Local trade groups look to DR for growth during November commercial mission
A delegation of representatives from five of the island’s biggest trade groups is headed to the Dominican Republic in November looking to boost exports through agreements with their counterparts in the neighboring island nation, the Dominican-Puerto Rican and Caribbean Entrepreneurial Alliance announced Tuesday.
“We will carry out this mission in the cities of Santo Domingo and Santiago after a matching process with companies showing high potential to enter into joint ventures, pre-trip calls to share information and pre-arranged appointments,” Aliance President Luis Torres Llompart said.
Torres-Llompart said those wanting in making the trip have until Sept. 26 to convey their interest to any of the participating trade groups: the Puerto Rico Manufacturing Association, the Puerto Rico Chamber of Commerce, the Puerto Rico Products Association, the United Retailers Association and the School of Engineers and Land Surveyors.
Established in June, the Dominican-Puerto Rican and Caribbean Entrepreneurial Alliance aims to promote the export of local products and services to the Caribbean and the rest of Latin America and increase the procurement by the federal government.
The trip is a joint effort with PromoExport and Dominican Republic trade groups including the American Chamber of Commerce, the Santo Domingo Chamber of Commerce and Production, the Puerto Rico Chamber of Commerce in the Dominican Republic, the National Private Sector Council and the Santiago Chamber of Commerce and Production.
All of the trade groups have the backing of their respective governments to do business. In June, Gov. Luis Fortuño said his administration’s role is to facilitate joint investment and ensure the proper institutional and regulatory framework that spurs and sustains the full development of a collaborative agreement with Dominican Republic government leaders.
Both governments are eliminating long-standing barriers such as tariffs, licensing, merchandise and goods transportation and service delivery.
In 2009, Puerto Rico exported some $758 million to the Dominican Republic, while it imported $448 million from the Caribbean neighbors.
“The Caribbean business sector is eager to identify opportunities with us, which may represent a great opportunity for local companies with strong track records to explore expansion alternatives,” Torres Llompart said.