Ambassador Adam Blackwell highlighted yesterday at a breakfast with the press that the Dominican Republic has an emotional advantage in doing business with Canada. Of the Canadian adult population of 30 million, about half have visited the Dominican Republic at least once over the past 20 years, with most of those having enjoyed their vacations. Approximately 300,000 Canadians tourists are expected this year again. Blackwell said that Canada is already the second greatest investor in the Dominican Republic.
Nevertheless, since Blackwell’s arrival six months ago, he says that he has discovered over and over again during his travels in the DR that Dominicans, in turn, have very little knowledge about Canada. The Dominican-American Chamber of Commerce and the Embassy of Canada are working to change this, especially with the upcoming signing a free trade agreement this year. See http://www.dfait-maeci.gc.ca/tna-nac/dr-en.asp?format=print
In order to further their objectives, both organizations are sponsoring a Canada-Dominican Republic Workshop for Tuesday, 4 February at the Melia Santo Domingo Hotel. Speakers will focus primarily on mechanisms available in Canada and the Dominican Republic to promote trade. Also on the roster is a speaker from Costa Rica, where a free trade agreement with Canada was recently implemented.
Fernando Rainieri, president of the Chamber, explained that the goal is to get a head start on preparations for when the mutual agreement goes into effect. With negotiations towards these ends advancing, Rainieri says that Dominican businessmen need to be aware of the terms of the negotiations and the opportunities and challenges that are being created.
According to Rainieri, free trade will bring considerable amounts of new investment. He explained that now is the time for Dominican businessmen to gain an understanding of the four Canadian governmental organizations offering services of interest to Dominicans interested in conducting business with Canadian companies, or in developing joint ventures. The Canadian Embassy in the Dominican Republic estimates trade between both countries at US$500 million a year, and Canadian investment in the DR is said to be near US$1.4 billion.
The four leading Canadian agencies to be introduced to Dominicans at the seminar are: – The Canadian Commercial Corporation (CCC), Canada’s export contracting agency that brings buyers and Canadian exporters together. This government department provides assistance to thousands of companies from across Canada, helping to close more than $30 billion in Canadian dollars in win-win deals with foreign governments and private sector buyers. See http://www.ccc.ca/eng/abo_main.cfm – The Canadian Agency for International Development, supporting foreign-aid projects (http://www.acdi-cida.gc.ca/index-e.htm) – Export Development Canada (EDC), which provides Canadian exporters with financing, insurance and bonding services as well as foreign market expertise. See http://www.edc.ca/index_e.htm – The Trade Facilitation Office (TFOC), established to assist Canadian importers and foreign exporters trading on the Canadian market. See http://www.tfoc.ca/tfoc/about_us.htm For more information, contact the Dominican-Canadian Chamber of Commerce by calling 809 685-1138, or by email at ccdc@codetel.net.do
