Business Opportunities in the Dominican Republic

Join the U.S. Commercial Service for the first event in a multi-part webinar series, featuring USG and private sector experts presenting on business opportunities in seven markets across the Caribbean Region.

The Webinar on May 22, 2024, will focus on the Dominican Republic’s business opportunities for U.S. companies.

Why the Dominican Republic?  

• With a population of 11.2 million consumers and a GDP of $113.6 billion in 2022, the Dominican Republic (DR) is the ninth largest economy in Latin America and the largest in the Caribbean region open for commercial trade.
  
• Real GDP grew by 4.9% in 2022, illustrating the economy’s continued robust post-COVID recovery and continuing the country’s remarkable run as one of the fastest-growing Latin American countries over the last 50 years.
  
• The country has become increasingly urbanized in the last 15 years, with more than 80% of the population now living in cities. U.S. companies may find opportunities in the key economic sectors of construction, agriculture, financial services, healthcare, hospitality, transportation, and FTZ manufacturing. U.S. companies may also find opportunities in areas related to information and communication technology (ICT) and disaster preparedness.
  
• There is very high receptivity to U.S. goods and services, and U.S. product standards are generally accepted. The United States is the DR’s largest trading partner; the DR imported $13.1 billion of U.S. goods in 2023.
  
• U.S. and DR membership in CAFTA-DR has resulted in robust trade growth. Since 2007, duties on imports of U.S. products have been mostly eliminated on manufactured goods, with the remainder scheduled for elimination by 2025.

Who should attend:

Business development representatives from U.S. companies in industries such as air conditioning and refrigeration equipment, automotive parts and services, hotel and restaurant equipment, travel and tourism services, renewable and conventional energy, advanced medical equipment, sporting goods, safety and security, aerospace and defense, ICT, marine ports, consumer goods, and construction products would benefit from this event.