Deputy Minister of Foreign Relations Frederic Emam Zade highlighted the benefits the Central American and Caribbean free trade agreements will generate for the Dominican Republic. He said that the country will have savings of RD$5,500 million in taxes in the first year. He said that Dominicans will be able to sell and buy goods free of import duties. Emam Zade said Dominican companies will now have preferential access to a market fivefold the size of the present market, or 42 million persons in 19 countries. Emam Zadé spoke at the Expo Muebles furniture exhibition held over the weekend. The free trade agreement will permit situations such as Dominicans importing wood from Guyana, having it cut in Trinidad, and then manufacturing furniture in the DR for sale to Caribbean islands. The Dominican Republic and Caricom are expected to sign the finalized free trade agreement in the National Palace on 19 April. When that happens, the DR will be the country of the Americas to have signed the most free trade agreement – six with Central America and 14 with Caribbean nations. DR negotiators are working on agreements with Chile and Cuba. The agreements need to be passed by Congress to become effective.
