Caricom Dominican Republic Free Trade Agreement

December 4th, 2020| Posted by admin
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The Council regularly reviews trade finance agreements between CARICOM member states and the Dominican Republic and recommends mechanisms that can be put in place to facilitate this activity. (ii) the promotion and extension of the sale of products originating in the territory of the contracting parties, including free access to the markets of the contracting parties, the elimination of non-tariff barriers and the establishment of a system of rules of origin, customs cooperation and harmonization of technical, sanitary and plant health procedures; The parties agree to extend and adopt an agreement on intellectual property rights, taking into account the rights and obligations set out in the agreement on aspects of intellectual property rights that governs the wto and other relevant international agreements signed by all CARICOM member states and the Dominican Republic. The free trade agreement is between the United States, the Dominican Republic, Costa Rica, the Northern Triangle and Nicaragua. The parties agree to act towards the adoption of conventions aimed at preventing and avoiding double taxation between CARICOM member states and the Dominican Republic. The agreement facilitates the creation of a free trade area by removing tariffs, non-tariff measures, quotas and similar provisions of Member States. The majority of the European Union (EU) is made up of the EPA. The countries of the Cariforum are: Antigua and Barbuda, Bahamas, Barbados, Belize Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Christopher and Nieves, St. Luca, St. Vincent and the Grenadines, Surinam, Trinidad and Tobago. 2. Until the adoption of the agreement in paragraph 1, the provisions of trips and other relevant international agreements to which all CARICOM Member States and the Dominican Republic are signatories apply to intellectual property issues that may arise between them.

CONSIDERING that the Member States of Caricom and the Dominican Republic, as members of the World Trade Organization (WTO), as well as other relevant international agreements, as well as the rights and obligations existing between CARICOM member states under the Treaty of Chaguaramas exist; 2. Commitments made prior to the cessation of trade in goods and services apply for a further one-year period, unless the contracting parties agree to a longer period. The Dominican Republic has signed five free trade agreements, the largest part of which in the export system is the DR-CAFTA (free trade agreement between the Dominican Republic, Central America and the United States) and the EPA (Economic Partnership Agreement). Under this contract, 103 Dominican products arrive in Panama duty-free. Similarly, the Dominican Republic allows duty-free access to 101 Panamanian products. In addition, there is a list of products manufactured in the free zones or in the export processing area. The regulations provide for the possibility of including more products in free trade. (iii) the gradual liberalisation of trade in services; The contracting parties agree to implement a programme to liberalize trade in goods between them. The parties agree to promote the active participation of the private sector in achieving the objective of this agreement.

To this end, the parties establish a CARICOM/Dominican Republic Economic Forum to analyze trade and investment opportunities, exchange trade information and hold trade meetings and address all other relevant issues, including all issues that may be referred to them by the Council.

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