Commerce

 

The Centre for Export and Investment of the Dominican Republic (CEI-RD) is the Government department created with the purpose of promoting the favourable investment climate of the Dominican Republic as well as promoting the vast resources available for international trade.

The CEI-RD acts as a facilitator to engage in commercial activities in the areas of Trade and Investment, optimising and diversifying the offer of product and services to secure access to the international markets in a competitive manner.

Centre for Export & Investment of the Dominican Republic

   

TRADE
The Dominican Republic’s strategic location in the Caribbean offers a great advantage to USA and European markets. The main trading partner is the USA. Under the Caribbean Trade Initiative agreement, the Dominican Republic is the fourth largest partner of the USA within Latin America and the Caribbean, behind Mexico, Brazil and Venezuela.
In 2001, the Dominican Republic achieved total exports of US$6.9 billion and imports amounted to US$7.5 (source ECLAC – Economic Commission for Latin America and the Caribbean).
The country is still under a duty-free access to USA markets for approximately 3,000 manufactured and semi-manufactured goods under the Generalised System of Preferences, which benefits developing countries. Dominican exports also have duty-free entry to the 450 million affluent consumer market in the European Union (EU), and under the Lomé IV Accord (now Cotonou).The country is implementing free trade agreements signed with the English-speaking Caribbean (Caricom) and Central America.

  UK-DR Trade Relations

Bilateral trade during 1999-2004 = US$360 million
UK Exports totaled US$130 million
DR Exports totaled US$230 million

DR Exports in 1999 totaled US$29.7
DR Exports in 2004 totaled US$43.5
DR Export Growth = 46.5%

 

 

 

EXPORTS
Principal exports
In 2000, the majority of exported items were clothing and other goods manufactured in the duty free industrial zones. Other major exports were cigars, ferronickel, sugar, coffee, cocoa, tobacco, fertilizers, beer, fresh (bananas) and processed fruits and vegetables, flowers and tropical plants.

Principal imports
Food produce, petroleum and derivative products, industrial and agricultural raw materials, capital goods, vehicles, wood and pharmaceuticals.

ORGANIC EXPORTS
Main organic products from the Dominican Republic:

Fruits:
Bananas
Cocoa and its derivates (raw, butter, powder, liqueur, etc.)
Mangoes (Puree)
Persian Lemon
Melon
Pineapples
Oranges
Coconut
Sugar Cane (Sugar syrup and Molasses)

Grains:
Coffee (green, roasted and processed)

Vegetables:
Broccoli
Cauliflower
Cabbage Lettuce
Pepper

Cosmetics:
Niem-tree based products

Others:
Ginger
Cassava bread
Honeybee
Aloe Vera

INVESTMENT

Why invest in the Dominican Republic?
1 - Strategic geographical location
2 - Economic and political stability
3 - Profitable legal framework for foreign investment
4 - Preferential access to the United States, Europe, Central America and the    Caribbean
5 - Competitive and qualified labour force
6 - Modern transportation infrastructure (airports, ports, highways)
7 - Most advanced telecommunications infrastructure in the Caribbean
8 - Support services (bank, airlines, maritime services, universities, real      estate)
9 - Competitive operation cost for doing business
10 - Good quality of life

FOREING INVESTMENT SECTOR
1996 – 2004 / TOTAL: US$6,918.5 Million

INVESTMENT FROM UK

Total Investment Registered: US$203.2 Million

Main Sectors
Commercial Energy
Free Zones
Tourism
Chemical Products
  Pharmaceutical
Sewing Thread Products
Plastics

 Investment Incentives
1 - Equal Treatment for local and foreign investments
2 - Minimum investment restrictions
3 - Free access to foreign exchange through local banks and the Central Bank     of the Dominican Republic
4 - 100% repatriation of benefits
5 - Technology transfer recognized as investment
6 - Investment Protection through the Multilateral Investment Guarantee      Agency (MIGA) and the Overseas Private Investment Corporation (OPIC)
     Founding Member of the World Trade Organization (WTO)

Geographical advantages of the Dominican Republic
More maritime and flight connections than any other Caribbean location
Competitive transportation costs
United States as main trade partner; 4th trade partner for USA in Latin America and Caribbean (2004)

Transport
11 seaports with distribution to Atlantic Ocean and Caribbean Sea, including Caucedo mega port (whose maritime terminal and logistics centre operates under the Free Zone Regime)
Excellent highway system connecting all major provinces
8 International Airports: 2 in Santo Domingo, also in Santiago, Samaná, La Romana, Puerto Plata, Punta Cana, Barahona
More than 20 daily flights to and from the U.S. and Europe

Investment opportunities in Tourism
The Dominican Republic is the No. 1 tourist destination in the Caribbean
Tourism sector represents more than 20% of the GDP in Dominican Republic
70% of the total rooms offered at the tourism sector have been constructed and operated by foreign hotel chains
DR currently offers than 3,000 rooms are under construction at new hotel projects
During 1995-2000, the total hotel room offer in the Caribbean grew an annual rate of 4.1%; the DR grew 7.9 %

Investment opportunities in Free Zones
There are currently:
58 Industrial parks in operation
582 Companies installed (as of April 2005)
Over 185,000 direct jobs
Exports: US$4.4 Billion
Occupied area: 2.1 Million of sq. mts

Cyber Park of Santo Domingo: a technological Free Zone
5 minutes from Las Americas International Airport
Uninterrupted Energy service
Water Supply System
Redundant Fiber Optic Ring
ISDN Central
Internet 2MB Stream
Fiber Optic Connectivity and Linkups

USEFUL ADDRESSES IN THE DOMINICAN REPUBLIC

CEI-RD (Centre for Export & Investment of the Dominican Republic)
Ave. 27 de Febrero, Esq. Luperon
Santo Domingo
Tel. 001 809 530 5505
Fax 001 809 530 8208
Website: www.cei-rd.gov.do

Secretaría de Estado de Agricultura (Agriculture Department)
Autopista Duarte, Km. 6½, Jardines del Norte
Santo Domingo
Tel.: 001 809 547-3888
Fax: 001 809 227-1268
www.agricultura.gov.do

Secretaría de Estado de Industria y Comercio (Department for Industry and Commerce)
Edificio de Oficinas Gubernamentales Juan Pablo Duarte, 7mo. piso
Santo Domingo
Tel.: 001 809 685-5171
Fax: 001 809 686-1973
www.seic.gov.do

Secretaría de Estado de Medio Ambiente y Recursos Naturales (Department for the Environment and Natural Resources)
Presidente González esq. Tiradentes, Edificio La Cumbre, piso 10
Santo Domingo
Tel.: 001809 567-4300
Fax: 001 809 540-2667
www.ceiba.gov.do

Adoexpo (Dominican Association for the Exporter)
Director de Comercio Exterior

Avda. Winston Churchill 5
Santo Domingo
Tel. 001 809 5326779
Fax 001 809 5321926 
Email: adoexpo1@codetel.net.do
Web: http://www.adoexpo.com

British Embassy in the Dominican Republic
Edificio Corominas Pepin, Ave 27 de Febrero No. 233
Santo Domingo
Tel: 001 809 472 7111
Fax: 001 809 472 7574
E-mail: brit.emb.sadom@verizon.net.do

British-Dominican Chamber of Commerce
Edificio Santanita No.1
Avenida San Martin 253, Suite 203, Santo Domingo
Tel: 001 809 616 2335
Fax: 001 809 616 2336
E-mail: britcham@tricom.net

Download the following Pdf's for more information:

Doing Business in the Dominican Republic.pdf (1.5 MB)

DR Export Companies Directory.pdf (1.1MB)

Organic Producers Certifiers Companies.pdf (45k)

All information displayed is the copywirght © of the
Dominican Republic Embassy UK 2005