DR competitive disadvantages

[NewsWhore]

Businessman Celso Marranzini and the Dominican Association of Industry (AIRD) say that the DR's competitive weaknesses and delays in the gradual reduction of tariffs on a series of products have impeded the country from taking advantage of the free trade agreements that have been in effect with Caribbean Common Market (Caricom) and Central America. Cirse Almanzar, executive director of AIRD, says discussion of the tariffs is pending. Hoy writes that Caricom countries fear losing income from the tariffs, as their economies depend on Customs revenues. Caricom is exporting US$275 million to the DR while the DR exports around RD$20 million to Caricom. The bulk of the exports, nevertheless, comes from natural gas imported from Trinidad.

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