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March 21, 2006
TROY brings businesses together to discuss free trade with South Korea
TROY – Doing business with South Korea is the focus of a Troy University-sponsored meeting March 29 in Montgomery.
Sean Connell, director of the Japan and Korea Division of the U.S. Chamber of Commerce and executive director of the U.S. – Korea Business Council will discuss the ramifications of the U.S. Free Trade Agreement with the Republic of Korea on area businesses, said Sandra Lucas, interim director of the TROY Center for Business and Economic Services.
The University is co-sponsoring the seminar with the Alabama International Trade Center, the Alabama World Trade Association and the Alabama Development Office. “Alabama and Korea – Partners in Business” will be from 1:30 p.m. until 4:30 p.m. at TROY’s Rosa Parks Library and Museum.
Connell’s remarks will be followed by a panel discussion of experiences and opportunities with panelists Jay Townsend, Balhae Business Consulting of Montgomery, and Koo Young Kim, director general of the Korea Trade Center in Dallas, Texas.
Lucas said the seminar made sense for Alabama businesses and entrepreneurs.
“Removing trade and investment barriers between our two nations through an FTA will increase market access for businesses to the dynamic and growing Korean economy,” she said.
During February 2006, U.S. Trade Representative Rob Portman announced the Bush Administration’s intent to negotiate a free trade agreement with the Republic of Korea with the goal of removing tariffs and non-tariff barriers, and expanding trade between the countries. Korea is the world’s 10th largest economy with an annual gross domestic product rapidly approaching $1 trillion and is Alabama’s 7th largest export market.
According to ADO, Alabama companies shipped $10.8 billion of manufactured products to foreign companies in 2005 and exports from companies located in the state increased 19.5 percent over 2004 levels. More than 260 foreign manufacturers from 25 countries operate in Alabama.
“The TROY and AWTA program will highlight the benefits of doing business with Korea – one of the state’s top trade and investment partners,” AWTA President Brian Davis said. “Companies interested in building business relationships with Korea should attend to learn how the proposed U.S. – Korea Free Trade Agreement will create new job opportunities in Alabama.”
The cost to attend the seminar is $35, and checks should be made payable to Troy University, Center for Business and Economic Services, 102 Bibb Graves Hall, Troy University, Troy, Alabama 36082. For more information, contact the Center at 334-670-3771.
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Contact:
Clif Lusk or Tom Davis
Troy Office of University Relations
334/670-3196
tomdavis@troy.edu
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