CAFTA passes the House

This is good news. CAFTA, which will expand the hemispheric free trade zone to include six more Latin American nations, was narrowly approved by the House of Representatives last night. The Senate had already passed the bill. Now it goes to the White House for the President's signature.

Another small step for free trade. Yay!

AP notes the progress made during this administration:

The accord eventually eliminates tariffs and other trade barriers between the United States and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republican. The countries signed the trade deal a year ago.

Those nations join Australia, Chile, Singapore, Jordan and Morocco in seeing free trade agreements approved during Bush's time in office.

And the hoped for benefits of this legislation:

"Certainly CAFTA doesn't fix all the problems facing Central America," said Rep. Jim Kolbe, R-Ariz. "But increased integration can only add jobs and help alleviate poverty, reduce the flow of migration northward and make the region more competitive in world markets."

And, we might add, promote political stability in our international backyard.

Good job guys.

Read the AP report here.