Gil Sperling

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The Purpose Of The Central America Free Trade Agreement Is To

April 13, 2021 by gilsperling

Costa Rica held a referendum so that its citizens could decide whether they wanted to allow D.R.-CAFTA. On October 7, 2007, Costa Ricans voted in favour of the agreement. On 30 September 2008, CAFTA-DR countries agreed to extend the implementation period for Costa Rica until 1 January 2009, in accordance with Article 22.5.2. On 14 November 2008, Costa Rica approved the final draft law on the implementation of CAFTA-DR. The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) came into force on January 1, 2009 for Costa Rica. · This is the first time that the cooperation agreement was concluded at the time of the free trade agreement – the cooperation packages between Chile and Singapore were negotiated after the conclusion of these free trade agreements. The contracting parties will work to develop a work plan for cooperation activities. · This year, in response to the needs identified by Central American countries, the U.S. government provided more than $61 million in Trade Capacity Building Assistance (CBT). Since the beginning of the negotiations, the Inter-American Development Bank has approved more than $320 million for CAFTA-related transactions. · Central America and the United States have agreed on e-commerce provisions that reflect the importance of the issue in world trade and the importance of electronic service provision as a key element of a dynamic e-commerce environment. · More than 80% of U.S.

exports of consumer goods and manufactured goods to Central America will be duty-free as soon as the agreement comes into force and 85% will be duty-free within five years. All remaining rates will be removed within 10 years. Economic growth in El Salvador, Honduras and Guatemala is weaker than in the rest of Latin America. This economic instability is helping to stimulate drug trafficking. This prompted many residents, including children, to emigrate to the United States. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) is a free trade agreement. The agreement originally covered the United States and Central American countries of Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua and was called CAFTA. In 2004, the Dominican Republic joined the negotiations and the agreement was renamed CAFTA-DR. Why has CAFTA, like U.S. trade agreements before and after, failed to reduce widespread labour abuses? Kim Elliot, a member of the U.S. Free Trade Agreements` U.S. Free Trade Agreements, recently proposed this statement bluntly: the working provisions of U.S.

trade agreements “are included because they are necessary to get congressional business.” She added: “This is really about policy, not how to raise labour standards in these countries.” An innovative enforcement mechanism includes monetary sanctions to enforce trade, labour and environmental obligations in the trade agreement. The main provision of THE CAFTA-DR called for the immediate abolition of certain tariffs and others over a period of 15 to 20 years. Tariffs on more than half of U.S. agricultural exports were eliminated as soon as the agreement came into force. The main U.S. exports to CAFTA-DR countries were petroleum products, machinery, cereals, plastics and medical devices. Major U.S. imports included coffee, sugar, fruits and vegetables, cigars and petroleum products. Other CAFTA-DR provisions are expected to enable the United States to improve access to Central American markets in the banking, telecommunications, media, insurance and other service sectors, as well as procurement by the Central American and Dominican governments.

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