Geisha Kowlessar-Alonzo
More direct flights between T&T and the Dominican Republic may be in the offing as this country is pursuing new opportunities with the DR in a number of areas.
This was revealed by acting Minister of Foreign Affairs Paul Gopee-Scoon, who shared some of details of the relationship between the countries at the National Day of the Dominican Republic which took place on Tuesday evening at the Club Room, The Renaissance at Shorelands.
In recognizing the continued importance the DR plays in this country’s economic and bilateral relations, Gopee-Scoon, whose substantive post is Minister of Trade and Industry, noted that there are other avenues that could bring tangible benefits to T&T and the Dominican Republic.
“There are several areas that we are keen to pursue, including closer ties in our tourism and agricultural sectors. Most importantly, more direct journeys between our two countries will significantly bolster exchanges in these and other areas of cooperation,” Gopee-Scoon said.
She added that this, together with other agreements, remains under active consideration by relevant authorities, given the benefits that may accrue through closer collaboration.
Further, Gopee-Scoon identified that this country’s commercial attaché based in Kingston, but assigned to also deal with trade relations with the Dominican Republic, has taken up duty and will be working toward dedicatedly deepening this relationship.
On the diplomatic front, Gopee-Scoon revealed that T&T’s Ambassador to the Dominican Republic, Deryck Murray, presented his Letters of Credence to President Abinader in November 2023.
“Following his fruitful visit, Ambassador Murray has indicated specific areas of focus between Trinidad and Tobago and the Dominican Republic and we are keen to continue the momentum in exchanges going forward,” Gopee-Scoon stated.
She further noted that T&T and the Dominican Republic continue to work together in multilateral fora where collaboration on significant matters including climate change and climate financing takes place which remains crucial to sustainability and development.
In this vein, the minister said both countries look forward to continuing this engagement at the United Nations and Cariforum, amongst other platforms.
In commending the Dominican Republic ambassador to T&T, Wellington Darío Bencosme Castaños for his “very active efforts” toward deepening the relationship between the two countries, Gopee-Scoon advised that it is essential that, as neighbours in the Caribbean Sea, that the region continues to be a zone of peace and to build the prosperity of all the citizens.
Bencosme, in his remarks, also acknowledged the challenges faced in terms of connectivity in the region, as he too recognised the need to have a direct flight between this country and the Dominican Republic.
On the commercial front, Bencosme noted that both countries share solid relationships with much greater potential for growth, with increased diversification of products being traded, as well as important investments taking place.
“T&T continues to be an important trading partner for the Dominican Republic, particularly for LNG, urea, and other petrochemicals, making Trinidad and Tobago the DR’s main Caricom trading partner as it pertains to imports; while the Dominican Republic exports to T&T products such as bananas, avocados, other fruits, and vegetables you see in local supermarkets, non-alcoholic beverages, sauce preparations, polymer, and other products,” Bencosme added.
Regarding the DR’s trade products, the ambassador further explained that the Dominican Republic is the largest producer of organic bananas in the world and the largest producer of premium cigars, among others. It is also a leader in the manufacture of different products, including medical devices, electrical components, footwear and apparel, and many other products within a large number of free trade zones, and an efficient and competitive logistical network and hub to complement.
“In 2023, FDI (foreign direct investment) in DR surpassed US$4 billion, for an annual growth of 9.2 per cent with respect to 2022, consolidating its leadership position in attracting FDI in Central America and the Caribbean.
“We are pleasantly moving towards a more sustainable trade relationship between both countries, traditionally a surplus for T&T, of approximately 90 per cent vs 10 per cent, due of the weight of energy related products, with increase exports from DR to T&T of 22 per cent in 2021, 36 per cent in 2022, and 19 per cent for the month of January 2024,” Bencosme said.
He cited that a great example of this mutually beneficial relationship is the fact that imports of T&T urea, a raw material for fertilisers, account for approximately 80 per cent of the DR’s national consumption, instrumental for the stability of its agricultural sector; while at the same time, the Dominican Republic, supplies agricultural products to T&T, contributing further towards greater regional food security.
Likewise, Bencosme noted that the DR is pleased to see key investments and prospects in the Dominican Republic by Trinbagonian companies on renewable energy, chemicals and other areas.
He added that the DR continues to engage potential Dominican investors to explore opportunities in this country in areas such as tourism and industries/free trade zones, two of our main economic pillars and strengths.
“We wish to further build upon the very positive and collaborative relationship with the Government of T&T, with key ministries such as Trade and Industries, Foreign Affairs, and others, and the private sector, directly and through their business association such as TTMA (T&T Manufacturers Association), TTCSI (T&T Coalition of Services) and others,” Bencosme said.
As it relates to tourism, he said January 2024 was a historical month for the DR, as it reached the milestone figure of 10,000,000 tourists, and recording US $848 million, the highest export volume in the history of the Dominican Republic.
Pertaining to the vision of the foreign policy of Dominican Republic towards the Caribbean, Bencosme explained this is based on the strengthening of relations with every nation that the country shares this geographical region, and with whom it shares challenges and opportunities, as well as important historical and cultural ties.
“Special emphasis is to be added in strengthening cooperation in areas of mutual interest as tourism, agriculture, education, and technical cooperation, including the teaching of Spanish and technical-vocational training, cultural and creative industries, and mitigating the impact of climate change and security,” Bencosme further explained.
Similarly, he added that it is in the interest of the Government of the Dominican Republic to expand its relationship with the Caribbean Community (Caricom), which will help improve dialogue and collaboration between the member countries of the bloc and the Dominican Republic, especially in times of so many uncertainties, as Bencosme advised Caribbean countries to work ever closer to face today’s world challenges.