World Grain - February 2017 - 15

NEWSREVIEW

Groups urge Trump to preserve and expand gains achieved under NAFTA
WASHINGTON, D.C., U.S. - A total of 133 organizations and
companies from the U.S. food and agriculture sector sent a letter
Jan. 24 to President Donald J. Trump expressing their eagerness to
work with his new administration to modernize the North American
Free Trade Agreement (NAFTA) while preserving and expanding the
gains achieved to date.
"U.S. food and agricultural exports have produced a trade surplus
for nearly 50 years," the letter noted. "Consistent growth over this
period resulted in over $130 billion worth of exports, which created
$423 billion in U.S. economic activity in 2015."
The letter also noted that in the 20 years since NAFTA was
implemented, the market integration it fostered helped quadruple the
value of U.S. food and agricultural exports to Canada and Mexico.
"With a few key sector exceptions that still require attention, North

America intraregional food and agriculture trade is now free of tariff
and quota restrictions....," the letter continued. "Because of these
market access gains, the food and agricultural sectors of the North
American region have become far more integrated, as is evidenced
by rising trade in agricultural products and substantial levels of
cross-border investment in the agriculture and food sectors.... (We)
look forward to working with your administration on reducing the
non-tariff trade barriers that continue to inhibit our exports to the
North American marketplace, as well as to addressing the remaining
tariffs impeding access for some U.S. export sectors."
Signatories to the letter included major food companies and
industry associations, most farm and commodity organizations and
cooperatives, and the National Grain and Feed Association as well as
state feed and grain organizations.

EBRD invests in Greek flour milling company
LONDON, ENGLAND - The European Bank for Reconstruction
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agribusiness sector in Greece by providing €10 million long-term
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The EBRD participated in the purchase of a €40 million bond
loan facility alongside Alpha Bank, Eurobank and National Bank
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agribusiness sector, but also the transaction that closes a very
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having signed some €800 million transactions to date," said Sabina
Dziurman, EBRD director, Greece and Cyprus.
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and bake mixtures, meeting the demands of a wide customer base,
from home bakers to professional and industrial bakeries.

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World Grain - February 2017

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