Trade with US up by 20 percent in two years of Cafta
Trade in some of the countries involved has grown by 20 percent since the introduction two years ago of the Cafta accord between the United States and Central America and the Dominican Republic, according to US Department of Trade figures.
Tuesday, July 1, 2008
The Cafta countries – excluding Costa Rica, which las a latecomer to the pact – by the end of last year had registered exports of US18.75 billion to the United States, while recording imports of close on US$22.41 billion.
Exports have grown a mild 3.4%, with agricultural goods leading the way; Guatemala’s trade balance with the U.S. remains negative.
The free trade agreements with the United States have contributed to the economic growth of partner countries, said the American ambassador to Guatemala, Stephen McFarland.
Since yesterday 99% of Costa Rican exports will enter the US market tariff-free.
Nicaragua now has a surplus of $1 billion and trade with the country has grown by 75% in six years, thanks to the DR-CAFTA, overtaking Guatemala and the rest of the region.
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