Ingresar
The Dominican Republic and India establish a Joint Economic and Trade Committee
By Guzmán Ariza, Attorneys at Law
The Union Cabinet of India, chaired by Prime Minister Shri Narendra Modi, approved the proposal for signing of a protocol for establishment of a Joint Economic and Trade Committee (JETCO) between the Department of Commerce, the Ministry of Commerce and Industry of the Republic of India and the Ministry of Foreign Affairs of the Dominican Republic.
Bilateral relations between India and the Dominican Republic have been friendly and continue to deepen in all spheres. At present, there is no bilateral institutional mechanism between India and Dominican Republic on trade and commerce. India primarily imports gold from Dominican Republic and exports pharmaceuticals, marine products, motor vehicles, two and three wheelers, among other products.
The establishment of JETCO will strengthen economic ties between India and the Dominican Republic and provide a platform for discussions, exchange of information, knowledge and ideas which would in turn facilitate trade and industry.
According to the Indian government, the Protocol "can be an effective gateway to the larger Latin American and Caribbean markets."
The Joint Committee will provide a platform for exchange of information between various authorities and their counterparts. This will help in facilitating trade of goods and services and consequentially help in better employment opportunities for professionals in both countries.
A JETCO essentially functions as a working group established by two trading partners to maximize and strengthen the economic and trade relationship between them. It facilitates discussions and initiatives across various sectors like trade, services, information technology, and industrial technologies. This fosters a platform for exploring potential areas of mutual economic benefit.
It also paves the way for future trade agreements and partnerships.
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.
With ten strategically located offices across the nation's principal business and tourism hubs, we are uniquely positioned to support clients in seizing opportunities within the largest and fastest-growing economy in Central America and the Caribbean.
Our multilingual team is well-versed in advising international clients across a broad spectrum of practice areas. In the field of intellectual property, we offer robust counsel and representation in both commercial transactions and litigation. Our services cover trademark and trade name protection, copyright and patent registration and enforcement, as well as licensing, assignments, and the transfer of IP rights.
Guzmán Ariza is globally connected through active memberships in prominent international legal networks, enabling us to effectively support cross-border matters and multinational transactions.