U.S. trade mission to boost Caribbean exports

From November 17-22, the International Trade Administration(ITA) led a delegation of over 60 US businesses representing 22 states,the District of Columbia, Puerto Rico, and the Virgin Islands to Santo Domingo, Dominican Republic for the Global Diversity Export Initiative(GDEI) Trade Mission to the Caribbean Region in conjunction with the Opportunities for Minority-Led Businesses in the Caribbean RegionConference.

As part of the trade mission, delegation members have convened in Santo Domingo for a business conference, where they have met with potential regional business partners as well as ITA’s commercial diplomats and experts from US Embassies in 13 Caribbean countries for briefings and specialized one-on-one meetings to gain insights into export opportunities across the region. 

As the largest economy in the Caribbean and one of the top ten largest economies in Latin America, the Dominican Republic’s market economy,pro-business environment, democratic credentials, and stability have enabled it to emerge as an economic hub in the region.

Last year, total US-DominicanRepublic trade reached $31.6 billion.

Additionally, the US-Dominican Republic-Central American Free TradeAgreement has modernized and streamlined trade between the US to generate new opportunities in an already robust relationship.

US firms are the largest foreign investors in the Dominican Republic with $1.9 billion investment in 2023.