Dominican Today, Dominican Republic

DR-CAFTA opens way for PR trade, says Fernández

10 March 2007

Santo Domingo.- President Leonel Fernández has said that the entry into effect of the DR-CAFTA agreement between the Dominican Republic, Central America and the United States provides "a sea of opportunities" for trade, investment and business between the Dominican Republic and the neighboring island of Puerto Rico.

Speaking at a press conference at the end of his visit to Puerto Rican capital San Juan yesterday, Fernández explained that DR-CAFTA opens an unprecedented window of possibility for Puerto Rican businesspeople in the Dominican Republic, and for Dominicans in Puerto Rico.

He expressed hope that this new trading environment between both countries would bring about an increase in trade, which now stands at US$1.5 billion per year.

The Dominican president said that it was a “happy coincidence” that his visit to Puerto Rico should take place days after the free trade agreement had come into effect, allowing for discussions about this development and the huge business opportunities it offers both islands.

He added that Puerto Rican products could now enter the Dominican market under improved terms, and likewise Dominican products would enter the Puerto Rican market under preferential conditions.

The head of state assured that this creates a good environment for developing the best business opportunities for companies and investments in Puerto Rico as well as in the Dominican Republic.