Talks advance for free trade agreement with South Korea

[Dolores]

Dominican ambassador to South Korea, Federico Cuello has been addressing the issue of free trade with South Korea for years now. Vice President Raquel Peña visited South Korea this past April 2023 to foster closer relations. In Santo Domingo for the Christmas holidays, Cuello gave Hoy an interview stressing the advantages of signing a free trade agreement with an Asian country.

Talks have been ongoing with the Dominican government. The move would improve the competitiveness of South Korean exports, including vehicles and cell phones, at a time when low cost Chinese vehicle imports are flooding the market.

South Korea has already had free trade since 2021 with several Central American countries — Panama, Costa Rica, Honduras, Nicaragua, and El Salvador.

The free trade agreement with the DR agreement would reduce the cost of high-tech items such as cell phones...

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[windeguy]

How would they still maintain the very high prices on Kia's and Hyundai's?

Come up with a new tax again after they enter the DR?

 

[JD Jones]

How would they still maintain the very high prices on Kia's and Hyundai's?

Come up with a new tax again after they enter the DR?

I sure hope so.

 

[chico bill]

How would they still maintain the very high prices on Kia's and Hyundai's?

Come up with a new tax again after they enter the DR?

Wouldn't be very fair trade if they tax it the same

 

[windeguy]

Wouldn't be very fair trade if they tax it the same

When the DR-CAFTA FTA was signed the DR jacked up a new few for vehicles that made up for the loss in customs duty.