Posted by: Anni Orekh | July 22, 2011

Dominican Rep. producers squander the Caribbean market’s potencial

Santo Domingo.- Dominican Republic’s production is enough to take greater advantage of the Caribbean islands market and its potential to develop the important exports the region strongly demands.

Dominican Agribusiness Board (JAD) executive vice president Osmar Benítez made the affirmation Monday, but noted that the only problem is the lack of an efficient maritime link . “The sea link with the neighbors is till an obstacle to the growth of fruit and vegetable exports to markets such as the Turks and Caicos, where the demand surpasses US$1.0billion per year, and the distance isn’t more than 90 nautical miles.”

Quoted by listin.com.do, the business leader said despite Dominican exports to Caribbean Community  (Caricom) countries have grown more than 6% in the last five years, the market of the country’s neighbors has high potential for its products. “The potential is enormous. The Caribbean has an unsatisfied market which it fills with products from the United States, Canada or Europe, when we’re the closest and can easily supply those markets.”

For Industry and Commerce minister Manuel Garcia, in addition to Dominican Republic’s around US$600 million income from the sale  of mattresses, cement, rebar, limestone, sinks, fertilizers and PVC pipes to Caribbean nations, the country could boost exports by the millions if it adopts plans to take more advantage of the region’s high food demand.

Benítez, who spoke in the 1st Caricom-Dominican Republic -Spain Business Forum in the hotel Jaragua, added that the European Union has already funded a study to evaluate the feasibility of a merchant marine to link the entire Caricommarketplace. “The Caribbean is there. It’s a market of more than 15 million people and we’re here with the region’s richest and most fertile territories. There’s a lack strategy and political will.”

Original from Dominican Today.

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