Three Trade Agreements Expected to Boost NY State Exports
Posted by Victoria Isabel on Saturday, October 15, 2011
Under: wineries
The Senate ratified three trade agreements that many supporters claim will boost New York farmers, manufacturers and service industry organizations. An estimated 192,000 jobs around the state are supported by exports, according to the U.S. Chamber of Commerce. Using a private database that tracks exports via ocean containers, the
chamber identified 1,482 companies based in New York that ship $55.6
billion in goods every year and doesn't include air freight shipments or trucking of New York-produced goods across the Mexican and Canadian borders.
EFCO Products of Poughkeepsie expects to ship more bakery mixes to Korea. EFCO ships several ocean liner containers of bakery mixes and fruit fillings to bakeries in South Korea every year. "We have a very good trading partner in South Korea," says Steve Effron, EFCO's president and CEO. His 70-employee family-owned business also exports to the Taiwan and the Philippines. ECFO currently faces Korean tariffs ranging from 8 to 40 percent on its bakery mixes, depending on the content of sugar, flour and fruit fillings. Those tariffs will be lowered under the new trade deal.
Peter Saltonstall, owner of King Ferry Winery in the Finger Lakes, says the Korea trade deal has spurred him to consider exporting his sweet-tasting dessert wine and ice wine. Tariffs on wine exported to South Korea will immediately vanish. Grape juice produced by upstate grape growers will benefit from immediate elimination of a 45 percent Korean tariff. Fruit producers will have to wait up to 10 years for 45 percent tariffs on cherries and strawberries to gradually disappear.
"Everyone is always looking for new markets for their products," Saltonstall said. "I've been tempted to try one of these markets, just to see." Koreans favor the kind of sweet-tasting fruit wines and rice wine produced by many New York wineries, according to Susan Spence of New York's Wine and Grape Foundation in Canandaigua.
Western New York is a major growing area for Concord and Niagara grapes. Welch's Food Inc., sells more than 2,000 tons of grape concentrate in Korea annually. Eliminating the 45 percent tariff on U.S. grape juice will make it more competitive with juice from Chile, which is imported to Korea duty-free under a Korea-Chile free trade agreement.
The big beneficiaries of the agreement with Korea include express delivery firms such as FedEx and United Parcel Service, telecommunications firms such as Verizon and AT&T, cable t.v. channels, insurance companies and advertisers.
Taste the best of what Finger Lakes wines can offer. Savor the flavors of Pittsford's finest gourmet creations. Listen to live jazz, country and rock and roll music. All these for only $45. But that's not all, because 100% of your entrance fee goes to Pittsford Rotary's charitable efforts. Participating wineries, Rochester restaurants and musicians offer their services for free.
EFCO Products of Poughkeepsie expects to ship more bakery mixes to Korea. EFCO ships several ocean liner containers of bakery mixes and fruit fillings to bakeries in South Korea every year. "We have a very good trading partner in South Korea," says Steve Effron, EFCO's president and CEO. His 70-employee family-owned business also exports to the Taiwan and the Philippines. ECFO currently faces Korean tariffs ranging from 8 to 40 percent on its bakery mixes, depending on the content of sugar, flour and fruit fillings. Those tariffs will be lowered under the new trade deal.
Peter Saltonstall, owner of King Ferry Winery in the Finger Lakes, says the Korea trade deal has spurred him to consider exporting his sweet-tasting dessert wine and ice wine. Tariffs on wine exported to South Korea will immediately vanish. Grape juice produced by upstate grape growers will benefit from immediate elimination of a 45 percent Korean tariff. Fruit producers will have to wait up to 10 years for 45 percent tariffs on cherries and strawberries to gradually disappear.
"Everyone is always looking for new markets for their products," Saltonstall said. "I've been tempted to try one of these markets, just to see." Koreans favor the kind of sweet-tasting fruit wines and rice wine produced by many New York wineries, according to Susan Spence of New York's Wine and Grape Foundation in Canandaigua.
Western New York is a major growing area for Concord and Niagara grapes. Welch's Food Inc., sells more than 2,000 tons of grape concentrate in Korea annually. Eliminating the 45 percent tariff on U.S. grape juice will make it more competitive with juice from Chile, which is imported to Korea duty-free under a Korea-Chile free trade agreement.
The big beneficiaries of the agreement with Korea include express delivery firms such as FedEx and United Parcel Service, telecommunications firms such as Verizon and AT&T, cable t.v. channels, insurance companies and advertisers.
Taste the best of what Finger Lakes wines can offer. Savor the flavors of Pittsford's finest gourmet creations. Listen to live jazz, country and rock and roll music. All these for only $45. But that's not all, because 100% of your entrance fee goes to Pittsford Rotary's charitable efforts. Participating wineries, Rochester restaurants and musicians offer their services for free.
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