FTA :

• AFTA
• CAFTA
• EXCISE TAX
• TARIFF TAX

Cafta Timeline Of Events

      CAFTA is the acronym for Central American Free Trade Agreement. It is a trade agreement signed by some countries of Central America. This agreement basically ensures easy trading, and facilitates the practice of free trade without taxes and tariffs between the participating countries. More..

NAFTA is the acronym for the North American Free Trade Agreement; while CAFTA is its counterpart in Central America. Both these agreements were initiated by the United States to practice free trade with its neighboring countries and to exempt all duty costs, tariffs and trade taxes. This was thought to be able to let the United States present opportunities to companies to expand their business and manufacture new products.

NAFTA came into effect on 1 January 1994. The countries that participated in this agreement were United States, Canada and Mexico. It is known to be the world’s most powerful and successful treaties in trade agreements so far. There are several kinds of goods that are transported under the NAFTA agreement. Most of the goods sold under the NAFTA have labels printed in three different languages, English, Spanish and French. The consumers for most of these goods are farmers and ranchers.  

CAFTA, or the Central American Free Trade Agreement, was signed by seven countries which also included the United States. CAFTA was signed on 1 January 2006. However, it did not get implemented at the same time by all the member countries. Later, the name of the agreement changed to DR-CAFTA.

The countries that participate in the CAFTA are Nicaragua, Guatemala, Honduras, Dominican Republic, United States, El Salvador, and Costa Rica.

The government of Costa Rica has been facing a lot of opposition from the citizens over the implementation of CAFTA. The Costa Rican farmers believe that they will suffer heavy losses if this agreement is implemented. They are strongly opposing the government in implementing the trade pact in the country.

More Articles :

• Cafta Timeline Of Events
• Problems With Cafta
• What Is CAFA ?
• When Did Nafta And Cafta Begin ?