South Korea ranks 6th in the world for U.S. high-tech exports
TechAmerica Foundation released its newest edition of the Competitiveness series, highlighting relevant issues to the technology industry.
TechAmerica Foundation released the 34th edition of its ongoing Competitiveness Series, showing that South Korea is the sixth largest market for high-tech goods from the United States, and highlighting the benefits of passing the U.S.-Korea Free Trade Agreement.
The United States exported $9.7 billion in high-tech goods to South Korea in 2010, up from $7.0 billion in 2009, a 39 percent increase. The United States exports more to South Korea than to France and Australia combined.
“Passing the Free Trade Agreement with South Korea will make 95 percent of consumer and industrial products duty free in just three years,” said Josh James, vice president, research and industry analysis, TechAmerica Foundation. “Without this agreement, the United States risks being at a competitive disadvantage when compared with the European Union, which recently concluded its own Free Trade Agreement with South Korea that could go into effect as early as July 2011.”
The U.S.-Korea Free Trade Agreement eliminates many tariffs and includes provisions aimed at non-tariff barriers. The agreement benefits the tech industry by:
- Strengthening intellectual property protection;
- Improving access to electronic commerce and electronic authentication;
- Expanding access for U.S. producers of telecommunications products;
- Providing transparency of technical regulations;
- Allowing U.S. suppliers greater rights for procurement from the Korean governmental bodies; and
- Increasing efficiencies in customs administration.
TechAmerica Foundation
- Edited by Gust Gianos, CFE Media, Control Engineering, www.controleng.com
- Related News:
ODVA forms rail transport special interest group - 26.01.2011 15:41- 2011 State of the Union Address: TechAmerica offers high-tech comments - 25.01.2011 22:18
- Think Again: High-technology job security - 01.11.2010 15:23
- Tech Industry adds 30,200 jobs in first half of 2010 - 18.10.2010 11:34
Case Study Database
Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.
