Senator Murkowski Announces Foreign Relations Field Hearing in Anchorage
SENATOR MURKOWSKI ANNOUNCES FOREIGN RELATIONS FIELD HEARING IN ANCHORAGE
Hearing Will Examine Economic Relations Between United States and Pacific Rim Countries
Sen. Lisa Murkowski, chairman of the Senate Foreign Relations subcommittee on East Asia and the Pacific, announced that she will chair a field hearing of her subcommittee in Anchorage on Dec. 6th to examine economic relationships between the United States and Pacific Rim countries. A significant focus of the hearing will be specific economic ties between Alaska and East Asian economies.
"Pacific Rim economies are incredibly important to our country's interests and are Alaska's principal export region," Murkowski said. "This hearing will help us examine the current state of trade between our regions, discover what lies ahead as trade volume increases and economies become further connected, and find out what we can do to expand economic opportunities for Alaska."
In 2004, U.S. trade with East Asia and the Pacific totaled $735 billion and accounted for nearly 33 percent of total U.S. international trade. In comparison, trade with North American Free-Trade Agreement (NAFTA) countries accounted for 30.4 percent. Five of the top ten U.S. trading partners are Pacific Rim nations (China, Japan, South Korea, Taiwan and Malaysia). Moreover, East Asia and the Pacific is Alaska's principal export region, with Japan, China and South Korea accounting for two-thirds of Alaska's exported products. Pacific Rim trade with Alaska and the Untied States is projected to increase both in volume and economic importance in years to come
WHAT: Foreign Relations Subcommittee on East Asia and the Pacific Field Hearing
WHERE: Loussac Library Assembly Chambers
WHEN: Tuesday, Dec. 6, 1 pm
WHY: To examine current and future economic relationships between the United States, Alaska, and Pacific Rim nations.
A full witness list will be release next week.
http://murkowski.senate.gov/pressapp/record.cfm?id=249276