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COMSATS Institute of Information Technology: Prepared By: Khalid Najib 401

This document is a student assignment submitted by Khalid Najib to Ms. Aniqa Rehman for the class BBA-Section-4-B on the topic of free trade agreements. It discusses several free trade agreements that the United States has entered into, including the Central America–Dominican Republic Free Trade Agreement (CAFTA-DR). CAFTA-DR was signed in 2004 to gradually eliminate tariffs and trade barriers between the US, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. While meant to boost economic growth, it was divisive with opposition from some groups but support from businesses and governments seeking foreign investment.

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Abdulhai Khan
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45 views3 pages

COMSATS Institute of Information Technology: Prepared By: Khalid Najib 401

This document is a student assignment submitted by Khalid Najib to Ms. Aniqa Rehman for the class BBA-Section-4-B on the topic of free trade agreements. It discusses several free trade agreements that the United States has entered into, including the Central America–Dominican Republic Free Trade Agreement (CAFTA-DR). CAFTA-DR was signed in 2004 to gradually eliminate tariffs and trade barriers between the US, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. While meant to boost economic growth, it was divisive with opposition from some groups but support from businesses and governments seeking foreign investment.

Uploaded by

Abdulhai Khan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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COMSATS Institute of

Information Technology

Prepared By:

Khalid najib 401

Submitted To: MS. Aniqa Rehman


Class: BBA-Section-4-B
Subject: Management Practices

Assignment Material: Free Trade Agreements


Date: April 15, 2018
1: Free Trade Agreements
 Australian FTA
 Bahrain FTA
 CAFTA-DR (Dominican Republic-Central America FTA)
 Chile FTA
 Colombia TPA
 Israel FTA
 Jordan FTA
 KORUS FTA
 Morocco FTA
 North American Free Trade Agreement (NAFTA)
 Oman FTA
 Panama TPA
 Peru TPA
 Singapore FTA
 Transatlantic Trade and Investment Partnership (T-TIP)
 Trans-Pacific Partnership

Central America–Dominican Republic Free Trade Agreement:


Central America–Dominican Republic Free Trade Agreement (CAFTA-DR), agreement signed in
2004 to gradually eliminate most tariffs, customs duties, and other trade barriers on products
and services passing between the countries of Costa Rica, the Dominican Republic, El
Salvador, Guatemala, Honduras, Nicaragua, and the United States. It was the first trade
agreement between the United States and a group of developing countries. Essentially, the pact
was meant to provide the United States with improved market access and to foster economic
growth in Central American countries and the Dominican Republic through increased
direct investment and export diversification.
Free trade negotiations between the United States and the five Central American countries
began in 2002. The Dominican Republic joined the discussions in 2003. CAFTA-DR was signed by
all the countries on Aug. 5, 2004. The agreement was approved by the U.S. Congress in July
2005, and it was signed into law by Pres. George W. Bush on Aug. 2, 2005. By 2007 all the
signatories except Costa Rica had promulgated the agreement. Approval lagged in Costa Rica
because of strong opposition from a wide range of civil society organizations and trade unions.
Costa Rican voters approved the agreement in a national referendum in 2007; it went into
effect there in January 2009. In general, CAFTA-DR divided Central Americans into two camps:
peasant, labor, and indigenous groups staunchly opposed it, while businesses and governments
believed it would attract more foreign investment and promote economic growth.
CAFTA-DR’s main provision called for some tariffs to be removed immediately and others over
periods as long as 15 to 20 years. Duties on more than half of U.S. agricultural exports were
eliminated upon the agreement’s entry into force. Key U.S. exports sent to CAFTA-DR countries
have been petroleum products, machinery, grains, plastics, and medical instruments. Significant
U.S. imports have included coffee, sugar, fruits and vegetables, cigars, and petroleum products.
Other provisions of CAFTA-DR were designed to give the United States greater access to Central
American markets in banking, telecommunications, media, insurance, and other service sectors,
as well as to Central American and Dominican government purchases. The trade agreement
included measures to ensure transparency and efficiency in all transactions and to protect
.workers’ rights and the environment

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