Negotiations between the United States and five Central American countries are due to commence in New Orleans On July 27 representing the sixth of nine rounds of talks establishing the Central American Free Trade Agreement (CAFTA).
The main aim of the agreement is the lifting of tariffs and trade restrictions between the United States and Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. According to recent statistics, the CAFTA area has a combined economy of $57 billion, and approximately $20 billion worth of trade takes place between the CAFTA nations and the US.
The discussions are scheduled to center around a few key issues including market access, trade capacity, labor, the environment, intellectual property rights and government procurement.
"CAFTA will give Americans better access to affordable goods and promote US exports and jobs, even as it advances Central America's prospects for development," observed US chief trade negotiator Robert B. Zoellick in a PR Newswire report.
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