U.S. Secretary of State Hillary Clinton says Washington considers the South Korea-U.S. free trade agreement a “model agreement.”

Clinton made the remark during a speech to the American Chamber of Commerce in Hong Kong on Monday.

She said the trade pact is not just about who pays what tariffs at U.S. borders, but it is instead a greater commitment to creating conditions for both nations to prosper as their companies compete fairly.

Clinton underlined that the trade accord “represents a powerful strategic bet.” She said the deal demonstrates that the U.S. and South Korea are long term partners economically and diplomatically.

She said that due to all such reasons, President Barack Obama is seeking congressional approval of the trade deal together with necessary trade adjustment assistance at an early date.