Faces of Trade

May 20, 2005

Mirage Restaurant, NYC

The Central America Free Trade Agreement was created in order to provide substantial new trade-related economic opportunities for New York businesses, workers and citizens. Already, the Central American countries and the Dominican Republic together form New York’s 18 th lar4gest export market in the world, accounting for over $520 million of exports in 2004. This study draws upon the experiences of the North American Free Trade Agreement (NAFTA) and the recent U.S.-Chile Free Trade Agreement, and uses the U.S. Department of Commerce’s Bureau of Economic Analysis Regional Input-Output Modeling System (RIMS II) to offer a vision of the potential impact of the DR-CAFTA on the New York economy.

The program started off with the Commissioner of Immigration, Gilberto Linares, thanking everyone for coming the luncheon to listen to the United States Secretary of Commerce, Carlos M Guitierez. After Mr Guitierez spoke, Gilberto came back to introduce Josephine Infante, the President of the Hunters Point Economic Development Corporation, who began by expressing her pride in being a Dominican, born in the right in New York City. A little over thirty years ago, there was nothing pleasant to see at the Hunters Point Market, until drastic changes were made. She continued by saying that, while there are fruits and vegetables being imported from all over Asia, the Middle East and Europe, she has been at the Hunters Point Market, she has not seen any Santo Dominican produce imported since she has been there. Ms. Infante pointed out that this is yet one more reason why the Central American Free Trade Agreement needs to be signed for the Dominican Republican people in this country to be able to import there products, services and exports.

The next person to speak was the Ambassador of Santo Domingo to the U.S., Flavio Dario Espinal, who spoke about how important the CAFTA treaty is for the Dominican people—creating lots of jobs for people in Santo Domingo, and open up different avenues. President Fernandez, of the Dominican Republic, also sent his greetings, and said that the Dominican Government and the people are 100% behind getting the CAFTA treaty approved.

The next person to speak was Fernando Mateo, President of Hispanics Across America. He spoke mostly in Spanish, again expressing the importance of this CAFTA treaty being signed, and what kind of an impact the CAFTA agreement will have for the country and its people. Mr. Mateo then introduced the U.S. Secretary of Commerce, Carlos M Guitierez, who greeted everyone, and stated what a pleasure it was to be in New York among the Dominican community, and commented there was a very large Cinco De Mayo celebration in Washington D.C., for the Mexican community. He commented that it is very important to sign the CAFTA agreement, because in the year 2008, the contract for the textile industry between U.S. and Central America will be running out, but if the CAFTA agreement is signed, the textile agreement will be rolled into it, preventing the loss of millions of dollars in text trade business, preventing the business from going over to China and other parts of Asia. When President George Bush appointed him, he went on to say, his job is to create new businesses and encourage upcoming businesses.

In addition to the Dominican Republic, the five other presidents who are involved in the CAFTA treaty are from Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. A little over twenty five years ago, these countries which were involved in the CAPTA treaty had no intention of joining forces together. None of the presidents had any talking relations with each other, each pulling in their own direction. The Secretary of Commerce said went on to say that he will do whatever he can to make the CAFTA treaty signing possible, and will, of course, need everyone’s help and support to make a project a success, and will make himself available 24/7 for anyone to call his office, fax or email him with any suggestions.

Other dignitaries on hand were Alfredo Placeras, President of the New York Federation of Hispanic Chambers of Commerce, Jose Marquez, President of LISTA Organization, Fernando Mateo, President of Hispanics Across America, Assemblyman Adriano Espaillat, Edward Juarez, President of the International Immigrants Foundation, Jose Tejada, Executive Director of the Dominican Chamber of Commerce of Queens, Alberto Villate, Chairman of the Yonkers Hispanic Chamber of Commerce, representatives from Congressman Charles Rangel’s office and representatives from NYC Comptroller William Thompson, Jr.’s office.

We would like to thank Maritza Del Toro, one of the organizers of the event, for her kind invitation. For more information about CAFTA, please feel free to visit the website http://www.wola.org/economic/cafta.htm. Since this article was done the CAFTA treaty was Signed By President George Bush.

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