Dominican Republic must halt corruption to get more out of free trade

Santo Domingo.- United States James W. Brewster Ambassador on Wednesday said for Dominican Republic to take more advantage from the free trade agreement (CAFTA-DR) it should create an environment that guarantees foreign investment, business contracts and confront bribery and corruption in international trade and investment.

He said even though it doesn’t seem easy, it will help the country attract foreign capital companies seeking a strategic location to export to U.S. and Central American markets.

The diplomat said after seven years since CAFTA-DR took effect, "we have a relationship that is mature in which our ties of trade and culture have become increasingly stronger."

Speaking in the Industry and Commerce Ministry’s launch of the DR-CAFTA 2015 strategy at the Dominican Republic Industries Association (AIRD), Brewster noted that both president Barack Obama and Secretary of State John Kerry reiterated that forging more trade agreements is a priority for the U.S.

For his part, Industry and Commerce minister said starting 2015, 97% of Dominican, Central American and U.S. product lines listed in the Treaty will enter duty-free.