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U.S. Commercial Service Dominican Republic Caribbean Region Presented by: Michael L. McGee Commercial Counselor- Caribbean Region May 2006 FOCUS Caribbean at a Glance DR-CAFTA Agreement and Process Benefits & Opportunities In Dominican Republic Trials, Challenges, And Concerns

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U.S. Commercial Service Dominican Republic Caribbean Region


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slide1

U.S. Commercial Service

Dominican Republic

Caribbean Region

Presented by: Michael L. McGee

Commercial Counselor- Caribbean Region

May 2006

slide2

FOCUS

Caribbean at a Glance

DR-CAFTA Agreement and Process

Benefits & Opportunities In Dominican Republic

Trials, Challenges, And Concerns

Programs / Services in CS Caribbean

slide3

Caribbean Regionat a Glance

  • 26 Markets, 34 million people
  • 2nd Largest U.S. export Market in Latin America
  • Total Imports: $38 billion
  • Imports from U.S.: $15 billion
  • U.S. Import Market Share: 40%

Statistical Data For 2005

slide4

DR-CAFTA: Facts

Dominican Republic

  • President Bush signed DR-CAFTA legislation on August 2, 2005
  • Dominican Congress Ratified DR-CAFTA on September 6, 2005
  • Comprehensive reciprocal Trade Agreement; not unilateral like CBI/CBTPA
  • Immediate Duty Free entry for more than 80% of U.S. manufactured exports; 10 year phase-in for remainder
slide5

DR-CAFTA: Facts

Dominican Republic- cont’d

  • Better business and investment climate—transparency, procurement, investment protection
  • DR-CAFTA agreement will enter into force in the D.R. when the country fulfills the conditions and obligations needed to implement it
  • Projected DR entry date is July 2006
slide7

Dominican Republic

Highlights

  • Population: 9 million
  • GDP: $17 billion
  • GDP growth: 9%
  • Bilateral Trade US/DR: $9.3 billion
  • Total Imports: $7.9 billion
  • Imports from US: $4.7 billion
  • US Imports Market Share: 60%
  • Consumer Goods imports from US: 70%
  • Ranking for U.S. Exports to WH: 7th Largest

Note: Statistical data for 2005

slide8

Why Export to the Dominican Republic?

  • Growing Use Of English In Business
  • U.S. Standards Widely Recognized and Accepted
  • Affinity to U.S. Culture
  • Progressive Market Liberalization
  • Few Import Restrictions
  • Labeling and Testing Not Typically a Problem
slide9

Dominican Republic

DR Advantages

  • Geographic Proximity
  • State-of-the-art ICT Infrastructure
  • Modern FTZ infrastructure
  • Five International Airports and More than 45 Direct Flights to U.S. Territory Daily
  • 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
slide10

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

slide11

DominicanRepublic

Best Prospect Sectors for U.S. Exporters

Market Share

Market Size

U.S. Imports

  • 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
slide12

Trials, Challenges And Concerns

  • Slow Progress Toward Preparations To Implement DR-CAFTA
  • Increase in the illegal narcotics transit, delivered by air or by boat from South America
  • Inadequate Protection Of Intellectual Property Rights
  • Lack of Transparency in Customs Operations
  • The Failure of the Electrical Power System
  • The Culture Of Impunity
  • Lack of Transparency In Government Procurement
slide14

Products and Services for U.S. Exporters

  • COUNSELING
  • ADVOCACY
  • MARKET RESEARCH
  • FINDING INTERNATIONAL PARTNERS
  • TRADE MISSIONS
  • INTERNATIONAL BUYER PROGRAM
  • OUTREACH AND COMMERCIAL DIPLOMACY
slide15

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

slide16

UsefulContact Information

  • U.S. Commercial Service in the Caribbean:
  • www.buyusa.gov/caribbean/en
  • U.S. International Trade Administration:
  • www.export.gov
  • Office of the United States Trade Representative:
  • www.ustr.gov
  • Business Coalition for U.S.-Central America Trade:
  • www.uscafta.org
  • USDOC CAFTA Website
  • www.ita.doc.gov/cafta
  • Trade Compliance Center, U.S. Dept. of Commerce:
  • www.tcc.mac.doc.gov
slide17

U.S. COMMERCIAL SERVICECARIBBEAN

Michael L. McGee

Counselor for Commercial Affairs for the Caribbean

michael.mcgee@mail.doc.gov

Dominican Republic

Maria Elena Portorreal

Tel: (809) 227-2121

Fax: (809) 920-0267

maria.elenaportorreal@mail.doc.gov

Jamaica

Emile Finlay

Tel: (876) 920-2826

Fax: (876) 920-2580

emile.finlay@mail.doc.gov

Trinidad & Tobago

Hannah Bereaux

Tel: (868) 622-6371

Fax: (868)622-2444

hannah.bereaux@mail.doc.gov

Barbados

Doreen Weekes

Tel: (246)436-4950

Fax: (246) 228-6084

doreen.weekes@mail.doc.gov

www.BuyUSA.gov/caribbean/en