Trade between DR and EU to reach 4.137 billion euros

The Directorate General of Customs (DGA), and the European Chamber of Commerce of the Dominican Republic, signed a Memorandum of Understanding (MOU), with the objective of developing joint initiatives to promote legal trade between the country and the European Union, through technical assistance, knowledge exchange and training.

Katja Afheldt, Ambassador Extraordinary and Plenipotentiary of the European Union in the DR, explained that the increase in bilateral trade between the EU Commonwealth and the country, in 2022, was 4,137 million euros, which represents 20% more than in 2021.

This figure meant, for the European market, 11.15 % of its total trade. Among the main items that the DR exports are: bananas, avocado, nuts, medical equipment, metal smelters such as ferronickel, cocoa and tobacco, among others.

“From the European Union we recognize the Dominican Republic as a major trading partner and investment destination in the Caribbean region. The cooperation between the European Parliament and the DGA will be an important complement to the information available through the information channels that we offer and the supportRD y la EU provided by the EU for the development of trade ties between Europe and the DR,” said Afheldt.

On his side, Eduardo Sanz Lovatón, director general of Customs, said that “today is a historic day for our institution, since the cultural and historical ties of descent that we have with the European Union are vast and essential for the preservation of our culture and our way of life. Therefore, count on the DGA, the government of Luis Abinader and a country that is increasingly aware that the progress of its people depends on its participation in the world”.

He stressed that this agreement is of the utmost importance for the entity, since “the Customs of the 21st century are not eminently tax collectors, but rather facilitators of trade, business, entrepreneurship and port security”.

“This MOU attacks several of these objectives, as it gives us additional credibility: a trade facilitation channel for Authorized Economic Operators (AEO); exchanges that we must have in training, capacity building, for any eventuality that may arise,” Lovatón ratified.

On the other hand, Fabio Guzmán Saladín, president of the Eurochamber, assured that there is a clear trend of solid and diversified growth of economic and commercial relations between the country and the European Union, for which “we predict that this agreement will bring multiple opportunities to the Dominican nation and to all the member countries of the European Union, to continue developing and facilitating commercial relations”.

More on the agreement

Through the Memorandum of Understanding (MOU), the Eurochamber is committed to support the different foreign trade incentive programs that Customs has, such as: the 24 Hour Dispatch, the Authorized Economic Operator (AEO) certification, Exporta Más, among others, making them known among the business community and the members of the Eurochamber.

Among the topics to be worked on in the agreement are: cooperation in training and publication programs, export incentives between both parties, initiatives for reciprocal trade promotion, and exchange of exhibitors.

The agreement came into force from the date of its signature and will remain in force indefinitely, until either party expresses to the other the will to terminate it.

Present at the signing of the agreement were Daniel Peña, deputy director of Technology of the DGA; Johannes Kelner, deputy director of the DGA; Ángel Encarnación, operative of the DGA; Gabino José Polanco, of the Technical Area of the DGA; Arnulfo Pascual, of Zona Franca; Francis Almonte, administrative of the DGA; as well as Jean Marco Pou Fernández, vice president of the Eurochamber DR; Luis Araque, head of the Commercial Section of the European Union in the Dominican Republic, among others.

Source: presidencia.gov.do

Learn more: ECONOMY

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Dominican Republic Live Editor

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