Puerto Rico is the Dominican Republic’s second largest trading partner, after the United States.

In 2005 Puerto Rico exported US$845,215 and imported US$643,923 worth of goods from the DR. The main exports to Puerto Rico are electrical components, clothing and engine parts. Imports from PR are electrical components, medical equipment, telecommunications equipment, clothing and footwear. Exports from the DR peaked in the mid/late 1990s and are experiencing a steady decline, while imports from PR are on the increase, after a brief lull in the last few years.

“Many Puerto Rican companies recognize the potential for business in the Dominican Republic and the advantages offered by DR-CAFTA for the development of a more dynamic trade relationship between our two countries”, said Armando Del Valle Muñoz, who represents Puerto Rico in the DR, in February 2006. “In 2005 bilateral trade went up to US$1bn, a significant figure that demonstrates the attractiveness of our respective markets and the possibilities for rapid growth once the trade agreement is under way”.

New opportunities have been identified in the following areas: Food and drink, packaging, franchises, steel manufacturing and installation, hardware products, scaffolding, satellite communication networks, signage, legal and financial consultants, commercial carpet layers, software and more.

Recognizing the importance of the DR-CAFTA agreement, Puerto Rico will provide training and capacity-building workshops for DR-CAFTA countries.