Senate Finance announces March 9 hearing on trade agreements

The Senate Finance Committee announced on Thursday it would hold a hearing March 9 on the pending free trade agreements with South Korea, Colombia and Panama.  

In a recent letter, Senate Finance Chairman Max Baucus (D-Mont.) and ranking member Orrin Hatch (R-Utah) urged U.S. Trade Representative Ron Kirk to be prepared to identify the remaining issues and provide a timetable to expedite and complete the Colombia and Panama free trade agreements.

"U.S. exports to these markets have faced barriers for far too long," the senators wrote. "Panama and Colombia both made clear commitments to eliminate these barriers and open their markets, but the administration has not taken action that would allow U.S. exporters to benefit from these commitments."

Kirk said he's been asked by President Obama to "intensify" discussions to move the agreements forward.  

"We welcome your engagement and seek to undertake congressional consideration of these agreements in the near future," the senators wrote. 

U.S. trade representatives traveled to Colombia this week to continue discussions, and meetings are expected soon in Panama. 

Baucus will travel to Colombia next week during the weeklong Presidents Day recess to meet with senior government officials to discuss the pending agreement and other key economic and trade issues.

Congress is expected to receive final language on the pact with South Korea by March, Kirk said during a recent House Ways and Means Committee hearing. 

House Ways and Means Chairman Dave Camp (R-Mich.) has said he wants a vote in Congress on the agreements by July 1.