Trade Policy Review of the Dominican Republic
November 24-26, 2008Statement by the Republic of Korea
Thank you, Mr. Chairman.
I would like to extend a warm welcome to the delegation of the Dominican Republic for their third trade policy review, and to especially thank ____________ for his informative presentation. Let me also express my appreciations to Mr. Yi-fu LIN for his valuable contribution as the discussant, and to the Secretariat for its usual comprehensive report.
Since its last Trade Policy Review, the Dominican Republic has bounced back from economic hardships. During the financial crisis, the government was quick to respond with the necessary fiscal and monetary policies to stabilize the economy. Rapid recovery ensued: average GDP growth rates neared 6 percent, per capita income grew steadily, and FDI increased to an all-time high of 1.7 billion dollars.
Taking this opportunity, Korea would like to commend the Dominican Republic for remaining open to the multilateral trading system at times of domestic crisis instead of falling back on protectionism, a ‘temptation’ that history tells us has dire consequences.
Since 2002, the Dominican Republic has increased exports and imports and worked to diversify its trade, evincing the government’s progress in liberalizing its trade regime.
The average applied MFN tariff rate has decreased, while import surcharges have been eliminated. The General Law on Competition is expected to enter into force next year, paving the way for greater efficiency in the market.
Korea is proud to be a partner of such progress in the Dominican Republic. The two countries signed an agreement for the Dominican Republic to receive loans from the Economic Development Cooperation Fund (EDCF) of Korea to finance the computerization of customs procedures. Upon its completion in 2009, the customs administration of the Dominican Republic will become even more transparent, efficient, and predictable than before.
These efforts have been supplemented by the introduction of new legislation to stream- line customs procedures, to regulate government procurement, and to improve the protection and enforcement of intellectual property rights. It is clear the Dominican Republic is presently paving the road for further future success and it will be the pleasure of the entire WTO body to witness such success in the future.
On this note, my delegation would like to raise one issue for further contemplation by our colleagues from the Dominican Republic.
Although it is stated in the Secretariat report that the new legal framework on government procurement does not discriminate according to nationality, we note that foreigners are subject to a local partnership requirement for public work contracts. My delegation is of the view that this requirement in itself might act to deter foreign participation in public work contracts, and thus the removal of this requirement would ensure a true non- discriminatory environment. My delegation would appreciate hearing the views of the Dominican Republic on this issue on Wednesday.
Mr. Chairman,
Prior to the two week deadline, my delegation had submitted a couple of advanced written questions to the Dominican Republic. [ We note that the written answers were provided this morning, and we would like to extend our appreciations for the prompt response. My delegation will review the answers, and provide supplementary question on Wednesday if necessary. ]
Mr. Chairman,
The Dominican Republic, as a founding member of the WTO, is an active participant in the Doha Round, and an essential part of the multilateral trading system. In particular, my delegation would like to highlight our pro-active cooperation in the Agriculture negotiations as members of the G-33.
Korea looks forward to continued cooperation and stronger ties in the future.
Thank you, Mr. Chairman.
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