President Approves Guatemala CAFTA-DR Implementation
Two Central American countries still not approved for CAFTA-DR implementation.
Compiled by staff
Published: Jul 3, 2006
The President has issued a proclamation to implement the Central American Free Trade Agreement-Dominican Republic agreement for Guatemala as of July 1, 2006, according to a statement from U.S. Trade Representative Susan Schwab.
Guatemala joins El Salvador, Honduras and Nicaragua in full implementation of this agreement. "I greatly appreciate the sincere and diligent effort by Guatemala to adopt the necessary regulatory and legislative framework under CAFTA-DR," Schwab states.
The United States, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua signed the CAFTA-DR in August 2004. Implementing legislation for the CAFTA-DR passed the U.S. Senate in June 2005 and the House of Representatives in July 2005 and was signed by the President in August 2005. All but Costa Rica have ratified the Agreement.
The CAFTA-DR entered into force for El Salvador on March 1, 2006, and for Honduras and Nicaragua on April 1, 2006. Schwab says USTR will continue to work with the remaining two partners for full implementation of the agreement.
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Tagged: free trade agreement
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