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Dominican Republic-Taiwan trade potential US$900M

Santo Domingo.- Industry and Commerce minister José De Castillo on Thursday lauded the billions of dollars in cooperation and investment by Taiwanese companies in Dominican Republic’s numerous industrial parks, and revealed a bilateral trade potential as high as US$900 billion.

He said that only in the sector of export processing zones, these companies have made investments exceeding the US $20 billion, generating more than 3,000 direct jobs and 12,000 indirect.

He said in the export processing zones alone, Taiwan companies have invested more than US$20.0 billion, creating more than 3,000 direct and 12,000 indirect jobs.

Speaking at Taiwan’s Expo Fair 2014″ in the Dominican Fiesta hotel, the official stressed Taiwan’s rising investment in the Caribbean nation, mostly in the footwear and components sector.

He the Free Zones Export Council (CNZFE) approved operations for Sun Jade International Footwear and General Shoes in 2013, which will create a total of more than 15,000 jobs, with a total investment of more than US$25.0 million.

“We feel that the time is ripe to establish new Taiwanese companies in the Dominican Republic,” the official said and noted electrical and electronic equipment manufacturing; shoes and hides, textiles and apparel.

Del Castillo added that the trade between the two countries can increase, since a CNZFE analysis revealed a potential as high as US$900 billion.

Source: DT

Category: DR News |

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Last updated March 25, 2017 at 5:40 PM
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