Dominican ambassador in D.C. says Free Trade entails huge challenges for Dominican Republic

http://www.dominicantoday.com 02/11/06

Santo Domingo.- The Dominican ambassador in Washington, D.C., Flario Espinal, yesterday said that the Dominican Republic faces enormous challenges in social, institutional and competitive aspects, to be had upon implementation of the free trade agreement with the United States and Central America (DR-CAFTA).

He cited that the problems in the energy and education sectors are critical. Espinal also referred to the regulations and practices incidental in forming and developing business enterprises.

“It will also be necessary to undergo revisions as to ways of doing business, given that the horizon of entrepreneurial activity broadens from the internal to the international markets, given the current processes of worldwide integration and globalization,” according to the ambassador.

Espinal considered that, given the forthcoming implementation of the DR-CAFTA, the nation should open to debate on how to best assume opportunities offered by this treaty with the most important economy in the world.