Market Investigation in the Dominican Republic
Visit to the Dominican Republic to establish new business relationships between Austrian and Dominican Entreprises
On the occasion of the market investigation trip made to the Dominican Republic in midst March, 2010, the Austrian Trade Commissioner in Caracas was able to find new successful potential partners for nine Austrian companies. The Dominican businesses and institutions appeared to be very interested in the Austrian technology presented in the different areas, such as: alternative energy extraction, recycling and garbage processing, innovative plastic products, as well as the production of plastic goods. Bilateral negotiations which shall hopefully become fruitful commercial relations in the future were already initiated in this early stage.
The first meeting of the Austrian-Dominican Business Circle for the year 2010 took place in this visit as well. This event has continuously developed since it was first established in 2008, and its quarterly meetings are also popular within institutional and political circles.
Our director for the Caribbean, Gertraud Lindorfer, was able to refer to the export activities as well as the bilateral commercial relations with the Dominican Republic in a lecture to which the CEI-RD (Center for Export and Investment) invited many interested business drivers.
As a follow-up to our Austrian Showcase in November, 2009, a second meeting was made with the president of the “Comisión Nacional de Energía” (National Energy Commission) Enrique Ramírez. The state secretary Ramírez accepted all critics made to the inadequate implementation of law 57-04, which shall promote the use of renewable energy sources, explaining that the CNE is well aware of this law’s limitations. However, he ensured that the commission is already preparing an amendment, which shall be published in fall, 2010. This amendment shall consider the quick developments within this sector, as well as the application of tariffs for photovoltaic energy.
All in all, the visit was considered as a very positive signal in particular in institutional and political fields, where an ongoing, positive cooperation with the Austrian economy is expected. Dominican businesspeople are interested in machine construction, for this reason, a market study about the Dominican market shall be made for fall, 2010.
