Home / Knowledge / News / Textiles / Costa Rica to join CAFTA-DR on Jan 1, 2009
Costa Rica to join CAFTA-DR on Jan 1, 2009
31
Dec '08
U.S. Trade Representative Susan C. Schwab
U.S. Trade Representative Susan C. Schwab
U.S. Trade Representative Susan C. Schwab made the following statement regarding the entry into force of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) for Costa Rica:

"With the President's issuance of a proclamation to implement the CAFTA-DR for Costa Rica as of January 1, 2009, I am very pleased to be able to celebrate the entry into force of this important multi-country agreement.

“We have worked closely with Costa Rica, as we have with our other CAFTA-DR partners, to ensure they meet their obligations and responsibilities under the agreement. Costa Rica is now ready to join the Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua in putting the agreement into force, ensuring that the benefits of this agreement continue to spread. U.S. trade with CAFTA-DR partners – and among CAFTA-DR partners – has increased as the countries have put the agreement into force.

“I greatly appreciate the diligent effort by President Arias and his government to adopt legislation and regulations to implement Costa Rica's commitments under the CAFTA-DR. This step marks an important milestone in our relationship with Costa Rica, building on our strong economic and political partnership. With the addition of Costa Rica, this important regional free trade agreement will be in effect – as of January 1, 2009 – for all of the countries that signed the agreement.”

Background
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. It was signed by the President in August 2005.

The CAFTA-DR entered into force for El Salvador on March 1, 2006, for Honduras and Nicaragua on April 1, 2006, for Guatemala on July 1, 2006, and for the Dominican Republic on March 1 2007.

Trade and commercial opportunities have grown since the CAFTA-DR first took effect in early 2006. The total value of trade between the United States and its current CAFTA-DR partners – the Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua – increased 16.7 percent in 2007 as compared to 2005, jumping to $32.6 billion. U.S. exports to all six CAFTA-DR countries were at record levels in 2007, reaching $22.4 billion.

U.S. Trade Representative


Must ReadView All

Pic: Modanisa

Apparel/Garments | On 23rd Mar 2019

European bank invests in Turkish fashion e-com platform

The European Bank for Reconstruction and Development (EBRD) recently...

UNIDO to train cotton farmers in Egypt on sustainability

Textiles | On 23rd Mar 2019

UNIDO to train cotton farmers in Egypt on sustainability

The United Nations Industrial Development Organisation (UNIDO) has...

China to boost investment in Bangladesh: envoy

Textiles | On 23rd Mar 2019

China to boost investment in Bangladesh: envoy

China would facilitate more investment by its companies and small and ...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search