US-Central America-Dominican Republic Agreement

Description: United States-Central America-Dominican Republic Free Trade Agreement (CAFTA-DR)

In 2004, the United States signed the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) with Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.

The United States-Central America-Dominican Republic Free Trade Agreement is creating new economic and trade opportunities by:

1. Eliminating the tariffs
2. Opening the international markets
3. Reducing the Technical Barriers to Trade (TBT) in services and
4. Promoting the transparency

The United States-Central America-Dominican Republic Free Trade Agreement facilitates the foreign trade and Foreign direct investment (FDI) among the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic and furthering the regional economic integration.

International Trade.

1. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic stand for the three largest U.S. export market in Latin America
2. The United States exports to Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic were 19 billion dollars
3. Total bilateral trade between the United States and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic was 37.9 billion dollars
4. Top export products: mineral fuel, electrical machinery, machinery, and cereals
5. The United States exports of agricultural products to Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic was 3 billion dollars
6. Top import products: coarse grains, wheat, soybean meal and rice

The Dominican Republic and the Central American Countries belong to the Latin American Economic Area and the United States belongs to North American area of the Western Civilisation.

US Free Trade Agreements: USMCA/NAFTA 2.0, APEC, African Growth and Opportunity Act, WAEMU, East African Community, COMESA, Bahrain, Oman, Jordan, Morocco, European Union, South Korea, Australia, Singapore, ASEAN, Chile, Colombia, Peru, Panama, Caribbean Basin Initiative...

Costa Rican Free Trade Agreements (FTA): China, Mexico, Central America (European Union, EFTA), Caribbean Community, Central American Integration System...

Guatemalan Free Trade Agreements: Taiwan, Central America (United States)...

Salvadorian Free Trade Agreements: Taiwan, Central America (Mexico, Colombia, Panama, Dominican Republic, Chile), Association of Caribbean States...

Nicaraguan Free Trade Agreements: Central American Integration System, Taiwan, Mexico, Central America (United States, Panama, European Union, Dominican Republic, Chile), Association of Caribbean States...

Honduran Free Trade Agreements (FTA): Taiwan, Mexico, Colombia, Canada, SELA...