February 1st CAFTA-DR Implementation Date Possible
U.S. will implement on a rolling basis as countries complete internal procedures.
Compiled by staff
Published: Jan 3, 2006
Although Central American-Dominican Republic Free Trade Agreement partners agreed to a target date of January 1, 2006, for entry into force, it is more likely countries won't implement the trade deal until at least February 1 of this year.
U.S. Trade Representative Spokesman Stephen Norton says the United States will implement the CAFTA-DR on a rolling basis as countries make sufficient progress to complete their commitments under the agreement.
"Several countries are close to being ready to implement but none has completed all of their internal procedures," Norton says. "For example, on December 15 El Salvador's Congress passed a legislative package to implement the CAFTA-DR. Once the Congress sends the legislation to President Saca for signature in early January, El Salvador will have the ability to issue further regulations and complete its internal steps and the final CAFTA implementation review process with the United States."
With the exception of Costa Rica, all of the countries are working to complete the implementation process as soon as possible. Under the "rolling admissions" process, entry into force would occur on the first day of the month with a country that the USTR determines is ready by the middle of the preceding month. The intervening time will allow for a Presidential proclamation to be prepared. Implementation as early as February 1 is possible in some cases.
Other U.S. free trade agreements have had a longer preparation period to get ready (typically 6-7 months with only one country), so the need for additional time is not unusual.
Countries which are signatories to CAFTA-DR include the United States, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. All of the CAFTA-DR signatories have ratified the Agreement except Costa Rica. El Salvador was the first to ratify in December 2004. Nicaragua was the most recent, in September 2005.
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