Director of the Center for Investment and Export (CEI-RD), Eddy Martinez announced during a visit to New Delhi earlier this month that the DR would soon open an embassy in New Delhi to support new efforts to join strengths of India with those of the DR. Both governments have expressed a keen interest in opening up contacts and strengthening bilateral relations.
During his visit to New Delhi, Martinez signed a Memorandum of Understanding whereby the Dominican Republic and Kerala Industrial Infrastructure Development Corporation (Kinfra) to promote investments in Kerala. The agreement is intended to Exchange information for enhancing bilateral trade and technology transfer and create opportunities for joint ventures for promotion of food processing, infotainment and biotechnology sector. Kerala Industry Minister VK Ebrahim Kunju presided over the meeting. He said that IT, tourism, biotechnology, ayurveda food processing will be common areas of interest in investment.
Martinez said that there was much interest in IT companies in India in ventures whereby they could expand their international presence by establishing ties with Dominican companies that provide IT services for export. Martinez explained that Indian companies could contribute their knowledge base, while Dominican companies would contribute skilled labor force, Spanish language skills and access to market. Martinez is spearheading development of the Cyberpark near the Las Americas International Airport
Indian companies that showed an interest included Hewitt, Wipro, Mphasis, Infosoft, Mascon y SerWizsol, a subsidiary of Tata Technologies.
External Affaires Minister Rao Inderjit Singh of India was one of the first high-ranking international visitors to be hosted by the new government of President Leonel Fernandez. He visited the Dominican Republic in September 2004, shortly after the change of government.