Economy
12:09 pm
Thu March 21, 2013

Nixon Finalizes Trade Agreement With Taiwan And South Korea

Stressing the importance of Missouri goods, Gov. Jay Nixon outlined specifics of his trip to Asia after finalizing trade agreements in Taiwan and South Korea.

The governor addressed reporters during a conference call Thursday morning detailing a series of contracts totalling $1.9 billion in Missouri goods over the next four years that are intended to boost the state’s agricultural, manufacturing and biotech sectors.

Nixon says his trip was another example of the importance of boosting the state’s economy.

“One of the most effective ways for us to do that is to make sure Missouri businesses compete in every corner of the globe,” Nixon said. “It’s simple. When we sell more Missouri products overseas, we create more jobs for workers at home.”

Agreements included two in Taiwan totalling $700 million and three in South Korea totally $1.2 billion.

Nixon says 2011 and 2012 marked the two best years on record for Missouri exports, totally $28 billion in goods sold globally.

Nixon says Missouri farmers will feel a positive impact from these arrangements, noting that the state’s corn and soybeans are recognized for their quality, and that Missourians can deliver the quantities within these agreements.

“I think with the rising commodity prices, and coming off last year’s drought, this is an especially important year for all of us to have certainly in the demand for markets,” Nixon said. “This will help provide that certainty, the hundreds of millions of dollars in direct contracts will keep that price in a range where it can be predictable.”

Nixon also offered his perception of the attitude in South Korea amid threats from their neighbors to the north.

“I think that most of the folks that we have talked to, quite frankly all of the folks that we have talked to, have felt that this was, you know, continued bluster of a young leader [Kim Jong-un] that is not going to affect day-to-day commerce or the safety of this region,” Nixon said.

The Governor added he believes citizens in South Korea are very proud of their strong coalition with the United States.