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Ministry of industry says the country has deregulated 97% of its commerce

SANTO DOMINGO. The Minister of Industry and Commerce, José Del Castillo Saviñon, revealed yesterday that starting on 1 January of this year, the country deregulated 97% of its commerce, ending with the removal of 1018 lines of customs duties, which complete the last stage of the timeline of tariff reductions for the Dominican industrial sector, of which 811 correspond to the industrial sector and 207 to the farming and Agro business sector.

Participating as the keynote speaker at the breakfast of the National Association of Young Entrepreneurs (ANJE), Del Castillo Saviñon pointed out that there are still tariffs pending removal, to be completed in 2020 and 2025 for the most sensitive products of the farming production sector, among which he stressed Rice, yogurt, mozzarella cheese, chicken legs and powdered milk.

The official said that in terms of performance of the exports “with our principal commercial partner, we should underline the fact that the Dominican Republic has stood out as the second supplier to the United States of dental floss, circuit breakers and raw sugar.

“In a like manner, the country is distinguished as the third supplier of wool coats for women, the fourth largest in relation to medical – surgical instruments, the fifth provider of leather shoes for men and, in addition it is the eighth provider of jewelry articles,” he said.

Referring to a possible free trade agreement with Haiti, the minister explained that for now it is almost impossible, in spite of the fact that Haiti is the second ranking commercial partner of the Dominican Republic.

Nevertheless, Del Castillo Saviñon said that they are making efforts to improve the bi-national markets which are held on the frontier. “From the bilateral perspective, and recognizing the importance which Haiti has as our second individual commercial partner, we have focused on the development and execution of the DR – Haiti Bi-national Program, which is been the keystone for the start of a new stage in the history of Dominican – Haitian relations,” he said.

Source: DiarioLibre

March 14, 2015

Category: DR News |

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