British Chamber seminar mulls UK-Dominican ties post-Brexit

Santo Domingo.- The British Chamber of Commerce (BRITCHAM) on Tuesday analyzed the potential political, tradeand investment implications the twocountries in the heels of the United Kingdom’s eventual departure from theEuropean Union.

Speaking in the business forum "A new chapter inhistory: Relationship between the Dominican Republic and the United Kingdomafter Brexit," BRITCHAM executive director Francesca Ortiz said theinitiative is a platform to promote, facilitate and increase bilateral tradebetween the two countries by promoting spaces for dialogue that allow insightinto the diplomatic, legal and economic implications of the UK’s decision.

For BRITCHAM president Jose A. Rodriguez, despite financialmarkets’ recovery after the Brexit, “this doesn’t mean that uncertainty hasvanished, “there’re still many unanswered questions,” adding that the Chamber’sseminar, “seeks to clarify many of the concerns.”

Ambassador Campbell

UK ambassador Chris Campbell noted however that the post-Brexitimpact on the Dominican economy won’t be immediately seen. "Getting out ofthe European Union now gives us the opportunity to forge a new role forourselves in the world, to negotiate our own trade agreements and be a positiveand powerful force for free trade. Throughout the world, we will increase ourtrade: promoting the UK as a place to do business and trade with; motoringdomestic investment, and, eventually, negotiation of trade agreements."

Trade

Dominican Republic Export and Investment Center directorJean Alain Rodriguez said his agency is preparing, along with other officialentities, to develop and support bilateral trade relations.

"We’re prepared for even the worst scenario. That’swhy we’re evaluating potential new markets and supporting the private sector inthe search for substitutes markets. This is the first of several preventivemeasures taken by the Government, through the CEI-RD, to avert that the so-called"Brexit’ affects the Dominican economy," the Dominican official said inthe event attended by prominent economists and analysts.