The World Trade Organization is concerned about the current dependence of Dominican foreign trade on a few commodities, especially textile products. At a multilateral meeting on the Dominican Republic in Geneva, WTO officials indicated that the country’s economy is in a very vulnerable position because it has failed to diversify its exports and markets. Even more so, when one considers that some of these products are subject to strong protectionism.
Anne Anderson, the Irish ambassador and acting trade policy investigator at the WTO, says that many of the country’s trading partners have cautioned against its heavy reliance on the U.S. market. Approximately 90 percent of Dominican exports go to the United States. She also reports that a significant number of WTO member nations believe that the free trade zones undoubtedly constitute a positive development in the Dominican economy. Nonetheless, they consider that the nation should strike a better balance between this sector and the rest of the economy by promoting mutually beneficial links. Finally, the trade delegates stressed the need for the Dominican government to enhance the current regulatory environment, which they termed as “noticeably incoherent”.