Columbia International Affairs Online: Policy Briefs

CIAO DATE: 09/2011

Korea, Colombia, Panama: Pending Trade Accords Offer Economic and Strategic Gains for the United States

Mauricio Cárdenas, Joshua Meltzer

July 2011

The Brookings Institution

Abstract

A trio of trade agreements now pending before Congress would benefit the United States both economically and strategically. Carefully developed accords with South Korea, Colombia and Panama will boost U.S. exports significantly, especially in the key automotive, agricultural and commercial services sectors. Among the other benefits are: * increased U.S. competitiveness * enhancement of U.S. diplomatic and economic postures in East Asia and Latin America * new investment opportunities * better enforcement of labor regulation and * improved transparency in these trading partners’ regulatory systems.