US-Colombia pact may affect Korea-US FTA
Chosun Ilbo, Korea
U.S.-Colombia Pact May Affect Korea-U.S. FTA
10 April 2008
U.S. President George W. Bush on Monday announced a plan to submit a U.S.-Colombia free trade agreement to the U.S. Congress for ratification, despite opposition from the Democratic Party, which is opposing FTA deals. Attention is now drawn to how the U.S. debate on the proposed Colombia deal will affect the Korea-U.S. FTA.
At the White House on Monday, Bush said the FTA with Colombia is important for national security reasons. He urged Congress to pass the deal, saying, "If Congress fails to approve this agreement, it would not only abandon a brave ally; it would send a signal throughout the region that America cannot be counted on to support its friends."
But in a joint statement, Democratic leaders including House Speaker Nancy Pelosi and House Ways and Means Committee Chairman Charlie Rangel expressed opposition to the proposal. "The president’s apparent disregard for the economic insecurity faced by millions of struggling American families highlights a misplaced set of priorities," the statement said.
The U.S. administration is determined to handle the FTAs which it has signed with foreign countries in the order in which they were signed. Thus the administration will probably push for ratification of the Korea-U.S. FTA after first handling pacts with Colombia and Panama.
The South Korean Embassy in Washington expressed concern over the possibility that protracted bickering between the White House and Congress over the Colombia deal could cause problems for the Korea-U.S. FTA.
The Associated Press reported, "While two other agreements with Panama and South Korea are also pending, analysts said the Colombia agreement is likely to be the last one that has any chance of winning approval in Bush’s last year in office."
The Korea-U.S. FTA will likely face a tough road if Senators Hillary Clinton and Barack Obama, who have made FTAs a major campaign issue in this year’s presidential election, compete with each other to take the lead in opposing the Colombia deal.
