Excuses delay negotiations

[NewsWhore]

Celebration of the recent Dominican Presidential elections is the latest excuse as to why a free trade agreement between Taiwan and the DR hasn't been signed. Taiwanese Vice economic Minister Eric Chiang says that Dominican officials blamed the presidential elections for limiting time for negotiations between both countries. This is not the first time Dominican authorities have failed to continue trade talks, which originally began in 2006. Taiwanese officials say that Dominican officials say they want to prioritize trade talks with Mexico and Canada. Chiang claims that some in the Dominican business sector rejected an agreement with Taiwan because it would affect business. Bilateral trade totaled US$415.19 million last year, with only US$55.7 million Dominican exports to Taiwan. Taiwan argues that it could be the port of entry for Dominican products to Asia, including Continental China. Chiang says Taiwan has already signed FTAs with Panama, Nicaragua, Guatemala, Honduras and El Salvador.
According to former Taiwanese ambassador in the DR Eduardo Chen, the rejection by the business sector was key in paralyzing the bilateral trade talks. Taiwanese authorities say that recently the parties met with a view to reinitiating the process. Chiang says it is likely that talks will resume after Taiwanese President Ma Ying-Jeou visits the country for President Leonel Fernandez's 16 August inaugural.
www.dr1.com/trade/categories/Trading-Partners/Asia/Taiwan/ (http://www.dr1.com/trade/categories/Trading-Partners/Asia/Taiwan/)

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