On August 5, 2004, the United States and the Dominican Republic signed a bilateral free trade agreement, which is part of the free trade agreement between the U.S. and five Central American countries (CAFTA-DR). The addition of the Dominican Republic creates a free trade area that is the second-largest U.S. export destination in Latin America.

Once ratified by each country's Congress, eighty percent of U.S. consumer and industrial exports will immediately enter the Dominican Republic duty-free, with remaining tariffs phased out over 10-15 years. Key U.S. export sectors, which will benefit from immediate duty elimination include IT products, paper products, agricultural and construction equipment, wood, medical and scientific equipment, and pharmaceuticals. In addition, tariffs on U.S. autos and auto parts will be phased out within 5 years.

CAFTA-DR NEWS

CCAA APPLAUDS SIGNING OF CAFTA-DR

Caribbean Central American Action (CCAA) welcomed the signing on August 5 of the U.S. – Central American Free Trade Agreement-Dominican Republic (CAFTA-DR) and congratulated the United States, the Dominican Republic, and the five Central American nations for this historic achievement. Click for more...


For more information on CAFTA-DR please visit the links below:

U.S. Trade Representative's CAFTA-DR Site

Foreign Agricultural Service's CAFTA-DR Site

World Bank's CAFTA-DR Site

U.S. Chamber of Commerce's CAFTA-DR Site

DR Ministry of Industry and Commerce's CAFTA-DR Site

Documents

CAFTA-DR