ISDS Case Map
Dominican Republic
The deadline for completion of a new farm bill has been pushed back to May 16. But the endless wrangling over a piece of legislation that Congress once hoped to finish in 2007 has not induced a significant change in the thinking of those who regard it as an opportunity to lock in lush new benefits for American agricultural producers.
The European Commission (EC) has flatly rejected as unfounded, suggestions that the CARIFORUM Group - Caribbean Community (Caricom) states and the Dominican Republic - was forced into the Economic Partnership Agreement (EPA) reached last December and that the negotiations were designed to split the ACP Group.
Figures from the Customs Agency (DGA) show Dominican Government has sacrificed RD$2.3 billion since the United States-Central America Free Trade Agreement began.
Dominican businesspeople do not see any advantages on the Free Trade Agreement signed between the Dominican Republic, the US and Central America (CAFTA-DR), said Ignacio Mendez, president of the Dominican Industrials Association.
The Dominican Republic and Guatemala are the only two countries in DR-CAFTA that have not been able to access money from the Millennium Account due to internal issues.
Direct foreign investment in Dominican Republic jumped to US$1.7 billion in 2007, year in which the DR-Cafta trade accord took effect in the country, the Central Bank said.
Costa Rica has won a seven-month extension from its U.S. and regional trade partners to pass laws required for its entry into the CAFTA free trade pact, President Oscar Arias said on Wednesday.
Dominican Republic has lost from the Dr-Cafta trade pact, which took effect one year ago on Saturday, RD$2.54 billion from lost tax revenues, the Customs Agency (DGA) said in a statement.
The possibility that Dominican Republic and Haiti could sign a free trade agreement as early as next year is being met with approval by commercial, governmental and industrial sectors, as well as economists and poultry producers, newspaper El Caribe said Sunday.
The Economic Association Agreement between Cariforum and European Union (EPA) countries will lead Dominican Republic and Haiti to negotiate a Free Trade Agreement in one year, said Industry and Commerce minister Melanio Paredes, during the Business Table organized by magazine The Economist.
