Ingresar
Agreement to Drive Inclusive International Trade
By Leandro Corral, lcorral@drlawyer
The Ministry of Industry, Commerce and Micro, Small and Medium Enterprises (MSMEs) of the Dominican Republic officialy launched an ambitious trade facilitation programme to increase small business participation in export trade.
Government and the local private sector stakeholders signed the Memorandum of Understanding with the Global Alliance for Trade Facilitation, an international not-for-profit entity working with developing countries to deliver inclusive trade reforms by bringing together governments and businesses of all sizes as equal partners.
The project in the Dominican Republic will empower small businesses, particularly those owned and led by women, to capitalise on nearshoring and global export market opportunities.
The launch of the project, entitled ‘Driving Inclusive Trade’, took place on December 12, 2023, at the headquarters of the government agency responsible for promoting international trade and Foreign Direct Investment (ProDominicana).
This project aims to improve national competitiveness, while also contributing to gender and economic equity – both core objectives of the government and the Alliance.
The project will concentrate on three main workstreams:
-Catalysing and strengthening business linkages between local MSMEs and exporting multinationals operating from the country’s Free Trade Zones.
-Supporting MSMEs to obtain simplified Advanced Economic Operator certification, enabling faster customs clearance and 24/7 customs support.
-Developing workshops for MSMEs to take advantage of nearshoring opportunities and facilitate their integration into global value chains.
The Alliance project, which is scheduled for completion in early-2025, will be implemented in collaboration with local institutions.
Guzmán Ariza, Attorneys at Law
Guzmán Ariza is a leading full-service law firm in the Dominican Republic, consistently ranked among the country’s top-tier firms by the most prominent global legal directories such as Chambers and Partners and The Legal 500.
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