ADM Welcomes Action to Move Pending Trade Agreements
Archer Daniels Midland Company applauds President Obama’s efforts on trade, and his transmittal of the negotiated free trade agreements (FTAs) with Colombia, South Korea, and Panama to Congress. This action paves the way for Congressional consideration and ratification of these FTAs and provides a key mechanism to boost U.S. export products to dynamic and growing markets.
Upon ratification, these three trade agreements will further the Obama Administration’s National Export Initiative goal of doubling U.S. exports by 2014—spurring economic growth and creating jobs. For the agricultural sector, these agreements represent an estimated $2.5 billion in new agricultural exports and support for up to 22,500 jobs.
“As a member of the President’s Export Council, I believe President Obama’s transmittal of the trade agreements to Congress marks a significant step toward realizing the National Export Initiative’s goal of doubling exports by 2014,” said Patricia Woertz, Chairman and CEO. “On behalf of ADM, I urge Congress to consider and pass the trade agreements with Colombia, South Korea, and Panama so that agricultural producers and exporters can begin to enjoy the benefits of increased access to these growing markets.”
Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 265 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 75 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2011, were $81 billion. For more information about our company and our products, visit www.adm.com.