Japan can use Dominican Republic to enter the U.S. market
Dominican Today, Dominican Republic
Japan can use Dominican Republic to enter the U.S. market
3 July 2006
TOKYO.- Dominican president Leonel Fernandez today presented his country as a "springboard" for Japanese products to enter the United States duty free.
In the first day of his official visit to Tokyo, the Caribbean chief executive headed a seminar in the Japanese Foreign Trade Organization (JETRO), to explain to Japanese business leaders Dominican Republic’s commercial the strategic value.
"Japan is being offered the ability of having an ally in the other side of the planet that is going to have duty free access to the main markets of the world," affirmed the Dominican president, alluded directly to the Free Trade Agreement that he has with the United States and Central America (DR-CAFTA), which despite not taking effect as foreseen on last July 1, is still pending.
Fernandez also pointed out that the Dominican Republic is negotiating trade agreements with the European Union and the Caribbean Community (CARICOM).
"This it is the new world that is being opened and in which a country that before did not play any role in Japan’s strategic planning now can in fact be fundamental in the economic future of this world power," he said.
However, Fernandez recognized that with Japan "everything needs to be done," because only two Japanese companies have investments in his country: the textiles firm Wacoal Saradona Manufacturing, and the sports articles Hiroshima Toyo Carp.
Dominican exports to Japan in 2005 reached a mere 37.6 million dollars, while it imports some US$341 million.
The Dominican chief executive -accompanied in the seminar by several officials in his Administration- was received together with his delegation by Japanese prime minister Junichiro Koizumi, in his residence.
"The encounter was very warm, very friendly; during the same, we have explained to the prime minister the Dominican Republic’s interest in fortifying the diplomatic ties and at the same time in promoting investments and trade between both countries," Fernandez said.
He said that in the meeting he reiterated his country’s support for Japan’s aspirations of becoming a permanent member of the UN Security Council.
In the morning, Fernandez visited the facilities of the two giant Japanese electronics companies, NEC and Mitsubishi, and had lunch with Yoshinori Ohno, member of Parliament and president of the inter-parliamentary alliance Friends of Japan and the Dominican Republic.
The Dominican president and the first lady Margarita Cedeño will be received tomorrow by Japan’s emperors in the Imperial Palace.
This will be the last official ceremony of the presidential visit to Japan, which the National Palace had described as a tour to promote investments in Dominican Republic, and also included stops in the United States, Taiwan and South Korea.
