NewsWhore
10-06-2010, 03:40 PM
High manufacturing costs, due in part to the high cost of electricity and labor, and government taxes and red tape have deterred Dominican companies from exporting. Nonetheless the president of the Dominican Association of Exporters, Kai Schoenhals and the executive vice president of the Association of Industries of the DR (AIRD) Circe Almanzar, say that Dominicans have yet to develop an export-oriented culture and lose their fear of exporting. Meanwhile, the DR drags a US$7.4 billion trade deficit in 2009 with fellow DR-CAFTA trade agreement signatories.
The country exported products for a value of US$4.69 billion to DR-CAFTA nations in 2009, while it imported goods and services for more than US$12 billion, producing a deficit of over US$7.3 billion, according to the Ministry of Foreign Relations.
Exports to the United States alone accounted for US$3.3 billion in 2009 while imports were for US$5.27 billion, according to the Ministry of Hacienda.
Schoenhals and Almanzar are calling for a new economic model for the country to take better advantage of the trade agreements. Schoenhals says that in the face of the large trade deficit, the government has to start giving incentives and facilities such as speeding up paperwork, and eliminating unnecessary expenses so companies can compete in the free market. According to Schoenhals and Almanzar, the lack of an export culture is what aggravates the problem.
More... (http://www.dr1.com/index.html#11)
The country exported products for a value of US$4.69 billion to DR-CAFTA nations in 2009, while it imported goods and services for more than US$12 billion, producing a deficit of over US$7.3 billion, according to the Ministry of Foreign Relations.
Exports to the United States alone accounted for US$3.3 billion in 2009 while imports were for US$5.27 billion, according to the Ministry of Hacienda.
Schoenhals and Almanzar are calling for a new economic model for the country to take better advantage of the trade agreements. Schoenhals says that in the face of the large trade deficit, the government has to start giving incentives and facilities such as speeding up paperwork, and eliminating unnecessary expenses so companies can compete in the free market. According to Schoenhals and Almanzar, the lack of an export culture is what aggravates the problem.
More... (http://www.dr1.com/index.html#11)