Articles of category "CAFTA"

The Dominican Republic - Central American Free Trade Agreement is a free trade agreement which encompassed originally the Central American countries of Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica and the United States and was known as CAFTA. When the Dominican Republic joined negotiations in 2004, the agreement changed its name to DR-CAFTA.

Designed to promote trade liberalization between the USA and five Central American countries, such as Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica, the Central America Free Trade Agreement was approved by the United States Senate in June 2005. It was modeled after the North American Free Trade Agreement and is believed to be a stepping-stone to the Free Trade Area in the Americas encompassing 34 economies. Demonstrating the power of the Catholic Church and its impact on everything, US Bishops raised an eyebrow concerning the CAFTA initiative.