Dominican Republic
United States ambassador Hans Hertell denied yesterday that his nation is making last minute for incorporating the Dominican Republic to the Free Trade Agreement in July, affirming that what the U.S. only expects is that the Caribbean nation complies with what it originally negotiated and signed.
Ambassador Eduardo Tejera hopes his country can join a multilateral trade deal with Canada similar to the one it already has with the U.S., but he worries that the Dominican Republic may have missed its opportunity.
As of this upcoming weekend, the government faces two important challenges: Friday, June 30th is the last day for the legal standing of the 13% tax on imports, and on the next day, the 1st of July, the Free Trade Agreement (FTA) is scheduled to start.
The Dominican Republic, jointly with the other CARICOM (Caribbean) nations will propose to the ACP (Africa, Caribbean, Pacific) countries, creating structural adjustment funds to cover costs of the transition toward free trade, within the framework of negotiations with the European Union.
A short term delay before implementing the DR-CAFTA trade accord should not significantly affect investment plans in the country, according to the U.S. investment company, Bear Stearns.
Only eleven days before the scheduled date for entering the DR-CAFTA trade accord, officials doubt that the stipulated time slot will be met, because, according to them, the Dominican Republic is in no condition to render to new U.S. exigencies by July 1st.
Whether the nation is ready or not, the 800-page DR-CAFTA treaty, replete with new rules and regulations, is set to become reality for the country.
President Leonel Fernandez of the Dominican Republic will sign a number of official documents in Seoul, including a memorandum of understanding on guaranteeing bilateral investment.
Approximately 80% of the 4,000 firms that operate in the country are not prepared to compete in the framework of the Free Trade Agreement with Central America and Central America (DR-CAFTA).
The Dominican Chamber of Commerce and Production yesterday requested of the government to avoid postponing implementation of the Free Trade Agreement with Central America and the United States.
The possible postponement of the Free Trade Agreement with the United States and Central America (DR-CAFTA) would secure for the central government additional income of, at least, RD$2,350 million during the second half of this year.
One of the little understood aspects of the negotiations for an Economic Partnership Agreement (EPA) with Europe is that it requires the determination of which nations constitute the region.
The United States reportedly threatened to leave the Dominican Republic out of the Free Trade Agreement with Central America and the U.S. (DR-CAFTA), if local authorities do not accept other requirements aside from the original negotiation.
Education minister suggested this Tuesday that universities in the country should be subject of a revision of their respective curricula in light of the upcoming Free Trade Agreement with the Central America and the United States.
The ongoing electrical crisis and its high cost will adversely affect the production of groups looking forward to participate with their businesses in the United States, Dominican Republic and central America Free Trade agreement (CAFTA-DR), said Miguel Cocco, Custom’s Director General.
A study by Pareto consulting group shows that DR-CAFTA will be more favorable to the US than to the Dominican Republic.
Taiwan president Chen Shui-Bian said yesterday that negotiations with the Dominican Republic are advancing toward the signing of a Free Trade Agreement, in which both nations seek to establish a strategic economic and trade alliance that allows them to conquer the United States market.
There are a number of "misconceptions" circulating about the Economic Partnership Agreement (EPA) being negotiated between CARICOM, the Dominican Republic, and the European Union, according to the principal EPA negotiators.
Central American countries had negotiated every issue, and the Dominican Republic simply adhered to all that had already been convened.
Taiwan’s free trade agreement (FTA) negotiations with Nicaragua are expected to be finalized by the end of this year. In addition, Taiwan is scheduled to start FTA talks this year with El Salvador, Honduras, Costa Rica and the Dominican Republic.
