Joint strategies for growth include helping the Dominican Republic tap a $500 billion market for U.S. government purchases under the Buy America Act of 1933, which gives preferential treatment to products made on U.S. soil by having parts of products made in the Dominican Republic and then finished in Puerto Rico, Bacó said. COMMONWEALTH OFFICIALS ARE LOBBYING WASHINGTON, D.C., TO INCLUDE SUCH EXCEPTIONS UNDER THE BUY AMERICA ACT, another DDEC official said. HOWEVER, CONSIDER THIS>The foreign and intergovernmental relations of Puerto Rico are governed by the Commerce and Territorial Clause of the Constitution of the United States and, consequently, subject to the plenary powers of the United States Congress. Regardless, Puerto Rico has established several trade agreements with other nations, particularly with Hispanic American countries such as Colombia and Panamá. Such agreements require permission from the U.S. Department of State or the U.S. Congress itself—most, however, are simply allowed by existent laws or trade agreements between the United States and other nations which supersede the trade agreement pursued by Puerto Rico. en.wikipedia.org/…/Foreign_and_intergovernmental_rel…
Posted on: Wed, 14 Jan 2015 15:37:55 +0000
Trending Topics
Recently Viewed Topics
© 2015