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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called this morning’s vote “a shot in the arm for economic growth and prosperity throughout the Americas by removing outdated, protectionist trade barriers.”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 involved.”

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/

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