According to a white paper released by the American Meat Institute this week passing and implementing the three pending free trade agreements with Colombia, Panama and South Korea would mean an additional $2.3 billion in meat and poultry exports and the potential creation of more than 29,000 new jobs. Data shows passing the agreements could increase U.S. beef exports by $1.4 billion, pork by $772 million and poultry by $102 million. This growth would translate to jobs including an estimated 18,000 in the beef industry alone.
American Meat Institute President and CEO Patrick Boyle says it's clear the road to robust job and economic growth lies in expanding the nation's export markets. He notes trade expansion deals between the U.S. and South Korea, Panama and Colombia have been awaiting approval from Congress for years, causing the U.S. to lose market share. According to Boyle the U.S. has millions of increasingly affluent, potential customers with meat and poultry consumption rising in many nations around the world as a result of economic development and population growth.
Boyle adds other major exporting nations will fill the plates of potential U.S. customers if the U.S. doesn't. The value of exported meat, poultry and related products were approximately $11.7 billion last year - up $2.3 billion from 2007. Boyle says the trade agreements need to be passed and the nation needs to move forward on expanding export markets as well as exploring new trade opportunities to realize its full potential.
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