(February 17, 2005) The California Chamber of Commerce will be hosting in March the ambassadors of the six nations included in the proposed U.S.-Central American Free Trade Agreement (CAFTA).

The ambassadors, on a visit arranged by the U.S. Chamber of Commerce, will speak at a California Chamber International Luncheon Forum in Sacramento on March 8, and the Chamber’s International Trade Breakfast in Los Angeles on March 11.

Trade Agreement
The CAFTA was signed on May 28, 2004 in Washington D.C. On August 5, representatives from the United States and the Dominican Republic signed an agreement formally including the Dominican Republic in the agreement. Upon implementation, more than 80 percent of U.S. exports will be able to enter the Dominican Republic and CAFTA countries duty free, with all products having duty free access in ten years.

The six nations represented by the CAFTA will be the second largest U.S. export market in Latin America, behind Mexico. The United States exported nearly $11 billion in goods to the five Central American countries included in CAFTA in 2003, more than U.S. exports to Russia, India and Indonesia combined.

Two-way trade was more than $23 billion. With the Dominican Republic added to the CAFTA-5, total two-way trade increases to $32 billion. The U.S.-Dominican Republic-Central American Free Trade Agreement is currently pending U.S. Congressional approval.

Featured Speakers
The six visiting ambassadors who will be featured speakers at the March 8 International Luncheon Forum in Sacramento and the March 11 International Trade Breakfast in Los Angeles are:

• Ambassador H.E.F. Tomás Duenas, Costa Rica;
• Ambassador Flavio Dario Espinal, Dominican Republic;
• Ambassador Rene Antonio León Rodríguez, El Salvador;
• Ambassador Jose Guillermo Castillo, Guatemala;
• Ambassador Mario Canahuati, Honduras;
• Ambassador Salvador Stadthagen, Nicaragua.

For more information or to sign up for either event, please visit the California Chamber’s website at www.calchamber.com.

Staff Contact: Susanne Stirling