Themistocles said Haiti occupies top place for Dominican products

Agent-x - June 7 2012, 5:11 AM

This article was translated from Spanish into English by Google automated translator.

According to the online news dominicanoahora-com on Wed 06 June 2012, The Minister of Economy, Planning and Development Temistocles Montas, said Tuesday that, in recent years, trade with Haiti has become critical, about to the neighboring country that currently occupies a top place as a destination for Dominican products.

Similarly, the official said, textile exports to the Dominican free zones, production shared with Haiti has been instrumental in containing the effects of the relentless competition from low-wage Asian countries.

Montas said that the intense relations with Haiti, the Dominican Republic are not limited to trade, because migration flows have increased significantly, which impacts significantly on both nations.

"The Dominican Republic has become a source of remittances to the neighboring country not insignificant, equally, the intensification of migration flows has very significantly expanded the availability of unskilled labor in the Dominican territory, thereby reducing domestic production costs, "said the official.

Montas made the statements in a ceremony in which presented a study by the World Bank, at the request of the Ministry of Economy, Planning and Development of the Dominican Republic, in which the international credit agency suggested several measures to improve the prospects socio-economic development on both sides of the Dominican-Haitian border.

The study, of 38 pages, was presented by Dr. Maurizio Bussolo, World Bank lead economist and considered a deal with the economic development of the two nations that share the island of Santo Domingo.

Bussolo stressed that trade, the World Bank study recommended all initiatives complement binational trade integration with multilateral liberalization in order to optimize improvements in terms of welfare for both countries.

As to promote bilateral trade and investment, the analysis should relax the rules of origin in preferential trade programs exist.

Similarly, the World Bank report notes that the initiatives of the Dominican Republic to help Haiti after the remote with January 2010, as an opportunity to improve relations between the two nations.

However, provided that the potential benefits of reconstruction in Haiti fully materialize only if investments are well managed and run efficiently, which is required for an increase in absorptive capacity and economic management and appropriate policy.

"The share of exports destined for the Dominican Republic to Haiti increased from 3% of the total at the beginning of the decade to about 15% in 2009 and in this way, Haiti became the second largest trading partner after the United States "specifies the study.

In its report, entitled "Haiti and the Dominican Republic.

More than the sum of its parts ", the World Bank believes that the reconstruction process should be taken as an opportunity to strengthen the bilateral relationship, addressing several bottlenecks such as logistics and transport across borders.

The presentation ceremony of the study, carried out in the Green Room of the National Palace, attended by a representative of the Haitian government.

Also figures from international organizations and nongovernmental entities.

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