ANKARA

Despite their geographical distance, Türkiye and the Dominican Republic offer each other immense economic opportunities, according to the head of the Caribbean country’s top foreign trade body.

“We see a lot of potential in many sectors, particularly free trade zones, tourism, real estate, and technology,” Biviana Riveiro, executive director of the Export and Investment Center of the Dominican Republic (ProDominicana), told Anadolu Agency.

Riveiro, who is on a visit to Türkiye to bolster investment and trade ties, said she discussed potential cooperation in various fields with officials from top Turkish trade organizations in Istanbul, Bursa, and the capital Ankara.

The Dominican Republic stands second among Caribbean nations in terms of Turkish foreign direct investment, she said.

“If we see the trade volume, you will notice that the Dominican Republic, even though it is a small island in the Caribbean, is fifth among Türkiye’s partners in the region, just behind much bigger countries such as Brazil, Mexico, or Peru,” she said.

Bilateral economic relations received a welcome boost when the two countries upgraded diplomatic ties to the ambassadorial level, she said.

Türkiye opened an embassy in the Dominican Republic’s capital Santo Domingo in 2017, while the Caribbean nation inaugurated its embassy in Ankara in 2019.

Riveiro said officials from the two countries are working on an agreement “for the protection of investments,” adding that bilateral trade volume is expected to reach $400 million in 2022.

Hub of Caribbean

Riveiro said the Dominican Republic has one of the most thriving economies in the region, with massive growth seen in the past five decades.

The Dominican Republic’s direct connection with dozens of islands makes it “the hub of the Caribbean,” she said.

She said the country has great conditions for investment, including developed infrastructure in technology, telecommunications, and transportation, as well as macroeconomic, political, and legal stability.

The Dominican Republic’s growth rate was 12% “in the middle of pandemic” last year, while projections for 2022 are close to this figure, she added.

Post-pandemic recovery

Tourism is booming in the Dominican Republic after the lull caused by the COVID-19 pandemic, said Riveiro.

More visitors have come to our country so far in 2022 than all of 2019, she added.

She said the World Tourism Organization recognized the Dominican Republic as the first country in the world to fully recover from the pandemic.

As part of efforts to further boost tourism, the Dominican Republic is making efforts to encourage airlines to fly directly to the country, she said.

“The tourist flow to Dominican Republic will increase a lot for sure if we have more direct flights,” she said.

Türkiye has also signed a tourism cooperation agreement with the Dominican Republic, a deal that was inked during Foreign Minister Mevlut Cavusoglu’s visit to the country in February 2017.

Survivor Türkiye, the Turkish version of the popular reality TV show, has the Dominican Republic as one of its shooting locations.

“What you see in Survivor is only a small part of the beauty of the Dominican Republic,” said Riveiro.​​​​​​​