Foreign Investment in the Dominican Republic is regulated by Law No. 16-95, which provides foreign and national investors equal legal status, as well as allows full repatriation of capital and profits. Also, the Dominican Republic is a member of the World Trade Organization (WTO) and is a signatory to the Cotonou Convention (former Lomé IV Convention). The Dominican Republic is also as a founding member of GATT. As a beneficiary of the Caribbean Basin Initiative (CBI), it is allowed duty free imports into the U.S. for most manufactured goods and preferential access levels for assembled textile products (G.A.L program). The United States Congress approved textile parity, which grants the country an important economic advantage. The Dominican Republic has also expanded its markets by negotiating Free Trade Agreements with Central American and CARICOM countries. Recently, the U.S. Congress passed the Central American Free Trade Association (CAFTA) treaty that will further liberalize trade between the Dominican Republic and the United States. The Dominican Republic has historically encouraged foreign investment by creating Free Trade Zones, preferred tax benefits and infrastructure development. The Cyber Park of Santo Domingo is a significant example of the Government’s support to provide firms with the necessary platform to establish near shore operations in the state.