DECATUR, ILLINOIS, U.S. — Archer Daniels Midland Company (ADM) on Oct. 4 said it applauds President Obama’s efforts on trade, and his transmittal of the negotiated free trade agreements (FTAs) with Colombia, South Korea, and Panama to the U.S. Congress. This action paves the way for Congressional consideration and ratification of these FTAs and provides a key mechanism to boost U.S. export products to dynamic and growing markets.

Upon ratification, these three trade agreements will further the Obama Administration’s National Export Initiative goal of doubling U.S. exports by 2014 — spurring economic growth and creating jobs. For the agricultural sector, these agreements represent an estimated $2.5 billion in new agricultural exports and support for up to 22,500 jobs.

“As a member of the President’s Export Council, I believe President Obama’s transmittal of the trade agreements to Congress marks a significant step toward realizing the National Export Initiative’s goal of doubling exports by 2014,” said Patricia Woertz, chairman and chief executive officer. “On behalf of ADM, I urge Congress to consider and pass the trade agreements with Colombia, South Korea, and Panama so that agricultural producers and exporters can begin to enjoy the benefits of increased access to these growing markets.”