Companies are preparing for the process of tariff reduction for imported goods and services from the United States under the FTA.
Starting 2015 various products will be able to come into Nicaragua from the U.S. tax free. Employers are now preparing for the tariff reduction process of the Free Trade Agreement between the U.S., Central America and Dominican Republic (DR -CAFTA).
After 4 years of paperwork the Free Trade Agreement will enacted on January 1st, with the blessing of the US government.
"I am happy to celebrate the enacting of this important international agreement", stated Susan Schwab, Commerce representative, according to the article by prensalibre.com.
The Free Trade Agreement between with the United States remains in limbo as the Costa Rican Congress still has not ratified it.
Errors in processing the agreement in the assembly and delays in approving several complementary laws mean the deal might not be passed before Congress adjourns next October.
Costa Rica is the only Central American country that still hasn't signed the 2004 agreement.