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Florence, Italy May 6, 2010

PROMOTING ECONOMIC DEVELOPMENT THROUGH EUROPEAN – CARIBBEAN PARTNERSHIPS CAMARA DE COMERCIO Y PRODUCCION DE SANTO DOMINGO TOSCANA PROMOZIONE. Florence, Italy May 6, 2010 Milagros J. Puello

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Florence, Italy May 6, 2010

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  1. PROMOTING ECONOMIC DEVELOPMENT THROUGHEUROPEAN – CARIBBEAN PARTNERSHIPSCAMARA DE COMERCIO Y PRODUCCIONDE SANTO DOMINGOTOSCANA PROMOZIONE Florence, Italy May 6, 2010 Milagros J. Puello Executive Vicepresident

  2. SANTO DOMINGO CHAMBEROF COMMERCE • Non-profit private sector organization, established in 1848 • Oldest business association in Dominican Republic • Oldest chamber of commerce in Latin America • Voluntary membership • Multisectoral (commerce, industry, agroindustry, agriculture, services, independent professionals) • Over 80% of members (1,215) are SMEs

  3. LEGAL FUNCTIONS • Law 50-87 establishes regime for chambers of commerce • Trade Registry – Law 3-02 - Over 70,000 registered companies • Law 173 on Distribution / Agents • Law 4582 – Conciliatory previous to Declaration of Bankruptcy • Law No. 479 -08 on Corporate Company Structure and Limited Liability Unipersonal Companies • Center for Alternative Dispute Resolution • Commercial Arbitration Law No. 489 – 08

  4. KEY OBJECTIVES(Law 50-87) • Promotedevelopmentthrough strenghtening and stability of economicactivities • Increaseprosperity in Santo Domingo Provincethroughprivatebusinessinitiatives • Contributetopublic-private dialogue • Representprivate sector interests • SubmitplanstoCongressforthedevelopment of commercial, industrial, agricultural, services and otheractivities

  5. MEMBERSHIP COMPOSITION

  6. Services Portfolio • Legal Advisory • Trade Registry • Digital Signature • Conciliation and Arbitration • Corporate Social Responsibility • Trade and Commercial Information /Services • Trade Missions & Fairs • Business Matchmaking • Economic and Social Observatory • Tailored-made Training Programmes • Projects for private sector development: • Support to SME Competitivemess • B2B HUB – Virtual Market

  7. TRADE ADVOCACY

  8. ORGANIZATIONS CREATED BY THE SANTO DOMINGO CHAMBER OF COMMERCE

  9. DOMINICAN REPUBLICAT A GLANCE (2009) • GDP: US$41,000 Million • Population (2009): 9.8 Millon • GDP Growth Rate: 3% (2000-2007: 7%) • Inflation: 7.6% • GDP by Sector: Agriculture 11.6%; Industry 25%; Services including Tourism and Transportation 62%; Minerals (non-fuel) 1.4% • Minimum Salary: US$200

  10. DOMINICAN REPUBLICAT A GLANCE • Electricity Cost : US$0.26 kw • Gasoline (gallon): US$3.60 • Exports: US$7,236 Millon • Imports: US$13,817 Millones • Remittances: US$3,200 Millones • Exchange Rate: RD$36.50 = 1US$

  11. TRADE BALANCE DOMINICAN REPUBLIC – ITALY 2005-2009 US$ Millons

  12. TRADE HIGHLIGHTS: MAIN TRADING PARTNERS(2009) • United States: 70% Exports;45%Imports • Haiti • Puerto Rico • European Union - 17% Exports;10%Imports • Holland • Spain • Belgium • United Kingdom • Germany • France • Italy

  13. MAIN PRODUCTS EXPORTED TO ITALY(2009) • Coffee • Rum • Cocoa • Leather (raw) • Pineapple • Bananas • Tobacco • Medical equipment & instruments • Shoes

  14. MAIN PRODUCTS IMPORTED FROM ITALY(2009) • Industrial machinery & equipment for metalworking and pasta industry • Pharmaceutical products • Turbines • Hair products • Kitchen furniture • Pasta • Vehicles • Tires

  15. KEY REASONS FOR INVESTING IN DOMINICAN REPUBLIC • Political and Macroeconomic Stability • Favorable Investment Climate: Foreign Investment Law 16-95; Free Zones Law 8-90 providing 100% tax exemption on IRS and imports or raw materials and finished goods; new Law on Corporate Company Structure – 479-08 • Excellent geographical location: crossroads between North and South America • Frequent transportation (more than 50 daily flights to Europe & U.S.) • Advanced telecommunications system • Preferential Access to Europe, United States, Caribbean and Central America • Skilled and easily trainable labor force

  16. WHY INVESTIN DOMINICAN REPUBLIC Gateway to Important World Markets: • Duty-Free Access to: POPULATION • United States (DR-CAFTA) 200 MM • European Union (EPA) 500 MM • Central America 31 MM • CARICOM (DR-CARICOM) 22 MM

  17. WHY INVEST IN DOMINICAN REPUBLIC • Contact Point with DOMINICAN & HISPANIC DIASPORA IN EUROPE & UNITED STATES: • Hispanic Population in U.S.A. : 46MM • Hispanic Buying Power:1.1 Trillon – 2009 • 12.4 Trillion - 2011 • 13.6 MM Homes

  18. WHY INVEST IN DOMINICAN REPUBLIC Expected Results of the Economic Partnership Agreement CARIFORUM–EU EPA: • Duty-Free Access to European markets for 99.6% of products • Economies of scale • Strategic WIN-WIN Alliances/Partnerships to enhance market share in the Caribbean, Europe, United States, Central America • PED – Promoting Economic Development through European-Caribbean Partnerships – example of WIN-WIN alliance • Technology Transfer and Innovation • Economic and institutional reforms leading to more favorable business and investment climate • Public policies aimed at promoting competitiveness, diversification of goods and services, programmes for SME development

  19. WHY INVEST INDOMINICAN REPUBLIC Expected Results of the Economic Partnership Agreement CARIFORUM-EU EPA: • Improved trade facilitation through increased transparency in customs procedures and government procurement (less burocracy and discretionality) • Strengthening of democracy, Rule of Law and good governance • Intellectual property and environmental regulations • Predictable regulatory framework • Financial and technical cooperation for implementation and benefiting from the opportunities arising from the EPA

  20. TRADE & INVESTMENTOPPORTUNITIES IN DOMINICANREPUBLIC • Agroindustry • Food & Beverage • Tourism and related services • Hotel equipment • Telecommunications • Infrastructure • Construction material • Electrical products • Water and sanitation • ICT and electronic products • Industrial machinery • Cosmetics and body care products • Pharmaceuticals

  21. ACP-EU TRADE: A Substantial Change is Needed – PED can makea Difference • Main products imported by Europe from ACP: • Petroleum 30% • Diamonds 10% • Cocoa 4.3% • Aluminium 2.3% • Wood 3.8% • Sugar 2.7% • Aluminum 2.3% • Coffee 1.9% • Tobacco 1.6% • Bananas 1.5 • Others 42%

  22. ACP-EU TRADE: A Substantial Change is Needed – PED can makea Difference • EU imports from ACP according to the level of processing: • Raw Materials - 65% • Semi-finished products - 16% • Finished products - 19% • 2005: 3% of EU imports originated from the ACP against 6.7% in 1976.

  23. ACP-EU TRADE: A Substantial Change is Needed – PED can makea Difference To Achieve: • Products and Services Diversification • High-end products (higher value-added) • International Certifications and Standards (technical, environmental) • Strategic WIN-WIN Alliances for 2 Way Trade • Increased prosperity for our respective countries • WE ARE CONFIDENT PED CAN MAKE A DIFFERENCE THROUGH ENHANCED TRADE & INVETSMENT WITH ITALY & OTHER PED PARTNERS – BELGIUM, GERMANY, GREECE, LUXEMBOURG, SPAIN

  24. Thank You For Your Attention !!! Milagros J. Puello Executive Vicepresident www.camarasantodomingo.org.do mpuello@camarasantodomingo.org.do

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