Minister of Industry & Commerce Victor (Ito) Bisonó told the audience of the monthly American Chamber of Commerce luncheon that the Dominican Republic has strategically positioned itself as a leader in the reconfiguration of global supply chains.
Speaking at the monthly luncheon of the American Chamber of Commerce, Bisonó highlighted the country’s competitive advantages, strategic location, and strengthened infrastructure as key factors in its nearshoring strategy. He noted the continued growth of Dominican exports, particularly to the United States, which reached US$6.915 billion in 2024, a 7% year-on-year increase.
This, he argued, reflects the added value of Dominican products in a demanding market, consolidating the United States as the country’s main trading partner, with 53% of its exports destined for the US.
Regarding free zones, Minister Bisonó highlighted their exponential growth, with more than 198,400 direct jobs in 2024.
Minister Bisonó explained that nearshoring, having evolved from a business strategy to a driving force, has placed the Dominican Republic at the center of key commercial movements. He emphasized the country’s people, strong institutions, and capacity for innovation as the foundation of this transformation.
The Minister pointed out that the country stands out not only for its geographical proximity but also for its ability to turn supply chains into a competitive advantage. He cited recent milestones such as the country’s removal from the Watch List of the US Trade Representative’s Special 301 Report, reflecting its commitment to intellectual property rights.
He also highlighted the accreditation of the laboratory of the Dominican Agribusiness Board, which allowed the country’s meat processors to export these products to the United States with full assurance of compliance with international standards. He further emphasized the fight against illicit trade, noting that the country has managed to reduce deaths from adulterated alcohol consumption to zero, a crisis that claimed 331 lives in 2020.
The luncheon was attended by the president of AmchamDR, Edwin de los Santos; US charge d’affaires Patricia Aguilera; business leaders; members of the diplomatic corps; and government officials, among others.
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El Caribe
19 February 2025