News on Canada

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Copper and gold, silver mine

Vice President Rafael Alburquerque led the inauguration of operations at the Canadian mining company GlobeStar Mining and the Dominican Mining Corporation in the Cerro de Maimon. The companies will process gold, silver and copper. US$100 million has been invested in the first phase and will create 225 new jobs on site. At full production, Cerro de Maimon is expected to produce approximately 33.5 million pounds of copper, 18,000 ounces of gold and 500,000 ounces of silver annually.
The Cerro Maimon mine is located in the community of Los Martinez, near the city of Maimon in the province of Monsignor Nouel (Bonao).
GlobeStar president Larry Sicarelly pledged that the operation would be carried out respecting environmental standards and added that the company is working closely with the local community. Canadian ambassador Patricia Fortier also spoke at the opening, telling the audience that this was just one instance of Canada's confidence in the DR's security and guarantees of foreign investment.
See www.globestarmining.com/

20 November 2008 - DR1 Daily News

DR and Canada stir rumors

The DR and Canada have resumed free trade talks, according to the Ministry of Foreign Relations. Deputy Minister Manuel Trullols explains that both sides have agreed to exchange information and continue developing the foundation for trade negotiations. The Canadian Embassy is compiling updates on investment, cooperation, competitiveness, commercial rights, the environment and tourism to prepare for the agreement. Dominican officials explained that negotiations had been put on hold because the DR had given preference to negotiating DR-CAFTA with the US. Once those talks were completed, the DR moved on talks with the European Union and Caribbean Community. These were concluded with the approval of the European Partnership Agreement, early this year, albeit with opposition from Caricom states. Regardless, the time seems to have come to give priority to the Canadian trade talks.

07 October 2008 - DR1 Daily News

Canada negotiations resume

On 29 September the DR and Canada will resume negotiations for a free trade agreement. Talks have been on the table for some time and many thought once the DR finished the European Partnership Agreement with the European Union, the Canadian talks would run smoothly. For reasons unknown, after the first round of talks were completed in February, negotiations were put on hold.
Speaking at an ADOEXPO event, Canadian Ambassador to the DR Patricia Fortier explained that each year more than 600,000 Canadians visit the DR, but only 2% of the DR's exports are sent to Canada. Fortier added that with the signing of an agreement and the negotiations of a open airspace, "blue skies," there can be an increased trade balance. According to Eduardo Dominguez, president of the Dominican Canadian Chamber of Commerce, the DR only exports US$25 million worth in goods and services to Canada, compared to US$600 million with the US, or 27% of total exports.

04 September 2008 - DR1 Daily News

Canadian company gets approval

Canadian mining company Diagnos has received permission from the Dominican government to explore the 253 square km Maple property located at 15 kms of La Vega in the central part of the DR. The property is regarded as having high potential for gold and other precious and base metals. The exploration project will be completed as a joint venture with the Canadian firm MaxTech.
http://www.diagnos.ca/english/pdf/News%20room/September_3_2008.pdf

04 September 2008 - DR1 Daily News

Canadian free trade agreement in limbo

Listin Diario is reporting that negotiations for a free trade agreement between the Dominican Republic and Canada have been indefinitely suspended and sources have no idea when talks are likely to resume. The negotiations were entering their second round of a total of five scheduled. Last December the first rounds were held in Ottawa, and the second round was to be held between Monday and Wednesday of this week. Eduardo Tejera, former Dominican ambassador to Canada now assigned to the Foreign Ministry, expressed his disappointment about the suspended negotiations and explained that there was some confusion on the part of the Dominican industrial sector. The areas of confusion were enough cause for the Dominican Foreign Ministry to suspend the negotiations unilaterally. Tejera explained that the industrial sector's stance reflected misinformation, based on a perception that the recently signed European Partnership Agreement with Caricom and the European Union would affect negotiations with Canada.

February 22 2008 - DR1 Daily News

Exports to Canada decrease

Trade with Canada declined by 18.3% during the first 10 months of the year. Center for Exports and Investment (CEI-RD) statistics indicate that Canada went from number 8 to number 13 on the list of recipients of Dominican exports. Between January and October 2006, DR exports to Canada were valued at US$43 million, while during the same period in 2007 exports were valued at US$24 million. Among the products that are exported are nickel, eggplants, cacao, porcelain sinks, mangos, peppers and other products.
Canada and the Dominican Republic are holding talks for the signing of a free trade agreement, expected to increase trade between both countries. The first of five rounds of talks has already taken place and the next round is scheduled for February 2008.

27 December 2007 - DR1 Daily News

FTA with Canada

The first round of trade negotiations with Canada took place with officials discussing an increase in cooperation between both countries and the increase in Canadian aid in the area of private sector development. As reported in Listin Diario, Foreign Relations Minster Carlos Morales Troncoso and chief negotiator Juan Guiliani Cury explained that the FTA would attract foreign investments and agro-industrial companies. The first of the five rounds of negotiations took place between 10 and 14 December in Ottawa. The DR is looking for Canada to open up to Dominican free trade zones and officials feel that this would boost investment as well as increasing exports of agricultural products like tropical fruit and organic products. Guiliani says that Canada offers great opportunities for all Dominican fruit exporters and rum producers.

20 December 2007 - DR1 Daily News

DR and Canada start FTA talks

Representatives from the Dominican Republic and Canada have begun the first of five rounds of talks aimed at reaching a Free Trade Agreement between the two nations. The talks are being held in Ottawa, according to the head of the Dominican-Canadian Chamber of Commerce, Eduardo Dominguez. The FTA with Canada will be based on a similar agreement already in place with Costa Rica, but with a much wider scope, according to the DCCC. The first items on the agenda will include intellectual property and all the aspects relating to copyrights and market access. Juan Giuliani Cury, the vice-minister for Foreign Relations for Economic and Trade Negotiations and a team of 20 experts are attending the meeting.

10 December 2007 - DR1 Daily News

FTA talks with Canada

The first round of Free Trade Agreement negotiations with Canada is scheduled for 10 to 14 December 2007 in Ottawa. It is anticipated that Canada and the DR will exchange initial tariff offers for goods by early 2008 with subsequent requests for improvements to the other party's tariff offer.
On 7 June 2007, David Emerson, Minister of International Trade, had announced the launch of the FTA talks. Negotiating for the Dominican Republic is the Ministry of Foreign Relations, through its office of Trade Negotiations.
The DR is an important and established trade and investment partner for Canada. Two-way merchandise trade between Canada and the DR totaled $277 million in 2006, according to the Canadian government. Of this, most are imports from Canada. Canadian investments in the DR are worth over US$2 billion.
The FTA seeks to restore the competitiveness of Canadian exports that were affected by the implementation of DR-CAFTA with the United States that provides duty free entry for most US goods.
See http://dr1.com/trade/categories/Trading-Partners/North-America/Canada/

7 December2007 - DR1 Daily News

Canada FTA talks set for October

Juan Guiliani, deputy minister in charge of trade negotiations at the Ministry of Foreign Relations, has told Diario Libre that negotiations leading to a free trade agreement with Canada are due to begin this coming October. The talks could continue through May or June 2008. The first round, which is set to start in Santo Domingo on 22 October, will continue through 26 October. A second round is planned for Ottawa, from 10-14 December. A third meeting is planned for the third week of February 2008 in Santo Domingo. Dates have not been fixed for the fourth and expected final round. This could take place between April and June, said Guiliani. Canada-DR trade is at US$600 million per year, and Canadian investments in the DR are worth an estimated US$1.8 billion.

30 July 2007 - DR1 Daily News
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