The Dominican Republic (DR) is one of largest economies in the region and holds considerable medium and long-term potential. The service industry represents the primary sector of the economy, largely represented by tourism. Although Canada does not have a free trade agreement (FTA) with the DR and a number of Canadian firms are facing growing competition from countries with an FTA, there continues to be opportunities. Canada is one of the largest investors in the country in the mining, financial services and manufacturing sectors. The Government is exploring broader energy sources to reduce the vulnerability to oil prices and to improve efficiencies. Reform of the energy sector would significantly improve the country’s competitiveness. In recent years the DR has experienced significantly better growth than the contractions seen in other markets. However, growth has decelerated, with a forecast of roughly 2% for 2013, but is expected to increase to 3-4% in 2014 and 5% in the long-term.
- Construction & Infrastructure
- Mining & Metals
How we can support your business
Through our Head Office operations in Ottawa, we provide support to Canadian companies planning on or currently doing business in the Dominican Republic. Our market experts have developed strategic relationships with major buyers in several sectors as well as a network of local contacts in the market.
- We are well positioned to help Canadian companies through a range of financing and risk management services.
- Learn more about our service offering.