Santo Domingo Chamber of Commerce

June 24, 2003 8:00am – 11:00am

Waldorf Astoria Hotel, New York, NY

Hardly typical of a slowing economy, the Santo Dominican Chamber of Commerce is working diligently with its US partner to enhance

a variety of areas, as I noted from the most welcomed meeting between the Greater New York Chamber of Commerce and the Santo Dominican Chamber of Commerce. New York has over half a million people, and the Santo Dominican Chamber of Commerce, not to mention the Government of the Dominican Republic, are well aware of this. The U.S. Government is equally enthusiastic about doing business with the Dominican Republic as well as several of its Latino neighbors—Costa Rica, Nicaragua, Honduras, Guatemala, El Salvedor and, of course, the Santo Domingo—under the Central American Free Trade Agreement (CAFTA).

The most impressive areas of trade in recent years were tourism, construction, electricity, transportation, trade, manufacturing and agriculture. I also learned that the Dominican Republic is the fifth largest importer of U.S. Goods in the hemisphere—I found this to be very impressive. Additionally, I was also very happy to learn that the Dominican Republic has lowered its tariffs on certain more heavily traded items, like equipment (0%), raw materials (3%) and semi-manufactured goods (14%).

There is no doubt that the U.S. is eagerly working with its Latino neighbors in helping to encourage free trade. “If we in our part of the world, and all of the Americans from Anchorage Alaska down to Chile build the trust that we are starting to build and will continue to build, we’re all going to prosper, and we are all going to realize the benefits of free trade.” said Mark Jaffe, the Executive Director of the Greater New York Chamber of Commerce and the Honored Guest speaker.

Jose Manuel Armanteros, the President of the Santo Dominican Chamber of Commerce, expressed his enthusiasm for enhance trade relations between the Dominical Republic and the U.S. in his opening remark, “It is a great honor for the Santo Dominican Chamber of Commerce, and for me in particular to be here today with a group of prominent business men and women from the Domican Republic seeking to enhance business and investment relations with the business community of the most vibrant and cultural city, of New York.”

Melagros Puello, the Executive Director of the Santo Dominican Chamber of Commerce, did a wonderful slide presentation depicting how the Dominican Republic is rapidly becoming a “force to be reckoned with”, insofar as trade relations are concerned, through the world.

After a marvelous speech by Mr. Mark Jaffa, Executive Director of the Greater New York Chamber of Commerce, Jose Manuel Armenteros, President of the Santo Dominican Chamber of Commerce, Melagros Puello, the Executive Director of the Santo Dominican Chamber of Commerce, and other respected businessmen from the telecommunications industry, hotel industry, and [the fastest growing business], shrimp farming, was a Q & A session where the general public and the business people were given the opportunity to ask questions. Juan Del Toro, Chairman of JT Telecom Corporation, asked the President of the Santo Dominican Chamber of Commerce, how he can be of assistance to the Santo Dominican Chamber of Commerce via his business. The answer he received impressed him to the point that he was very excited and sat down with the President of the Santo Dominican Chamber of Commerce, to start an open dialog about Juan opening up a business there. When asked by the Liberty News Online if he was interested in doing business with the Santo Dominican Chamber of Commerce, he replied, with a big smile “I am very convinced here today. I like what I see, and I like what I hear.”

That evening, from 6:00pm to 8:00pm, was a gathering of prominent business people from Wall Street, the Telecommunications industry, the Financial industry, and many more, for the purpose of making investments and tapping into these various respective markets.

If you are interested in learning more about doing business in Central America, any countries which are part of the CAFTA agreement or the Santo Dominican Chamber of Commerce (which does not yet have any New York offices), please feel free to contact the Greater New York Chamber of Commerce (which is currently the U.S. Representative for the Santo Dominican Chamber of Commerce.), via email, at camara.sto.dgo@codetel.net.do Ask to speak to Mr. Mark Jaffa, Executive Director, visit their website, at www.chamber.com.

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