The Dominican Government is scheduled formally sign an economic association agreement with the European Union today, making the country Latin America’s leader, after Chile, with the most Free Trade deals, now with 48 nations.
An arbitration tribunal constituted under the France-Dominican Republic Bilateral Investment Treaty released an award last week ruling on the jurisdictional objections raised by the Dominican Republic in a claim brought by TCW and its parent company.
Taiwan president Ying Jeou Ma today said he’s interested in accelerating talks for a Free Trade Agreement with Dominican Republic, for which his country’s representatives were already instructed to expedite them.
In the first three months this year the country posted a trade deficit with the United States of US$688 million, much higher than the US$426 million in the year earlier period, reports newspaper Hoy.
The deadline for completion of a new farm bill has been pushed back to May 16. But the endless wrangling over a piece of legislation that Congress once hoped to finish in 2007 has not induced a significant change in the thinking of those who regard it as an opportunity to lock in lush new benefits for American agricultural producers.
The European Commission (EC) has flatly rejected as unfounded, suggestions that the CARIFORUM Group - Caribbean Community (Caricom) states and the Dominican Republic - was forced into the Economic Partnership Agreement (EPA) reached last December and that the negotiations were designed to split the ACP Group.
Figures from the Customs Agency (DGA) show Dominican Government has sacrificed RD$2.3 billion since the United States-Central America Free Trade Agreement began.
Dominican businesspeople do not see any advantages on the Free Trade Agreement signed between the Dominican Republic, the US and Central America (CAFTA-DR), said Ignacio Mendez, president of the Dominican Industrials Association.
The Dominican Republic and Guatemala are the only two countries in DR-CAFTA that have not been able to access money from the Millennium Account due to internal issues.
Direct foreign investment in Dominican Republic jumped to US$1.7 billion in 2007, year in which the DR-Cafta trade accord took effect in the country, the Central Bank said.
Costa Rica has won a seven-month extension from its U.S. and regional trade partners to pass laws required for its entry into the CAFTA free trade pact, President Oscar Arias said on Wednesday.
Dominican Republic has lost from the Dr-Cafta trade pact, which took effect one year ago on Saturday, RD$2.54 billion from lost tax revenues, the Customs Agency (DGA) said in a statement.
The possibility that Dominican Republic and Haiti could sign a free trade agreement as early as next year is being met with approval by commercial, governmental and industrial sectors, as well as economists and poultry producers, newspaper El Caribe said Sunday.
The Economic Association Agreement between Cariforum and European Union (EPA) countries will lead Dominican Republic and Haiti to negotiate a Free Trade Agreement in one year, said Industry and Commerce minister Melanio Paredes, during the Business Table organized by magazine The Economist.
"We have more and bigger FTAs than anyone in region."
Taiwan’s President Chen Shui-bian said he hopes Taiwan and the Dominican Republic will sign a Free Trade Agreement (FTA) as soon as possible to benefit enterprises in both countries.
Dominican Republic still has some 10 commitments pending to fully access the Free Trade Agreement signed with the United States and Central America (DR-CAFTA), and for that reason confronts a situation defined as "serious" against its other competitors.
Costa Rica’s PAC party (Citizen Action) president Otton Solis has warned of the potential increase in unemployment if CAFTA-DR, the free trade treaty with the United States, is approved.
Dominican Republic was ratified as country president of the Intellectual Property Work Group for the American Hemisphere, in recognition of the Customs Agency’s (DGA) work in copyrights, as the DR-CAFTA trade agreement and international treaties stipulate.
Dominican Republic should manage a consensus with the Caribbean Community countries (Caricom) to establish a joint negotiation that leads to the Economic Association Agreement with the European Union.