Trade with Commonwealth countries stands out, amounted to US$2,515 in 2022

The commercial exchange between the Dominican Republic and the countries that make up the Commonwealth totaled 2,515 million dollars last year, reflecting an increase compared to 2021 of about 239 million, equivalent to an increase of 10 percent. This was stated on Monday by the president of the Round Table of the Commonwealth Countries in the Dominican Republic, Fernando González Nicolás, in the act of celebrating the World Day of the Commonwealth, held at the headquarters of the Chamber of Commerce and Production of Santo Domingo. The activity was attended by ambassadors, consuls, and presidents of chambers of commerce of the nations that belong to the Commonwealth.

González Nicolás estimated that in 2023 the Commonwealth countries will continue to be, as a whole, the main foreign investors and the largest destinations for exports from the Dominican Republic. He gave as an example the commercial exchange with India in 2023 was 807 million dollars, becoming the main commercial partner among all the countries of the Commonwealth. He stated that Great Britain follows, with an exchange of 467 million, reflecting an increase of 26 percent compared to the previous year; Canada with 466 million, for an increase of 37 percent; Trinidad & Tobago, with 194 million, for a 35 percent increase; and Jamaica with 102 million, for a 15 percent increase. “The statistics confirm the strength of our country’s trade with the 54 Commonwealth countries,” said González Nicolás.

Mockbul Ali Obe, the British ambassador, who represents his majesty King Carlos III, who is the head of the Commonwealth, also took part in the act, in connection with celebrating this Monday, March 13, World Commonwealth Day. Also present at this meeting were Ramu Abbagani, Ambassador of India; Collin Holditch, Consul General of Canada, and José María Cabral, Secretary for the Board of the Commonwealth; Campos de Moya, treasurer and Marcos Peña, director, Amauris Vásquez, president of the British Chamber; Dharmendra Basita, Chairman of the Indian Chamber of Commerce, among others.

What is the Commonwealth?

It is a voluntary organization that groups 54 countries. After the Queen’s death on 8 September 2022, King Charles III became Head of the Commonwealth.  These countries have the same idiosyncrasy and the same legal and political systems. The Commonwealth contains 2.4 billion people (one-third of the world’s population), on 6 continents. It includes as members nations as large as the United Kingdom, Canada, Australia, India, South Africa, Malaysia, and territories as small as Antigua, Barbados, Malta, Mauritius, and Singapore, among others.

What is the Table of the Commonwealth in the DR?

The Round Table of the Commonwealth Countries in the Dominican Republic is an organization whose objective is to promote bilateral, economic, political, and social relations between the Commonwealth countries and the Dominican Republic. The Table is made up of diplomats from the countries that are part of this bloc and who are attached to the Dominican Republic and the presidents of the British, Canadian, Indian, Trinidad, Jamaica, Guyana, and South African bi-national chambers of commerce. In addition, multinationals in Santo Domingo that have their headquarters in a Commonwealth country are corporate associates.