Significant progress has been made this week to promote the United States’ trade agenda and ultimately place the three pending free trade agreements with Korea, Colombia, and Panama on track for final approval, with extensive discussions between Congress and the White House on the process for moving forward the three FTAs.

But as the European Union-Korea trade agreement goes into effect tomorrow, July 1st, Congress must continue to work together and pass all three of the trade agreements in order to maintain America’s competitiveness.  Such movement by Congress could now make President Obama’s goal of doubling our exports by 2014 more of a reality.  The United States is falling behind as other countries have moved quickly to enact similar trade pacts and we cannot afford to stand on the sidelines any longer.

At a time when job creation is on the mind of many both here in Washington and across the country, Congress should consider the benefits these three agreements will bring to American businesses, consumers, and the economy. The Korea FTA would eliminate tariffs on over 95 percent of industrial and consumer goods within three years, providing U.S. manufacturers and producers virtually unfettered access to the world’s 12th largest economy.  The U.S. International Trade commission estimates this would increase U.S. exports to Korea by $10 billion to $12 billion. The International Trade Commission estimates that the tariff reductions in the Colombia Free Trade agreement will expand U.S. exports by more than $1.1 billion, resulting in numerous job creation opportunities for Americans. And passage of the Panama Free Trade Agreement would give the United States access to Panama’s $20.6 billion services market.

All three of the pending trade agreements would offer great opportunities to American businesses and workers and the Forum urges members of Congress to work together and pass the agreements.  Such a move will help keep America competitive, create jobs and increase our export potential as our economic recovery continues.