Dominican Republic and Pennsylvania

President Leonel Fernandez Reyna, of Dominican Republic, and Pennsylvania Governor Edward G. Rendell have agreed to explore the possibility of exchanges and cooperation in the areas of agriculture, education, energy, trade and investment. The agreement seeks to make the most of the benefits of DR-CAFTA. It began immediately with the arrival in Santo Domingo of a delegation from Pennsylvania.Governor Rendell, after meeting with Fernandez at the Presidential Palace, said that the opportunity is valuable and timely because both sides can benefit. Rendell commented that Pennsylvania is home to a growing Dominican community. Dominican Ambassador to the United States, Hon. Flavio Dario Espinal, coordinatorof the Pennsylvania-DR task force, had already commented, after the meeting, that a Pennsylvania trade mission would visit Dominican Republic to explore and prepare recommendations.

                                           

President Leonel Fernandez Reyna                                               Pennsylvania Governor Edward
        of Dominican Republic.                                                                       G. Rendell.



Foreign Investment in Dominican Republic

Dominican Republic is the principal recipient of direct foreign investment in the Caribbean and Central America and DR-CAFTA could consolidate that position. These data come from the Domican Republic Ministry of Economy, Planning, and Development, which says that between 1996-2000 and 2000-2005, the country surpassed Costa Rica and Trinidad as the highest recipient of DFI. The report points out that for every US$2 entering Central America, US$1 enters the Dominican Republic and the country receives one of every three dollars that enter the Caribbean. Between 2000 and 2005 the Domican State averaged US$916 million in DFI. According to the report, the implementation of DR-CAFTA this year makes the Nation an even more attractive place to invest.

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