Enterprise Florida, Inc. (EFI) will lead a delegation of small and mid-sized Florida businesses on an export sales mission to Santo Domingo, Dominican Republic from November 13-16. Registration to attend will end September 21.
Positioned as the largest economy in the Caribbean, the Dominican Republic presents great trade opportunities for Florida companies, facilitated by the U.S.-Central America Free Trade Agreement and benefiting from reduced tariffs and barriers.
“This export sales mission will provide small businesses with an excellent opportunity to enter or expand in the Dominican Republic market,” said Manny Mencia, senior vice president of international trade and development for EFI. “The Dominican Republic holds vast opportunities for Florida companies interested in increasing their footprint in the region’s market, and Florida’s proximity to the Caribbean makes the state a top choice for businesses there.”
One-third of all U.S. exports to Latin America and the Caribbean flow through Florida, and the Sunshine State has one of the largest concentrations of knowledge-based service providers specializing in the region. The state offers a strong support network of consular corps, chambers of commerce and sister cities to help Latin American and Caribbean businesses invest in Florida.
The Dominican Republic is Florida’s No. 6 merchandise trading partner, with nearly $6 billion in total trade between the two in 2016. Florida exported more than $3.1 billion to the Dominican Republic last year. According to the United Nations Economic Commission for Latin America and the Caribbean, the Dominican economy will grow by 5.1 percent in 2018 and remains as the largest economy in the Caribbean region.
The industry sectors listed below provide the best opportunities for exports from the U.S. to Dominican Republic:
- Air Conditioning and Refrigeration Equipment
- Automobile Parts and Services
- Building Products
- Hotel and Restaurant Equipment
- ICT & Services/Computers and Peripherals
- Medical Equipment
- Printing and Graphic Arts Equipment
- Renewable Energy
- Safety and Security Equipment and Supplies
- Sporting Goods
- Telecommunication Equipment
Florida-based companies looking to expand internationally can take advantage of the comprehensive exporting assistance provided by Enterprise Florida and its economic development partners. EFI assists Florida small and medium-sized businesses expanding into the international marketplace by:
- Organizing and executing overseas trade missions and shows
- Providing access to financial assistance for export transactions
- Providing export counseling and advice
- Assisting with product and service marketing plans
- Providing website localization plans
- Publishing the Florida Export Guide and more
Last year, merchandise valued at $147.7 billion flowed through Florida’s ports with Florida-origin exports reaching $55 billion. Florida exported more goods than 190 countries in 2017, making the state a world leader in international trade.
Florida companies can participate in pre-screened one-on-one “Gold Key” meetings with local companies interested in their product line, coordinated by the U.S. Commercial Service (USCS). The price of the Gold Key Package Registration is $1,400. Gold Key participation will be limited to Florida manufacturers, distributors, and service companies that best meet the participation criteria. Participants will be selected on a first-come, first-served basis. This option is limited to 20 Florida companies.
Eligible small and midsized Florida manufacturers and professional service providers may qualify for a Gold Key Grant which will offset 100 percent of the Gold Key Package fee for the first company representative. A separate application process will be required for this grant.
Gold Key Registration Deadline: September 21, 2018.
For registration forms or more information, contact Alejandra Henao at 305-808-3670 or [email protected].