Taiwan wants FTA

[NewsWhore]

Taiwan ambassador Eduardo Chen is optimistic that President Ma Ying-jeou's one-day visit for the 16 August Fernandez inaugural will be positive step and will help push forward talks leading to a DR-Taiwan free trade agreement. Talks began in 2005, but Ambassador Chen says they have stalled due in part to opposition from local business groups, as reported in Diario Libre. The Santo Domingo and Santiago chambers of commerce oppose the treaty on the grounds that the Dominican Republic practically sells nothing to Taiwan while importing millions worth, and thus has little to gain with a FTA. As reported in Diario Libre, bilateral trade totaled US$415.19 million last year, but of this only US$55.7 million were in Dominican exports. Instead, local business groups favor strengthening trade with traditional partners such as the United States, Canada and Europe, countries from which the DR has much more to gain.

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