Dominican Republic, Puerto Rico leaders discuss strategic alliance
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President Leonel Fernandez
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SANTO DOMINGO, Dominican Republic – Discussions focussing on a strategic alliance between Dominican Republic and Puerto Rico are ongoing as both countries are attempting to work closely in areas of trade, investment, energy and ethanol production.
According to Dominica Republic Sun, President Leonel Fernandez and Puerto Rico’s newly appointed Governor Luis Fortuño resumed consultation to come to some agreement for partnership between both countries. President Fernandez reportedly stated, “It’s a project that was originally born in 1986 and has been updated every once in a while, of which we’ve said that we must update it once again and include diverse topics having to do with trade, investments and the energy topic. We are raising the possibility of ethanol production in the Dominican Republic.”
The report states that Fernandez recommended that through his country’s Free Trade Agreement with the United States and Central America (DR-CAFTA), tariff payments to Puerto Rican markets be established to contribute to “being less dependent on fossil fuels and also have a type of fuel that’s friendlier to the environment”.
It was agreed upon by both leaders that they should partner to buy natural gas from Middle Eastern countries and to establish Puerto Rico’s “vast regional platform” to refine and distribute fuel. Fernandez also noted that it is possible for Puerto Rico to attract investment for wind energy and added that the plants must be manufactured on island although they may have the final assembly elsewhere.
The reports states that a meeting of a mixed bilateral commission has been scheduled for January 31, to “follow up on the agreements”. ~~Adz:Right~~
Dominican Republic News