SANTO DOMINGO– Foreign Minister Roberto Álvarez stated that the transformation of the international geoeconomic landscape, Mexico's industrial capacity, and the Dominican Republic's logistics platform and manufacturing capacity represent a strategic opportunity to reach a new stage of development in trade and investment relations between the Dominican Republic and Mexico.
Speaking as a guest at a luncheon hosted by the Dominican-Mexican Chamber of Commerce and Investment (CADOMEX), the Foreign Minister stated that Mexico has a strong industrial base and a broad network of suppliers, while the Dominican Republic has developed dynamic manufacturing sectors, boasts a strategic location, preferential access to major markets, macroeconomic stability, legal security, and institutional strengthening. These attributes represent the greatest potential for the evolution of Dominican-Mexican relations.
“The incorporation of inputs, components and industrial processes from Mexico can further strengthen the competitiveness of both countries and expand their possibilities of jointly serving third markets,” he said.
He also considered that the high degree of trust, understanding and maturity that characterizes the relations between the Dominican Republic and Mexico creates favorable conditions to expand cooperation into new areas of strategic interest and jointly address common regional challenges, such as the impact of sargassum.
Álvarez also highlighted that Mexico is one of the largest foreign investors in the country, with accumulated investments exceeding US$3 billion, through companies such as Claro Dominicana, Bepensa, Sigma Alimentos and The Palace Company.
He also highlighted the role of the business sector in strengthening relations between the two countries, noting that companies develop suppliers, incorporate innovation, and create the economic ties that institutions later consolidate. In this regard, he urged business leaders to play a decisive role in the next stage of the economic relationship between the Dominican Republic and Mexico.
The event was led by the president of CADOMEX, Jesús Cornejo, who highlighted the wide opportunities to deepen cooperation between the Dominican Republic and Mexico in areas such as trade, education, culture and tourism.
"There are great opportunities to position the Dominican Republic, with the support of Mexico, within global value and supply chains, especially in products and services exported to the United States," he stated.
During the meeting, Foreign Minister Roberto Álvarez answered questions from business leaders and representatives of the private sector about the prospects for bilateral trade, the investment climate, business opportunities, and the Dominican government's strategy to strengthen the international integration of the national economy.
Álvarez was accompanied by the deputy ministers, Francisco Caraballo, Hugo F. Rivera, and Opinio Díaz, as well as directors and other officials from the Ministry of Foreign Affairs. Also participating were the executive director of CADOMEX, Tony Sánchez; the Mexican ambassador to the Dominican Republic, Carlos Aysa González; members of the CADOMEX board of directors; representatives from companies in the financial, industrial, logistics, commercial, technological, and service sectors; and authorities from the Ministry of Industry, Commerce, and SMEs (MICM).
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