There is enormous global demand for USA products, particularly in emerging markets that are making large infrastructure investments. However, too few American companies are taking advantage of these important sales markets.
Today, nearly 95 percent of consumers live outside of the United States. Yet, only one percent of American companies are selling to them.
The United States currently has 17 free trade agreements with other countries, with 9 of those countries (Chile, Costa Rica, Dominican Republic, El Salvador, Honduras, Mexico, Nicaragua, Peru) located in the Caribbean & Latin America region. In addition, the United States has also signed free trade agreements with Colombia and Panama*.
*Congress is in the process of enacting legislation to approve and implement each agreement in order for them to go into effect.
U.S. companies that are first to access these markets can gain a competitive edge by introducing their products knowing that most import tariffs are already eliminated, or are currently in the process of being phased out. The end result can be increased market share, distribution, brand awareness and loyalty.
Under CAFTA more than 80 percent of US consumer goods and industrial products, and 50 percent of US farm products will gain immediate tariff-free entrance into the region. Within 10 years, 100 percent of all American goods and services will enter the region tariff-free, while tariffs on the remaining agricultural products will be gradually phased out over 15 to 18 years.
More information on Existing USA Free Trade Agreements http://www.state.gov/e/eeb/tpp/bta/fta/c26474.htm
