Dominican Republic must strengthen ties with key energy transition countries, says expert
Guillermo Koutoudjian, economist and former director of Olade. Duany Nuñez.
China, Congo, Bolivia, and Chile, among others, are countries the DR should target for partnerships.
The Dominican Republic should strengthen diplomatic relations with key countries for the energy transition, i.e., those with more technology and critical minerals or raw materials used to produce renewable energies.
The world is changing, and there is a transition where hydrocarbons are gradually beginning to cease to be essential and are replaced by clean energy. Therefore, relations between countries change, and so do strategic trade ties.
This was stated by Guillermo Koutoudjian, economist and former director of Integration, Access, and Energy Security of the Latin American Energy Organization (Olade).
He pointed out that those countries that have made a cult or highlighted hydrocarbons in their economy start to lose relations, and other countries and regions start to become critical, those that have these new and clean energy resources.
In other words, countries such as Russia, the Middle East, and Venezuela are beginning to lose importance. European countries, progressing in their energy transition and having state-of-the-art technology, are becoming vital for relations. And also with Latin American and African countries with minerals used to manufacture technology to generate solar, wind, hydroelectric, and biomass energy.
He cited China, Congo, Bolivia, and Chile, among others, which have reasonable reserves of minerals such as lithium, bauxite, cobalt, graphite, zinc, and ammolite, among others such as rare earths, which are used in the manufacture of technology.
Koutoudjian urged the DR to create diplomatic alliances with these countries and partner with them without neglecting the other hydrocarbon-producing countries.
The expert offered these details during the “Energy policy and foreign action” conference organized by the Ministry of Energy and Mines (MEM).
Koutoudjian stated that diplomats and officials with a role in international agencies or organizations play an essential role in the so-called “Energy Diplomacy” to manage these relations between countries.