Wednesday, April 11, 2007

In Dominican Republic, Worries About Free Trade

CAFTA illustration ("It'll all be mine") by Tito Chamorro L.

Despite the assurances by the Dominican government of DR-CAFTA's success over the last three months, Manuel Diez, the President of the Dominican Industries Association (AIRD) has some doubts. In a recent press conference covered by Dominican Today Mr. Diez expressed his concern that the anti-dumping law enacted by the legislators of the country has yet to be implemented after five years of its passing.

[Manuel Diez] said that as the tariffs are eliminated within the framework of the Free Trade Agreement with the United States and Central America (Dr-Cafta), many companies devoid of legality seek to conduct dumping to takeover markets jeopardizing local companies.

Diez' fears are sound and rest upon the experience of other Free Trade signatories who have seem a marked drop in manufacturing and industrial production due to a flood of surplus American products.

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