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NEWS STATEMENT FOR IMMEDIATE RELEASE CONTACT: Audrae Erickson 202-331-1634 or Shannon Shoesmith 304-229-6202 July 29, 2002 CORN REFINERS PRAISE HOUSE PASSAGE OF TPA The Corn Refiners Association, Inc. (CRA) praised the House for passing legislation to grant the president Trade Promotion Authority (TPA). Members of the House of Representatives voted 215-212 in favor of the legislation on July 27, 2002. The Senate must now vote on the measure. In order for the U.S. to pursue fundamental reforms to achieve a fair and market-oriented world agricultural trading system under the World Trade Organization (WTO) agricultural trade talks, TPA legislation must be signed into law. With WTO member countries holding negotiations on agriculture this week in Geneva, Switzerland, Congress has an opportunity to show other countries that the U.S. is ready to take a seat at the table. "Passage of TPA is imperative to the success of U.S. agriculture. We are extremely pleased that the House has taken this step to provide our negotiators with the power to actively engage in trade talks on behalf of CRA members and all U.S. agricultural interests," said CRA President Audrae Erickson. "We urge the U.S. Senate to pass this important legislation and allow our negotiators to assume the leadership role necessary to promote agricultural trade," Erickson added. Final passage of TPA will create a unique opportunity for America to take a leadership role in working toward lowering trade barriers and removing trade-distorting practices. U.S. leadership is especially crucial to the elimination of disguised barriers to trade in agriculture. In 2001, the U.S. corn wet milling industry exported over 6.5 million metric tons of products worth approximately $1.1 billion. Exports accounted for nearly 30 percent of total product shipments last year. With the rapid expansion of global food demand and further liberalization of agricultural trade, opportunities for subsequent growth in exports are real. For more information on the corn refining industry, visit the Corn Capsules newsletter page. 
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