Do Dominican products enjoy any preferential tax treatment to enter foreign markets?
Many Dominican products can enter freely the US market without having to pay any type of custom duties pursuant to the Caribbean Basin Initiative (CBI). Under the enlargement of the CBI that in the year 2000 introduced the textile parity, a wide range of textile products (until then excluded from the CBI, but benefiting from a partial duty reduction under the US Harmonized Tariff Schedule) may also enter the US free of custom duties, provided they have been made, with some exceptions, out of US materials. Furthermore, under the Lome/Cotonou Convention, ACP countries like the Dominican Republic may export most of their products free of duties to the countries of the European Union.
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