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Electric Utility Companies
AES Supports Progress on the U.S.-Korea Free Trade Agreement
December 24th, 2010
The AES Corporation (NYSE: AES) supports the recent efforts by the governments of the United States and the Republic of Korea in completing the U.S.- Korea Free Trade Agreement and encourages the Obama administration and Congress to ratify the Agreement in early 2011. According to the U.S. government, the Korea U.S. Free Trade Agreement will boost U.S. exports to Korea by nearly $11 billion. Currently, U.S. exports to Korea face an average applied tariff of 11.2 percent, while the equivalent U.S. tariff on Korean exports is 3.7 percent.
Paul Hanrahan, President and CEO of AES, stated, "AES is encouraged by the progress between the United States and the Republic of Korea on...
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Source: Energy Weekly News (2010-12-24)