Two More Join the CAFTA Club
Nicaragua and Honduras are expected to be the next two countries to be part of the Central American Free Trade Agreement (CAFTA)—a development that could happen as early as April 1.
United States Trade Representative Rob Portman said he expected the two Central American countries to be on board soon.
That would make three Central American countries that have revamped their countries’ laws to conform to the new free trade pact between the United States and El Salvador, Nicaragua, Honduras, Guatemala, Costa Rica and the Dominican Republic.
CAFTA was launched on Jan. 1, but none of the Central American countries had gotten legislative approval to change their laws to protect such issues as intellectual property rights. El Salvador was the first to make the legal changes, and on March 1 it joined CAFTA.
U.S. trade officials believe the other countries should be on board by July 1. Costa Rica is the only country whose Congress has not approved the trade pact. —Deborah Belgum
