NewsWhore
06-20-2007, 03:50 PM
One of the announced results of the Presidential junket to Brazil will be the construction of a textile mill. The announcement carried in today's Hoy newspaper says that 8,000 jobs will be created as a result. The textile mill will produce millions of yards of material for jeans. Josue Gomes, spokesman for Coteminas, an industry that sells more than US$2.5 billion worth of merchandise, made the announcement during a breakfast meeting with President Fernandez at the Gran Hyatt Sao Paulo. According to Luisa Fernandez from the National Council of Free Zones, possible locations under discussion include the Esperanza and Montecristi areas, but nothing has been decided, yet. The exact location depends of the quality of the water. According to Luisa Fernandez, the project may well involve Haiti, with the textiles being produced in the Dominican Republic, then being sent to Haiti for assembly, and then returning to the DR for re-export to the USA under the DR-CAFTA agreement. One of the key elements in the deal, according to Luisa Fernandez, is the fact that Brazilian textiles are taxed at a 25%-27% rate, versus a 0% for Dominican produced articles.
During his visit to Brazil, the President also advocated for a strategic trade alliance with Brazil. The DR imported US$366 million from Brazil last year, and exported US$5 million.
More... (http://www.dr1.com/index.html#7)
During his visit to Brazil, the President also advocated for a strategic trade alliance with Brazil. The DR imported US$366 million from Brazil last year, and exported US$5 million.
More... (http://www.dr1.com/index.html#7)