Dominican Today, Dominican Republic
One-third of Dominican firms would disappear with Free Trade
9 October 2006
Santo Domingo.- Approximately one-third of the firms in the Dominican Republic could disappear once the Free Trade Agreement with the United States (DR-CAFTA) is implemented, if revisions are not introduced to raise competitive levels.
The latter were part of preliminary conclusions shed by the first diagnosis by the Business Assessment Program sponsored by the BHD bank on the impact of the DR-CAFTA.
The BHD president, Luis Molina Achecar, informed that, till now, 445 national business firms have been diagnosed, of which 30% have high competitive levels, while close to 40% exhibit indifference to the trade accord, notwithstanding that one-third of businesses would lose with the FTA, if transformations to make these more competitive are not applied.
The consultative program known as ASE-CAFTA, allows firms to identify for each of their respective products, opportunities and challenges emanating from the FTA treaty.