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H.E. President Leonel Fernández and Ambassador Hans Hertell
H.E. President Leonel Fernández, Ambassador Hans Hertell, Ambassador Flavio Darío Espinal
and Secretary of State for Commerce, Francisco Javier García
As of March 1, 2007, the Free Trade Agreement Central America – United States – Dominican Republic officially entered into force for the Dominican Republic.
President George W. Bush issued a proclamation to implement DR-CAFTA for the Dominican Republic on February 28, after the completion of the technical process of harmonizing Dominican laws and regulations to the commitments in the agreement.
Dominican Republic became the fifth country to implement the agreement along with El Salvador, Honduras, Nicaragua, and Guatemala, and pending activation by Costa Rica.
President Leonel Fernandez, along with the United States Ambassador to the Dominican Republic, Hans Hertell, Dominican Ambassador to the United States, Flavio D. Espinal, and Secretary of Industry and Commerce, Francisco Javier García, announced on Thursday, March 1st, the official entry into force of the agreement, considering it a “historical day for the Dominican Republic”.
Two-way trade between United States and Dominican Republic reached almost US$10 billion in 2006. With the DR-CAFTA, the Dominican Republic will have permanent access to the US market, which will be a great incentive for the attraction of foreign direct investment and the creation of new economic opportunities for both countries.
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