Customs: Europe-Cariforum trade deal benefits Dominican Republic most

Dominicantoday.com, Santo Domingo, January 4th 2008

One of the most important benefits obtained in the negotiations in the Economic Association Agreement between the European Union and the nations in the Cariforum Bloc - which includes Dominican Republic - was to a get lowered duties during 25 years and an exclusion list surpassing the one negotiated in the previous accords.

Jose Rivas Tavarez, head of the Customs Agency’s (DGA) International Market Relations Department and coordinator of the Inter-institutional Access Market Group, said the negotiation is part of Dominican Republic’s commitment to economic development, through technical and financial assistance; factors which he said weren’t present in previous agreements.

He said once the agreement takes effect, 52.8 percent of the European Union’s imports would be completely liberalized, or zero tariff, and equals 70 percent of the total trade between Cariforum and the European Union.

In the negotiations and the agreement to take effect after its definitive signature in April, 2008, Customs had a key participation and it’s committed to continue with its ongoing modernization process, as a facilitator of commerce.

In a statement, Rivas also said that another important aspect of the agreement is the concession of the regional preferences through which Cariforum’s 15 countries grant within its same bloc, the same conditions given to the other bloc. "With this agreement the region’s trade closeness increases and thus favors the regional integration process, in the areas of trade, services investment and in topics such as intellectual property and governmental purchases."

He said the measure will allow local producers and exporters to increase their exports to Caribbean countries, which had certain restrictions in the bilateral pact which the Dominican Republic negotiated with the CARICOM countries.