ProDominicana strengthens trade relations with the Caribbean

In order to continue promoting sustainable and attractive development with Caribbean countries to expand business opportunities, the Export and Investment Center of the Dominican Republic (ProDominicana), continues to strengthen ties of support to increase trade with countries in the region.

In this regard, the executive director of ProDominicana, Biviana Riveiro Disla, said that, from various state entities, including ProDominicana, various efforts have been extended to increase the commercial participation of the Dominican Republic and other Caribbean countries as has been the case of Guyana.

“We are deploying concrete actions to increase business with the countries of the Caribbean region and improve the conditions of access of Dominican products to this region, enabling different instruments,” he said.

Riveiro indicated that the Dominican Republic continues to manage the improvement of connectivity to accelerate the flow of trade in terms of transportation, to support accelerated progress towards the Sustainable Development Goals of the Caribbean region.

It highlights that trade exchange between the Dominican Republic and the Caribbean between 2020 and 2022 rose from USD 1,979 to USD 2,562.1, totaling USD 6,783.6 million at the close of 2022. In addition, export growth in 2022 was 14.1% in relation to 2021, thanks to the inter-institutional efforts indicated with policy measures in the National Plan to Promote Exports 2020-2030, launched by President Luis Abinader.

It is worth noting that the Dominican Republic has exported to more than 20 Caribbean markets in the last three years, with a total amount exported between 2020-2022 of USD 5,523.3 million.

As for the products exported to this region are: cotton fabrics USD 141.72 million, instruments and medical devices USD 132.69, iron bars USD 119, T-shirts and T-shirts USD 97.9 million and circuit breakers USD 84.9 million. Likewise, products such as processed foods and various beverages, among others, have been expanding their presence in these markets.

As part of the government’s efforts, ProDominicana has participated in several forums in different Caribbean countries such as the Caribbean Investment Forum organized by Caribbean Export in collaboration with the European Union, the Government of the Bahamas, and the Caribbean Community Secretariat (CARICOM), which sought to boost regional promotion for trade and the attraction of foreign investment. ProDominicana’s Investment Manager, Zanony Severino, represented the entity at the event.

The country also participated in the Africa Caribbean Trade Investment Forum 2023 (ACTIF) held in Guyana, with the slogan “Creating a shared prosperous future”, to arouse interest in increasing trade and investment between Caribbean and African countries. The event was attended by ProDominicana’s Investment Executive, José Cedeño.

Source: presidencia.gov.do

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