do business in the Dominican Republic - Pellerano & Herrera

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DOING BUSINESS INTHE DOMINICAN REPUBLICucts, in spite of the fact that it is New York that hosts the biggest number ofDominican immigrants. For the Miami Port, the Dominican Republic is the largestsource of imports from countries of the Caribbean Basin, with 21% of suchexports.This shows that New York, may be a market with a lot of potential for the productsexported to the United States.Dominican exports for the period 2001-2005 have had the following performance:DOMINICAN EXPORTSYears National Free zones Total Free zonesexports exports exports %2001 794.6 4,481.6 5,276.2 84.9%2002 847.7 4,317.3 5,165.0 83.6%2003 1,064.0 4,406.80 5,470.8 80.6%2004 1,250.7 4,685.20 5,935.9 78.9%2005 1,397.9 4,734.6 6,132.5 77.2%40MAIN EXPORTSThe Dominican Republic exports a wide variety of finished and semi-finishedproducts.A significant part of exports takes place within the free zone system,such as garments, shoes, electrical components, medicines and foods.Traditionalexports include sugar, molasses, syrup, green coffee, tobacco and cacao. Thecountry also exports minerals such as gold, tin, silver and copper.In the year 2001, exports were affected by the international economic recessionand decreased 7%. Free zone exports went down 4.9%, while other exportsdropped 17.7%. In this reduction had a big influence the reduction of ferronickelexports (38.8%) due to the drop in international prices. Coffee and tobaccoexports went down 12.6%.On the contrary,cacao exports increased 63.6%,whilesugar exports stayed at similar levels than the previous year.In the following years, exports of traditional products (sugar, coffee, cacao andferronickel) increased, due to a higher export quantity and an improvement ininternational prices. Likewise, exports of minor products, a group of 132 agriculturaland industrial products such as steel rods, bananas, eggs, clinker, alcoholdrinks, avocados, coconut cream, green beans, etc. went up considerably.The main destination for Dominican exports are the United States, Puerto Rico,United Kingdom,The Netherlands, Canada, Haiti, Belgium and Luxembourg andSouth Korea. Recently destination markets have been showing a higher degree of
Pellerano & HerreraAttorneys at lawdiversification.In the year 2004, according to preliminary figures, free zone exports reached theamount of US$4,416.5 million. The main products were apparels and textiles,electronic products,jewelry,pharmaceutical products,tobacco manufactures andshoes.EXPORT PROCEDUREDecree 377-92 of 18 December 1992 eliminated the requirement to obtain anExport License, which was until then required to any person or company whowanted to undertake export activities.In general, the documents required to make an export are only the following:Commercial InvoiceExport FormBill of Lading or Airway BillCertificate of OriginSanitary of Phitosanitary CertificateIn addition, there may be local procedures for some products that are regulatedby the relevant competent bodies or if the destination country so requires.The Export and Investment Center (CEI-RD) provides assistance to exporters inmaking export arrangements and manages existing export incentive programs.EXPORT PROMOTION (CEI-RD)The Dominican Center for Export Promotion (CEDOPEX) was created in the year1971 in order to promote competitiveness of export products and to increaseand diversify export offer and destination markets. In the year 2003, this bodywas merged with the Office of Investment Promotion (OPI-RD) to conform thenew Export and Investment Center (CEI-RD).The Division of Export Promotion has the following functions:To organize commercial missionsTo assist in the organization of participations in commercial fairsTo promote the offer and demand of products through the Trade PointTo identify preferences and requirements in foreign markets in order to adaptnational productsTo identify commercial opportunities in foreign marketsTo assist exporters to enter foreign marketsTo offer technical assistance to exporters in the promotion of their products41
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LEGAL FRAMEWORKFOR BUSINESSACTIVITI
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Design: Lourdes Saleme y AsociadosP
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