Economy March 4, 2015 | 8:17 am

Dominican Republic should look to powerful Pacific Alliance: Expert

Santo Domingo.- Dominican Republic has a brilliant opportunity to take advantage of the Pacific Alliance, a trade interaction group of which is now an observer, and formed by Chile, Colombia, Mexico and Peru. Together the bloc represents the world’s eighth biggest exporter and economic power, said writer and prominent international speaker Juan Pablo Prado.

As keynote speaker in a Dominico- Mexico Chamber of Commerce (CADOMMEX) conference, Prado stressed the Alliance’s population of 214 million consumers and GDP per capita of US$10,000.

“The Pacific Alliance seeks to drive further growth, development and competitiveness of the economies of member countries and contribute to increase trade among themselves and with others, helping them progressively towards the free movement of goods, services, capital and people,” the expert said.

According to Prado, as the economic and political interaction in Latin America and the Caribbean increases, “the Pacific Alliance is an innovative alternative to prone countries leaning toward linking with emerging economies seeking to better position themselves in international economic relation. "

"It is a platform for political, economic, trade and joint projection into the world with a clear focus on the Asia-Pacific region, the engine of world trade in the 21st century," Prado said.

Speaking with Dominican Toady before his dissertation, Prado stressed the Alliance’s advantages in economic negotiations for the Dominican Republic, which is currently an observer in the bloc. “For this country it’s an advantage to be able to negotiate from the position of strength which the Alliance provides. It’s always better to negotiate as a block.”

Lat-Am leader

Chamber director Marco Antonio Sanchez said in Latin America and the Caribbean, the Pacific Alliance accounts for 37% of GDP, 50% of total trade and attracts 45% of direct foreign investment.

He also agreed with Prado’s assertion that the country should take advantage of that space for trade interaction to boost its export capacity, reach new markets, attract investment and gather experiences to increase competitiveness.

Business leaders and government officials attended the conference held in the Hotel Embajador, which forms part of the annual program sponsored by CADOMMEX, whose president is Carlos E. Gonzalez.

Juan Pablo Prado

Born in Mexico, Juan Pablo Prado earned a BA in International Relations at Mexico’s UNAM University; and a PhD and an MA in International Relations in Spain’s UCM University.

He’s an international consultant for world organizations and governments of several countries, including Mexico’s Foreign Affairs Ministry.

CADOMMEX

The Dominico-Mexico Chamber of Commerce was founded 13 ago to bring major Mexican investment companies in the Dominican Republic. It promotes, develops and promotes Dominican Republic-Mexico trade and other ties.

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