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U.S. Commercial Service Dominican Republic Caribbean Region PowerPoint Presentation
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U.S. Commercial Service Dominican Republic Caribbean Region

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U.S. Commercial Service Dominican Republic Caribbean Region - PowerPoint PPT Presentation

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U.S. Commercial Service Dominican Republic Caribbean Region

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  1. U.S. Commercial Service Dominican Republic Caribbean Region Presented by: Michael L. McGee Commercial Counselor- Caribbean Region May 2006

  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. 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

  4. 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

  5. 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

  6. DR- CAFTA Country Percentage GDP Growth Rates 2005

  7. 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

  8. 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

  9. 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

  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. 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

  12. 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

  13. Products and Services for U.S. Exporters • COUNSELING • ADVOCACY • MARKET RESEARCH • FINDING INTERNATIONAL PARTNERS • TRADE MISSIONS • INTERNATIONAL BUYER PROGRAM • OUTREACH AND COMMERCIAL DIPLOMACY

  14. 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. 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

  16. 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