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TRADE AND INVESTMENT OF DOMINICA
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The specific objectives of Dominican trade policy are to make the economy more efficient and competitive, reduce protection and any aspect of the tariff structure that is unfavourable to exports, and at the same time foster regional economic cooperation. Foreign trade policy-making and trade negotiations are the responsibility of the Commission for National Trade Negotiations, chaired by the Ministry of Foreign Affairs, while the Ministry of Industry and Trade has prime responsibility for administering trade agreements. The Dominican Republic is a founding Member of the WTO, and is participating actively in the Doha Development Round negotiations, from which it expects to obtain practical benefits, particularly in the agriculture and industrial sectors, and on trade facilitation and trade rules. It has submitted numerous notifications to the WTO, although others were delayed as of mid-2008. The Dominican Republic has participated in only a few trade disputes in the WTO – as a defendant in three cases and as a third party in three others. 4.The Dominican foreign investment regime allows foreign nationals to invest in the vast majority of economic sectors. Exceptions include activities affecting public health and the environment, and those in which there are laws and regulations governing particular sectors. There are limits on the foreign private investment share in air transport and broadcasting; and foreign governments are not allowed to invest in mining, or in oil drilling and prospecting. The Dominican Republic has signed various mutual investment promotion and protection agreements, as well as a double taxation agreement and another on the exchange of tax information. 5. The Dominican Republic is a representative democracy, governed by three powers of State: executive, legislature and judiciary. The country is divided into of 31 states and a national district. The head of the executive branch is the President of the Republic who, along with the Vice-President, is elected by direct suffrage every four years, with the possibility of re-election for a consecutive term. The most recent presidential election took place in May 2008. The President is Head of State and Government, and is assisted by ministers designated by him. Each of the 31 provinces has a governor appointed by the President
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