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U.S. to sign Central American trade deal
Updated 11:59 a.m. ET,
Thu May 13, 2004
By
Andrew Beadle
The JOURNAL of COMMERCE ONLINE
WASHINGTON
-- The United States will formally sign the Central America Free Trade
Agreement on May 28, clearing the path for possible congressional action
this session.
U.S.
Trade Representative Robert B. Zoellick announced Thursday that he will
sign the agreement with representatives from
Costa
Rica, El Salvador, Guatemala, Honduras and Nicaragua. In addition,
representatives from the Dominican Republic will witness the signing in
anticipation of formally joining the agreement later.
The
U.S. finished negotiating the deal with El Salvador,
Guatemala, Honduras and Nicaragua in December. An agreement with Costa
Rica was reached in January, and with the Dominican Republic in March.
Under
timelines established by
U.S. trade law, the pact
could not be signed before May 21. Trade law also requires Congress to
approve the proposed agreement.
Zoellick
said the Bush administration intends to send a single package that
includes the original group of five Central American nations and the
Dominican Republic to Congress for its approval.
The
U.S. began negotiations with Panama last month, and expect
to begin talks next week with Colombia, Ecuador and Peru. Trade
negotiations are also currently underway with Bahrain and the five nations
of the Southern African Customs Union.
Congressional approval of the Central American agreement is uncertain,
particularly as national elections draw closer.
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