NewsWhore
03-27-2009, 03:50 PM
Customs Department Director Miguel Cocco spoke up yesterday urging actions to increase Dominican regional exports. Cocco spoke during an event during which he was honored by the Dominican Association of Exporters.
He says the DR has been the big loser in regional trade. For every US$10 the country exports to Central America, it imports US$90 from those countries. And for every US$18 exported to the Caribbean, Dominicans import US$82, he said. The Dominican Republic signed trade agreements with Caricom and Central America ten years ago. But the DR has not been able to take advantage of the agreements. In 2008, DR exported US$157.2 million to Central America and Cariforum countries, while purchasing US$1,016.7 million, a difference of US$859.5 million, or 84.5% more, as reported in El Caribe.
Cocco said that exports to Central America were a mere US$39.3 million in 2008, while imports were US$386.1 million, for a trade deficit of US$346.8 million. Exports to Cariforum countries totaled US$117.9 million, while imports were US$630.6 million, for a US$512.7 million (81%) difference. Natural gas imports from Trinidad & Tobago make up the bulk of these imports. The Cariforum countries are:
Antigua & Barbuda, Belize, Bahamas, Barbados, Dominica, Grenada, Guyana, Jamaica, Suriname, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, and Trinidad & Tobago.
More... (http://www.dr1.com/index.html#6)
He says the DR has been the big loser in regional trade. For every US$10 the country exports to Central America, it imports US$90 from those countries. And for every US$18 exported to the Caribbean, Dominicans import US$82, he said. The Dominican Republic signed trade agreements with Caricom and Central America ten years ago. But the DR has not been able to take advantage of the agreements. In 2008, DR exported US$157.2 million to Central America and Cariforum countries, while purchasing US$1,016.7 million, a difference of US$859.5 million, or 84.5% more, as reported in El Caribe.
Cocco said that exports to Central America were a mere US$39.3 million in 2008, while imports were US$386.1 million, for a trade deficit of US$346.8 million. Exports to Cariforum countries totaled US$117.9 million, while imports were US$630.6 million, for a US$512.7 million (81%) difference. Natural gas imports from Trinidad & Tobago make up the bulk of these imports. The Cariforum countries are:
Antigua & Barbuda, Belize, Bahamas, Barbados, Dominica, Grenada, Guyana, Jamaica, Suriname, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, and Trinidad & Tobago.
More... (http://www.dr1.com/index.html#6)