Council of the Americas Welcomes U.S. - Central America Trade Deal.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Dec. 17, 2003

The Council of the Americas congratulates the United States and Central America on today's announcement of a regional trade and investment pact. In a landmark achievement, trade negotiators have worked tirelessly to successfully conclude a free trade agreement between the United States and El Salvador, Guatemala, Honduras, and Nicaragua -- the first between the United States and a group of developing countries -- in less than one year. As the details of the U.S. Central America Free Trade Agreement come forward in the coming weeks, we believe they will reflect a world-class standard, and we expect to actively support Congressional approval of the deal in coordination with our partners in the U.S. business community.

To make this success complete, the Council calls on Costa Rica to join its Central American neighbors as soon as possible in endorsing this historic agreement. We look forward, as well, to the integration of the Dominican Republic as a full and equal partner in the agreement early next year.

"This agreement could actually be termed a trade, development and integration agreement. In addition to opening trade and investment markets it will provide significant capacity building support for democratic institutions in Central America, encourage higher standards in areas such as labor and the environment, and foster regional integration and cooperation among the countries of Central America," said Council of the Americas Chairman William Rhodes.

Added Council of the Americas President Susan Segal, "This agreement becomes part of an expanding network of open markets that is being created in the Western Hemisphere. We see today's achievement as a significant step towards the goal of a hemisphere-wide trade and investment pact, and we support ongoing U.S. efforts to deepen regional integration and cooperation through the Summits of the Americas and the Free Trade Area of the Americas negotiations."

For more information, please contact Eric Farnsworth, Vice President of Washington Operations ([e-mail]).

About the Council of the Americas

The Council of the Americas is a U.S. business organization whose members share a common commitment to free trade and open markets, democracy, and the rule of law throughout the Americas. Our programming and advocacy aim to inform, encourage, and promote free and integrated markets for the benefit of the companies that comprise our membership, as well as of the United States and all the people of the Americas. http://www.counciloftheamericas.org

Copyright (C) Council of the Americas Inc. 2003. All rights reserved.