Caribbean Export Forges Closer Ties with the Dominican Republic through Headquarters Agreement Signing

  • Caribbean Export signs a Headquarters Agreement with the Government of the Dominican Republic.
  • The signing marks a milestone in a new era of collaboration and progress for the Caribbean.
  • Caribbean Export is committed to fostering greater regional trade and attracting foreign direct investment to the Caribbean.

Santo Domingo, DOMINICAN REPUBLIC –   

The Caribbean Export Development Agency (Caribbean Export) took a significant step forward in strengthening trade and cooperation with the Dominican Republic as Minister of Foreign Affairs, Roberto Álvarez, and Caribbean Export’s Executive Director, Deodat Maharaj, gathered for the momentous signing of a Headquarters Agreement formalizing the operations of the Subregional Office of the agency in the Dominican Republic (DR).

After signing the agreement, Minister Álvarez highlighted that Dominican companies will now enjoy the distinct advantage of having the agency’s Subregional Office formally established within the country. Caribbean Export’s primary objective is to boost trade and investment between the Caribbean Forum (CARIFORUM) group of countries[1], the European Union, other parts of the world.

“For over 20 years, Caribbean Export Development Agency has implemented innovative initiatives designed to facilitate the expansion of Caribbean companies at the national, regional, and international levels, taking advantage of special access to the European market. With the establishment of this office, a great opportunity opens up for the Dominican Republic to support export-capable companies, enhance their capacity and competitiveness, boost export earnings, and create more jobs, as outlined in the second pillar of our foreign policy,” stated Minister Roberto Álvarez.

Caribbean Export’s Executive Director, Deodat Maharaj, highlighted the significance of this agreement, as it marks the formal establishment of the agency’s subregional office in the Dominican Republic. Moreover, it demonstrates the Dominican Republic’s commitment to working jointly with the agency to promote regional trade and attract foreign direct investment to the Caribbean.

“For Caribbean Export, the Dominican Republic holds significant relevance in the context of trade integration, and we will work together to create a bridge between Latin America and the rest of the Caribbean,” expressed Maharaj.

With conviction, he confirmed that this agreement firmly establishes the Subregional Office of the agency in the country. In light of this, Maharaj seized the opportunity to urge the Dominican private sector to regard Caribbean Export as a crucial ally in their individual growth strategies, particularly those geared towards bolstering exports and attracting foreign investments. He emphasized, “Only together can we pave the way for a smarter, greener, and more resilient Caribbean.”

The signing of the Headquarters Protocol represents a collaborative effort between the Vice Ministry of Economic Affairs and International Cooperation, the Legal Department of the Ministry of Foreign Affairs, and Caribbean Export. Recognizing Caribbean Export as an international organization headquartered in Barbados, this protocol solidifies the agency’s purpose of promoting trade, export development, and investments among CARIFORUM countries to drive socioeconomic development and regional integration.

Under this agreement, the Dominican Government has committed to providing the necessary facilities to ensure the seamless functioning of Caribbean Export’s Subregional Office and to uphold the commitments made by the 15 CARIFORUM countries upon the agency’s inception in 1995.

The momentous event was attended by distinguished representatives, including Minister of Economy, Planning, and Development, Pável Isa Contreras, and Deputy Minister of International Cooperation of the Ministry of Economy, Planning, and Development (MEPYD), Olaya Dotel. Also present were Vice Ministers Opinio Díaz and Carlos de la Mota from the Ministry of Foreign Affairs (MIREX), and Hugo Fco. Rivera, the director of the National Commission on Trade Negotiations, representing the Deputy Minister for Economic Affairs and International Cooperation. Additionally, Leonel Naut, Deputy Executive Director of Caribbean Export Development Agency, played a key role in the event.

Caribbean Export Development Agency looks forward to further enhancing its ties with the Dominican Republic and working together to drive economic growth, regional trade, and prosperity for all nations in the Caribbean. This milestone marks a new era of collaboration and progress for the entire region.

[1] CARICOM countries and the Dominican Republic