Establish protection mechanisms for Dominican sensitive sectors and include specific clauses to attract greater investment are two of The benefits that could obtain the country if it will sign a bilateral agreement with the United States instead of continuing with the Free Trade Agreement between the Dominican Republic, Central America and the United States (Dr-Cafta), said Katrina Naut, Specialist in International Trade.
He stressed that a bilateral agreement would allow the Dominican Republic to negotiate specific terms that favor its strategic sectors, instead of accepting general conditions established for the entire region under DR-CAFTA. “It should be noted that RD did not exclude any product from free trade to 2025 in the framework of DR-CAFTA,” he told today.
He indicated that a new renegotiation would allow a list of exclusion to free trade for sensitive products of the local economy, establish Protection mechanisms For local sensitive sectors, avoiding the unfair competition of US subsidized products.
He also stated that safeguarding mechanisms can be renegotiated to protect agricultural production and local manufacturing.
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It could also have greater flexibility in the rules of origin for dominican industrial and agricultural products and specific clauses can be included to attract greater US investment in strategic sectors such as renewable energy, advanced manufacturing and technology or negotiate incentives for US companies to use the RD as a production and export hub.
Naut who is the general manager of the consulting firm Naut & Associates He explained that it would allow reviewing and improving the conditions for key products, eliminating non -tariff barriers that affect the export of Dominican goods to the USA. In addition to including new trends and obligations for digital and Fintech trade and greater bilateral cooperation.
