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September 17th, 2010

Branstad proposes creating Expanded Trade Agency, opening South Korean trade office

Branstad’s goal is to grow Iowa’s exports by 20% over the next five years to create nearly 13,000 new jobs
Former Gov. Terry Branstad today unveiled his latest job creation policy, focusing on trade by opening an Expanded Trade Agency (ETA) within the Iowa Partnership for Economic Progress he proposed last month.

The proposal is found here.

Additionally, Branstad proposed opening a South Korean trade office for the state, adding that Congress and President Obama need to pass the Korea-U.S. free trade agreement and open South Korean markets for Iowa’s products.

Under the Korea-U.S. agreement, exports of US pork are expected to grow from $215M to $870M a year – with much of that growth coming from Iowa farms that are some of the largest producers of high quality pork products in the world.

While waiting for federal action, the ETA will coordinate a trade delegation, led by Governor Branstad, to South Korea.  The focus will be to sell Iowa agriculture products to the Korean marketplace

“Farmers have been waiting for three years, and can’t afford to wait much longer,” said Branstad. “Therefore, if I am elected governor, I will organize and lead an effort of governors from agriculture states to persuade Congress to ratify the KORUS agreement and open the Korean agriculture market to Iowa pork.”

Branstad also supports the mutual tariff elimination and lowering the transactional and opportunity costs of foreign trade.   He added that it is not enough to support these changes; we must be actively engaged to bring the needed change about.

“I will task the Expanded Trade Agreement to work as a facilitator between the manufacturers, Iowa’s members of Congress, and the federal government to identify import and export problems, find solutions, and put pressure on federal decisions makers to effect change,” Branstad added.

Branstad’s goal is to grow Iowa’s exports by 20% over the next five years to create nearly 13,000 new jobs.

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