NOVA MEDIA PUBLISHING INC.

Co-operation Agreements Signed Between China and Dominican Republic

23.11.2018

China has signed eighteen agreements with the Dominican Republic. They aim to significantly deepen economic relations through Chinese financial and other support and follow a decision by the Dominican Government taken in May this year to end its relations with Taiwan.

The accords which were signed in Beijing in the presence of the Dominican President Danilo Medina included Chinese support for infrastructure construction, finance, trade and investment, agriculture, education, tourism, aviation and sports. Also agreed was a Memorandum of Cooperation within China’s Economic Belt, Silk Road and Maritime Road Initiative.

It was also revealed that the Chinese President Xi Jinping plans to visit the Dominican Republic.

Among the agreements were:

* The establishment of sanitary and phytosanitary measures relating to trade in agricultural products particularly in relation to exports of cacao, and bananas among other products.

* Agricultural cooperation expected to lead to Chinese involvement in agriculture in the Dominican Republic.

On trade, Dominican enterprises are aiming to find a large consumer market for their pineapple, banana, cacao, and other high-quality Dominican products.

According to the Dominican Republic’s National Statistics Office (ONE) in 2017 China exported US$2.5bn there but imported just US$145m of goods.

During the visit to China a Dominican Embassy in Beijing was formally opened. It was also announced that three consulates would open in Shanghai, Beijing and Guangzhou.

China and the Dominican Republic officially established diplomatic relations on 1 May this year.

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