Boustany Questions U.S. Trade Rep. Amb. Kirk At Ways And Means Hearing

Washington, D.C. – U.S. Representative Charles

W. Boustany, Jr., (R-Southwest Louisiana), today discussed President Obama’s trade policy with U.S. Trade Representative Ambassador Ron Kirk at a Ways and Means full committee hearing. Boustany focused on the absence of rice from the pending South Korea Free Trade Agreement (FTA), citing the importance of the crop to Louisiana trade.

“I view the Korea-U.S. Free Trade Agreement as the beginning of the process, NOT the end,” Boustany told Kirk at the hearing. “I hope you will commit to continuing to fight for greater Korean market access for U.S. rice and other commodities that may have been left out of this agreement.”

Boustany once again pressed for the prompt passage of all three pending FTAs – Columbia, Panama, and South Korea – emphasizing their importance to American farmers and rural communities. The agreements would benefit Louisiana, where agriculture products accounted for $8.7 billion in exports for the January to September 2010 period. Opening these markets would create thousands of U.S. jobs and open new markets for American goods and services.

Additionally, Boustany discussed the importance of a bilateral investment treaty (BIT) with China, which would give U.S. companies better legal and financial protections. “We may soon fall even further behind as the European Union recently announced that it intends to begin investment treaty negotiations with China in the near-to-medium term,” Boustany said. “One Louisiana company is having problems collecting payments on nearly $3.7 million worth of products sold to China. I believe having a robust bilateral investment treaty with China would give this particular business greater resources and tools to enforce their case and collect the money owed to them. Many of our competitors have such a BIT in place with China, yet we do not have this basic advantage.” Louisiana is currently America’s fourth largest exporter to China with over $2.7 billion in exports through the third quarter of 2010.

“We must have a more aggressive trade agenda – one that creates jobs here at home, opens new markets, and expands our exports,” Boustany said.

Filed Under: Ways And Means Hearing