Santo Domingo, RD.- The Chamber of Commerce of Jamaica in the Dominican Republic (JAMCHAMDR), made the presentation of its newly formed association, an initiative of several Dominican companies with operations in the neighboring island, as well as Jamaican companies with operations in the country.
This project is the result of the support and work carried out by the Extraordinary and Plenipotentiary Ambassador of the Dominican Republic in Jamaica, Angie Martínez, together with a group of international companies. The chamber will be led by Engineer Juan José Melo, Chief Country Officer of JMMB Dominican Republic.
The organization seeks to promote and facilitate bilateral commercial, economic and political relations between Jamaica and the Dominican Republic, also becoming promoters of the culture of both countries. Similarly, it will manage the identification of economic sectors and business opportunities between the two islands.
The Dominican Ambassador to Jamaica, Angie Martínez, assured:
“This initiative strengthens trade and investment in both countries, creating more jobs, more growth opportunities, and most importantly, greater well-being for both peoples.
With the inauguration of this chamber, an institution is made available whose purpose is to continue strengthening the excellent commercial ties that unite the Dominican Republic and Jamaica, constituting a space for collaboration and support between companies, so that they can share experiences and learnings. and to use this platform in the promotion of new business opportunities, deepening and expansion of the existing ones and propitiate greater investments between both nations ”.
Jamaica is the third most important destination for our country’s exports in the Caribbean region
Only surpassed by Haiti and Puerto Rico, this represents 5.06% of total exports to the region, which indicates that there is an important growth opportunity for products in this market, an opportunity with which the Chamber of Commerce intends to open the door for the mutual benefit of both nations.
“Today we celebrate that we are taking a firm step towards achieving our objectives of increasing and facilitating business opportunities, and promoting cultural exchange between both nations, generating economic and social benefits for the two peoples and the Caribbean region,” he said. Engineer Juan José Melo. In the same order, he revealed that the Dominican Republic has a significant trade surplus with Jamaica, where imports from this country amounted to 3 million dollars, in which fuels and food represent more than 60% of the total, showing that there is a great growth opportunity for its products in the country.
The president of the Chamber reported during his launch speech the following aspect: “At the end of 2020, according to preliminary figures from the Central Bank of the Dominican Republic, our exports to Jamaica amounted to USD 75.7 million, standing out as the main items: the plastics that represent approximately 30%, as well as the paper, diverse foods and the cement with 15% each one, according to the preliminary figures of the General Directorate of Customs ”.
In the current economic context of increased prices for freight and raw materials, the proximity between the two countries becomes an additional attraction for commercial exchange, facilitating greater competitiveness of local products in our respective markets.
The Board of Directors is made up of Juan José Melo (president) representative of JMMB Dominican Republic; Benjamín Valdez (vice president) rep. Jamaica Producers Group; José M. Vega (treasurer) rep. Gerdau-Metaldom; José Quiroz (secretary) rep. Quiroz Advisors, QA Legal, S.RL; Fernando González (member) rep. Round Table Countries of the Commonwealth in the Dominican Republic; Bela Szabo (vocal) rep. GB Energy Jamaica and Hugo Pérez (member) rep. Therrestra.
Among the founding and managing companies of this initiative were: JMMB República Dominicana, Jamaica Producers Group ,; Round Table Countries of the Commonwealth in the Dominican Republic; Quiroz Advisors, QA Legal, S.RL; CODELPA, Therrestra, Gerdau-Metaldom, Domicen, Magna Motors, GB ENERGY Texaco DR, Interenergy, Intercaribbean Airways, VFS, Ravi Caribe, APH abogados, Fersan,, APH Abogados, NTD Ingredientes, CIEF, Trinidad and Tobago Chamber of Commerce, Embassy Jamaica, Prodominicana, ADOEXPO, IQTEK Solutions and ANJE.