AMI: CAFTA-DR “A Shot in the Arm for Economic Growth and Prosperity”Thursday, July 28, 2005
The Central American-Dominican Republic Free
Trade Agreement (CAFTA-DR) passed the House of
Representatives early this morning by 217-215.
The bill, which already passed the Senate, is
expected to be signed by the President, who was
an active and vocal advocate of this free trade
initiative. In a statement to the media, AMI
President and CEO J. Patrick Boyle called this
morning’s vote “a shot in the arm for
economic growth and prosperity throughout the
Americas by removing outdated, protectionist
trade barriers.” Boyle added that “free
trade is a win-win situation for all countries
When it becomes law, CAFTA-DR will allow duty-free exports of meat and poultry products to six Latin American countries while providing additional U.S. agricultural jobs due to increased exports.
Boyle extended a special thanks to Congressional leaders for their “courageous and insightful leadership” on this issue.
The agreement will reduce and eliminate duties on U.S. agricultural products in the six countries involved, which currently range from between 15 and 164 percent for beef, pork and poultry exports depending on the country. By contrast, more than 99 percent of U.S. agricultural imports from those countries enter the U.S. duty-free.
For more information on the CAFTA-DR, go to http://www.fas.usda.gov/info/factsheets/CAFTA/overall021105a.html
For more information on the American Meat Institute, go to http://www.meatinstitute.org/