ITI Marks 10th Anniversary of United States-Korea Free Trade Agreement
WASHINGTON – Today, global tech trade association ITI issued the following statement marking the 10-year anniversary of the United States-Korea Free Trade Agreement (KORUS) on March 15.
“The United States-Korea Free Trade Agreement (KORUS) is a landmark pact that continues to provide significant trade benefits to the U.S. and South Korea,” said ITI’s Executive Vice President of Policy, Rob Strayer. “While the U.S.-Korea economic relationship has undoubtedly been strengthened because of KORUS, there are still opportunities to enhance bilateral ties 10 years after its historic implementation. We encourage the two governments to work together to remove ongoing non-tariff barriers to trade for companies operating in Korea, such as certification requirements that impede global cloud service providers from delivering best-in-class products to Korean public sector agencies and proposed network usage fees that are inconsistent with international best practices. As KORUS enters its second decade, our industry looks forward to working with the Biden Administration and Korea’s incoming President Yoon Suk-yeol and his administration to advance this critical trade relationship.”
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