THE DOMINICAN REPUBLIC AND THE WORLD TRADE ORGANIZATION (WTO). The Dominican Republic is guided by the parameters established by the WTO to establish economic and commercial integration at the global level. The Dominican Republic also is a signing party the Declaration of Doha. Adapting the Dominican Republic to the rules established by the WTO has entailed significant modifications to all areas of the Dominican economy.
THE DOMINICAN REPUBLIC AND TAIWAN. The Dominican Republic and Taiwan signed a letter of intent for a Free Trade Agreement to promote commerce and investment between both nations.
AGREEMENT FOR ECONOMIC ASSOCIATION BETWEEN THE COUNTRIES OF THE CARIFORUM AND THE EU- ROPEAN UNION AND ITS MEMBER STATES. The spirit of this agreement, recently ratified by the Dominican National Congress, is to enforce commercial relationships and promote regional integration and cooperation within an effective framework for commerce and investment between the parties.
FINANCING SOURCES The Dominican Republic benefits from several international financing programs and insurance against politi- cal and exchange risks. It is a member of the World Bank group and its different institutions, such as the Mul- tilateral Investment Guarantee Agency (MIGA), an agency that promotes the flow of capital toward member countries that are in the development stage and that insures against political risk. Likewise, the Overseas Pri- vate Investments Corporation (OPIC) is active in the Dominican Republic with programs for financing and in- suring investments against risks. The European Investment Bank offers long term loans with low interest for the financing of projects within ACP countries, mainly in industrial, tourist, mining and energy, transportation, and telecommunications sectors.
BILATERAL AGREEMENTS FOR THE PROMOTION AND PROTECTION OF INVESTMENTS The Dominican government has accelerated the process of negotiation of bilateral promotion and protection agreements for investment with different nations in the matters of direct foreign investment (IED) based on reciprocity. These negotiations are designed for the legal promotion and protection of investment and the Dominican’s economic development. Among the agreements of this type are those signed with Spain, Ecuador, France, China, Argentina, CARICOM, and Central America. Others are in the process of negotiation.