NewsWhore
01-23-2009, 02:20 PM
Eddy Martinez, director of the Dominican Republic Center for Export and Investment (CEI-RD) says that Dominican exports will recover in 2009 and promised that Dominican businesses will improve their participation within the DR-CAFTA trade agreement. This statement from Martinez comes only days after it was announced that between November and December 2008 the trade deficit between the DR and US increased to US$2.5 billion, up from a US$1.6 billion deficit for the same period in 2007. This reflects an absolute change of US$910 million, or 57.49%. Since the implementation of DR-CAFTA, which was expected to expand trade, the DR trade deficit with the US has totaled US$4.05 billion in a 21-month period. In his speech Martinez stated that the cost of energy, fuel and transport have all been obstacles for exports. According to Listin Diario, Dominican exports fell by 10% in 2008.
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