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Print articleBusiness Opportunities Abound Under Dominican-Central America-US Free Trade Agreement
August, 2014 - Luis Rafael Pellerano
The DR-CAFTA region was the 14th largest U.S. export market in the world in 2013, and the third largest in Latin America (behind Mexico and Brazil). The United States exports $29.5 billion in goods to the Dominican Republic and the five Central American countries in 2013, over 74 percent higher than in 2005, the year before the agreement first entered into force.2
As those statistics suggest, the DR-CAFTA has led to significant opportunities for American companies and for businesses in the Dominican Republic, as well as in Central America. The agreement has been creating new economic opportunities by eliminating tariffs, opening markets, reducing barriers to services, and promoting transparency. Simply put, it is facilitating trade and investment among the seven countries and furthering regional integration.
