Santo Domingo.- Since its inception in 2008, the Economic Partnership Agreement (EPA) between the Dominican Republic and the European Union has significantly boosted bilateral trade.
In the last 15 years, trade in goods between the two regions has increased by 231%, reaching 4,154 million euros in 2022. Dominican exports to European countries constitute 1,400 million euros of this total.
Katja Afheldt, ambassador of the European Union in the Dominican Republic, highlighted that trade between Europe and the Dominican Republic has effectively tripled since the signing of the EPA.
Dominican products entering Europe are now of higher quality, reflecting a diversification of exports.
The Dominican Republic has become a key supplier of medical equipment, organic bananas and organic cocoa to the EU.
Afheldt highlighted the importance of maintaining high quality standards for exports, in line with Europe’s green deal, which encourages a shift towards a more sustainable economy.
The EU market is increasingly attentive to environmental concerns such as deforestation and excessive use of chemicals in production.
Luis Araque, head of the EU trade section in the Dominican Republic, highlighted the positive impact of the agreement and the diversification of the Dominican export portfolio.
This diversification now includes sophisticated and high-value products such as medical equipment, supplies, cosmetics, footwear and clothing.
The Dominican Republic stands out as the main exporter of organic products to the EU, a testament to the country’s success in adapting to market demands and the opportunities provided by the EPA.
Araque highlighted this achievement as an indicator of the progressive diversification of Dominican exports, going beyond traditional basic products to include products with greater added value.