U.S. Sen. David Vitter today made the following statement on the three free trade agreements with Columbia, Panama and South Korea being voted on by the Senate this evening.
"Passing these free trade agreements will be a significant boost to our slumping economy," Vitter said. "This will give Louisiana businesses and farmers new market opportunities to grow and expand instead of throwing more tax dollars at the failed government "stimulus' approach the president is pushing. After four years of delay, I'm glad Congress is moving forward with these agreements."
Under the new agreements, exports are expected to increase by a combined total of at least $13 billion and add at least $10 billion to U.S. Gross Domestic Product per year. The new agreements should particularly expand the overseas markets for Louisiana's corn, rice and soybean farmers, as well as other agricultural producers and the petrochemical industry.