South Korea agrees to up U.S. rice imports
The Bush administration has obtained greater market access in South Korea for U.S. rice shippers.
Under the agreement, South Korea will double the amount of rice it imports over the next 10 years, provide guaranteed access for 50,000 metric tons of U.S. rice each year, and make imported rice available directly to South Korean consumers.
“In negotiating the agreement, we focused on improving the quantity and quality of the openings for U.S. rice exporters in the Korean market,” said U.S. Trade Representative Robert Zoellick in a Dec. 30 statement.
World Trade Organization members will review terms of the agreement. If the WTO members approve the terms by consensus, South Korea will implement them this year.