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).
In 4 years, exports to EE. UU. have tripled while imports have increased by 30%.
"... The growth and development of the country is inextricably linked to its integration into the global economy."
Anabel González, the current Minister of Foreign Trade of Costa Rica, said that the country has been the one to benefit the most from having DR.-CAFTA in force.
On May 23 Guatemalan businessmen will be able to find out about the commitments made under the Mutual Agreement between the U.S. and Guatemala in the DR-CAFTA labor subject.
From a note by the Guatemalan Exporters Association (AGEXPORT):
AGEXPORT, in order to present the commitments made in the framework of the friendly settlement agreement reached between the United States and Guatemala related to DR-CAFTA labor issues, will hold a breakfast conference on Thursday, May 23, 2013 from 7:15 to 9:30 hrs., which will be delivered by Mr. Carlos Contreras Solorzano from the Labour Ministry.
The Legislative Assembly ratified the last bill pending to implement the Free Trade Agreement with the U.S. and Central America.
This bill changes several copyright related laws (their names in Spanish: “Ley de Derechos de Autor y Derechos Conexos”, “Ley de Procedimientos de Observancia de los Derechos de Propiedad Intelectual” and “Ley de Información no divulgada”).
The Legislative Assembly of Costa Rica passed modifications to intellectual property laws.
Specifically, they modified article 2 of the Intellectual Property Law, and article 8 of the Intellectual Property Observance Law.
This concludes the implementation agenda of the Free Trade Agreement between the United States and Central America.
Nacion.com reported that “these modifications increase fines for intellectual property violations and clarifies concepts related to phonograms and interpretation of musical works”.
To speed up its approval, the Executive removed the agrochemical chapter from the last law project of the FTA agenda.
This project, being discussed in Congress for 9 months now, will modify intellectual property regulations.
"The Commerce Ministry removed aspects related to the Law of Undisclosed Information, in order to avoid affecting the definition of 'pharmaceutical product', which impacts agrochemical registration", reported website Nacion.com.
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 final bill of law required for Costa Rica to join CAFTA was approved this morning at the Legislative Assembly.
Reforms on copyright matters, the last of twelve initiatives included on the CAFTA implementation Agenda, received the second and final approval, with the 38 votes of the G-38, an alliance comprised of PLN, the Libertarian Movement, PUSC and independent assemblymen. The 11 PAC assemblymen voted against the law.
The Costa Rican Constitutional Court approved the last law project for the trade agreement by ruling that it does not have any defects.
Said law is the "Law that reforms several regulations for matters relating to intellectual property," known in the legal environment as "project 12" and which, according to the court, has constitutional foundation and procedures.
Yesterday at 6:28 pm lawmakers approved the last implementation law for the FTA in the first round of debate.
This project was sent back to Congress by the Constitutional Court on September 11, after a previous approval by the full session of Congress was rejected by the magistrates who found errors in the procedural approval of the law.
The magistrates had pointed out that the law which reforms several laws regarding intellectual property should be published again and consultations with the indigenous communities carried out.
The US and other FTA partners granted 3 months more so that Costa Rica can complete the approval of the projects and regulations needed in order to bring the trade agreement into force.
The new extension was made official yesterday on the last day provided, so that the efforts of the Government and its allies in favor of CAFTA would not go to waste.
Textile companies had invested millions of dollars in creating new plants here in the hope of exporting clothing tariff-free into the Unites States.
That was before the Supreme Court’s Constitutional Chamber (Sala IV) decided that the lawmakers had missed a step in procedure and sent back the environmental law that had been passed only weeks before. Twelve similar CAFTA-enablement laws had been passed and are on the books, not without bitter debate and some difficulty, including the strenuously contested one to open telecommunications and another striking down the government insurance monopoly.
Textile companies had invested millions of dollars in creating new plants here in the hope of exporting clothing tariff-free into the Unites States.
That was before the Supreme Court’s Constitutional Chamber (Sala IV) decided that the lawmakers had missed a step in procedure and sent back the environmental law that had been passed only weeks before. Twelve similar CAFTA-enablement laws had been passed and are on the books, not without bitter debate and some difficulty, including the strenuously contested one to open telecommunications and another striking down the government insurance monopoly.
Costa Rica received a new indefinite extension to fully approve all the requirements of the FTA with the United States (CAFTA).
Yesterday in New York, the presidents of the countries which have signed the agreement endorsed the procedure with which the Legislative Assembly will amend the last project of the implementation agenda and granted a new extension on the term which was set to expire next Tuesday.
Costa will ask the United States this week for an extension without a deadline to approve the last law required for CAFTA to come into force.
"I will see if they accept that when we make the pertinent modifications, which the Constitutional Court recommended, the commercial agreement will finally come into force," declared Oscar Arias, President of Costa Rica, in statements published in the La Prensa Libre newspaper.