2004News

FTA moves on to third round talks

Assistant US Trade Representative Regina Vargo and DR Industry & Commerce Minister Sonia Guzman concurred in describing the second round of talks for the signing of a bilateral trade agreement as invaluable, reported John Collins for Caribbean Business. “It’s not over until it’s over,” said Vargo. “While the DR has not accepted our offer, we expect the talks to continue in Washington.” He highlighted that Vargo indicated that 90% of the agenda had been addressed, with a remaining 10% left to be covered in Washington when the talks resume in mid March. Topics left for last include issues to do with intellectual property, services, agriculture, manufactured goods and the exclusive distribution laws in both the DR and Puerto Rico. Describing the San Juan talks as “very productive,” Vargo said, “It gave us a much keener awareness of the vibrant relationship between Puerto Rico and the DR. There were a number of sensitive areas discussed, including opening up markets to industrial and agricultural goods.” She emphasized that the US “doesn’t want to introduce wrenching changes in the DR economy, but rather enhance the trade relationship that has developed under the Caribbean Basin Initiative (CBI).”