Trade with Haiti worsening

[NewsWhore]

The lack of an established free trade agreement between Haiti and the DR is leading Haiti to impose indiscriminate tariffs on Dominican goods, which is adversely affecting trade between the neighboring countries. Dominican Business Federation (FDC) president Ivan de Jesus Garcia pointed out the example of steel, which used to sell for US$600 per ton and is now on the market for US$1,100 per ton, due to the increasing tariffs. Garcia says that the high tariffs basically make it impossible to take Dominican steel into Haiti. De Jesus says that trade with Haiti has dropped by 80% because of the increased tariffs and new paperwork required. Garcia explained that the Haitian government paperwork requirements call for a two-month long procedure for importing a goods container.

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