The Dominican Republic is a crucial partner for the U.S. in hemispheric affairs, due to its position as the second-largest economy in the Caribbean, after Cuba, and the third-largest country by population, behind Cuba and Haiti. The U.S. is its primary trading partner.
Additionally, the Dominican Republic is home to Pueblo Viejo, one of the world’s largest gold mines, and serves as a major global supplier of ferronickel, used for making stainless steel.
The Dominican Republic and the United States, along with five Central American countries, are parties to the Dominican Republic-Central America Free Trade Agreement, known as CAFTA-DR. This agreement enhances economic opportunities by eliminating tariffs, opening markets, reducing barriers to services and promoting transparency.
The U.S. Agency for International Development is investing more than $9.5 million to strengthen the Dominican Republic’s existing justice system and to reduce crime and violence.
Blinken also announced on Friday “the first phase of a supply chain investment through USAID, an initial $3 million that will help the Dominican government improve its workforce training, build industrial parks, attract high-tech industries here to the Dominican Republic.”
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Publish date : 2024-09-06 09:40:00
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