- EU supports country in urban transport
- Raquel Peña highlights the strength of relations
In 2024, the European Union (EU) positioned itself as the Dominican Republic’s main investment partner, with a flow of foreign direct investment of more than 1,520 million dollars (33.7% of the total), consolidating its presence in important sectors such as tourism, renewable energy, manufacturing, sustainable urban transport and digital services.
“The trade relationship between the Dominican Republic and the European Union has reached historic levels. In 2024, foreign direct investment flows to the Dominican Republic reached an all-time high of more than 4,500 million dollars,” said the Vice President of the Republic, Raquel Peña, yesterday.
The statements were offered during a discussion organized by the EU, its member states and the Pontificia Universidad Católica Madre y Maestra (PUCMM), in which the strategic relationship between the European Union and the Dominican Republic was presented.
Agreement with the EU
During the meeting, the European Union’s ambassador to the country, Katja Afheldt, explained that trade relations with the Dominican Republic are framed in the Economic Partnership Agreement (EPA), signed between the Caribbean Forum of African, Caribbean and Pacific States (Cariforo) and the EU.
“We always say that the EPA is not just a free trade agreement, it’s a development agreement. We highlight this because access to the European market is asymmetrical. The European Union has opened its market, and since 2008 all goods from the Cariforum enter with zero tariffs, and we are not going to change that,” Afheldt said.
She emphasized that Europe has 450 million consumers with high purchasing power.
The European Union has no better friend in the region than the Dominican Republic” Antonio Pérez-Hernández – Ambassador of Spain
“It is a very important premium and relevant market for the Dominican Republic. In addition, the EPA allows Cariforum countries to protect sensitive sectors. In the Dominican case, it is rice, beans and rum,” she added.
Spanish ambassador, Antonio Pérez-Hernández, also highlighted the closeness between the two parties.
“The European Union has no better friend in the region than the Dominican Republic. We are natural, strategic, and priority partners. The Dominican Republic can count on the European Union,” he said.
Energy and climate change
The EU’s cooperation with the D.R. includes encouraging renewable energy, energy efficiency and sustainable mobility. Support is given to the construction of infrastructures such as hydroelectric plants, urban transport systems (metro and cable-car) and the incorporation of new green technologies.
Transportation support
French ambassador, Sonia Barbry, said that the EU promotes green and digital investments in the DR through its Global Gateway strategy.
It supports projects such as the metro, cable car and monorail, and mobilizes experts for long-term urban transport, promoting economic access and emission reductions.
Areas of EU and DR cooperation
The EU cooperates with the D.R. in many key areas, including sustainable economic development, renewable energy, urban transport, education, climate change, justice, security and governance. It also promotes digital transformation, institutional strengthening and regional integration through the Economic Partnership Agreement (EPA), supporting the country in its social and economic development in a comprehensive manner.
In the case of the rule of law, the EU supports the improvement of the Dominican judicial system, with an emphasis on access to justice, the digitalization of processes and the fight against gender-based violence. It also collaborates in the fight against drug trafficking, organized crime, cybercrime, human trafficking and arms trafficking.
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