Several countries affected by slowly pending trade agreement may need additional preparation time
WASHINGTON (CNN) - Staffers on Capitol Hill and in the Bush administration said Thursday it is unlikely that the Central American-Dominican Republic Free Trade Agreement will become active Jan. 1, as had been planned.
The office of the U.S. Trade Representative would not comment on reports that no country is ready to implement the trade pact.
A statement from USTR spokeswoman Christin Baker said all parties had recognized that the Jan. 1 start date "was an ambitious goal, and that all countries might not have completed their implementation process by that time. Other U.S. free trade agreements have had a longer preparation period to get ready, so the need for additional time is not unusual."
She continued, "The United States is prepared to have the CAFTA-DR enter into force as early as Jan. 1, but only with countries that have made sufficient progress in adopting new laws and regulations where necessary. We will move forward as long as at least one country is prepared, and will accommodate new entrants as they become ready."
http://money.cnn.com/2005/12/30/news/international/cafta/index.htm?section=money_latestI think this is a huge embarrassment for Georgie.