The embassy of the Asian country in Santo Domingo will focus on attracting Chinese investors and offering facilities for Dominican entrepreneurs to develop their business in China.
Fu Xinrong, Chargé d'Affaires at the Diplomatic Mission, informed Eldinero.com.do that "... the Embassy will have more functions with the integration of Political Advisers and Economic and Commercial Affairs, as well as a Military Attaché, with the consular service being the most noteworthy."
Commercial and industrial companies, free zones and tourism would be the main beneficiaries of the establishment of diplomatic ties between the two countries.
The president of the board of directors of the Corporación Zona Franca Santiago, Miguel Lama, explained that "... 'Industries, trade, free zones and tourism will have new and greater opportunities in view of this decision of the Dominican Government to formalize links with the nation with the highest economic growth in the last thirty years and where 1,350 million people live.'"
In 2017 sales from the island to the Asian country totaled $145 million, of which $48 million were for telephone sets and $22 million for copper.
Following the agreement last week between the Dominican Republic and China to formalize their diplomatic relations, the expectation is that trade between both countries will grow in the coming years.
Panama's decision to establish diplomatic relations with the People's Republic of China is a promising step towards turning the country into a gateway for investments by the Asian giant in the region.
EDITORIAL
Although Panama is not the first country to break diplomatic relations with Taiwan in order to establish them with China, with Costa Rica having done so in 2007, it is the only country in the region that has the necessary logistical and commercial conditions to become an ideal platform for Chinese investments.
The decision taken by both governments to restore the diplomatic relations, which were suspended in 2010, has opened the door to promotion of Israeli investment in the country.
The announcement was made through a statement issued jointly by the two governments. The restoration of diplomatic relations could bring positive consequences for the Nicaraguan economy by facilitating the arrival of investment to the country by Israeli companies.
The Government is looking for resources to open an embassy in China during the third quarter of 2016 and to promote issues such as clean energy and sustainable tourism.
The Foreign Ministry of Costa Rica announced that is seeking funds to open an embassy and send diplomatic personnel to Jakarta, Indonesia. The Minister of Foreign Affairs, Manuel Gonzalez, confirmed to Crhoy.com that the branch could be set up in the third quarter of this year.
The government has announced that it will open an embassy in Iraq, and has started negotiations to abolish visas, arrange investment protection and study a commercial airline connection.
From a statement issued by the Ministry of Foreign Affairs of Panama:
During an official visit to the city of Abu Dhabi (UAE), the Vice President and Chancellor Isabel de Saint Malo de Alvarado and his UAE counterpart agreed to an exchange of embassies between Panama and the United Arab Emirates, seeking to strengthen and expand diplomatic relations between the two countries. With the same objective, the Minister of Foreign Affairs of the UAE raised a possible visit to Panama by the Crown Prince in 2015.
An announcement has been made that services and office staff will be expanded in Panama City and from there the Dutch will strengthen their business with other countries in Central America.
After a meeting of the Dutch ambassador and Panamanian officials, it was announced that the office operating in the country will be expanded to extend activities throughout Central and increase financial and trade relations with Panama.