The treaty has eliminated commercial barriers and taxes for the introduction of certain products

Six years ago the Central American Region and Dominican Republic signed the Free Trade Agreement with the US (DR-CAFTA). The treaty has eliminated commercial barriers and taxes for the introduction of certain products, which certainly has brought further economic development for the participant countries.
Despite the international financial crisis there has been a considerable increment in the regional exports to the US, especially regarding agricultural and manufactured products.

Last May 2010 the Central American Region including Panama signed an Association Agreement with the European Union. The agreement is focused on three basic pillars: commerce, political dialogue and cooperation. It is expected to increase the commercial relationships between both markets and reinforce the historical ties between both regions.
Regarding this historical event, Guatemala hosted the Euro Expo 2010, at which venue Luis Medina, partner at Rusconi, Valdez & Medina Central Law El Salvador and Alessandra Magalhaes, from the Spanish law firm Garrigues participated in the forum “Legal Aspects of trade with the European Union”.

Mario Búcaro, Managing Partner at Central Law, said that working together with Garrigues in such an important event had been an achievement considering that the recent signing of the agreement enabled Central Law and Garrigues the opportunity to provide their respective clients the best legal advice combining their expertise in both jurisdictions.
“There are a lot of business opportunities between these two markets and the Central American countries are moving forward to reach it”, expressed Jesús Humberto Medina Alva, Central Law’s chairman.