On February 28, President George signed the proclamation clearing the way for the implementation of the Dominican Republic-Central America-United States Free Trade Agreement (DR-CAFTA) with respect to the Dominican Republic, beginning March 1. 2007.
On August 5, 2004, the United States entered into the Dominican Republic-Central America-United States Free Trade Agreement with Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. Presently, the agreement is in effect with all these countries, except Costa Rica.
The Agreement contemplates a total free-trade zone within the next 20 years and the immediate elimination of duty on more than 77% of all products. |
