Agreement (KORUS FTA) has the potential to increase trade between the United States and Korea, improving an already strong relationship. Virginia in particular stands to gain from increased business ties, as the KORUS FTA will support jobs in the State through increased market access for the State’s exports of both goods and services, and reduced costs for raw materials imported by Virginia’s manufacturers.

TOP EXPORT CATEGORIES (Millions)

Bituminous coal $58.8
Certain kraft paper 27.4
Integrated circuit memories 18.3
Artificial filament tow 17.9
Beauty and skin care products 8.1
Textile wading 6.1

AT $277 MILLION IN 2009, KOREA IS VIRGINIA’S 14th LARGEST EXPORT MARKET

Upon implementation of the KORUS FTA, three-quarters of Virginia’s exports to Korea will be duty-free. This tariff elimination gives Virginia exporters a $4 million cost advantage over similar products exported by competitors who do not have an FTA with Korea.

The KORUS FTA Would Help Virginia Workers Across the State by Opening Foreign Markets and Lowering Costs

For additional company stories, see the Business Roundtable's interactive map at: http://korea.businessroundtableinteractives.org

CONTACT:

Brigitte Schmidt Gwyn, Senior Director, Congressional Relations
Business Roundtable
202.496.3263, bgwyn@businessroundtable.org

Date	Title	Description
04/10/2013	Background Paper on Conflict Minerals Disclosure Rule	Section 1502 of the “Dodd-Frank Wall Street Reform and Consumer Protection Act” (Dodd-Frank Act) directs the U.S. Securities and Exchange Commission (SEC) to promulgate regulations regarding the use of conflict minerals from the Democratic Republic of Congo (DRC) and adjoining countries.
04/10/2013	Taking Action on Immigration	The time has come for realistic immigration solutions that will both strengthen national security and boost economic growth. America needs an immigration system that places more resources toward enforcement of laws, produces a more dynamic and skilled labor force, and enables U.S. businesses and workers to compete more effectively in the global marketplace. Getting reform right is essential to a healthier economy — accelerating growth, encouraging hiring and creating jobs.
04/09/2013	Reauthorization of the Workforce Investment Act	As Congress moves forward with the long-overdue reauthorization of the Workforce Investment Act (WIA), Business Roundtable encourages policymakers to embrace the following principles to ensure a far more effective and efficient workforce investment system in this nation.
04/08/2013	Background Paper on OTC Derivatives End-User Exemption	Regulations implementing “Dodd-Frank Wall Street Reform and Consumer Protection Act” (Dodd-Frank Act) provisions that impact end-users of derivatives need to be carefully tailored so that they do not disrupt risk-management practices that pose no systemic risk to the economy.
03/04/2013	Background Paper on Keystone XL Pipeline Project	The State Department is responsible for issuing “presidential permits” for cross-border pipelines. In the past, such as the case with Enbridge’s Alberta Clipper pipeline, permits have been granted with little or no controversy.
1 2 3 > Last »

Date

Title

Description

04/10/2013

Background Paper on Conflict Minerals Disclosure Rule

Section 1502 of the “Dodd-Frank Wall Street Reform and Consumer Protection Act” (Dodd-Frank Act) directs the U.S. Securities and Exchange Commission (SEC) to promulgate regulations regarding the use of conflict minerals from the Democratic Republic of Congo (DRC) and adjoining countries.

04/10/2013

Taking Action on Immigration

The time has come for realistic immigration solutions that will both strengthen national security and boost economic growth. America needs an immigration system that places more resources toward enforcement of laws, produces a more dynamic and skilled labor force, and enables U.S. businesses and workers to compete more effectively in the global marketplace. Getting reform right is essential to a healthier economy — accelerating growth, encouraging hiring and creating jobs.

04/09/2013

Reauthorization of the Workforce Investment Act

As Congress moves forward with the long-overdue reauthorization of the Workforce Investment Act (WIA), Business Roundtable encourages policymakers to embrace the following principles to ensure a far more effective and efficient workforce investment system in this nation.

04/08/2013

Background Paper on OTC Derivatives End-User Exemption

Regulations implementing “Dodd-Frank Wall Street Reform and Consumer Protection Act” (Dodd-Frank Act) provisions that impact end-users of derivatives need to be carefully tailored so that they do not disrupt risk-management practices that pose no systemic risk to the economy.

03/04/2013

Background Paper on Keystone XL Pipeline Project

The State Department is responsible for issuing “presidential permits” for cross-border pipelines. In the past, such as the case with Enbridge’s Alberta Clipper pipeline, permits have been granted with little or no controversy.

1 2 3 > Last »

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