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Home >> World
UPDATED: 08:14, August 03, 2005
Bush signs Central America Free Trade Agreement
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US President Bush signed on Tuesday the free trade agreement with five Central American nations and the Dominican Republican (CAFTA).

"CAFTA is more than a trade bill," said Bush at a ceremony in the East Room of the White House, adding the measure would " advance peace and prosperity throughout the region."

The House of Representatives approved the CAFTA by a 217-215 vote last week, a triumph for Bush who has urged the Congress to ratify the agreement to promote free trade with Central American countries. The Senate passed the pact in June.

Under the free trade agreement with Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic, US products and services get duty-free access to the six countries.

Since Bush took office, the US Congress has signed off on free trade agreements with Jordan, Singapore, Chile, Australia and Morocco.

Source: Xinhua


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