1998News

NAFTA parity could pass in year 1999

Dominican ambassador in the United States, Bernardo Vega is optimistic that the devastation Georges and Mitch hurricanes wreaked in the Caribbean and Central America may have had a softening effect on US congressmen that may now be more prone to vote for NAFTA parity that would grant Caribbean and Central American nations similar trade treatment as that granted Mexico as a result of the North American Free Trade Agreement (NAFTA). The granting of parity would enable these nation’s free zone industry textile manufacturers to compete with the advantageous quota-free and tax-free conditions the NAFTA agreement has brought to Mexico. Vega told El Siglo newspaper that for the first time in his two years as ambassador in Washington, D.C. he is optimistic about the approval of legislation on textile parity. "Key congressmen such as Robert Livingston, who will replace Newt Gingrich as speaker of the House of Representatives and senator Trent Lort, have stated, in recent days, their support to legislation of this kind," he said. He said that the legislation is being included in a bill that would provide assistance to countries affected by the hurricane is sponsored by Senator Bob Graham of Florida. The bill will be introduced 19 January. The legislator was recently in the DR participating in a meeting of congressmen of the Americas. The DR is the fourth most important apparel supplier to the US after China, Hong Kong and Mexico.