As part of this Thanksgiving Luncheon, AMCHAMDR recognized the Minister of Industry, Commerce, and MSMEs, Víctor Ito Bisonó, and the Director of Customs, Eduardo Sanz Lovatón, for their contributions to the country's growth.
The American Chamber of Commerce of the Dominican Republic (AMCHAMDR) held its traditional Thanksgiving luncheon, a meeting dedicated to commemorating two decades of implementation of the Dominican Republic-Central America-United States Free Trade Agreement (DR-CAFTA), an agreement that has transformed the Dominican economy and strengthened bilateral relations between the two nations.
The luncheon featured guest speakers and guests of honor, Dominican Ambassador to the United States Sonia Guzmán, and Patricia Aguilera, Chargé d'Affaires of the U.S. Embassy in the Dominican Republic, who shared their perspectives on the impact of DR-CAFTA over the past 20 years and the opportunities the agreement continues to offer for the country's economic and social development.
During her participation, Patricia Aguilera highlighted the importance of the United States as the Dominican Republic's main trading partner and how DR-CAFTA has strengthened this relationship.
Aguilera spoke about the challenges and opportunities presented by DR-CAFTA in a changing global context, including the need to continue promoting sustainability, innovation, and diversification of Dominican productive sectors. He also called for strengthening regional supply chains, fostering a favorable investment climate, and leveraging the tools the agreement offers to expand bilateral trade.
“As we give thanks for the success of our collaboration, let us remember that it is part of our commitment to support economic development at all levels of our society, and let us continue to strive to achieve that shared success based on our efforts,” Aguilera said.
For her part, Ambassador Sonia Guzmán offered a detailed overview of the DR-CAFTA negotiation process, highlighting the challenges faced by the Dominican Republic in securing favorable terms in the agreement. Guzmán emphasized the visionary leadership of then-President Hipólito Mejía during the negotiations, highlighting his firm determination to ensure that the country negotiated independently and not simply adhere to the agreement reached by Central America.
“The decision to form a negotiating team dedicated exclusively to this agreement was key. With pragmatism and strategy, we achieved conditions that reflect the specificities of our economy. DR-CAFTA has been a tool not only for trade liberalization but also for strengthening our institutions, from the creation of Proconsumidor (Consumer Protection Agency) to the reinforcement of Indotel and ONAPI. It is an example of how public policies and the resilience of the private sector can transform a nation,” Guzmán stated.
He also shared anecdotes from the negotiation process, highlighting AMCHAMDR's role in the signing and the treaty's impact on key sectors such as tourism, exports, and foreign direct investment.
Meanwhile, Edwin De los Santos, President of the Board of Directors of AMCHAMDR, highlighted: “Looking to the future, the United States, which has just elected a new government administration headed by President Donald Trump, has outlined some focal points of its agenda, which will in some way impact the trade relationship with the Dominican Republic, such as the potential establishment of tariffs by origin, the possible elimination of incentives for the production of renewable energy, the lifting of restrictions on the mass production of hydrocarbons, the relocation of supply chains, including for the production of semiconductors, among other initiatives,” he said.
“At AMCHAMDR, we have already included among our strategic objectives, with immediate attention, the task of working hand in hand with Dominican and North American authorities to redefine a proactive bilateral trade strategy and agenda that maximizes the privileged position and trustworthy partner that the Dominican Republic currently holds,” added De los Santos.
The luncheon included a panel discussion moderated by William Malamud, Executive Vice President of AMCHAMDR, who facilitated the dialogue between the two speakers. During this discussion, topics such as the progress made in these 20 years and the prospects for future opportunities for DR-CAFTA were discussed.
Furthermore, within the framework of this Thanksgiving Luncheon, AMCHAMDR recognized the Minister of Industry, Commerce and MSMEs, Víctor Ito Bisonó, and the Director of Customs, Eduardo Sanz Lovatón (represented by Daniel Peña, Deputy Director of Customs), for their significant contributions from each of their areas to the growth of the country and our organization.
This luncheon was made possible thanks to the support of the member companies of the AMCHAMDR Elite Circle: AES Dominicana, Barrick Pueblo Viejo, Cervecería Nacional Dominicana, Citi, DP World, HIT Puerto Río Haina, Grupo Humano, Inicia, Grupo Martí, Altice Dominicana, Grupo Rica, Grupo SID, Grupo Punta Cana, Grupo Estrella, Grupo Viamar and Squire Patton Boggs.
Press contacts:
Natalia Camarena, ncamarena@amcham.org.do
Xóchitl Cordero, xcordero@amcham.org.do
Oliver Balbuena, obalbuena@amcham.org.do
