President Leonel Fernandez said that the Dominican Republic would be maintaining its close ties with Taiwan for strategic reasons, and would like to strengthen the relationship based on receiving investment, not donations as in the past. He commented that he is aware that Taiwanese businesses have invested over US$300 billion in China. “Why couldn’t these same Taiwanese businesses consider making investments with the Dominican private sector in the Cyberpark?, he commented during the Workshop on Foreign Policy organized by the Ministry of Foreign Relations. He mentioned he would travel to Taiwan in June to focus on possible investments by the Taiwan private sector in the DR. He said he has held conversations to this end with the head of state of Taiwan.
Part of the President’s vision is that the country needs to move from a labor-intensive model, such as that in the free trade manufacturing zones, to a knowledge-based economic model that is supported by technology. “We have high hopes that the Cyberpark will become the technological corridor of the Americas and that within 10 or 15 years it may represent the new paradigm of economic and social development of the Dominican Republic,” he said. He commented that Taiwan is a leading producer of hardware and chips and a major exporter to the US market.
During the workshop, President Fernandez spoke of the strategic position the DR has in the Caribbean and now more so with its access to Central American and US markets through DR-CAFTA.
Fernandez explained that given that framework, why not create a triangular relationship between Taiwan, the Dominican Republic and the East Coast of the US, primarily Florida? He mentioned that Florida is the fifth most advanced US state in technological development with more than 15,000 technology companies. The DR is the second most important trading partner with Florida with more than US$8 billion in exports of apparel, footwear, farming products, and that this relationship could be extended to the technology fields.
As reported in Hoy newspaper, during his participation in the workshop, President Fernandez also stated that the DR expects to increase its commercial ties with China. He mentioned that the Dominican trade office in Beijing to promote bilateral trade.
During the workshop, President Fernandez also announced that the DR would be opening embassies in Qatar and Saudi Arabia, in Moscow and in South Africa.