DR’s growth as a logistics hub will boost trade relations with the United Kingdom

He revealed that trade between the DR and the United Kingdom grew by 83.50%.

The Director General of Customs (DGA), Eduardo Sanz Lovatón, assured members of the British Chamber of Commerce of the Dominican Republic (Britchamrd), that the growth of the country, as a logistics hub, will further increase trade with the United Kingdom, the fastest growing in the last four years.

Participating as chief guest of the “DR Logistics Hub as Potentiator of Trade Alliances” conversation of the British Chamber of Commerce of the Dominican Republic (Britchamrd), Sanz Lovatón revealed that the overall trade exchange of the Dominican Republic with the rest of the world grew by 44.75%, while, with the United Kingdom by 83.50%, almost double, in the period 2018-2022.

It also meant that 24.39% of national imports from the UK were made through trade agreements, a percentage that is set to increase as the two nations strengthen their ties.

“Imports of whisky and fuel have been key factors. Whisky represents 36.98%, and fuels 18.86% of imports from the UK,” detailed the Customs director.

Total imports of alcohol accounted for more than US$1.2 billion, of which more than US$450 million corresponds to whisky, mainly Scotch whisky.

Other important imports from that country were vehicles, with 5.84%, medicines with 3.52% and bottles with 3.48%.

During the presentation “Logistics Hub of the DR as a Potentiator of Commercial Alliances”, the official explained that the air and maritime connectivity that the DR enjoys with Europe and the United States, as well as its port and airport infrastructure, makes it an ideal place for any company from the United Kingdom to install its regional distribution center in the country.

Amauris Vásquez, president of the British Chamber of Commerce Council of the Dominican Republic, affirmed that the commercial relationship between the United Kingdom and the Dominican Republic has created an important generation of exchanges and benefits for US$467.6 million dollars during the year 2022.

He also expressed that the public and private sectors are the main actors in the establishment of the Dominican Republic as a Logistics HUB to continue to take advantage of this situation and capture the largest amount of investment and production contracts, which translates into a significant support for the growth of the country’s economy.

Manuel Cabral, Coordinator of the Regulated Sectors Committee of the BritchamDR, said “Specifically, total imports from the United Kingdom in 2022 amounted to about US$380 million, corresponding to about 38% of imports of alcoholic beverages. The United Kingdom is one of the main exporters of whiskey to the country, totaling in 2022, a contribution of around US$142 million.”

The event was sponsored by DP World, Blue Compass, United Brands, Gulf, United Petroleum, HIT – Haina International Terminals, Diageo, Gulfstream Petroleu, Elías Distribución, Banco Popular Dominicano, Pernod Ricard, Casa Brugal and Mercasid.

Source: Eldinero.com.do

author avatar
Dominican Republic Live Editor

Leave a Reply

Your email address will not be published. Required fields are marked *

seven − 5 =

Verified by MonsterInsights