On August 2, 2005, President Bush signed legislation to implement
the Dominican Republic - Central American Free Trade Agreement
(DR-CAFTA). This followed the vote the previous week by the House
of Representatives to approve the DR-CAFTA legislation. The
Senate had passed the bill on June 30. The Congresses of El
Salvador, Honduras and Guatemala had previously approved
DR-CAFTA.
When implemented, more than 80 percent of U.S. exports of
consumer and industrial products will be duty-free immediately.
In addition to tariff reductions, the agreement expands market
access across all sectors, provides new protections for U.S.
investors in the region, and has strong provisions for
trademarks, copyrights, and patents. The agreement also includes
provisions that address worker rights, protection of the
environment, trade capacity building and dispute
settlement.
For more information on CAFTA-DR, please click on the links
below:
http://usinfo.state.gov/wh/americas/regional_trade/drcafta.html
http://www.export.gov/fta/CAFTA/index.asp?dName=CAFTA
http://www.ustr.gov/Trade_Agreements/Bilateral/CAFTA/Section_Index.html
http://www.buyusa.gov/centralamerica/en/6.html