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Congress to consider free trade pacts that could boost California's economy
Trucks are driven near the Ports of Long Beach and Los Angeles, the busiest port complex in the US, on September near Long Beach, California.
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David McNew/Getty Images
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Free trade agreements with South Korea, Colombia, and Panama have been stalled in Congress since George W. Bush was president, but Senate leaders are promising they’ll be finalized once they return to work next month.
Some estimates say the new trade deals could boost U.S. exports by $13 billion a year. Imports would likely jump, too. That would mean more cargo for longshore workers to move at the Ports of Los Angeles and Long Beach.
Economist Nancy Sidhu of the Los Angeles County Economic Development Corporation says South Korea is already one of the top shippers of goods through Southland ports.
"We’ll have to work some, I think, to see a significant improvement from the other two" says Sidhu, "but that doesn’t mean we can’t do it…only that the relationships with Korea are well advanced already."
The other two, Colombia and Panama, represent ripe opportunities for California’s farm products.
Since 2006, Exports to Colombia have doubled since 2006, according to the state’s Chamber of Commerce.
The golden state’s exports to Panama totaled $252 million last year.
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