Discussion about technical and financial assistance for CAFTA-DR
Representatives from the US, CA and the Dominican Republic met in Santo Domingo to analyze the need for technical assitance for the signed in CAFTA-DR 2004.
Wednesday, November 5, 2008
The director of Foreign Trade and Administration of the Treaty from the Dominican Ministry of Industry and Trade, Pablo Amaury Espinal, said that one of the objectives of the meeting is for the Committee for the Strengthening of the Commercial Capacity of the FTA to present an operational plan in 2009 that will allow the signatory countries to the agreement to access more resources.
After three years of ratifying the agreement, investments from the United States have increased by 22%.
U.S. products are arriving with certificates of origin stating they are part of NAFTA, the trade agreement between the U.S., Canada and Mexico, which means that when they enter Guatemala they lose their tax privileges from the FTA with Central America.
With the entry into force seven years ago of the Free Trade Agreement with U.S., Nicaragua's exports to the country have increased by 133%.
In 4 years, exports to EE. UU. have tripled while imports have increased by 30%.
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