October 14, 2011

Posted by Dan Houton

MEMA applauds Congress for passing free trade agreements (FTA) with Colombia, Panama and South Korea on Wednesday and looks forward to President Obama signing them into law.  These agreements are critical to helping America maintain its leading role in the world economy and offer real opportunities for parts manufacturers and their employees in two of the fastest-growing regions: Asia-Pacific and Central/South America.     

The global economy requires America to more actively engage our trading partners, be it through free trade agreements or other trade/investment partnerships, to help grow our economy.  Competition is robust and we can ill afford to neglect these and other markets as key competitors, such as the EU and Canada, employ aggressive trade deals with key countries. 

As manufacturers, MEMA members are ready to take advantage of the pending FTAs which will provide significant business opportunities for American motor vehicle parts manufacturers, ensuring jobs and helping to restore manufacturing to its rightful place in America's economy.