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13 Fla. J. Int'l L. 243 (2000-2001)
The Central American Integration System (SICA) at the Dawn of a New Century: Will the Central American Isthmus Finally Be Able to Achieve Economic and Political Unity

handle is hein.journals/fjil13 and id is 253 raw text is: ARTICLES THE CENTRAL AMERICAN INTEGRATION SYSTEM (SICA) AT THE DAWN OF A NEW CENTURY: WILL THE CENTRAL AMERICAN ISTHMUS FINALLY BE ABLE TO ACHIEVE ECONOMIC AND POLITICAL UNITY? Thomas Andrew O'Keefe* I. INTRODUCTION .................................. 243 1I. HiSToRIcAL OvERvIEw ............................ 244 i. How THE CENTRAL AMERICAN ECONOMIC INTEGRATION SYSTEM CURRENTLY FUNCTIONS ......... 247 A. Intra-Regional Free Trade ....................... 247 B. Rule of Origin Requirements ..................... 248 C. The Common External Tariff ..................... 249 D. Safeguard Measures ............................ 249 E. Unfair Trade Practices ......................... 250 F. Dispute Settlement ............................. 251 IV. SICA's INSTrTUTIONAL FRAMEwORK ................. 256 V. A CRITICAL ASSESSMENT OF SICA FROM A FOREIGN INVESTOR'S PERSPECTIVE ................... 258 VI. CONCLUSION .................................... 260 I. INTRODUCTION In November of 1999, a dispute developed between Nicaragua and Honduras over the Honduran government's decision to ratify a treaty with Colombia that, in effect, recognized Colombian sovereignty over waters and two small islands in the Caribbean long claimed by Nicaragua.' The Nicaraguan Congress responded in December by revoking duty-free access to its market for Honduran exports and slapping on a 35% duty.2 The tariff * The author is the President of Mercosur Consulting Group, Ltd., a Washington, D.C.-based legal and economic consulting firm that assists companies in their strategic business planning for South America. He is also a dual national of the United States and Chile. 1. Nicaraguans In Tariffs Wrangle, FINANCIAL TIMES, Dec. 2, 1999, at 6. 2. 1l

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