The Ministry of Foreign Affairs informed that the country achieved a rebound in exports to Jamaica during the year 2021, which experienced a significant increase, from USD 74 million to USD 121.80 million, equivalent to a growth of 39%.
According to a report made by the Dominican Embassy in Jamaica, the trade balance between that country and the Dominican Republic remained at moderate growth levels during the last five years, suffering a reduction of the exchange in 2020 as a consequence of the pandemic. By 2021, a vigorous recovery was generated, being the year with the highest surplus result in favor of the Dominican Republic.
The report, which gathers data from different public institutions such as the Central Bank of the Dominican Republic and the private sector of both nations, details that the main national products exported to Jamaica were mineral fuels, mineral oils and products of their distillation, generating income for a value of USD 36.54 million; other items were cement, steel, plastic and its manufactures, paper and cardboard products, edible sauces, vegetable and fruit preparations, among others.
“These data show how successful has been the new vision of the Foreign Policy of Change, implemented under the direction of Foreign Minister Roberto Alvarez, which from the beginning raised among its priorities the relaunching of relations with the Caribbean, especially with countries like Jamaica, with whom we have a strong trade relationship, with great potential to increase in very positive and advantageous conditions for the Dominican Republic,” said Angie Martinez, ambassador to the Caribbean country.
The diplomat affirmed that “these results are the result of an intense and exhaustive work agenda developed by the Dominican Embassy based in Kingston, which has managed to boost bilateral relations to unprecedented levels, being the commercial and investment exchange the main protagonist”.
Ambassador Angie Martinez added that the success of these efforts is due to the joint work with key institutions of the Dominican Republic, such as the Ministry of Foreign Affairs and its Vice Ministry for Economic Affairs and International Cooperation, the Ministry of Industry, Commerce and Mipymes, ProDominicana, the Directorate General of Customs and the Dominican Association of Exporters, among others.
The efforts made respond to the strategic guidelines of Dominican foreign policy, which seek to promote exports, foreign trade and the attraction of foreign direct investment to generate employment, as well as to rebuild ties with the Caribbean community.
On December 4, both nations celebrate the 58th anniversary of the establishment of their diplomatic relations at a time of common achievements, with Jamaica being the Dominican Republic’s second largest trading partner in the Caribbean and the seventh largest globally.
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