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  • KITA virtually hosted “A Meeting with Trade Experts Based in Washington D.C.” on November 17th
    2021-11-26 hit 589

    KITA virtually hosted “A Meeting with Trade Experts Based in Washington D.C.”

    on November 17th

     

    American trade experts say, “The Biden administration’s actions to address

    supply chain disruptions and policies to expand investment in

     eco-friendly infrastructures will be opportunities for Korean companies.”

     

     

    Korea International Trade Association (Chairman: Christopher Koo) virtually hosted “A “Meeting with Trade Experts Based in Washington D.C.” on November 17th at the Trade Tower in Samseong-dong.

     

    Participants from the Korean side included Chairman Koo from KITA and executive-level officials from major companies, such as Samsung Electronics, POSCO, Hyundai Steel and other large-scale exporting companies. Experts who participated in this meeting from the American side included Stacy Ettinger, a partner attorney at K&L Gates law firm (who also served as a former legal and policy advisor, and litigator at the U.S. Department of Commerce), John Neuffer, the CEO of the Semiconductor Industry Association (SIA) and JC Sandberg, the Chief Advocacy Officer (CAO) of the American Clean Power Association. The participants from the two sides discussed matters relevant to the direction of Biden administration’s economic & trade and eco-friendly policies and possible avenues for bilateral cooperation.

     

    Chairman Koo mentioned in his introductory remarks, “The United States is not only Korea’s main trading partner but also the top destination of investments made by Korean companies” and added, “Korean companies are highly interested in the specifics of the infrastructure bill signed by President Joe Biden on November 15th and America’s economic & trade policies, supply chain policies and environmental policies.”

     

    Attorney Stacy Ettinger pointed out, “The Biden administration is gravely concerned about China’s economic system ? a type spearheaded by the central government ? becoming a source of distorting the global market and the side effect the Chinese system poses to America’s interest” and added, “The United States will create coalitions with allies for cooperation to monitor China’s actions.” JC Sandberg, the CAO of the American Clean Power Association said, “This year is a milestone year, which saw the establishment of America’s clean energy infrastructure” and stressed, “The United States is pursuing policies to expand investments in the clean energy sector in and out of the country by setting climate change response as an important objective and the U.S. will see expanded cooperation with Korea during the journey of achieving this goal.”

    Park, Chun-il, the Head of the Institute for International Trade under KITA, said, “KITA will be agile to provide the Biden administration’s trade policies and eco-friendly infrastructure investment policies and updates to Korean companies through reports and seminars.” He also mentioned, “We, as an organization representing the private sector, will act as a bridge of communications between the government and relevant institutes between the two countries and relevant officials from industries.”

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