NewsWhore
07-26-2006, 02:10 PM
While it awaits implementation in the DR, the DR-CAFTA continues to make news locally. Costa Rican economist Carlos Trejo, a former Commerce Minister for Costa Rica, addressed the challenges when speaking to an audience at the American Chamber of Commerce seminar "Commerce between the Dominican Republic and Central America: Opportunities and Challenges Facing the Start-Up of DR-CARTA". According to Trejo, the Dominican Republic has three main stumbling blocks to overcome. The first one is to eliminate the difficulties and paperwork to get things out of the ports. The second one is to better the competitiveness climate within the business community. And the third one is to go and get a greater integration of the commercial activities in the DR.
Trejo said that the DR has advanced a great deal over the past few years, but the challenge now is to become more and more sophisticated.
He said that the DR has to identify those products and services that are in demand in Central America. He pointed out that currently there is a 1:7 ratio that favors the Central American nations over the Dominican Republic as a result of the 2002 Free Trade Agreement between the DR and Central America. The economist revealed that the inter-Central American commerce was US$3 billion and the Dominican Republic is barely scratching the surface with its US$150 million participation in the markets.
Trejo proposes a Customs Union for all of the signatories to the DR-CAFTA agreement. He pointed out that this would speed up the movement of cargo throughout the system.
Link To Original Article (http://www.dr1.com/index.html#7)
Trejo said that the DR has advanced a great deal over the past few years, but the challenge now is to become more and more sophisticated.
He said that the DR has to identify those products and services that are in demand in Central America. He pointed out that currently there is a 1:7 ratio that favors the Central American nations over the Dominican Republic as a result of the 2002 Free Trade Agreement between the DR and Central America. The economist revealed that the inter-Central American commerce was US$3 billion and the Dominican Republic is barely scratching the surface with its US$150 million participation in the markets.
Trejo proposes a Customs Union for all of the signatories to the DR-CAFTA agreement. He pointed out that this would speed up the movement of cargo throughout the system.
Link To Original Article (http://www.dr1.com/index.html#7)