Daily News Update, Feb. 22, 2008

New records set in four CAFTA-DR countries

The United States exported $28 million in beef and beef variety meats in 2007 to the CAFTA-DR nations (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua). This is up from $18 million in 2006.

"Three years ago I forecasted that overall U.S. beef and beef variety meat exports to the CAFTA-DR nations could triple by 2015 to $41 million," says NCBA Chief Economist Gregg Doud.

"In just the first full year of the CAFTA-DR free trade agreement, we've already more than doubled our beef exports," Doud said. "Where this really shows up is in the Dominican Republic where–before the CAFTA-DR-that country's 40 percent tariff limited trade to only between $3-7 million in exports in any given year."

In 2007, U.S. beef exports to the Dominican Republic were $16 million. New records for U.S. beef exports were set in four of the six CAFTA-DR countries-Costa Rica, Dominican Republic, Guatemala, and Honduras.