Economy April 28, 2016 | 4:41 pm

Entities agree to boost Dominican Republic’s oil exploration, mining

Santo Domingo.- The binational chambers of commerce groupedin the Roundtable of Commonwealth Countries in the Dominican Republic and DominicanRepublic’s Oil and Mining Chamber (CAMIPE), on Thursday agreed to coordinateefforts to maximize business opportunities in mining, oil and gas, between the countryand Commonwealth nations.

Commonwealth countries operate the world’s major mines andoil exploration and production, while Dominican Republic mining has become themain foreign exchange earner and source of government revenue. The country has alsolaunched an unprecedented oil and gas exploration process.

Commonwealth Roundtable president Fernando Gonzalez Nicolasand Mining Petroleum Chamber president José Sena signed the agreement in thepresence of ambassadors Chris Campbell of Great Britain, and Steve Coté ofCanada.

The agreement was also signed by British Chamber ofCommerce president Jose Rodriguez, India Chamber of Commerce president JabarSingh, Society of Friends of South Africa president Norman de Castro, and Trinidadvice consul Federico Reyes.

Gonzalez Nicolas said Dominican Republic’s oil and gas explorationis at the ready, whereas Sena called mining the mainstay of the Dominicaneconomy.

Ambassadors

Campbell said global oil companies seek opportunities andthe Dominican Republic can be a destination/

Coté said Canada is home to some of the world’s major oil andgas companies.

The Roundtable of Commonwealth Countries in the DominicanRepublic promotes bilateral, economic, social and political ties between theDominican Republic and the 53 Commonwealth countries, while the Oil and Mining Chamberseeks to develop Dominican Republic’s oil-mining sector and brings togetherdomestic mining and oil companies.

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