Fast Track in US for FTA's

The "fast track" granted to the trade agreements currently being negotiated by the USA, increase the urgency of Central America raising productivity and competitiveness of their businesses, particularly against Asian countries.

Monday, May 25, 2015

From now on, the US government will be accelerating adoption of Trans-Pacific Partnership Agreement (TPP), which would affect exports from Central American countries as they compete directly with the products sold by Asian nations.

"... The main objective of the text adopted by the US Senate, which in principle would be valid for three years, is to achieve more a speedier entry into force of the TPP, which includes eleven countries in Latin America and Central Asia and which would be the biggest US trade deal since from the Free Trade Agreement with Mexico, Canada and North America (NAFTA) . "

More on this topic

Central America Happy Over Trump´s TPP Decision

November 2016

If the United States withdraws from the Transpacific Agreement, there will be less risk of competition from Asian countries for the Central American textile industry.

If the US does eventually abandon the Trans-Pacific Partnership Agreement (TPP), as promised by President-elect Donald Trump, the Central American textile industry could benefit from the elimination of the possibility that the US, its main market, will buy textiles from Vietnam at lower prices. Since the start of negotiations for the TPP, the Central American textile industry has tried to negotiate bilaterally with the US in order to minimize the negative effects that the TPP could have on the industry in the region.

Honduras Wants to Enter Trans-Pacific Agreement

May 2015

The maquila industry approves of the government's decision to apply for formal admission into the agreement, which would improve conditions for textile companies competing with countries like Vietnam.

The Honduran Maquila Association (AHM) is one of the unions in the country which is most interested in being part of the trade union agreement, because the United States is the main destination for its production, and where textiles also come from countries that are already part of the agreement, such as Vietnam.

El Salvador and the Trans-Pacific Partnership

February 2015

The government is seeking US support in order to improve conditions in the negotiation of the Trans-Pacific Partnership to minimize the impact it will have on sectors such as textiles.

From a statement issued by the Ministry of Economy of El Salvador (MINEC):

The Minister of Economy, Tharsis Solomon Lopez began a series of meetings in Washington DC with Senators, Congressmen, trade officials from the US Government and private entities, in order to present the position of the Salvadoran government in the negotiations for the Trans-Pacific Partnership, known by its acronym TPP, in relation to the impact it could have on Salvadoran exports carried out under the Free Trade Agreement with the United States, known as CAFTA-DR.

Costa Rica and the Trans-Pacific Alliance

February 2012

The Trans-Pacific Alliance is a trade agreement under negotiation, involving Australia, Brunei, Chile, the USA, Malaysia, New Zealand, Peru, Singapore and Vietnam.

A statement from the Ministry of Foreign Trade of Costa Rica explains:

Costa Rica is exploring the possibility of participating in the Trans-Pacific Alliance, which has the potential to become the commercial hub of the Asia Pacific region.

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