[DR1] Postponing DR-CAFTA

[NewsWhore]

The postponement of the DR-CAFTA agreement that was supposed to come into effect at midnight tonight is apparently due to the inability to fulfill established goals and lack of harmony on fundamental issues, according to a report by Diario Libre. This is the second time that the trade treaty is postponed after almost two years since it was originally signed. The major obstacles are lack of legislation and regulations required by the United States and the zeal pertaining to intellectual property rights. Business sectors observe the US government is pressuring for changes in the already agreed upon treaty. Meanwhile, the Dominican government is benefiting from billions in taxes that were approved with the passing of the 2006 Budget to compensate for the elimination of import taxes under DR-CAFTA.

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