Commercial opportunities South America and the Dominican Republic

The growth of exports in 2021 has generated great expectations for the year 2022. According to figures from the International Monetary Fund in its analysis of growing economies, the Dominican Republic will grow approximately 6.5%, which will be a guarantee of the broad economic growth that will boost the economy for this period.

However, the administration of the President of the Dominican Republic, Luis Abinader Corona, must face great challenges ahead in 2022, such as strengthening trade links with South America and Asia, all this due to the great human and natural resources that prevail in both parts, in order to understand the emphasis on these regions we must analyze the great benefits they can bring to the Dominican market in all areas.

Starting with MERCOSUR, which only concentrates an area of 14,869,776 Km2, in addition to enjoying a population density of 295,007,000, being this figure 22.9 inhabitants/km2, so that at the level of opportunities represents a great value in economic terms, trade, exchange of goods and services.

Argentina, Brazil, Uruguay, Paraguay and Bolivia enjoy great potential in various areas of production and trade, these areas are highlighted by the production of meat, wine, dairy products, soybeans, fuels, and also the great opportunity represented by the automotive sector, which could be a guarantee of good exchange with the Dominican Republic, but these areas do not have a significant flow in terms of trade balance, Since there is no trade agreement or tariff elimination among the MERCOSUR nations, the possibilities of exchange are always encouraged through the most favored nation principle, which does not sit well with the producers or traders of both countries, affecting them the imposition of a 30% for the importation or exportation of their products.

Not only in commercial terms the Caribbean nation does not enjoy direct trade agreements with the countries already mentioned, but also that it will have to have as a challenge to capture the member countries of UNASUR, which also play an important role in commercial and economic terms, although tourism is served by this important market where this area grew in 2018 by 11. 4% , although they still estimate the large tour operators in the region that should further enhance the offer of the Dominican Republic through fairs, stands and cultural activities that promote the attractiveness of our country, this should be channeled through the tourism links and diplomatic headquarters, given that Tourism Diplomacy has been correctly applied by the current management, but should play an important role in this new challenge of 2022 seriously targeting these markets.

In conclusion, the slogan of our country, which refers to the terms “Dominican Republic has it all”, should be a preponderant and important factor to go towards a sustainable and potential growth in numerical terms, We urge President Abinader and the heads of the Ministry of Foreign Affairs and Tourism to target these markets, which could be fundamental for the growth of the homeland of Duarte, Sanchez and Mella.

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