DRSol is Dominican News, Weather, Videos, Forums & Travel Information
                        Support DRSol - Visit our Sponsors!  
Untitled Document

Le Soleil Dominicain
"Nouvelles Quotidiennes de la Republique Dominicaine en Anglais Depuis 2004"
Friday, April 27th, 2012
EnglishEnglish EspanolEspanol Deutsch Francais
DR-CAFTA review
Story Text & Photos © 2012 by DR1 Apr 27 2012 14:59PM
DR1 - Speaking at the American Chamber of Commerce luncheon yesterday, Wednesday, 25 April, Industry and Commerce Minister Manuel Garcia Arevalo said that the free trade agreement between the United States, Central America and the Dominican Republic has led the DR to be the third largest exporter and the second in total trade volume among signatories. Trade volume with the US alone totaled more than US$11. 5 billion in 2011, and foreign investment of US$14. 7 billion (from 2006-2010). Dominican exports from 2010 at US$3. 68 million increased to US$4. 19 billion, for a 13. 8% increase. In his presentation on the past five years of DR CAFTA he said that 4,700 manufacturing companies in the DR reported exports. He said this is 13% of all companies registered with the social security for employees. He said of these, small and medium-sized business exported US400 million. And of these, 25% exported to the US and other countries. He said that 62% of companies with more than 200 employees also exported. He said this is proof that Dominican businesspeople are aware that under the new scheme of open markets, "we need to be creative and competitive" to export. He mentioned that cigar exports have increased by 7. 5% a year on average, medical instruments 8. 1%, jewelry 3. 8% and footwear 14. 7%. He said that the DR has moved from being an exporter of apparel to an exporter of textiles to Haiti for assembly into clothing for export. Garcia Arevalo said that 78% of the trade deficit with the United States is made up of five items n petroleum, machinery, vehicles, cereals and plastic parts, none of which are produced locally. He commented that the treaty has had a positive effect on implementation of reforms based on transparency. Speaking at the event, the president of the American Chamber of Commerce Julio Virgilio Brache said that the DR-CAFTA needed to be seen as an opportunity and not an obstacle to national development. Read original at DR1.


   Bookmark to:www.drsol.info Del.icio.us Bookmark to:www.drsol.info StumbleUpon Bookmark to:www.drsol.info Slashdot Bookmark to:www.drsol.info Yahoo Bookmark to:www.drsol.info Newsvine

(Posted 14:59 Friday by DRSol NewsHound. Viewed 79 times.)
0 CommentsSend to FriendPrintableView Full

EnglishEnglish EspanolEspanol Deutsch Francais  
Display an exclusive DRSol Translated version of these news items  

Properties for sale by owners. Save money!

Today's Exchange Rates

  Our Thanks to These Fine Providers:
    IconDrawer for the Country Flag Icons

DRSol is ©2004-2008
by Xanadu Digital Web Services. All Rights Reserved.


localhost / drsolinfo_admin / alba2204
Could not connect to drsolinfo_portal:Table './drsolinfo_portal/ds_views' is marked as crashed and should be repaired