Dominican Republic prepares to sign a new Economic Partnership Agreement (EPA) with EU
As the Dominican Republic prepares to sign a new Economic Partnership Agreement (EPA) with Europe as part of CARIFORUM (CARICOM and the Dominican Republic), a former Ambassador is suggesting that the move will work in that country's favour. But he says the protectionism which other Caribbean countries have become accustomed to could put them at a disadvantage when they're forced to open up their markets. Bernardo Vega says the new trade deal which is expected to be signed on March 31st and provisionally applied on April 1st provides certainty for investors and is much more beneficial than the Dominican Republic-Central America Free Trade Agreement (DR-CAFTA). "Unlike DR-CAFTA, the EPA recognises concepts like non-reciprocity and slower opening up of markets by the Caribbean. It also provides temporary migration facilities and guarantees a certain volume of aid not available under DR-CAFTA," he said.
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