NewsWhore
08-26-2010, 04:30 PM
Puerto Rican Secretary of State Kenneth McClintock highlighted the potential of the strategic alliance between Puerto Rico and the DR re-launched during President Leonel Fernandez's visit to Puerto Rico, during his talk at the American Chamber of Commerce. He stressed that Puerto Rico has the advantage of being part of the US Customs Zone, which gives it access to markets of countries with which the US has free trade agreements. He said that Puerto Rico is the DR's second largest trading partner with the DR after the US.
He feels that by working together, the countries can successfully compete against Asia for US apparel contract work. He favors retaking the twin plant concept that was successful under the Caribbean Basin Initiative one step forward. He said that geography was the essence of the agreement. He says that in today's world products are produced in different countries and geography makes the DR and Puerto Rico natural partners.
He announced plans to work with the Santo Domingo Cyberpark and said the market would determine the volume of investment in each country.
McClintock also holds the role of Puerto Rican Lieutenant Governor and is first in line of succession to Governor Luis Fortuno.
Speaking at the event, Alejandro Pena Prieto, president of the American Chamber of Commerce said that as well as being the DR's second largest trading partner, Puerto Rico is the fourth largest buyer of Dominican exports. He said that trade from 2005 to 2009 totaled US$5.8 billion. He said the new alliance seeks to develop flexible cooperation mechanisms to promote trade and investment in both countries.
More... (http://www.dr1.com/index.html#8)
He feels that by working together, the countries can successfully compete against Asia for US apparel contract work. He favors retaking the twin plant concept that was successful under the Caribbean Basin Initiative one step forward. He said that geography was the essence of the agreement. He says that in today's world products are produced in different countries and geography makes the DR and Puerto Rico natural partners.
He announced plans to work with the Santo Domingo Cyberpark and said the market would determine the volume of investment in each country.
McClintock also holds the role of Puerto Rican Lieutenant Governor and is first in line of succession to Governor Luis Fortuno.
Speaking at the event, Alejandro Pena Prieto, president of the American Chamber of Commerce said that as well as being the DR's second largest trading partner, Puerto Rico is the fourth largest buyer of Dominican exports. He said that trade from 2005 to 2009 totaled US$5.8 billion. He said the new alliance seeks to develop flexible cooperation mechanisms to promote trade and investment in both countries.
More... (http://www.dr1.com/index.html#8)