Santo Domingo.- The Ministry of Industry, Commerce and MSMEs (MICM) of the Dominican Republic and the European Chamber of Commerce signed a Memorandum of Understanding, a significant step to improve investment, knowledge exchange and commercial links between the Dominican Republic and the private sector of the European Union.
The agreement, signed by the president of the MICM, Víctor Bisonó, and the president of the European Parliament, Jean Marco Pou, aims to strengthen bilateral economic relations.
Bisonó emphasized the strategic importance of the European market for Dominican products, citing the trade exchange of $4.8 billion in 2022, with Dominican exports for $1.1 billion and imports for $3.7 billion.
The Dominican Republic, identified by Bisonó as the main destination in the Caribbean for European foreign direct investment, stands out for its political and economic stability, its dynamism and its international presence.
This agreement represents an opportunity to identify and overcome trade barriers, thus streamlining exchange processes.
Pou highlighted the fundamental nature of this alliance, underscoring the strong and growing export-import relationship between the regions.
The association between the MICM and the European Parliament aims to promote bilateral economic relations, supported by various initiatives, actions and projects.
It is expected to facilitate the marketing of goods and services and identify commercial opportunities, particularly within the framework of the Economic Partnership Agreement between CARIFORO and the European Union.
The signing was attended by key figures from both sides, including EU Ambassador Katja Afheld and Luis Aranque, Head of the Trade Section of the EU Delegation to the Dominican Republic.
This collaboration marks a significant step toward strengthening the Dominican Republic’s position in the global economic landscape.