Dominican Republic reaffirms commitment to regional trade at ADD Summit

Panamá.- At the 2024 Alliance for Development in Democracy (ADD) summit in Panama, the Dominican Republic emphasized its dedication to strengthening regional supply chains and fostering sustainable development. Minister of Industry, Commerce, and MSMEs, Víctor “Ito” Bisonó, led the delegation alongside Vice Minister of Free Trade Zones, Johannes Kelner.

The summit reviewed progress and set priorities for 2025, with the Dominican Republic reaffirming its role as the United States’ third-largest trading partner. Minister Bisonó highlighted the country’s commitment to integrating critical economic sectors, fostering collaboration, attracting foreign investment, and creating jobs. Key topics included improving procedures, developing human capital, and enhancing value chains in strategic industries such as medical devices and pharmaceuticals.

Bisonó also underscored the importance of the Panama Canal, which handles 5% of global trade, as a vital connection for regional economies. During a meeting with Panama Canal officials, strategies were discussed to enhance connectivity and solidify the Dominican Republic and Panama as strategic trade hubs.

Progress in 2024 and Goals for 2025

The Dominican Republic led initiatives on medical devices, focusing on talent development and regulatory alignment to boost competitiveness. Progress in pharmaceuticals, led by Panama, included advancements in regulatory practices and clinical trials. Minister Bisonó described a roadmap for 2025 that aims to generate quality jobs, attract investment, and strengthen regional cooperation, reaffirming the nation’s commitment to sustainable and inclusive growth.