House Approves Trade Agreement with Central America
July 27, 2005
Among the 50 states, New Jersey is the 17th largest exporter to Central Ame rica; NJ fabric exports increased from $10 million in 2000 to $33 million in 2004
Washington, DC - Rep. Rodney Frelinghuysen (NJ-11) today announced passage of legislation to implement the Central American Free Trade Agreement (CAFTA) with the countries of Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, and the Caribbean island of the Dominican Republic.
"Many Central American countries are on the road to democracy, and this free trade agreement is a signal of the United States' commitment to helping them achieve security, stability, and economic growth," said Frelinghuysen. "Free and fair trade between the U.S. and Central America will enhance our regions mutually beneficial economic relationship for decades to come, and, for the first time, level the playing field for American goods to enter the CAFTA region tax-free. With more than $207 million in New Jersey-made goods shipped to Central America in 2004, CAFTA will help increase business productivity, create more jobs here at home, and strengthen our state s competitiveness in the global economy."