The next government, which will take office on August 16, must make it a national priority to transform the Dominican Republic into a regional logistics hub. This was the opinion of Alexander Schad, president of the Trade Facilitation Committee of the American Chamber of Commerce of the Dominican Republic (AMCHAMDR).

In Schad's opinion, the country needs to seek new forms of growth that can be achieved through international trade, as it would create new jobs, facilitate the import and export of goods, and increase the Gross Domestic Product (GDP). However, he believes it is necessary to become more competitive and review the tax rates applied to the sector.

Interviewed on the program "Dominicana es Vida" (Dominicana is Life), broadcast on En Televisión, Schad advocated for the National Congress to approve the new Customs Law, a project that has been in the works for more than 15 years and is agreed upon by all sectors.

“The current Customs law is more than 50 years old and does not adapt to what we experience in Facilitation with all the changes in technology,” He indicated by pointing out the challenges that are imposed to boost foreign trade.

On the other hand, Schad affirmed that the Dominican Republic must promote bilateral trade with its trading partners and strategically address the free trade agreements to which it is a signatory.

He proposed that the government promote the development of foreign trade so that it becomes one of the pillars of the economy, especially with the United States, our main trading partner and a country with which we have a geographical proximity that offers competitive advantages.

How is international trade in the country?

The country has met the measures set forth in the Trade Facilitation Agreement signed in Bali by 90% (TP3T), thanks to the cooperation and collaborative work of the National Trade Facilitation Committee (NTFC), which comprises 18 public and private sector entities.

Schad revealed that the CNFC's efforts have resulted in the implementation of the Single Window for Foreign Trade (VUCE), which allows for online transactions with various government agencies; extended port hours for dispatching goods after 5 p.m.; and the implementation of electronic phytosanitary regulations for port inspections.

He emphasized that the arrival of COVID-19 accelerated the process of digitizing paperwork and transactions in international trade for both the public and private sectors, reaching 90% currently.

"Before the pandemic, we had a lot of paper-based processes. There was a rapid response at both the public and private levels that got everyone on board to figure out how to eliminate all paperwork from transactions, and it was achieved in 90 minutes." said the chairman of the Trade Facilitation Committee.

When asked about the current performance of imports and exports, Schad stated that foreign trade has been key during the pandemic, as it has moved much-needed food and medicines.

The president of AMCHAMDR's Trade Facilitation Committee stated that last year, exports grew at a 101%-3% pace and imports at a 7% pace, but that this trend reversed in 2020.

"In April, May, and June of this year, exports fell by 201% in 3Q, while imports fell by 101% in 3Q specifically in April, although a rebound was already seen in July. This trend is expected to be temporary while the pandemic persists." He stated that in some areas it has decreased, while in others it has increased.

The full interview can be seen at this link:

https://www.youtube.com/watch?v=QxCOVJXduv4&feature=youtu.be