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American Chamber of Commerce celebrates the Maritime Law enactment

Santo Domingo, January 23.- The American Chamber of Commerce (AMCHAMDR) applauds the promulgation of Law 5-23 of Maritime Commerce, considering it a piece of great importance for trade facilitation, investment attraction and climate strengthening business in the country.

For the chamber, the approval of this piece constitutes an important step towards the facilitation of maritime trade, in terms of reducing costs and times for transnational trade; showing an advance in the regulations in force in this matter that dated from the 19th century.

With this new, more robust and updated legislation, the country will be able to regulate the use of electronic documents in order to reduce time and procedures in international trade.

In addition, it will complement the General Customs Law, improving the legal framework applicable to the transnational transport of merchandise and will enable the Dominican Republic to continue advancing in the goal of consolidating itself as a world-class regional logistics hub, by mandate of Law 1-12.

The initiative will allow the creation of better maritime trade conditions in the country, giving the Dominican Republic the opportunity to take full advantage of the advantages of geographical position and connectivity, aiming at the growth of this sector and the attraction of foreign and foreign investment.

The American Chamber of Commerce has worked on the promulgation of this Law for nearly 20 years through its Legal Committee, headed by the president of the Foreign Trade Commission, Mr. Ángel Ramos Brusiloff.

About the American Chamber of Commerce of the Dominican Republic (AMCHAMDR)

The American Chamber of Commerce of the Dominican Republic (AMCHAMDR for its acronym in English) is a non-profit association, legally incorporated on November 8, 1923, which promotes a healthy investment climate based on access to knowledge, opportunities and a culture of best practices for the socioeconomic and professional development of its partners.

AMCHAMDR is affiliated with the U.S. Chamber of Commerce and is a founding member of the Association of American Chambers of Commerce in Latin America (AACCLA).

The entity works an agenda designed to connect and represent its partners of new trends in the world of business, markets and indicators both nationally and internationally. Its service catalog is designed to add value to its members, offering concrete solutions and identifying business and professional growth opportunities.

Also read – American Chamber of Commerce calls for diplomatic dialogue

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