DR-CAFTA still not ready

[NewsWhore]

Though the implementation law clearing the way for the country's entry into DR-CAFTA has been passed by Congress and the Senate, American Chamber of Commerce executive director William Malamud, says that five laws still need to be approved for the country to enter the DR-CAFTA agreement. According to Diario Libre, Malamud explained that laws on bribery in commerce and investment, modification to the law on public contracts, the international agreement on obtaining vegetables, the law for the implementation of that agreement, and the Budapest agreement for the deposit of microorganisms for obtaining patents still remain on the docket. Malamud explained that the government also needs to finalize regulations for Customs service rates and the issue of permits for pharmaceutical products. US ambassador to the Dominican Republic Hans H. Hertell, who also addressed the American Chamber of Commerce yesterday, said that the DR's slow entrance into the DR-CAFTA trade block is creating disadvantages for Nicaragua, El Salvador, Honduras and Guatemala which have already entered the treaty.

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