Dominican
Republic, US move to jump-start free trade deal
Trinidad Express
SANTO
DOMINGO, Dominican Republic
Petroleumworldtt.com
11 12 06
This week's talks between Dominican President Leonel
Fernandez and US President George W Bush, among
other US officials, will likely jump-start a delayed
free-trade agreement between the two countries,
the foreign minister has said.
The
three days of meetings, which was scheduled to begin
yesterday and include talks with the US Treasury
Department and the World Bank, "will smooth
the road" toward implementing the Central American
Free Trade Agreement, Foreign Minister Carlos Morales
Troncoso said in a statement.
"I
believe the accord will be in force in very short
order," he said.
The
Dominican Republic is one of six Latin American
signatories to the CAFTA-DR, the US free trade agreement
approved in 2005. The pact was supposed to take
effect in the Caribbean nation on Jan 1, but the
country has not passed legislation needed to implement
parts of the deal.
Some
of the delays stem from conflicts between US and
Dominican intellectual property law, including issues
related to pharmaceutical manufacturing. Guatemala,
Honduras, Nicaragua and El Salvador entered the
pact this year after delays. Costa Rica has yet
to ratify it.
Fernandez's
meetings will also focus on his country's participation
in Venezuela's regional oil programme, Petrocaribe,
and programs to increase the use of alternative
and renewable fuels.
Trinidad
Express
Wednesday, November 8th 2006
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