2001News

FTA with Central America moves on to Presidential signature

The FTA with Central America has advanced another step. The Chamber of Deputies gave its symbolic approval to the agreement as received by the Senate. As per the Constitution, the agreement only requires senatorial approval. The Senate chose to pass the framework treaty but sat on two protocols of five, those signed with Costa Rica and Nicaragua on grounds that they grant privileges that could create problems with other DR trading partners. There has also been opposition to the protocols from local producers. The document will now move on to the Executive Branch for signing and then to the Ministry of Foreign Relations which is responsible for formally notifying the interested parties in Central America prior to its going into effect.