The Montana Farm Bureau Federation (MFBF) is praising the Congressional ratification of three bilateral free-trade agreements between the United States and Korea, Colombia and Panama, as well as approval of Trade Adjustment Assistance.
“Passage of this agreement is a real boon for Montana’s farmers and ranchers,” says MFBF President Bob Hanson. “Whether you’re a grain farmer or a cattle rancher in Montana, these trade agreements open up new markets and it’s about time.”
The three agreements in total are expected to increase direct exports from Montana alone by $26.9 million per year. “The South Korean agreement would mean more than $12 million per year to the Montana beef industry and Columbia would equate to nearly $7 million in wheat trade per year for Montana alone,” the White Sulphur Springs rancher said. “It is estimated that the increased marketing opportunities for Montana’s farmers and ranchers will add nearly 250 jobs. Nationally, the three FTAs represent nearly $2.5 billion in new agriculture exports for America’s farmers and are expected to create economic growth that could generate support for up to 22,500 U.S. jobs.”
The American Farm Bureau Federation (AFBF) has also been working hard pushing for the passage of these agreements. “Now that Congress has approved all the components of the trade package, swift implementation is critical so we can restore a level playing field for U.S. farm exports to these three nations,” notes AFBF President Bob Stallman.
“Over the past four years, Korea, Colombia and Panama have opened their doors to our competitors,” Stallman explained. “Congress and the administration have now given us the opportunity to improve our competitive position in these markets. The economic growth generated from the agreements will improve our economy and create jobs here at home,” he said.
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