Central America - June 2015
Why the Dominican Republic and Panama?
The Dominican Republic is one of the largest Central American markets for U.S. food and agricultural products, with sales reaching a record $1.3 billion in fiscal year 2014. Soybean meal and oil, wheat, corn, dairy, and processed food products were among the top U.S. agricultural exports to the Dominican Republic last year. Since the CAFTA-DR trade agreement went into effect there in 2007, U.S. exports to the Dominican Republic have seen substantial growth.
Panama is one of the fastest-growing economies in Latin America and the United States exported a record of nearly $667 million in agricultural products there last fiscal year. Top exports included soybean meal, corn, dairy, wheat, and processed food products. The 2012 U.S.-Panama Trade Promotion Agreement, coupled with the pending completion of the Panama Canal expansion project, points to strong future trade and economic growth in Panama.
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