Trade agreements between the Dominican Republic and Canada
Currently there is no free trade agreement between the Dominican Republic and Canada; however, a large variety of Dominican agricultural products can enter the Canadian market free of tariffs or with very low ones, since the country is a beneficiary of the General Preferential Tariff (GPT) System of Canada, which offers preferential tariffs to more than 6,700 products.
The agreements that have been signed between the two nations are the following:
- Memorandum of Understanding between the Dominican Republic and Canada Concerning Bilateral Consultations on International Affairs, Trade and Investment.
- Memorandum of Understanding between the Dominican Republic and Canada on Agricultural Agrrement (Schedule XXIII annexed to the Marrakesh Protocol): the Dominican Republic amends its Agricultural Agreement (Schedule XXIII annexed to the Marrakesh Protocol) by means of this treaty to include a tariff quota. The tariff quota established by this agreement shall be distributed among suppliers in accordance with the provisions of Article XIII of the General Agreement on Tariffs and Trade (GATT 94).
- Memorandum of Understanding between the Dominican Republic and Canada Concerning Certain Textiles Products from the Dominican Republic to be Imported to Canada.
- Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Income and Estate Taxes: This Convention shall apply to persons who are residents of one or both of the Contracting States. This Agreement shall apply to taxes on income and on capital established by each Contracting State, irrespective of the form of collection.
- Tariff Negotiations between the Dominican Republic and Canada: this agreement approves the negotiations carried out in Geneva between the two parties, establishing a list of products subject to tariff concessions.
- Trade Agreement between Canada and the Dominican Republic: through this agreement, Canada and the Dominican Republic grant each other unconditional and unrestricted treatment of most favored nation in all matters relating to customs duties and subsidiary offices of all kinds, and in the manner of claiming rights, as well as all regulations, formalities and charges that are established in connection with the release of goods from customs, and with respect to all laws and regulations affecting the sale or use of imported goods within the country.