DR and Mexican businessmen create agenda to promote foreign trade and binational business

Executives of Mexican business organizations and the Asociación de Bancos Múltiples de la República Dominicana (ABA) favored exploring possibilities for promoting foreign trade and business in general between the two nations, during a meeting held by representatives of these organizations.

Accompanied by the Mexican ambassador to the Dominican Republic, Carlos Peñafiel Soto, delegates from the Dominican Republic-Mexico Binational Chamber of Business and Services (CABIMEX-DR), the Dominican-Mexican Chamber of Commerce and Investment (CADOMEX) and the Network of Foreign Trade Promoters (RED PROCEX) visited the ABA headquarters, where they were received by the association’s executives, headed by its president, Rosanna Ruiz.

During the meeting, Ruiz spoke about the strength of the banking system operating in the Dominican Republic, characterized by favorable indicators of liquidity, solvency, equity and low delinquency, achieved thanks to proper management and supervision by the authorities, together with the application of timely monetary and financial policies.

Likewise, the president of the ABA highlighted the support of the banking sector to households and productive sectors of the country, especially to micro, small and medium-sized enterprises, constituting an important support for the recovery after the pandemic. In that order, he specified that the credit to the private sector in local currency has maintained a growth of more than two digits.

Regarding Dominican-Mexican relations, Ruiz said that conditions are propitious for the establishment of alliances between business sectors of both nations, including multiple banking, in order to benefit common development, informed the ABA in a press release.

Ambassador Carlos Peñafiel Soto said that with the support of Dominican banks and other local business sectors, it is possible for Mexico to become the second country in terms of investments in the Dominican Republic.

“It is incredible how, being so close, we know so little about each other,” exclaimed Julio Rodríguez Trigueros, executive director of CABIMEX-RD, during the meeting. He argued that the country can become the entry point for Mexico in the Caribbean, in view of all the business possibilities that can be explored.

The delegation of Mexican businessmen also included Miguel Ruiz, executive vice-president of Red Procex; Mauricio Barrientos, logistics and supply chain advisor; Luis Jorge Becerra, manager of Red Procex; Marco Antonio Sánchez, director of CADOMEX and Rafael Toribio, founder of CABIMEX. They were accompanied by Agustín Rodríguez de la Gala and Raquel García, Mexican diplomats accredited in the country.

Manuel González and Julio Lozano, Technical and Economic Studies Directors, as well as Víctor Morillo and Lourdes Ovando, members of the Foreign Trade Committee, participated in the meeting as part of the ABA representation.

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