Trade Agreement Between Dominican Republic and Curacao

Authorities in both countries announced the launch of negotiations for a partial-scope trade agreement, excluding products or sectors likely to be affected.

Wednesday, December 5, 2018

From the statement of the Ministry of Foreign Affairs of the Dominican Republic:

Santo Domingo, December 3rd, 2018. The Minister of Foreign Affairs of the Dominican Republic, Miguel Vargas, and the Minister of Economic Development of Curacao, Iván Steven Martina, signed this Monday the negotiation framework of a Partial Scope Agreement, which establishes the basis for creating a mechanism that stimulates trade flows and cooperation between the two countries.

The Dominican Minister of Foreign Affairs explained that, from the signing of this document, a dialogue will begin based on respect for national laws and the application of tariff preferences, which contribute to ease trade and bilateral economic complementarity.

“On the one hand, our industry is able to supply the significant Curaçao market. As well, we can be strategic partners in tourism, positioning our countries as multi-destination in the Caribbean region," said Chancellor Vargas.

He explained that the agreement to be negotiated will exclude any domestic product or sector that may be affected. For this purpose, both parties will establish a preferential area based on the exchange of lists of products and services offered and of interest.

Minister Martina hopes that the agreement will become a reality in the first months of 2019 and anticipated that this pact will generate good results for both parties.

More details on the agreement

This will be the first trade agreement to be signed in ten years, responding to requests from the domestic private sector and both governments to promote bilateral trade.

In the Dominican Republic, the institution in charge of negotiations is the Ministry of Foreign Affairs (Mirex), through the National Commission for Trade Negotiations (CNNC), an inter-institutional body.

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