The Minister of Industry, Commerce and Small and Medium Enterprises, Victor-Ito-Bisono, led the debate titled DR-Cafta Beyond
Santo Domingo—Since 2022, the country’s trade with the world has grown by 40%. This generated an exponential increase in imports and exports.
The Vice Minister of Foreign Trade of the Ministry of Industry, Commerce and MSMEs (MICM), Vilma Arbaje, shared this information during a conversation titled “DR-Cafta beyond 2025.”
The Minister of Industry, Commerce and MSMEs, Víctor-Ito-Bisonó, addressed the trade deficit with the United States. He noted that examining the deficit between countries must consider the size and conditions of both nations. In the case of the Dominican Republic, the MICM head emphasized the evaluation should be in percentage terms or performance, not only based on the balance amount.
“We have made significant progress. Our orange economy exports have grown by 300%. In the case of tobacco, we have increased production with a strategic chain to 150,000 tasks from 80,000,” said Bisonó.
The Vice Minister of Foreign Trade added, “Our imports and exports have been increasing exponentially. Almost 50% of our trade is with the United States.”
The Dominican Republic’s main markets are the United States and Haiti, but there has been a recent addition of Switzerland, Puerto Rico, and the Netherlands, thanks to increased gold exports.
Main export products have also been reorganized, including gold, cigarettes, medical instruments, and electrical components.
Half of the country’s exports are to the United States, while the remaining percentage goes to China, Mexico, and Brazil. The tobacco industry in the Dominican Republic is valued at over 2 billion dollars, with 1.6 billion in exports and 600 million in raw material imports.
The conversation also included the presentation of the Dacomex RD, Export Potential Map RD, and Market Access Map RD. These are commercial intelligence tools to help exporters expand their borders and make better commercial decisions.
Dacomex RD is the first interactive panel of foreign trade statistics of the Dominican Republic. Potencial Map RD allows understanding the country’s potential in the global market. Market Access Map RD visualizes export possibilities to any part of the world.
The activity included the presence of professor and economist Antonio Ciriaco, businessman Bienvenido Rodríguez, Vice Minister of Domestic Trade, Ramón Pérez Fermín, and directors and collaborators of the MICM.