Biden Inaugurated as US President... KITA Expects Establishment of Fair Global Trade Order

[Asia Economy Reporter Suyeon Woo] The Korea International Trade Association (KITA) congratulated U.S. President Joe Biden on his inauguration on the 20th (local time), stating, "We hope that the United States, as a top-tier economic power, will demonstrate leadership by restoring trust with its allies and taking the lead in establishing a fair global trade order."

Furthermore, KITA anticipated that the launch of the Biden administration would have a positive impact on the global trade and commerce environment. KITA forecasted, "In line with the new administration's campaign promises, an expansion in demand for eco-friendly sectors, implementation of trade policies based on norms, and efforts to restore the multilateral trade order are expected."

Lastly, KITA emphasized, "We will strengthen relations with the United States, Korea's second-largest export destination and most steadfast economic cooperation and security alliance partner, and reorganize trade diplomacy channels with the U.S. through cooperation with the government and export support agencies," adding, "We will also strive to spread consensus on the importance of Korea-U.S. relations among opinion leaders within the United States."

President Joe Biden of the United States / Photo by Yonhap News

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