MetLife, Inc. (NYSE: MET) today encouraged Congress to move quickly on
the passage of pending free trade agreements (FTAs) with the governments
of Colombia, Panama, and South Korea. Especially in the case of the
South Korean Agreement, MetLife has been engaged from the start to
ensure the strongest possible agreements between the two countries and
has advocated the opportunities for mutual business growth and U.S. job
creation at every step of the way.
"With the unemployment rate in the United States still above 9 percent,
Congress should pass these free trade agreements with all deliberate
speed," said Steven A. Kandarian, President and Chief Executive Officer
of MetLife, Inc. "Allowing U.S. companies to sell more goods and
services in these markets will spark needed job creation here in the
United States. Financial services companies such as life insurers are
eager to do more business in countries where growing affluence is
fueling a need for products that provide financial security."
MetLife International Business President Bill Toppeta, who testified in
support of the FTAs before the U.S. House Committee on Ways and Means,
said: "These agreements are beneficial to consumers first and foremost
by fostering competition for their business – providing a better choice
of products at more competitive prices. They also benefit U.S. life
insurers and the U.S. economy by many measures; market opportunity,
regulatory transparency, creating a level playing field for U.S.
companies, and U.S. job creation. We welcome the procedural agreement
between Congressional leaders and the Obama Administration that will
allow the Agreements to be voted on soon. This has been a long journey,
but ultimately it will lead us to a vital destination: better choice for
consumers, economic growth and American job creation."
MetLife, Inc. is a leading global provider of insurance, annuities and
employee benefit programs, serving 90 million customers in over 50
countries. Through its subsidiaries and affiliates, MetLife holds
leading market positions in the United States, Japan, Latin America,
Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.