https://northarvestbean.org/wp-content/uploads/2019/11/cafta.jpg 252 814 Red River Farm Network https://northarvestbean.org/wp-content/uploads/northarvest-bean-logo.png Red River Farm Network2019-11-12 13:47:352019-11-12 13:47:35CAFTA/DR Trade Agreement Nearing Full Implementation in 2020
For many years, the Dominican Republic has been one of the top export destinations for United States dry bean exports in the Americas. It is the top export market in the region (minus Mexico) for the period September – July 2019 at 26,000 metric tons. This is down slightly from the same period in 2018, which was recorded at 32,000 metric tons.
One of the reasons for this market success is the CAFTA/DR free trade agreement that went into effect in 2005. The agreement includes a tariff rate quota system that gives the U.S. the advantage of duty free market access for a specific quantity of exports every year until full implementation. Once the duty free quota is filled, preferential duties are offered on a sliding scale for up to 36,000 metric tons of U.S. origin dry beans. Read more.