October 22, 2021

Costa Rica Us Free Trade Agreement

China – Total merchandise trade with China has increased by 8.1% since 2011. Costa Rican exports have been trade with China of 12% in the years since the entry into force of the free trade agreement. On the other hand, imports from China increased by an average of 10.1%. The draft texts of the free trade agreement between Central America and the United States were made public on 28 January 2004. On February 20, the U.S. President`s Office informed Congress of its intention to conclude a free trade agreement with Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. In March 2004, supporting letters were issued on issues related to agriculture, the environment, financial services, investment, services/investment, telecommunications and textiles. The Free Trade Agreement between the United States and Central America was signed on May 28, 2004. Under the Agreement, the Contracting Parties significantly liberalise trade in goods and services. CAFTA-DR also includes important disciplines in customs management and trade facilitation, technical barriers to trade, government procurement, investment, telecommunications, e-commerce, intellectual property rights, transparency, and labour and environmental protection.

CAFTA-DR creates new business opportunities for the United States, while promoting regional stability, economic integration, and economic development for a large group of U.S. neighbors. In May 2004, the Salvadoran American National Network, the largest national association of Central American community organizations in the United States, opposed CAFTA, which they claimed was not ideologically motivated: “As immigrants, we have a deep understanding of the potential benefits of better transnational cooperation. We would like to see an agreement that increases economic opportunities, protects our common environment, guarantees workers` rights and recognises the role of human mobility in deepening the already deep relations between our countries. However, the NAFTA AGREEMENT is far short of this vision. [7] The Dominican Republic, Costa Rica, El Salvador, Guatemala, Nicaragua and Honduras also approved the agreement. They are all current members of CAFTA-DR. If a dispute over an actual or planned national provision cannot be resolved after a 30-day consultation, the case may be referred to a body composed of independent experts who select the parties. Once the proceedings before the panel have been completed, the panel issues a report. The parties will attempt to settle the dispute on the basis of the panel`s report.

In the absence of an amicable solution, the complaining party may suspend commercial services equivalent to those which, in its opinion, have been or could be affected by the contested measure. In the event of a dispute under both CAFTA-DR and the WTO Agreement, the complaining party may choose one of the two forums. [9] CAFTA-DR strengthens the rights and conditions of workers in the region by upholding the labour protection to which their workers are entitled under the national legislation of the countries. This also applies to the first dispute under a free trade agreement, in order to ensure that Guatemalan workers can exercise their rights under Guatemalan law. We continue to work to help Guatemala achieve this result and obtain the benefits of enforcing the law on respect for internationally recognized labour rights. Each publication contains the Harmonized Tariff of the United States (HTSUS) general note with general and specific rules of origin, a list of all products that became duty-free upon entry into force, and the exit plan for goods that, over time, become duty-free. . . .

About Bob Bergey

Bob has been driving motorcoaches since 2002, in every state east of the Mississippi and a few west, as well as the four southeastern-most provinces of Canada. In addition to driving, he's an avid photographer (and former professional), enjoys writing and technology.