Region increasingly important for U.S. firms

The newly implemented U.S. Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) will provide significant opportunities to U.S. manufacturers, states a report by Manufacturers Alliance/MAPI.

The author of the study says U.S. exports will grow rapidly as the region’s tariffs on U.S. products are eliminated and as more stable and growing economies increase their demand for technologically advanced products.

U.S. exports to the region have grown 16.8 percent from January to September 2006, while imports were up 3.2 percent.

Central America and the Dominican Republic now rank as the thirteenth largest U.S. export market.