WASHINGTON–White House diplomatic efforts if successful should open a major Asian market for insurance, an industry trade group said.
The American Insurance Association, in a statement praising the Bush administration, said remarks by officials that they will continue to pursue free trade agreements this year are “encouraging” because these pacts enhance the market expansion initiatives of insurers and benefit U.S. consumers.
“We commend Ambassador Susan Schwab, the U.S. Trade representative, for her foresight in emphasizing that free trade agreements with Columbia, Panama and Korea are critically important because they provide mutual economic benefits, and because these agreements also solidify partnerships with vital allies,” Marc Racicot, AIA president, said Friday.
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