SMITHFIELD, Va. — In response to the Congressional passage of the free trade agreements (FTAs) with South Korea, Panama, and Columbia, C. Larry Pope, president and chief executive officer of Smithfield Foods, Inc. (NYSE:SFD) made the following statements:
"Congress' passage of the long-stalled FTAs with South Korea, Panama, and Colombia is a major victory for the United States, our economy, and in particular the American pork industry. As the CEO of the largest pork producer and processor in the world, I commend the leadership of Congress and the President for reaching a consensus. These FTAs have the potential to generate hundreds of millions of dollars in U.S. pork exports in the coming years, while creating new jobs that our country desperately needs."
"Under the South Korea FTA, U.S. pork exporters and others in the protein industry will be on a level playing field with our global competitors for the South Korean market. With U.S. Department of Agriculture estimates for meat and poultry exports to South Korea expected to increase by $2.1 billion dollars annually, this FTA is an important tool in enabling Smithfield to fully leverage its potential in this important market."
"I am grateful for all the hard work of the Administration and Congress to realize passage of these agreements and look forward to working with our country's negotiators as they move toward implementation."
About Smithfield Foods
Smithfield Foods is a $12 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Farmland®, Smithfield®, Eckrich®, Armour® and John Morrell®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental, and food safety and quality programs. For more information, visit www.smithfieldfoods.com.
Source: Smithfield Foods
