Santo Domingo.- The President of the Round Table of Commonwealth Countries in the Dominican Republic on Monday said it’s preferable that the Industry and Commerce Ministry coordinate and direct international trade negotiations.
Fernando Gonzalez Nicolas said by Industry and Commerce’s very nature is closer to business and industry, which at the end of the day are the ones that free trade agreements benefit or jeopardize.
“Today we discuss where to concentrate trade negotiations, since the Foreign Affairs Ministry is responsible for the process of negotiation and Industry is responsible for managing the agreement,” the business leader said.
Gonzalez Nicolas noted that in Industry and Commerce Ministry’s accumulated experience in managing free trade agreements can be well capitalized to improve negotiations toward new agreements. “That’s the reason why Industry and Commerce Ministry should handle negotiations and agreements.”
He urged the continued training of negotiators and prioritizing caution and planning in negotiated future agreements so that free trade pacts ensure the creation of new export opportunities and sources of raw material but never hurting the local productive sector.
He proposed that the new authorities consider the success in his view small countries have achieved have, becoming economic powers by daring to bolster their exports and attracting foreign investment.
Citing small Commonwealth countries such as Singapore and Mauritius, Gonzalez Nicolas called their respective investment and promotion institutes strong and efficient. “They’ve contributed decisively to develop their economies and improve their populations’ welfare.”