[Congressional Record Volume 151, Number 99 (Wednesday, July 20, 2005)]
[House]
[Page H6175]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             SERVICES TRADE

  (Mr. HERGER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HERGER. Mr. Speaker, I rise today in strong support of the U.S.-
Dominican Republic-Central American Free Trade Agreement. Today, the 
United States and the five DR-CAFTA countries already enjoy a strong 
economic relationship. This FTA will only enhance that relationship by 
opening markets and integrating economies.
  Under the agreement, more than four-fifths of total U.S. exports to 
the six DR-CAFTA countries will receive immediate duty-free treatment. 
American farmers and manufacturers would benefit from the increased 
access and competitive advantage that duty-free treatment provides.
  But this FTA covers much more than trade and goods. Today, services 
are an integral part of the U.S. economy. Under the DR-CAFTA, the 
Central American countries will open their markets to U.S. services 
companies. In many cases, the agreement allows U.S. banking, insurance, 
telecommunications, and other services companies to compete in markets 
that were once dominated by state-endorsed monopolies.
  In addition, the FTA will put U.S. service providers at an advantage 
over their foreign competitors who do not have access to these six 
growing economies.
  I urge my colleagues to consider how CAFTA will benefit U.S. 
companies and vote to support this very important piece of legislation.

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