Dominican Today, Dominican Republic
Dominican Senate to pass legislation in adherence to Free Trade
28 May 2007
SANTO DOMINGO.- The Senate is set to modify the General Concessions Law so the Dominican Republic adheres to its commitments in the Free Trade Agreement with the United States and Central America.
The Senate Public Works commission will meet on Tuesday to continue studying the initiative submitted by the Executive Branch, and has invited private sector consultants, senior Government officials and the deputy Víctor Bisono, head of the Chamber of Deputies Public Works Commission, to take part in the discussions.
The law’s modification aims to provide the country with a modern legal framework to facilitate private sector participation in the construction of priority infrastructure projects, through foreign and national investments.
Some articles must be modified due to contradictions and weaknesses in Law 340-06 on the Purchases of Goods and Contracting of Services, Works and Concessions, which can reopen the debate with the United States, regarding the commitments to exchange information that affect the country’s trade policy and which in just weeks after the DR-CAFTA’s implementation could send mistaken signals of potential violations.
Hacienda minister Vicente Bengoa, and the Industry and Commerce Ministry’s Foreign Trade director Vilma Arbaje suggested to the Senate a wide ranging-discussion on the legislation.