Schwab stated that:

“I am pleased to announce that the United States and its five CAFTA-DR partners (the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua) have agreed to provide additional time for Costa Rica to complete the legislative and regulatory steps required to join the CAFTA-DR."

"We look forward to welcoming Costa Rica as a full member of this important regional free trade agreement in the next few months."

She went on to add:

“The people of Costa Rica approved the CAFTA-DR in a national referendum in October 2007. The referendum demonstrated strong public support for the trade agreement. Since then, Costa Rica has been working hard to adopt the measures required to carry out its obligations under the CAFTA-DR."

"While it has already made considerable progress, the Costa Rican government needs more time to complete its legislative and regulatory process before the CAFTA-DR can enter into force. Today’s agreement will give Costa Rica until October 1, 2008, although we hope that Costa Rica will complete its implementing process before that date. We look forward to Costa Rica joining its Central American partners and the Dominican Republic in seizing the economic opportunities provided by the CAFTA-DR."

The US Trade Representative concluded:

“The Administration is committed to ensuring that our free trade agreement partners take the steps necessary to meet their obligations. We will continue to work closely with the Costa Rican government to complete the appropriate implementing measures.”