Dominican Republic to join CAFTA

Dominican Republic to join CAFTA    The Dominican Republic will officially join the U.S.-Central America free trade agreement during a signing ceremony in Washington Aug. 5.
   The United States concluded a bilateral free-trade agreement with the Dominican Republic March 15. Under the agreement, the country would be added to the Central American Free Trade Agreement, which comprises the United States, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
   According to the Office of the U.S. Trade Representative, combined goods trade between the United States and the five original CAFTA countries was $23.6 billion in 2003. The Dominican Republic membership adds $8.7 billion in annual two-way trade to CAFTA.
   The CAFTA agreement will enter into force after it’s approved by the Congress and signed by the president.