United Kingdom strengthens trade ties with the DR

The United Kingdom reaffirmed its desire to continue strengthening trade relations with the Dominican Republic, and cited as an example the growing export of national products to the British market.

The weighting is made in an informative note issued by the British diplomatic mission, on the occasion of the recent visit to the country of Baroness Gloria Hooper, special envoy for Trade of the Prime Minister of the United Kingdom.

It specifies that these products include fruits and cocoa derivatives, among others.

“In fact, the UK has designed the UK Trade Agreements Program (UKTP) with the objective of boosting the competitiveness of Dominican specialty food exports to the British market,” the information adds.

The UK indicates that the relationship between the two countries is based on promotion and collaboration, with the Dominican Republic being one of the UK’s main trading partners in the region.

It adds that in 2021, the commercial exchange between both countries was USD 340 million, being Scotch Whisky the main product exported by the United Kingdom.

He further notes that USD 38.3 million of the dollars captured by the Dominican Republic in foreign direct investment in 2021 came from the UK.

“Baroness Gloria Hooper’s visit, as much as the Memorandum of Understanding signed in April 2017 between the British Embassy in the country and the Ministry of Finance, which makes available up to US$3 billion to finance the procurement of goods and services of British origin in the Dominican Republic, are clear demonstrations of how ties between the two nations continue to strengthen,” the note says.

During her visit, Baroness Hooper met with important representatives of the public and private sector in the country, including an audience with Foreign Minister Roberto Alvarez and the Vice Minister of Bilateral Relations of the Ministry of Foreign Affairs, Jose Julio Gomez, as well as a meeting with the Minister of Industry, Commerce and MSMEs, Victor Orlando Bisonó Haza.

He also held meetings with the British Chamber of Commerce to discuss the common interest of further strengthening trade between the United Kingdom and the Dominican Republic.

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