An estimated 2,000 business delegates from the Dominican Republic and the Caribbean region are participating in the two-day V Grand Caribbean Business Forum at the Renaissance Jaragua Hotel. The event is bringing together foreign companies interested in the Caribbean and Caribbean businesspeople to generate new enterprise in this potential market of 240 million consumers with a buying power of more than US$500 billion.
The director of the Center for Exports and Investment of the Dominican Republic (CEI-RD), which is hosting the event, emphasized the importance of strengthening trade and investment relations among the 28 countries that comprise the Association of Caribbean States (ACS). “We must admit that perhaps due to logistical difficulties and a lack of options in maritime and air transport, as well as a lack of confidence ? and may we say even fear that many businesspeople feel when conducting business in our region ? the increase in trade and investment among our countries has been minimal,” said Eddy Martinez. He added that trade represents an average of only 8% of the total trade volume in the region, and in the case of the DR, a mere 6% of total trade. “We export some US$235 million and import US$572 million,” said Martinez, and called on Dominican exporters to rise to the challenge of increasing this amount significantly in the near future.