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Home , Christopher Cox, David Dreier, Duke Cunningham, Elton Gallegly, George Radanovich, Jane Harman

CALIFORNIA CHAMBER OF COMMERCE AUGUST 5, 2005 ● PAGE 7

Central American Free Trade Agreement Opens Opportunities for Business

President George W. Bush this week signed a California Chamber California Congressional Delegation Vote of Commerce- supported trade on Central American Free Trade Agreement agreement that will provide businesses here with greater U.S. Senate Noes (34 of 215) access to markets Aye (1 of 55) (D-Rialto) in the Dominican (D-) Republic and Central (D-San Francisco) Howard L. Berman (D-North Hollywood) (D-Santa Barbara) America. No (1 of 45) “The California Chamber of Dennis A. Cardoza (D-Atwater) Commerce applauds the approval of (D-Greenbrae) (D-Fresno) the Free Trade Agreement between the Susan A. Davis (D-) and Central America. This House of Representatives Anna G. Eshoo (D-Atherton) agreement will create a seamless business (D-Carmel) environment between the economies, Ayes (19 of 217) (D-San Diego) (R-Palm Springs) (D-Venice) bringing measurable business benefi ts in Michael M. Honda (D-San Jose) all sectors,” said Chamber President Allan (R-Corona) (R-Newport Beach) Duncan Hunter (R-Alpine) Zaremberg. “This agreement will bring (D-San Mateo) benefi ts directly to California.” Randy “Duke” Cunningham (R-Rancho Santa Fe) (D-Oakland) The U.S.-Dominican Republic/Central (D-San Jose) American Free Trade Agreement (DR- John T. Doolittle (R-Roseville) (R-San Dimas) Doris O. Matsui (D-Sacramento) CAFTA) won U.S. Senate approval on Juanita Millender-McDonald (D-Carson) June 30 (55-45), passed the U.S. House (R-Simi Valley) (R-Marysville) George Miller (D-Martinez) of Representatives on July 28 (217-215) Darrell E. Issa (R-Vista) Grace F. Napolitano (D-Norwalk) and was signed by the President on Jerry Lewis (R-Redlands) (D-San Francisco) August 2. Daniel E. Lungren (R-Folsom) Lucille Roybal-Allard (D-Los Angeles) Linda T. Sánchez (D-Lakewood) More Exports Howard P. “Buck” McKeon (R-Santa Clarita) (D-Anaheim) DR-CAFTA will increase U.S. Gary G. Miller (R-Diamond Bar) Adam B. Schiff (D-Burbank) exports worldwide by $1.9 billion upon (R-Tulare) (D-Sherman Oaks) implementation, according to a study by Richard W. Pombo (R-Tracy) Hilda L. Solis (D-El Monte) the U.S. International Trade Commission. (R-Mariposa) Fortney “Pete” Stark (D-Fremont) That increase is greater than any other Ellen O. Tauscher (D-Alamo) recent free trade agreement. (R-Huntington Beach) Mike Thompson (D-St. Helena) When the DR-CAFTA is Edward R. Royce (R-Fullerton) (D-Los Angeles) William M. Thomas (R-Bakersfi eld) Diane E. Watson (D-Los Angeles) implemented, more than 80 percent of Henry A. Waxman (D-Los Angeles) U.S. exports will be able to enter the DR- Lynn C. Woolsey (D-Petaluma) CAFTA countries (Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras and ) duty-free, with all products having duty-free access in 10 to Central America include textiles, The DR-CAFTA is expected to years. machinery, electrical machinery and contribute to stronger economies, the rule equipment, and plastics. of law, sustainable development and more Trade Impact The United States is the main accountable institutions of governance, The United States and the six supplier of goods and services to Central complementing ongoing domestic, countries represented by the DR-CAFTA American economies. Forty percent of bilateral and multilateral efforts in the share more than $32 billion in total (two- total goods imported by Central America region. way) trade in goods. come from the United States. California For more information on the DR- Leading U.S. imports from Central exports to the DR-CAFTA market totaled CAFTA, visit www.calchamber.com/ America include apparel products nearly $660 million in 2004, making it international. and edible fruit. Leading U.S. exports the state’s 25th largest export market. Staff Contact: Susanne Stirling