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Leading trade organization calls for expanded pact with CARICOM

Santo Domingo. – The president of the Roundtable of Commonwealth Countries in the Dominican Republic on Thursday proposed taking advantage of the 40th anniversary celebrations of CARICOM, to work to expand the regional free trade agreement.

Fernando Gonzalez Nicolas suggests joint efforts to expand the scope of the Free Trade Agreement between the Caribbean Community (CARICOM) countries and the Dominican Republic. “With an expanded pact more Dominican industries can benefit from the Agreement and can also buy raw materials at competitive prices and find markets for their exports.”

He said a revamped agreement will allow local industries access to CARICOM countries in terms of raw materials and make them more competitive. “It’s essential for the CARICOM Joint Council to meet as early as possible, this is the agreement top governing body and it awaits to resolve pending issues.”

Gonzalez Nicolas, who called the CARICOM pact one of the country’s “best negotiated agreements,” added that it has contributed to the healthy and significant growth of Dominican Republic’s bilateral trade with the region.

Anniversary

CARICOM fetes its 40th anniversary today in Trinidad and Tobago, where Dominican Republic will be represented by president Danilo Medina.

The Roundtable of Commonwealth Countries in the Dominican Republic is an organization promoting bilateral relations with the 54 countries members of the global organization, which includes CARICOM’s 13 countries.

The CARICOM Agreement was signed in August 1998 and implemented from 2001. CARICOM is formed by Trinidad, Barbados, Guyana, Jamaica, Belize among others, all of which are of British origin.

Source: DT

Category: DR News |

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Last updated December 4, 2016 at 1:52 AM
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