logo logo

American Chamber of Commerce: DR-CAFTA delay "perplexing;" deters investments

Dominican Today - 22 December 2005

American Chamber of Commerce: DR-CAFTA delay "perplexing;" deters investments

Santo Domingo.- Postponement in implementing the DR-CAFTA risks a change of course for investors with their currency and jobs, towards other "founders" of the agreement, according to business sectors.

The American Chamber of Commerce (Amcham) reacted yesterday with disbelief to the official announcement that the Dominican Republic postponed entering the Free Trade Agreement till July 2006.

"The initial reaction is one of confusion," said William Malamud, Amcham’s vice-president.

"We would like to sit down with the government and understad exactly what it is that they want to do, since it is the government who has stressed the importance of being a founding member," he added.

Malamud considered that the country "is ready to implement the treaty in January. I do not understand the logic to postponing this."

He expressed doubt on the rationale that the government gives for putting off the treaty, but did not explain.

"We are not gaining time with a postponement; we are losing opportunities to gain benefits," surmised Malamud.

 source: Dominican Today