1999News

On new flexibility of Cuban embargo by US

Bernardo Vega feels that the DR would be affected by the new flexibility of the US government with Cuba if this leads to new steps such as a preferential sugar market quota assignation or an inclusion in the North American Free Trade Agreement in order to spur investment. Following an opening in Cuba, new developments will depend on maintenance of political stability there. He feels that if Cuba is admitted into NAFTA, this would negatively affect the DR’s free zone industry situation. Regarding the tourism industry, he said that the DR competes with Cuba with Castro or without Castro. On the positive side for the DR, Cuba is seen as a source of qualified and low cost manpower, while the DR could send Cuba managerial and construction personnel. Vega feels the DR has better positioned itself to gain foreign investors, now that major improvements have been made in the Dominican judiciary.