Dominican Republic stands out at Foodex 2024

Japan.- The Export and Investment Center of the Dominican Republic (ProDominicana) showcased a notable presence at Foodex 2024, Japan’s premier international food and beverage fair.

Biviana Riveiro Disla, Executive Director of ProDominicana, emphasized the significance of agroindustrial producers from the Dominican Republic entering Asian markets as a crucial component of the country’s export diversification strategy.

Participation in this international fair underscores the ongoing commitment of the Dominican government to foster the development and promotion of key economic sectors, with the overarching goal of diversifying exports and fostering sustainable economic growth.

Riveiro shared that in recent years, the Japanese market has emerged as a vital destination for Dominican exports, reaching a sum of USD$176.7 million for the period 2020-2023. This represents a remarkable accumulated growth of 165.32% compared to the period 2016-2019, driven by the diversification of the exportable supply, particularly in cocoa beans, medical instruments and devices, medical devices, and ferronickel.

The trade exchange between the Dominican Republic and Japan for the annual period 2020-2023 reached USD$1,723.9 million, indicating a 10% growth compared to the 2016-2019 period.

During the mission, Marcial Smester, the Investment Director of ProDominicana, engaged in various meetings, notably with executives from Toyota Tsusho Corporation, exploring opportunities in vehicle manufacturing and the energy sector, specifically renewable energy. Meetings with executives from Mitsubishi Corporation also took place, covering diverse areas including manufacturing, energy, and infrastructure projects.

A noteworthy part of the delegation’s visit was to the Dominican Embassy in Japan, coordinated by Ambassador Robert Takata. The Dominican Embassy organized an investment seminar, presenting investment opportunities in the Dominican Republic, along with the launch of the Dominican Republic Investment Guide in Japanese.

The delegation delved into discussions on significant topics such as mass mobility projects and infrastructure through public-private alliances (PPP). Meetings with ProDominicana’s counterpart agency in Japan, JETRO, were also conducted to explore collaboration and discuss the signing of a memorandum of understanding (MOU) between the parties.

Furthermore, the delegation met with The Japan Chamber of Commerce and Industry and The Tokyo Chamber of Commerce and Industry, presenting the benefits and investment opportunities that the Dominican Republic can offer to their members, which constitute the majority of companies in Japan, with a membership base of 3.8 million.