Governor Camacho Hopes Korea Free Trade Agreement Includes Benefits for Guam

181

Guam – Governor Felix Camacho today [Sunday] issued a statement expressing his hope that the Korea Free Trade Agreement will include benefits for Guam.

The White House on Saturday announced that an agreement had been reached on the U.S. Korea Free Trade Agreement (KORUS FTA).

In his statement the Governor says that his administration has been seeking inclusion of Guam and the other U.S. territories in the U.S. Korea Free Trade Agreement  “as a way to diversify our respective island economies.”

In particular, the Governor says that “agreement may benefit Korean tourism from Guam.”

Governor’s Spokesman Shawn Gumataotao explained that “KORUS addresses elimination and reduction on US exports of cars, manufacturing, energy and environmental services to financial services and distribution (where Guam will benefit by proximity to Korea), agricultural products, access to the $100 billion Korean government procurement market, labor rights and environmental protection.”

“The KORUS should not be confused with the Visa Waiver that the US gave Korea sometime last year.  They pass over Guam to go to the US
Mainland as visitors-though we do still get our share of visitors (#2market and growing).”


The Governor’s Statement is reprinted in full below:

“I am encouraged by the Agreement and I remain hopeful that as U.S. nationals, all KORUS commitments will apply to our island.

Since 2007, my administration has sought the inclusion of Guahan and the other U.S. Territories into the U.S. Korea Free Trade Agreement as a way to further diversify our respective island economies.

As America benefits from exporting goods to Korea, Guam should benefit as well. The agreement may positively affect our Korea-Guam bound tourism market and the flow of resources to our island as a result of military bases located in Korea.

I will work with the Calvo Administration and the Office of the U.S. Trade Representative to ensure that upon approval by the U.S. Congress, the KORUS FTA is amended to include new members or territories such as Guahan and other U.S. Territories.”