2005News

DR-CAFTA expected to pass this month

Republican majority leader in the US House of Representative, Tom Delay, is expecting the Dominican Republic – Central American Free Trade Agreement (DR-CAFTA) to be approved before the August recess, when lawmakers suspend their sessions until September. At that time debates and meetings generally center around the US budget. Delay refused to comment on whether the FTA has the necessary votes to pass as it did in the Senate. He made these remarks during the installation of the Economic Competitiveness Group integrated by lawmakers related to industrial sectors in the US. Trade Secretary Carlos Gutierrez supported the FTA and said the time is right to act against isolationism and to promote competitiveness. He fears that if the FTA is not approved, Asian countries such as China will take over the Central American market at the expense of US producers.