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Highlights Of The Dominican Republic-Central America-United States Free Trade Agreement (Cafta)

Published in the Metropolitan Corp. Counsel
(www.metropolitancorpcounsel.com) October 2005

The US, Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua signed CAFTA on August 5. On August 2 President Bush signed the implementing legislation (Pub. L. 109-53) after the House of Representatives passed it (H.R. Bill 3045) by a bare majority of only 2 votes. The legislatures of five signatories have approved the agreement, and those of Costa Rica and Nicaragua are expected to do so within the next six months. By January 1, 2006, CAFTA should be operational for all parties that have obtained the necessary legislative approvals.

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