Mission statement: The mission of the Hawaii Pacific Export Council (HPEC) is to promote U.S. exports from Hawaii and the American Pacific Islands by supporting the activities of the US Commercial Service and Hawaii Export Assistance Center, counseling businesses on the exporting process, and conducting trade education programs.
|Korea-U.S. Free Trade Agreement (KORUS FTA)|
|Friday, October 14 2011 14:50|
On Thursday October 13, 2011 the U.S. Congress approved free-trade agreements with South Korea, Columbia and Panama - the biggest U.S. free-trade agreement since the North American Free Trade Agreement in 1994. According to the U.S. International Trade Commission the reduction of South Korean tariffs will boost American exports by as much as $10-12 billion in the first year in which it is in full effect. The KORUS FTA removes duties on almost two-third of American farm exports and phases out tariffs on more than 95 percent of industrial and consumer exports within five years.
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