U.S. Chamber Acclaims U.S.-Central America Trade Agreement

WASHINGTON, D.C. —The United States Chamber of Commerce praised today's signing of a free trade accord between the United States and five Central American nations and urged Congress to approve the agreement.

"Today's action is an important step toward expanded trade with Central America and gives U.S. businesses better access to a large and growing export market," said Chamber President and CEO Thomas Donohue. "This agreement will ensure U.S. goods and services can compete in the region and will create new jobs here at home."

Trade between the United States and the five Central America nations surpassed $23 billion in 2003. When the Dominican Republic is included, U.S. trade with the region totals almost $32 billion. As an integrated market for U.S. exports, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua represent the second largest export market for U.S. goods and services in Latin America, behind only Mexico and ahead of Brazil.

"We urge the Bush administration to sign an additional agreement with the Dominican Republic this summer and to send the combined agreement to Congress for approval as soon as possible," Donohue continued.

According to the U.S. Chamber, a mutually beneficial free trade agreement will also advance U.S. interests by improving market access for agricultural and manufactured goods, strengthening intellectual property and investor protections, opening services markets, and enhancing transparency in government procurement.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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