U.S. Commercial Service Dominican Republic


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U.S. Commercial Service Dominican Republic

  1. 1. U.S. Commercial Service Dominican Republic Caribbean Region May 2006 Presented by: Michael L. McGee Commercial Counselor- Caribbean Region
  2. 2. FOCUS Caribbean at a Glance DR-CAFTA Agreement and Process Benefits & Opportunities In Dominican Republic Trials, Challenges, And Concerns Programs / Services in CS Caribbean
  3. 3. Caribbean Region at a Glance <ul><li>26 Markets, 34 million people </li></ul><ul><li>2 nd Largest U.S. export Market in Latin America </li></ul><ul><li>Total Imports: $38 billion </li></ul><ul><li>Imports from U.S.: $15 billion </li></ul><ul><li>U.S. Import Market Share: 40% </li></ul><ul><li>Statistical Data For 2005 </li></ul>
  4. 4. <ul><li>President Bush signed DR-CAFTA legislation on August 2, 2005 </li></ul><ul><li>Dominican Congress Ratified DR-CAFTA on September 6, 2005 </li></ul><ul><li>Comprehensive reciprocal Trade Agreement; not unilateral like CBI/CBTPA </li></ul><ul><li>Immediate Duty Free entry for more than 80% of U.S. manufactured exports; 10 year phase-in for remainder </li></ul>DR-CAFTA: Facts Dominican Republic
  5. 5. <ul><li>Better business and investment climate—transparency, procurement, investment protection </li></ul><ul><li>DR-CAFTA agreement will enter into force in the D.R. when the country fulfills the conditions and obligations needed to implement it </li></ul><ul><li>Projected DR entry date is July 2006 </li></ul>DR-CAFTA: Facts Dominican Republic- cont’d
  6. 6. DR- CAFTA Country Percentage GDP Growth Rates 2005
  7. 7. Dominican Republic Highlights <ul><li>Population: 9 million </li></ul><ul><li>GDP: $17 billion </li></ul><ul><li>GDP growth: 9% </li></ul><ul><li>Bilateral Trade US/DR: $9.3 billion </li></ul><ul><li>Total Imports: $7.9 billion </li></ul><ul><li>Imports from US: $4.7 billion </li></ul><ul><li>US Imports Market Share: 60% </li></ul><ul><li>Consumer Goods imports from US: 70% </li></ul><ul><li>Ranking for U.S. Exports to WH: 7 th Largest </li></ul>Note: Statistical data for 2005
  8. 8. Why Export to the Dominican Republic? <ul><li>Growing Use Of English In Business </li></ul><ul><li>U.S. Standards Widely Recognized and Accepted </li></ul><ul><li>Affinity to U.S. Culture </li></ul><ul><li>Progressive Market Liberalization </li></ul><ul><li>Few Import Restrictions </li></ul><ul><li>Labeling and Testing Not Typically a Problem </li></ul>
  9. 9. Dominican Republic DR Advantages <ul><li>Geographic Proximity </li></ul><ul><li>State-of-the-art ICT Infrastructure </li></ul><ul><li>Modern FTZ infrastructure </li></ul><ul><li>Five International Airports and More than 45 Direct Flights to U.S. Territory Daily </li></ul><ul><li>Eight Major Seaports including Punta Caucedo Port, a state-of-the-art deepwater container terminal designed to become a regional hub for the Caribbean, Central, and South America </li></ul>
  10. 10. U.S. Presence in the Dominican Republic ICT: Microsoft, Centennial, Lucent Technologies, Xerox Finance: Citigroup, Western Union Real Estate: Stewart Title, Century 21, Coldwell Banker Automotive: Ford General Motors, MFI Products Pharmaceuticals: Pfizer Labs, Merck Sharp & Dohme Shipping: CSX, Tropical Shipping, Seaboard Marine, Bernuth Lines, FedEx, UPS Oil: Chevron, Exxon/Mobil Apparel: Hanes Caribe (Sara Lee), Timberland Consumer Products: 3M, Colgate, Palmolive, Johnson & Johnson, Proctor & Gamble Accounting: Price Cooper, KPMG Energy: AES, Cogentrix Airlines: American, United, Continental, Delta, US Airways, Jet Blue, Spirit Hotel/Tourism: Westin, Clarion, Coral/Embassy Suites/Hilton, Renaissance/Courtyard/Marriott, Quality Inn
  11. 11. Building Products, and Construction Equipment Medical Equipment and Healthcare Services Printing and Graphics Arts Equipment and Supplies Automotive Parts and Service Equipment Computers and Peripherals Hotel and Restaurant Equipment Air Conditioning and Refrigeration Equipment Dominican Republic Best Prospect Sectors for U.S. Exporters Market Size U.S. Imports Market Share 32% $15 million $46.5 million 67% $13 million $19.5 million 61% $50 million $81.5 million 69% $59 million $85 million 77% $132 million $170 million 48% $105 million $216.5 million 33% $86 million $262 million
  12. 12. <ul><li>Slow Progress Toward Preparations To Implement DR-CAFTA </li></ul><ul><li>Increase in the illegal narcotics transit, delivered by air or by boat from South America </li></ul><ul><li>Inadequate Protection Of Intellectual Property Rights </li></ul><ul><li>Lack of Transparency in Customs Operations </li></ul><ul><li>The Failure of the Electrical Power System </li></ul><ul><li>The Culture Of Impunity </li></ul><ul><li>Lack of Transparency In Government Procurement </li></ul>Trials, Challenges And Concerns
  13. 14. Products and Services for U.S. Exporters <ul><li>COUNSELING </li></ul><ul><li>ADVOCACY </li></ul><ul><li>MARKET RESEARCH </li></ul><ul><li>FINDING INTERNATIONAL PARTNERS </li></ul><ul><li>TRADE MISSIONS </li></ul><ul><li>INTERNATIONAL BUYER PROGRAM </li></ul><ul><li>OUTREACH AND COMMERCIAL DIPLOMACY </li></ul>
  14. 15. Upcoming Events TRADE MISSIONS / INTERNATIONAL BUYER PROGRAMS Reverse Trade Mission to Miami, FL May 1-3, 2006 National Hardware Show and Lawn & Garden World IBP May 9-11, 2006 National Restaurant Hotel-Motel Show IBP May 20-23, 2006 Las Americas Trade Show June 4-6, 2006 International Plastics Showcase – NPE 2006 IBP June 19-23, 2006 Director General-Led SME Mission to the DR June 26-28, 2006 Enterprise Florida Trade Mission July 9-12, 2006 FIME 2006 IBP August 16-18, 2006 Magic Show 2006 IBP August 28-30, 2006 Reverse Trade Mission to North Carolina September 5-8, 2006
  15. 16. Useful Contact Information <ul><li>U.S. Commercial Service in the Caribbean: </li></ul><ul><li>www. buyusa . gov / caribbean /en </li></ul><ul><li>U.S. International Trade Administration: </li></ul><ul><li>www.export. gov </li></ul><ul><li>Office of the United States Trade Representative: </li></ul><ul><li>www. ustr . gov </li></ul><ul><li>Business Coalition for U.S.-Central America Trade: </li></ul><ul><li>www.uscafta.org </li></ul><ul><li>USDOC CAFTA Website </li></ul><ul><li>www. ita .doc. gov / cafta </li></ul><ul><li>Trade Compliance Center, U.S. Dept. of Commerce: </li></ul><ul><li>www.tcc.mac.doc. gov </li></ul>
  16. 17. U.S. COMMERCIAL SERVICE CARIBBEAN Dominican Republic Maria Elena Portorreal Tel: (809) 227-2121 Fax: (809) 920-0267 [email_address] Jamaica Emile Finlay Tel: (876) 920-2826 Fax: (876) 920-2580 [email_address] Barbados Doreen Weekes Tel: (246)436-4950 Fax: (246) 228-6084 [email_address] Trinidad & Tobago Hannah Bereaux Tel: (868) 622-6371 Fax: (868)622-2444 [email_address] www.BuyUSA.gov/caribbean/en Michael L. McGee Counselor for Commercial Affairs for the Caribbean [email_address]