Caricom-Central America FTA to boost economic ties
17 Oct '07
1 min read
Negotiations for having a free trade agreement (FTA) between Caricom and Central American countries were successful and aim at strengthening the economic and social ties.
The FTA will extend to countries like El Salvador, Nicaragua, Panama, Guatemela and Honduras. Caricom looks forward to expanding its trade in Central America to include among other, a greater number of textile and industrial products.
The proposal resolved, will require the sanction of respective Governments, and once approved, the expansion will provide a platform for setting up newer industries in the region.
Moreover, if the FTA is given a clearance, it will enable a duty free transaction of goods between the two regions, which is a natural outcome of the increasingly globalized world.
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