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Fernandez goes to Madrid for EU summit
posted on: May 15 2010 8:49 by Royston. Viewed 369 times.
Dominican Republic, as part of the Caribbean Forum (Cariforo), will participate in the E.U.-Latin America summit which starts Saturday morning in Madrid, where there has already been a mini-summit to discuss issues relevant to the region and at a time when imports of consumer goods within the Economic Partnership Agreement are increasing.
It is expected that President Leonel Fernandez will travel to Madrid, Spain, on Sunday evening to attend the Sixth Summit of Heads of State and Government of EU, Latin America and the Caribbean on Tuesday morning.
Data from the Director General of Customs (DGA) of the Dominican Republic indicate that, from 2009 to February this year, Dominican imports protected by EPA tariff preferences reached a total of US$31.7 million. These imports are dominated by sparkling wine and spirits (mainly whiskey) from Spain and the UK.
It is expected that EU-LAC Summit, which runs until next Wednesday, will create the protocols necessary for full implementation of the Economic Partnership Agreement between the EU and CARIFORO, as there will be a meeting of the two bodies later.
The Summit is attended by Foreign Minister Carlos Morales Troncoso and Deputy Foreign Minister Jos Manuel Trullols, among others. It is expected that the EU will sign the trade and development agreement with Colombia and Peru, however, it was reported that Bolivia does not support the Joint Declaration.
The EU negotiates trade and development agreements with 78 African, Caribbean and Pacific countries (ACP). These agreements are divided into six blocks and Cariforo (Caribbean Forum) brings together the 14-nation Caribbean Community (CARICOM) plus the Dominican Republic, Cuba and Haiti.
The Dominican republic has growing trade relations with Europe. The major exports go to Holland, followed by Belgium, Spain, United Kingdom, Germany, Italy, France and Ireland, according to the Center for Export and Investment of the Dominican Republic (CEI-RD).
The country sold to Europe in January-February this year sugar, handmade cigars, disposable medical products, footwear, cotton, cocoa beans, cement and organic bananas.
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