Press Releases
Release Date: April 2, 2007
Contact:
Melissa Buden 646-637-9268 mbuden@sifma.org
SIFMA Commends US-Korea Free Trade Agreement
WASHINGTON, DC, April 2, 2007 -
The Securities Industry and Financial Markets Association (SIFMA) today
applauded the free trade agreement reached between the US and South Korea. If ratified, the agreement will be the
largest trade agreement for the US since the 1994 North American Free Trade
Agreement, and one of the significant bilateral trade pacts for the US
securities industry.
SIFMA commends the US Treasury and the Unites States Trade Representative (USTR) for their hard work in negotiating a trade agreement with a cutting-edge financial services pact that will serve as a catalyst for Korea’s ambitions to be a financial services hub as well as improve opportunities for securities firms and their clients.
“The US-Korea trade agreement underscores the United States’ commitment to furthering economic growth and opportunity by reducing the barriers that deter competition and investment,” said Marc Lackritz, CEO of SIFMA. “Trade agreements such as this are an economic win-win – fueling local industries and economies as well as presenting new opportunities for investors.”
SIFMA looks forward to reviewing final text in coming weeks.
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The Securities Industry and Financial Markets Association brings together the shared interests of more than 650 securities firms, banks and asset managers. SIFMA's mission is to promote policies and practices that work to expand and perfect markets, foster the development of new products and services and create efficiencies for member firms, while preserving and enhancing the public's trust and confidence in the markets and the industry. SIFMA works to represent its members’ interests locally and globally. It has offices in New York, Washington D.C., and London and its associated firm, the Asia Securities Industry and Financial Markets Association, is based in Hong Kong.