2004News

Zoellick: good investment opportunities

For his part, US Trade Representative Robert Zoellick, who is currently in the Dominican Republic, said that Dominican farmers would not be adversely affected by the agreement, but would benefit. Speaking during a visit to the Presidential Palace, Zoellick – who according to Diario Libre is reputed to be a “tough negotiator” – said that agriculture, like other areas of trade, would have to be handled in a balanced way. He said the removal of trade barriers would open new export opportunities to the farming sector, but predicted that the removal of tariffs would reduce the price of imported agricultural inputs used by Dominican farmers, such as animal feed and fertilizers. In any case, explained Zoellick, the removal of tariffs would be gradual, in some cases over a course of 15 to 18 years. While acknowledging the Dominican Republic’s economic trials and tribulations of the last year, he had some positive words about the country as a trading partner with good investment opportunities. Zoellick is planning a series of meetings with diverse sectors on Dominican society, including business leaders, political parties, non-governmental organizations and civil society groups. The first round of negotiations towards the free trade agreement began on 12 January and is due to conclude on the 16th.