The president of the Dominican Association of Exporters, Luis Concepción, said that Dominican exports went from US$ 6,816 million to US$ 10,908 million between 2010 and 2018, meaning a 60% growth which translates into a growth of US$ 4,092 million.
He added that the impact of exports on the Gross Domestic Product (GDP) for the Dominican Republic has been decreasing since 2013/14, when it reached its highest level in recent years. While the exports/GDP ratio was 15% in 2014, by 2017 it had dropped to 13.4%.
«We need to analyze the reasons for this behavior and define strategies to increase our exports´ impact on GDP, so we can get back on track to increasing our share in the global market,» said Luis Concepción while speaking at the XXXIII Dominican Exporters´ Gala Supper and Exporting Excellence Awards.
He pointed out that innovation must be a key component to entering, staying and growing in international markets, and that a variety of products and services must be offered that add value to the consumers’ experience and offer something competitors don´t have.
«This is why it is vitally important to encourage programs that allow us to improve our range of exportable products so that we can count on innovative medium and long-term products that respond to international consumer trends and expected requirements in the most demanding markets,» he argued.
The president of the Dominican Association of Exporters, Luis Concepción, suggested that we must strengthen the country´s business fabric in order to develop our exportable products.
He added that we need to increase the number of exporting companies, consolidate current exporters, and have an attractive export offer for international markets, among other things, in order to internationalize the Dominican economy.
Concepción also proposed that the export sector should be geographically diversified. «We must prioritize alliances focused increasingly on the high added value and sophistication of the range of exportable products so we can trade Dominican products. This will allow us to reach more markets and be more competitive, «he said.
Adoexpo also proposed improving the efficiency of managing the support for internationalization. Luis Concepción says that accelerated globalization and hyper-competition «force us to be better prepared and adapt to the various scenarios that are happening very quickly.»
That is why the Dominican export eco-system must be stable and secure so we can plough ahead in the conquest of international markets.
Concepcion´s last proposal is to promote an export culture, saying that fostering and building up an export culture should be part of a master plan that includes a strategy to foster and encourage national awareness of overseas trade.
«We must encourage the inclusion of new programs and careers linked to foreign trade in higher education institutions, thus promoting awareness of the benefits of exports for everyone,» said the president of Adoexpo.
He claims that implementing these proposals is urgent for short- and medium-term growth.
» By committing to quality and value we should all commit ourselves to consolidating a true export culture and creating the best conditions for opening the doors of international markets to our producers and brands,» the businessman concluded.
Excellence Award
Luis Concepción was speaking as the Dominican Exporters Association (Adoexpo) Gala Supper which awarded «Exporter of the year» to the company Falconbridge Dominicana. This was the XXXIII Dominican Exporting Excellence Awards 2019. The awards are divided into six categories for the most outstanding companies and institutions in that sector.
The gala ceremony was held at the La Fiesta Theater at Hotel Jaragua, where the «Industrial Exporting Excellence Award» went to the Antillean Foods company and the «Free Trade Zone Exporting Excellence Award» went to the Tabacalera de García.
Likewise, the Agroindustria Ocoeña companies were awarded the «Excellence in Agricultural Exporting» category while Capilo Español Laboratory was awarded «SME Exporting Excellence».
In the «Excellence in service to the export sector» category Haina International Terminals was awarded as a private sector company and the National Competitiveness Council as a public sector institution.
Adoexpo also recognized the excellent work of Jairon Severino, who received recognition as a prominent journalist in the export sector, and the weekly newspaper El Dinero as a specialized media. In this XXXIII edition of the Adoexpo wards, 25 companies competed in six categories where, in addition to the trophies, the award winners received a plaque and stamp of Dominican Exporting Excellence, which they can show on their products for three years after the award ceremony.
Source: Diario Libre
