President Meets US Commerce Secretary and Business People Interested in Investing in DR

On Monday, President Leonel Fernández met with US Commerce Secretary, Carlos M. Gutiérrez and a group of business people in the National Palace where they discussed establishing a market in the Dominican Republic, taking advantage of the regional opportunities on offer as a result of the Free Trade Agreement with the United States and Central American (DR-Cafta).

“We reiterate our commitment to continue working to develop the two economies, continue developing the growth of prosperity and the creation of employment in both countries,”

The president met in his office with Carlos M. Gutiérrrez who headed the delegation of North American business people, and US Ambassador to the DR, Robert Fann, according to a press release from the President´s Office of Information, Press and Publicity.

Later President Fernández went to the Ambassadors Hall to greet the US business people interested in investing in the Dominican Republic.

The Secretary of Commerce of the United States said the meeting with the President of the Republic centered on the business opportunities that exist in view of the Free Trade Agreement, the challenge of textile industry and competition with the Asian and Chinese markets.

He noted that the Dominican government has detailed knowledge of current market opportunities and strategies.

“We reiterate our commitment to continue working to develop the two economies, continue developing the growth of prosperity and the creation of employment in both countries,” said the US official.

Gutiérrez pointed out that the delegation is made up of representatives from ten companies, some of which are already established in the DR such as Citibank and others that are looking to break into the Dominican market.

He said there are two big companies from his country as well as cell phone companies, training and textiles businesses, “that are looking for opportunities to invest in this country. They met with local entrepreneurs, business people who can be partners in a company.”

“We want capital to continue to flow into the Dominican Republic, for the country to continue to grow in that it is a very important ally for the US and it is in our interest to see continued growth, continued prosperity,”

Carlos M. Gutiérrez stressed the growth of Dominican tourism as well as other sectors such as those who make up the high level work force, saying that they are very talented and creative.

“We want capital to continue to flow into the Dominican Republic, for the country to continue to grow in that it is a very important ally for the US and it is in our interest to see continued growth, continued prosperity,” said the US Secretary of Commerce.

Businesses interested in investing in the DR include Alcatel, which sells and rents mobile tubs and showers; Best Buy, a multinational that sells electronic, technological and entertainment products; Cell Gate USA, which is focused on providing cellular phones with GSM technology and Citibank.

In addition, C-tech Associates International is also seeking to establish commercial relations with local companies dedicated to computer training; DePaul & Company which offers consulting for construction and development projects. Excalibur Food Dehydrators are interested in finding distributors of its equipment that makes food preservatives; Home Depot, which specializes in the sale of construction, home remodeling materials and the Waitex Group of Companies that produces clothing.

The official US delegation also included the President of Overseas Private Investment Corp, Robert Mosbacher; the Director of Trade and Development Agency, Larry Walter; Walter Bastian, the first Vice President of Export-Import Bank; Ellen Dunlap, deputy secretary for the Western Hemisphere and chief of the Economic Section of the US Embassy and Robert Jones, the Commercial Attaché.

The Dominican government was represented by the Minister of Industry and Commerce, Ramón Fadul and Ambassadors Lino Gutiérrez and Flavio Darío Espinal.

The US Commerce Secretary also met with the business group from the American Chamber of Commerce and toured the Cybernetic Park and the Institute of Technology of the Americas.