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By 80%, Dominican firms cannot compete in Free Trade

Dominican Today | June 12, 2006

By 80%, Dominican firms cannot compete in Free Trade

Santo Domingo. — 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).

National Competitive Council executive director (CNC) Andres Van Der Horts said that the majority of the 800 firms that are in fact prepared to compete belong to the duty-free zones, another portion to agribusiness and the other part to the tourism area.

Notwithstanding, the official affirmed that, through the CNC, the government is developing institutional reform programs that may allow these firms to adapt to globalization process, that are required by the FTA and other international accords.

Van Der Horst said that Dominican entrepreneurs should understand that the real competition does not lie within the country, but rather at an international level and that their potential resides in exporting and attracting foreign currency.

 source: Dominican Today