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What does CAFTA mean for the Central American Garment Industry?May 24th, 2005
The US-Central America Free Trade Agreement (CAFTA) was signed on May 28, 2004 by the U.S., Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. On August 5, 2004 the Dominican Republic was incorporated into the agreement. If approved by signatory governments, CAFTA will allow for clothing from Central America to be exported to the United States without paying import taxes (called tariffs). Central America is currently able to ship clothes tariff-free under the US Caribbean Basin Trade Partnership Act (CBTPA).
