NewsWhore
07-25-2008, 05:20 PM
Luisa Fernandez, director of the National Free Trade Zone Council (CNZFE) announced that Dominican free trade zones (FTZ) will get a big boost as of 15 August when two of the three mechanisms incorporated to enhance their competitiveness under the DR-CAFTA come into effect. The mechanisms are expected to foster growth and help the sector recover contracts lost in 2006 and 2007 due to rising local costs and increased competition from China. Listin Diario writes that beginning on 15 August apparel manufacturers operating in the FTZs will be able to export tariff free apparel of up to 100 million meters squared made with Mexican cloth. Mexican textiles cost less than US textiles, thus helping to bring production costs down. On this same date, the "2x1" program will come into effect. This program establishes that for every two pants made with North American fabric, one pant made with fabric from any other part of the world, can be exported tariff free to the US.
More... (http://www.dr1.com/index.html#3)
More... (http://www.dr1.com/index.html#3)