Bursa Firms Invited to Invest in the Dominican Republic

Investment Opportunity Call for Bursa Businesses Elvis Antonio Alam Lora, Ambassador of the Dominican Republic to Ankara, stated that the Dominican Republic has access to a market of 900 million through free trade agreements with the Americas and Europe, and expressed: "Bursa companies can use the Dominican Republic as a production and logistics hub to open up to these markets." Continuing its work to open Bursa's business community to new markets and establish global partnerships, BTSO hosted Elvis Antonio Alam Lora, Ambassador of the Dominican Republic to Ankara, and his delegation. The delegation was welcomed by BTSO Board Members Hakan Batmaz and Haşim Kılıç. The visit addressed trade, investment and tourism relations between Bursa and the Dominican Republic.

"Bursa exports to more than 117 countries"

BTSO Board Member Hakan Batmaz provided information on Bursa's economy and BTSO's activities. Noting that Bursa is Turkey's production center with 17 organized industrial zones, Batmaz stated that beyond sectors such as textiles, automotive and machinery, Bursa's business community also has a strong voice in advanced technology fields such as defense, aerospace and aviation, technical textiles and composites. Pointing out that Bursa alone exports more than 117 countries with an annual export figure of 16 billion dollars, Hakan Batmaz emphasized that the city's export unit value has reached 4 dollars.

"We aim to increase our presence in Latin America"

Drawing attention to the fact that Bursa companies do not turn their face in a single direction in global trade, Hakan Batmaz said that exporters develop commercial relations in different regions, from Europe to Asia and from Africa to the Americas. Noting that Bursa exports to nearly 200 countries and regions, Batmaz made the following statements on the matter: "In line with our export targets, we aim to increase our presence in the Dominican Republic and Latin American market. We have 29 companies from Bursa that export to the Dominican Republic. We have a fairly limited trade volume with the Dominican Republic at around 7 million dollars. We regard the willing and determined attitude of our Ambassador in developing cooperation with Bursa's business community as an important opportunity for our economic relations. As BTSO, we will continue to use all our means to develop our commercial relations with the Dominican Republic."  

"Latin America's fastest-growing economy"

Ambassador Elvis Antonio Alam Lora stated that the Dominican Republic offers important opportunities for companies wishing to access the Latin American market, saying: "The Dominican Republic is among the most politically and economically stable countries in its region. With an average annual growth rate of 6.2 percent over the last 5 years, our country has become Latin America's fastest-growing economy. Our country also occupies a fairly strategic position geographically. This position makes the Dominican Republic an important transportation and logistics hub for companies wishing to reach North and South America. The Dominican Republic also provides access to a market of approximately 900 million through free trade agreements." he said.  

"Potential in tourism"

The Ambassador noted that the Dominican Republic is the second-largest tourist-receiving country in Latin America after Mexico, and stated that many international hotel chains have investments in the Dominican Republic. Saying that the country hosts more than 7 million tourists per year, the Ambassador continued as follows: "Our country is known to everyone thanks to a television program in Turkey. However, this is not enough for us. We want to develop our trade and investment relations with Turkey. That is why we are here today. We understand the importance of Bursa to Turkey's economy. We have great potential for cooperation with Bursa companies in areas such as textiles and tourism. I believe that through mutual visits and bringing together businesspeople from both countries, our current relations and cooperation will gain momentum."  

"75 Free Zones, 100 Percent Tax Exemption"

Following the visit, a "Dominican Republic Trade and Investment Opportunities Presentation" was held with the participation of representatives of Bursa's business community. During the presentation, Pro-Dominicana official Zanony Severino provided information on Dominican economy and trade opportunities. Severino noted that the Dominican Republic receives the most direct investment in its region, stating: "The Dominican Republic has 75 free zones. Investors here are provided with 100 percent tax exemption. Our country also has significant potential in agriculture, particularly in tropical fruit production. We rank first in the world in organic banana and organic cocoa production." he explained.