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  HOME | Caribbean

China Sees Enormous Prospects in Dominican Republic for Trade, Investment

SANTO DOMINGO – The establishing of diplomatic relations between the Dominican Republic and China opens excellent prospects for both trade and investment, which is why a possible meeting in Beijing of Dominican President Danilo Medina with his Chinese counterpart Xi Jinping is currently being prepared.

That was revealed in an interview with EFE by the Asian nation’s trade representative in Santo Domingo, Fu Xinrong, for whom the establishment of diplomatic ties “is a great development whose results won’t be long in coming.”

With regard to Medina’s state visit, she said that “we’re getting ready for it.”

The bilateral ties imply “benefits for both countries, and not just for this generation but also for future generations,” Fu said, adding that his country is the world’s second largest economy, while the Dominican Republic plays a strategic role for its geographic location and stability.

Though these countries had no diplomatic relations up to last April 30, trade between the two is worth some $2 million starting immediately, according to the Chinese official, because economic and trade opportunities are “far greater than before.”

“From this moment on, Chinese investors will be coming here with a lot more interest thanks to the guarantees of diplomatic relations,” she said in the interview.

Nine Chinese companies are currently operating in the Dominican Republic in such areas as mining, infrastructure and manufacturing, while another three are in the process of getting established, which signifies new investments worth $800 million, according to Fu.

Meanwhile, a high official at the US State Department, who preferred to remain anonymous, told EFE this week that China’s accord with the Dominican Republic “will do nothing for regional stability.”

About that statement, the Chinese trade representative in the Caribbean country said “it has no basis in fact,” adding that the United States is the one that “has invaded other nations, not China.”

 

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