US trade agreement with South Korea can boost pacts with Colombia and Panama

The recent breakthrough in the free trade agreement between the US and South Korea could pave the way for similar success in concluding talks with Colombia and Panama, a senior US official said.

The reworking of the pact with South Korea last month "may create an opportunity to work through outstanding issues to move forward our other two pending FTAs with Colombia and Panama," Arturo Valenzuela, the State Department's assistant secretary for Western Hemisphere affairs, said.

All three deals have languished since their initial negotiation during the Bush administration, but the Obama administration is now readying the South Korea agreement for congressional approval.

Original source: Dow Jones