As Central America with Dominican Republic Free Trade

As
there are many fans of NAFTA, there must be a lot of critics on it too. Those
who are agreeing with the agreement would say that issues like an establishment
of trade standards, protection of intellectual property rights, and opening up
of new opportunities. Those who are against the agreement in the U.S. have pointed
out that jobs opportunity have actually been lost and been moved especially to
Mexico.

14
free trade agreements have been made by United States with 20 countries. It is
including Canada and Mexico with NAFTA and the others include individual
country agreements and a collective one with six Latin American countries:

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–         
Asia Pacific Region which are Australia,
South Korea and Singapore

–         
Middle East And North Africa which are
Jordan, Bahrain Morocco and Oman

–         
South America which are Chile, Colombia
and Peru

–         
Central America with Dominican Republic
Free Trade Agreement (CAFTA-DR) which is includes Costa Rica, the Dominican
Republic, El Salvador, and Guatemala.

With
all the 14 different free trade agreements, all of them have a common goal to
be reached. All the agreement created is to reduce trade barriers and create a
more stable and transparent trading and investment environment. This will give
opportunity to American companies to export their goods and services to the 20
trading partners with reduced trade barriers. At the same time it is making
American as exporters competitive in those markets. In 2015, nearly half which
is 47 per cent of United States goods exports went to the 20 free trade
agreement countries. According to the International Trade Administration’s
website, the total of United States merchandise exports to the partner
countries is $710 billion.

In
total during 2013, South Korea is the sixth-largest goods trading partner with
$104 billion in export and import trade. With regards to foreign direct
investment (FDI), South Korea in 2014 was the tenth-largest FDI country into
the United States. Many may argue on this free trade agreement or commonly
known as KORUS FTA, but now Korea showed themselves up as a major trading
partner with the United States. It remains debatable if the free trade
agreement has helped or not, but, after it went into effect in 2012, there have
been increases in trade between both nations.

The
next worth for mention is CAFTA-DR. It is represents the first free trade deal
between the United States with smaller developing economies. None of the
countries can be a key trading partner at the first place, but when combined, they
represent a major player in trading. CAFTA-DR is 16th-largest goods partner for
the United States with $53 billion import and export trade. This clearly has
made United States as exporters and importers much more competitive in the region.

Referring
to the proposed of new free trade agreements the U.S. involved with, there are
three visible ones that have been showed up in media. First is there is the one
with the EU called the Transatlantic Trade & Investment Partnership (TTIP).
Second is the Trade in Services Agreement (TISA), which would liberalize trade
with the majority of economies with respect to services industries, including
the EU, Japan, Canada and some Latin American countries which are Peru and
Chile, Australia, New Zealand and Pakistan. Finally, there is the Transpacific
Partnership Agreement, or known as TPP/TPPA, which includes 12 countries: the
U.S., Canada, Australia, Brunei, Chile, Japan, Mexico, Malaysia, New Zealand,
Peru, Singapore and Vietnam.

In
conclusion, Asia prospect of free trade are progressively aim for improvement
in their trading and at the same time trying to protect themselves against any
United States protectionist policies by taking a stronger stand than G20 major
economies. Besides, in America they are in their line to increase their export
and import trading using FTAs with countries that have high potential level in
trading. 

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