MEET – Work progresses on the trade pillar of the Alliance for Development in Democracy

The Minister of Industry, Trade and MSMEs, Víctor -Ito-Bisonó, held a courtesy meeting with US Senator, Tim Kaine, and Member of the House of Representatives, Adriano Espaillat, to follow the progress of the pillar of the Alliance for Development in Democracy (ADD), made up of Costa Rica, Panama and the Dominican Republic.

During the meeting, officials discussed the possibility of creating a working group focused on the Caribbean and Central America region to identify specific incentives and mechanisms to accelerate outreach opportunities.

“The main opportunity under the ADD is the relocation of supply chains from Asia to the region of the alliance countries, since we are the optimal destination to receive these new investments and that is why we let’s talk about ‘ami-shoring’, because it is between allied countries”, said Bisonó, who clarified that the priority sectors that have been identified to strengthen the value chains are: medical devices, electronic devices, renewable energies and health tourism.

The Minister provided a chronological overview of prior ADD meetings and highlighted that the region has the ideal business climate for new U.S. investment to relocate to the region, has economic, political and social stability, attractive investments and work with academies. strengthen technical-vocational training and the level of English.

He stressed that support is needed to provide U.S. government funding mechanisms and incentives to companies with the potential to shift operations to countries in the region to develop the necessary infrastructure to host those operations.

Kaine, who among his responsibilities is the head of the Senate Committee for the Americas, explained that he was touring Costa Rica and Panama to understand each country’s priorities under the ADD and thanked the openness. of the government of the Dominican Republic and the work done to make the alliance a success.

He gave as an example of the opportunities that after the pandemic, health-related products and devices are now concentrated within the value chains associated with national security and, therefore, greater control is sought over them.

Espaillat, who has worked on legislative initiatives on nearshoring, said the resulting initiatives must support and reinforce existing trade agreements between countries in the region and the United States, and was open to evaluating the government’s proposals. Dominican leadership and business representatives.

Present at the meeting, alongside Bisonó, Kaine and Espaillat, were Robert Thomas, charge d’affaires of the United States Embassy in the country; MICM Deputy Ministers Carlos Guillermo Flaquer, Free Zones and Special Regimes, and Vilma Arbaje, Foreign Trade; Jonathan Bournigal, Director of the Cabinet of the MICM, and Miguel Núñez, Director of the Cabinet of the Ministry of Foreign Affairs (MIREX).

As representatives of the private sector, Steven Puig and William Malamud, from the American Chamber of Commerce of the Dominican Republic (AMCHAMDR), participated.

Puig y Malamud explained that the corporate initiative ADD+USA Business Council was formalized, which integrated into the directives of the American cameras of the business of the countries miembros de la alianza, entre otros, para asesorar y acompañar a las empresas sobre las oportunidades en cada Country.

They also mentioned the attractiveness of the development of technology hubs in the region, so the development of the chip law, as well as the role of the Ministry of Commerce, can be of great help, as well as the promotion of harmonization of regulatory frameworks.


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