USTR Update on Implementation of Korea, Colombia, Panama FTAs
On January 6, 2012, the Office of the U.S. Trade Representative issued another update on implementation efforts for the free trade agreements with Korea, Colombia, and Panama. Among other things, the parties are meeting, exchanging documents, and analyzing each others’ laws and regulations.
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Meeting with Korean Officials Jan 9-10 to Discuss Each Others’ Regs, Laws
According to USTR, it will be holding working-level meetings with Korea on January 9-10, 2012 in Seoul to continue discussions related to implementation of the U.S.-Korea trade agreement. The delegations will discuss each other’s respective laws and regulations related to implementation of the trade agreement.
Receiving & Translating Materials from Colombia and Panama
USTR is continuing to receive and translate materials from Colombia and Panama regarding steps necessary to bring those agreements into force.
FTA Implementation Steps Previously Outlined by USTR
USTR has previously outlined the following steps toward FTA implementation:
- Ratification. The parties’ legislatures must ratify the FTAs, which has occurred in all involved countries.
- Cooperative implementing work. Cooperative work is scheduled with the parties on implementing the FTAs. The U.S. will hold discussions with the partner countries to review both countries’ laws and regulations, and ensure compliance with the obligations of the FTA that will take effect on the day the FTA enters into force. U.S. officials will also consult with Congress and with U.S. stakeholders.
- Compliance. Each partner country must demonstrate that it is in compliance with those obligations that will take effect on day one in order for the FTAs to enter into force.
- Labor Action Plan. In the case of Colombia, the Administration will also ensure that Colombia has successfully implemented key elements of the Labor Action Plan before bringing that agreement into force.
- Exchange of diplomatic notes. The provisions of the FTAs provide for entry into force through the exchange of formal diplomatic notes at a time agreeable to both countries. In the U.S., the President must first determine that the trading partner has come into compliance with obligations that will take effect when the agreement enters into force.
- Proclamation for tariff changes, etc. The FTA implementing bills contain all changes to U.S. law necessary to bring the U.S. into compliance with the agreements. In addition to these changes in U.S. law, for each FTA, the U.S. will issue a proclamation containing specific tariff revisions and product-specific rules, and make additional administrative and regulatory changes covering issues such as customs and procurement.
(See ITT’s Online Archives 11112862, 11120624, 11122116, 11122219 for previous summaries of USTR updates on implementation of the three FTAs.
See ITT’s Online Archives 11102103 for summary of the President’s signature of the implementing legislation for the three FTAs.)