The agreement provides, inter alia, for provisions on trade in goods and services, as well as investment, dispute settlement procedures, rules of origin, anti-dumping and countervailing duties, and the temporary entry of businessmen. In the following years, Colombia and Mexico adapted and extended the agreement, with additional provisions on market access and rules of origin. As Mexico`s 7th largest exporter, Colombia accounts for more than $3 billion in exports each year. · Central America and the United States have agreed on provisions on electronic commerce that reflect the importance of the issue for global trade and the importance of the provision of services by electronic means as a key part of a dynamic e-commerce environment. The Comprehensive Free Trade Agreement includes measures related to market access, tariff quotas, anti-dumping and countervailing duties, rules of origin, customs procedures, dispute settlement, government procurement, intellectual property rights, investment, protective measures, sanitary and phytosanitary provisions, technical regulations and technical barriers to trade. The Free Trade Agreement between Mexico and Central America brought together former separate agreements between Mexico, Costa Rica and Nicaragua and the northern triangle of El Salvador, Guatemala and Honduras. The result was a multilateral agreement that was formalized in November 2011 and ratified in 2013. The free trade agreement has expanded trade and investment flows between the parties and laid the foundations for improving customs and trade procedures. · Promotes the development of an online system for the registration and maintenance of trademarks as well as a searchable database. Free trade agreements have led the country to become the 12th largest export economy in the world, with $472.3 billion in exports in 2019. Beyond the country`s production advantages, access to free trade offers mutual benefits to both partner countries and businesses. The first round of negotiations on the standardization and convergence of existing free trade agreements between Central American countries and Mexico was held in Mexico City in May 2010.
The second round took place in August in San Salvador City, El Salvador. The third round took place in Mexico City from 27 to 30 September 2010. The fourth round took place in Guatemala from 31 January to 4 February 2011 and the fifth round of negotiations in Mexico City in May 2011. The sixth round of negotiations was held from 15 to 19 August 2011 in San Salvador City, El Salvador. The seventh round took place from 19 to 23 September and the next meeting is scheduled for 27 and 28 September in Antigua, Guatemala. On 20 October 2011, the participating countries concluded technical negotiations on the convergence of the Single Free Trade Agreement between Central America and Mexico. The single FTA was signed on November 22, 2011. · The agreement will create a safe and predictable legal framework for U.S. investors operating in Central American countries. Colombia, Venezuela and Mexico account for about 70% of the entire Caribbean region.
In 1994, the three countries concluded a free trade agreement that protects intellectual property rights and public sector investment. Trade restrictions should be reduced by 10% per year over ten years. Venezuela finally left the agreement in 2006. A new version of NAFTA, called USMCA (the agreement between the United States, Mexico and Canada), is expected to enter into force on July 1, 2020. After nearly three years of negotiations, each nation is striving to meet country-specific requirements in order to meet the implementation date. . . .