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Guatemala, 5 Years after CAFTA-RD

Exports have grown a mild 3.4%, with agricultural goods leading the way; Guatemala’s trade balance with the U.S. remains negative.

Tuesday, June 29, 2010

©image: CentralAmericaData.COM

It is possible that the U.S economic crisis prevented the treaty from producing better results for Central American nations, but it is also probable that it helped soften the negative economic effects of said crisis.

Guatemalan industrial goods have so far been unable to enter the U.S. market, with the traditional exception of textile and apparel, and the country has been unsuccessful in attracting more U.S. foreign investment.

Source: sigloxxi.com

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Nicaragua and DR-CAFTA

April 2011

Nicaragua is one of the countries which has benefited the most from the Free Trade Agreement.

Robert Callahan, U.S. Ambassador in Nicaragua, added that the Central American country currently has a positive trade balance of $1.078 with the U.S.

Additionally, exports to the North American country have increased 71% in the past five years, from $1.170 million in 2005 to $2.012 million in 2010.

FTA drives growth in Guatemala

September 2008

The free trade agreements with the United States have contributed to the economic growth of partner countries, said the American ambassador to Guatemala, Stephen McFarland.

McFarland explained that the export of Guatemalan products to the American market have increased 13%, from $963 million in 2006 to $1.1 billion in 2007.

Trade with US up by 20 percent in two years of Cafta

July 2008

Trade in some of the countries involved has grown by 20 percent since the introduction two years ago of the Cafta accord between the United States and Central America and the Dominican Republic, according to US Department of Trade figures.

The Cafta countries – excluding Costa Rica, which las a latecomer to the pact – by the end of last year had registered exports of US18.75 billion to the United States, while recording imports of close on US$22.41 billion.

US Lifts Tariffs on Costa Rican Sugar Imports

June 2010

The Central American country will be allowed to ship 138.880 tons of tariff-free sugar, as agreed in DR-CAFTA.

President Barack Obama signed the document last week. The resolution must now be published in the U.S. official newspaper, and customs officers must make the corresponding adjustments.

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