ISDS Case Map
CAFTA
US - Central America Free Trade Agreement
United States ambassador Hans Hertell denied yesterday that his nation is making last minute for incorporating the Dominican Republic to the Free Trade Agreement in July, affirming that what the U.S. only expects is that the Caribbean nation complies with what it originally negotiated and signed.
As of this upcoming weekend, the government faces two important challenges: Friday, June 30th is the last day for the legal standing of the 13% tax on imports, and on the next day, the 1st of July, the Free Trade Agreement (FTA) is scheduled to start.
A short term delay before implementing the DR-CAFTA trade accord should not significantly affect investment plans in the country, according to the U.S. investment company, Bear Stearns.
Three times a week, Julian Mux walks two hours from his small parcel of land in the Guatemalan highlands to the nearest road, carrying just-harvested miniature zucchini that will end up in U.S. supermarkets.
Only eleven days before the scheduled date for entering the DR-CAFTA trade accord, officials doubt that the stipulated time slot will be met, because, according to them, the Dominican Republic is in no condition to render to new U.S. exigencies by July 1st.
Whether the nation is ready or not, the 800-page DR-CAFTA treaty, replete with new rules and regulations, is set to become reality for the country.
Free trade under the current economic rules can only widen the gap between rich and poor in the Americas, said the head of the Guatemalan bishops' conference.
Approximately 80% of the 4,000 firms that operate in the country are not prepared to compete in the framework of the Free Trade Agreement with Central America and Central America (DR-CAFTA).
The Dominican Chamber of Commerce and Production yesterday requested of the government to avoid postponing implementation of the Free Trade Agreement with Central America and the United States.
The possible postponement of the Free Trade Agreement with the United States and Central America (DR-CAFTA) would secure for the central government additional income of, at least, RD$2,350 million during the second half of this year.
