For Immediate Release
Contact: Nate Herman
Phone: 703-797-9062
Email: nate@travel-goods.org

May 30, 2007

TGA Applauds Conclusion of
Korean/U.S. Free Trade Agreement
Agreement Benefits U.S. Travel Goods Industry

Princeton, NJ - Travel Goods Association President Michele Marini Pittenger today applauded the successful conclusion of the negotiations toward a Korea/U.S. Free Trade Agreement (KORUFTA). “Many TGA members have important trade relationships with Korea,” noted Pittenger. “The state-of-the-art travel goods provisions in the final agreement ensure that the KORUSFTA is a win-win for both the U.S. travel goods industry and Korea.”

Pittenger continued, “On behalf of the U.S. travel goods industry, I wish to express my deep appreciation for the hard work of the U.S. government in ensuring that this agreement benefits all parts of the U.S. travel goods industry. In particular, I would like to personally express gratitude to Ambassador Susan Schwab and her excellent team at the Office of the U.S. Trade Representative (USTR). It was thanks to their perseverance that we have this state-of-the-art agreement today.”

The final agreement makes ALL travel goods (both textile and non-textile) exports to and imports from Korea duty-free immediately under very flexible rules of origin. TGA, on behalf of the U.S. travel goods industry, has long lobbied for such rules to be included in trade agreements. Regrettably, most trade agreements in recent years have subjected textile travel goods to a different rule of origin than non-textile travel goods — namely a much more restrictive fabric-forward rule of origin that essentially renders the agreement useless for U.S. travel goods firms.

Stated Pittenger, “This is a huge victory for TGA and the U.S. travel goods industry. Thanks to our efforts, the KORUSFTA incorporates language that actually makes this agreement of potential benefit to our industry. Further, we believe that by including such language in the KORUSFTA, a strong precedent has been established that will ensure that all future agreements provide equal, flexible and reciprocal treatment for ALL travel goods.”

Once one of the top five suppliers to the U.S. travel goods market, U.S. travel goods imports from Korea have declined in recent years. Nevertheless, Korea remains one of the top 20 suppliers to the U.S. travel goods market. Further, with a value of over $300 million, Korea is one of the fastest-growing markets for imported travel goods.

Concluded Pittenger, “TGA and its members look forward to working with the U.S. Congress to ensure approval of the KORUSFTA as soon as possible.”

While the negotiations towards a KORUSFTA concluded April 1, the full text of the agreement was only released to the public on May 25, 2007.

The Travel Goods Association (TGA) is the national organization that represents the travel goods industry. Its members include the manufacturers, distributors, retailers, promoters, sales representatives and suppliers of luggage and other products for people who travel.

TGA is also the sponsor of The Travel Goods Show, the largest annual exhibition of finished travel and leather goods in the world, where approximately 40,000 products from over 250 leading companies are on display for 5,000+ attendees every year.