MSA Applauds House Passage of
Central American Free Trade Agreement
FOR IMMEDIATE RELEASE: June 29, 2005
Contact: Haley Wansing at (573) 635-3819
JEFFERSON CITY, Mo. - The Missouri Soybean Association (MSA) is pleased
that Wednesday night the U.S. House of Representatives approved a historic
trade agreement between the United States, the Dominican Republic and
the Central American countries of Costa Rica, El Salvador, Guatemala,
Honduras and Nicaragua (CAFTA-DR). It was a close 217-215 vote, and MSA
thanks the Representatives who supported CAFTA-DR, which economists estimate
could boost U.S. agricultural exports by $1.5 billion when fully implemented.
Dale R. Ludwig, executive director/CEO of MSA, says, “This is great
news for Missouri and U.S. soybean farmers. “We want to thank the
House, specifically U.S. Representatives Todd Akin (R), Roy Blunt (R),
Jo Ann Emerson (R), Sam Graves (R), Kenny Hulshof (R) and Ike Skelton
(D), for joining the Senate in passing CAFTA. It will help solidify our
position as the preferred supplier of soybeans and soybean products to
Central America.”
CAFTA-DR would immediately eliminate tariffs on all soybeans and soybean
products with the exception of refined soybean oil, where the tariff
will be phased out over 15 years in equal annual cuts.
“Also, CAFTA will benefit U.S. livestock and poultry producers by providing
the United States with substantial quotas for exporting pork duty-free.
Historically, free trade has proven to be beneficial for the entire global
economy.”
The six CAFTA-DR countries represent a growing region of 45 million people
who
imported $264 million last year in U.S. soy product.
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