America’s #1 Export Industry Applauds Passage of Free Trade Agreements
Trade agreements with Columbia, Panama and South Korea create jobs for American high-tech workers, boost U.S. exports
WASHINGTON, D.C.—OCTOBER 13, 2011—The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing and design, today applauded Congress and the Administration on the passage of the free trade agreements (FTAs) with Columbia, Panama, and South Korea. The agreements will increase access to growing markets for exports and will help promote a trade agenda that can ultimately boost exports of semiconductors and other technology products. Further, the agreements eliminate border barriers, contain in-depth sections dealing with services trade, intellectual property and Internet issues, and have labor and environmental sections based on full enforcement of domestic law and international standards.
“Semiconductors are America’s top exporting industry and with three quarters of semiconductors being designed and manufactured here and 82 percent of our sales outside the U.S., access to growing markets is critical for the success of our industry,” said Brian Toohey, president, Semiconductor Industry Association. “We are hopeful that the passage of these FTAs will mark the beginning of a renewed focus on strengthening U.S trade policy and we applaud both the Congress and the Administration for their work to create more American jobs and economic growth through these agreements.”
Passage of the agreements clear the way for further negotiations on the Trans-Pacific Partnership (TPP) and the expansion of the Information Technology Agreement (ITA). Both of which are critical to ensure that duty-free provisions, intellectual property protection and international standards keep pace with quickly evolving semiconductor technologies.
On October 6, SIA and the High-Tech Trade Coalition sent a letter to Members of Congress urging action on the FTAs. To read the full letter visit, http://www.sia-online.org/document-library-sia/international-trade-ip/. For more information on SIA visit, www.sia-online.org.
About the SIA
The Semiconductor Industry Association, SIA, is the voice of the U.S. semiconductor industry, America's number-one export industry over the last five years and a bellwether measurement of the U.S. economy. Semiconductor innovations form the foundation for America's $1.1 trillion dollar technology industry affecting a U.S. workforce of nearly 6 million. Founded in 1977 by five microelectronics pioneers, SIA unites over 60 companies that account for 80 percent of the semiconductor production of this country. Through this coalition SIA seeks to strengthen U.S. leadership of semiconductor design and manufacturing by working with Congress, the Administration and other key industry groups. The SIA works to encourage policies and regulations that fuel innovation, propel business and drive international competition in order to maintain a thriving semiconductor industry in the United States. Learn more at www.sia-online.org