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KITA Sends Letter to 1,000 Opinion Leaders in US on Protectionism

Written: 2016-09-12 11:06:07Updated: 2016-09-12 12:32:51

KITA Sends Letter to 1,000 Opinion Leaders in US on Protectionism

The Korea International Trade Association(KITA) has sent a letter to about one-thousand opinion leaders in the United States to express concern that trade protectionism based on inaccurate information may undermine bilateral relations between South Korea and the U.S.

The KITA, with members from some 71-thousand companies, said in the letter that some people in the U.S. are attacking the South Korea-U.S. free trade agreement, citing numbers and data which they don’t even understand themselves. The letter said, meanwhile, that the two nations have mutually benefited from the deal in terms of lower prices, increased investment, job creation and consumer benefits.

It stressed that the FTA benefits both sides, citing that U.S. exports of services to South Korea continuously increased and South Korean firms’ investment in the U.S. rose 56 percent over a period of four years since the deal was concluded.

The letter was sent to U.S. Senate and House representatives, governors, top officials at trade-related departments, chiefs of business organizations and scholars and officials at election offices of U.S. presidential candidates.

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