Dominican Republic targets CIS markets for trade diversification

Dominican Republic’s ambassador to Moscow, Hans Dannenberg Castellanos, has shared during an interview with Sputnik plans for the country to expand its trading horizons by tapping into Commonwealth of Independent States (CIS) markets.

The strategy focuses on strengthening ties with potential buyers and providing opportunities to Dominican exporters amidst the current complications in global trade.

The country is actively promoting markets in Armenia, Belarus, Kazakhstan, and Uzbekistan, previously overlooked due to Russia’s dominance in the CIS.

Castellanos expressed optimism, believing in turning challenges into opportunities and focusing on innovation to overcome trading obstacles.

Large Dominican companies in the rum and coffee sector have been reconsidering their strategies regarding the Russian market.

This shift has opened doors for smaller, quality-focused coffee producers to establish trade with Russia.

To sustain trade flow, the ambassador emphasized the importance of finding creative solutions, such as utilizing third-party countries for transactions that can’t be processed from Russia.

Non-sanctioned Dominican products, such as coffee, avocados, mangoes, and pineapples, have potential markets in Armenia, Kazakhstan, Serbia, and Russia.

All that’s required are alternative logistical and payment methods.

When asked about the Ukraine conflict, Castellanos suggested that Brazil, a BRICS group founding member and significant Latin American country, could mediate towards a peaceful resolution.

The Dominican Republic is also liaising with Uzbekistan labs and Belarusian pharmaceutical companies to import high-quality, cost-effective medicines.

Despite being primarily interested in high-cost drugs, the country remains open to all opportunities.

Plans to increase the budget for the Essential Medicines Program and the Central Logistics Support (Promese/CAL) are in place to ensure an adequate supply to national public medical centers.

With information from Sputnik