Dominican Republic should bolster ties with China, report says

Santo Domingo.- "The Economic Outlook 2016” report byseveral multilateral agencies recommends to the region’s countries, including DominicanRepublic, enhance and deepen their rapprochement with China."

Economy minister Temistocles Montas made the announcement duringa National Palace meeting to discuss the report, with China Commercial Office representativein the country, Gao Shoujian and international consultant Boris Segura.

The report was prepared by the Organization for EconomicCo-operation and Development (OECD), the UN Economic Commission for LatinAmerica and the Caribbean (ECLAC) and the Development Bank of Latin America(CAF).

The OECD groups 34 nations, including Germany, Austria,Australia, Belgium, Canada, USA, France, UK, Italy, Japan and Mexico, amongothers, representing 80% of world GDP and 70% of the market worldwide.

The report released Tuesday to mark the Economy Ministry’s 10thanniversary, analyzes China’s role in Latin America in the process of shiftingthe global wealth from rich countries grouped in the OECD to those nations withemerging economies such as China.

Montas said the study analyzes the growing trade linksbetween China, Latin America and the Caribbean, and trends in the ties betweenthe region and the Asian giant.

"The Development Center of the OECD, ECLAC and CAF,expects their contributions will contribute to the understanding of LatinAmerica and the Caribbean of the opportunities and future challenges of therelationship with China, to adopt reforms that stimulate inclusive growth inthe most unequal region in the world and build a mutually beneficialpartnership with China," the official said.