2018News

Foreign Minister Miguel Vargas in Brazil to promote Dominican exports and investment

Miguel Vargas and Marcos Bezerra Abbott / MIREX

Foreign Minister Miguel Vargas was in Brazil on Monday, 14 May 2018 to meet with Brazilian government authorities to discuss alternatives for closer ties between Mercosur (the trade block comprised of Argentina, Brazil, Paraguay and Uruguay) and the Central American Integration System (SICA). The Dominican Republic presides over SICA this first half of the year. SICA is made up of Central American nations and the Dominican Republic.

Vargas met with Brazilian Deputy Foreign Minister Marcos Bezerra Abbott Galvão to review various initiatives for trade ties with SICA countries and bilateral trade with the Dominican Republic. The participation of the Dominican Republic in the Latin American Integration Association (ALADI) was also discussed. While the DR only exports US$14 million of products to Brazil, total trade with Brazil is around US$604 million in 2017. Foreign Minister Vargas understands Dominican exports could increase if tariffs were lower.

On his visit, Vargas also signed accords on political consultation, as well as in the air services, tourism and investment sectors. He also met with Brazilian businessmen interested in doing business in the Dominican Republic in mining, telecommunications, tourism and other services.

The agreements, signed at a ceremony held at the Itamaraty Palace in Brasilia, include the suppression of tourism and business visas; establishment of political consultation mechanisms; air services; cooperation in trade and investment; and collaboration in the field of national defense. Finally, they signed a memorandum of understanding on cooperation in diplomatic training between the Institute of Higher Education Specialized in Diplomatic and Consular Training (INESDYC) and the Alexander Gusmão Foundation (FUNAG).

“We believe that today’s meeting demonstrates the value and commitment that both countries have for our bilateral relationship to continue to grow closer in a framework of mutual respect and collaboration,” said Minister Vargas.

Vargas said he secured the commitment from Brazil for their vote for the Dominican Republic to become a non permanent member on the United Nations Security Council this year.

Vargas also participated in a ground-breaking ceremony for the construction of the Dominican embassy in Brasilia. The embassy and residence would be located Asa Sul, Brasilia, on a lot of 25,000 meters donated by Brasil, in the embassy area. Construction time is estimated at 16 months. Present for the ground breaking were Deputy Minister Hugo Rivera; Dominican ambassador in Brazil Alejandro Arias and the president of the Dominican Civil Aviation Board, Luis Ernesto Camilo.

Read more in Spanish:
Ministry of Foreign Relations
Ministry of Foreign Relations

16 May 2018