Monitoring Desk,29-Apr;External Affairs Minister S. Jaishankar said the trade turnover between India and the Dominican Republic has reached almost one billion US dollar. Addressing the India-Dominican Republic Business Event in the Dominican Republic yesterday, Jaishankar added that a lot of trade is done in pharmaceuticals, marine, gold, and paper products.
He also noted that there are a few Indian companies that have already established offices in the Dominican Republic. Jaishankar also said there are some of India’s big automobile dealers, and two-wheeler dealers have local dealers in the Dominican Republic.
On the agreement signed between India and Dominican Republic, the External Affairs Minister said the two countries concluded talks on a joint economic and trade cooperation (JETCO) mechanism. He further stated that the agreement is in its final stages of approval and is expected to be finalised soon.
He also hoped that JETCO will, in many ways, become a platform for regular meetings, addressing economic and business cooperation opportunities between India and the Dominican Republic. Jaishankar also touched on his meeting with the President of the Dominican Republic, Luis Abinader, saying the discussions centred on promoting business between the two countries. Earlier, yesterday, Jaishankar arrived in Santo Domingo, Dominican Republic for his first official visit to the country.
