DR-CAFTA Agreement Moves Closer

Dominican Republic could implement the DR-CAFTA free trade agreement with the US as early as the end of November, according to lawmakers who passed first-reading approval to the Bill in the Senate Tuesday night. The Bill must pass second-reading approval by the Senate before two rounds of approval by the Chamber of Deputies. The implementation of the agreement will include changes to the law with regard to industrial property, intellectual property and the Penal Code. A research note from investment bank Bear Stearns, said that the Bank would view the country’s accession to DR-CAFTA before the end of 2006 as a “positive development for the credit.”