NewsWhore
01-25-2012, 04:30 PM
Manufacturers from Central America and the Caribbean met in Santo Domingo yesterday to discuss manufacturing in the region and measures for improving competitiveness, increasing jobs and wealth.
As reported in Hoy, during the meeting, representatives of the Federation of Industrial Chambers of Central America (Fecaica) and industry in the Dominican Republic discussed measures that would contribute to improvements in the area. Representing the Dominican industrial sector, Julio Virgilio Brache, president of the American Chamber of Commerce in the Dominican Republic, said that there is also concern about the Customs tariffs.
During the meeting, the industrial representatives stressed that quality of government spending needs to be added to discussions on fiscal reform. Brache said so far the experience has been to limit these discussions only to ways of increasing taxes and revenues for the government.
Both Brache and Juan Antonio Busto, president of Fecaica stressed that it is not about whether there are more or fewer tax collections, but that what is being collected is invested efficiently or is really contributing to make each of our countries more prosperous. The quality of spending needs to be an expression of our government's commitment to ensuring that what is collected is invested well," declared the industrialists.
These and other reasons were put forward by Dominican industry spokespersons to explain the DR's trade deficit with Central America.
The business representatives agreed to identify the customs regimes and special tax regimes to propose that the regional governments include them in the Central American and Dominican Republic free trade agreement.
Central America and the Dominican Republic are united for trade under the Central American and Dominican Republic bilateral and the DR CAFTA free trade agreement with the United States.
Intra-regional trade between Central American countries and the DR reached US$3.8 billion in the first half of 2011, a 18% increase in relation to the same period in 2010. Trade to the US has experienced significant growth, going from US$44 billion in the first eleven months of 2010 to US$54 billion in the equivalent period during 2011, a 23% increase.
More... (http://www.dr1.com/index.html#8)
As reported in Hoy, during the meeting, representatives of the Federation of Industrial Chambers of Central America (Fecaica) and industry in the Dominican Republic discussed measures that would contribute to improvements in the area. Representing the Dominican industrial sector, Julio Virgilio Brache, president of the American Chamber of Commerce in the Dominican Republic, said that there is also concern about the Customs tariffs.
During the meeting, the industrial representatives stressed that quality of government spending needs to be added to discussions on fiscal reform. Brache said so far the experience has been to limit these discussions only to ways of increasing taxes and revenues for the government.
Both Brache and Juan Antonio Busto, president of Fecaica stressed that it is not about whether there are more or fewer tax collections, but that what is being collected is invested efficiently or is really contributing to make each of our countries more prosperous. The quality of spending needs to be an expression of our government's commitment to ensuring that what is collected is invested well," declared the industrialists.
These and other reasons were put forward by Dominican industry spokespersons to explain the DR's trade deficit with Central America.
The business representatives agreed to identify the customs regimes and special tax regimes to propose that the regional governments include them in the Central American and Dominican Republic free trade agreement.
Central America and the Dominican Republic are united for trade under the Central American and Dominican Republic bilateral and the DR CAFTA free trade agreement with the United States.
Intra-regional trade between Central American countries and the DR reached US$3.8 billion in the first half of 2011, a 18% increase in relation to the same period in 2010. Trade to the US has experienced significant growth, going from US$44 billion in the first eleven months of 2010 to US$54 billion in the equivalent period during 2011, a 23% increase.
More... (http://www.dr1.com/index.html#8)