Santo Domingo.- The Dominican Republic and India have signed a protocol for economic and commercial cooperation to promote cooperation in various initiatives in the fields of trade, services, information and technology, the Dominican Ministry of Foreign Affairs said in a statement on Tuesday.
Signed by Dominican Foreign Minister Roberto Alvarez and Indian Ambassador to Santo Domingo, Ramu Appagani, the agreement represents a significant milestone in bilateral relations between the two countries and creates the Joint Committee on Economic and Trade Cooperation (JETCO). .
The committee will be run by senior officials from both countries and will meet annually to oversee the implementation of the protocol and explore new opportunities for cooperation.
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Alvarez highlighted that from 2018 to 2023, the Dominican Republic has maintained a generally positive balance of trade with India, which is very encouraging.
With this protocol, the Dominican government is laying the groundwork for Indian companies to establish themselves in the country or establish strategic alliances with Dominican companies, he said.
On his part, Indian Ambassador to the country Ramu Appakani highlighted the importance of strengthening economic and trade ties between the two countries. He opined that the signing of the agreement will create more interest for Indian businessmen and investors to see the Dominican Republic as a great opportunity, as well as Dominican companies in India.
The agreement is part of axis number two of Dominican foreign policy, which includes promoting exports and attracting foreign investment to create more jobs, according to a Foreign Ministry statement.
Diplomatic relations between India and the Dominican Republic were established in 1999.
