NewsWhore
09-16-2009, 05:40 PM
Wang Zhen, director for the Foundation for International Studies, said yesterday that of the 20 Latin American nations that trade with China, the DR has the largest trade deficit. China traded US$140 billion with Latin America in 2008.
Trade with the DR was about 10% of the total, but one-sided. Over the past 4 years, Chinese exports to the DR add up to nearly US$1.4 billion. The DR exported only US$290 million to China during the same period.
Zhen made these comments after taking part in a seminar on Chinese foreign trade and foreign relations policies for Latin America at the Dominican Republic Center for Exports and Investment (CEI-RD). Eddy Martinez of CEI-RD said that President Leonel Fernandez is interested in increasing trade with China.
"It is not necessary to trade with China, it is obligatory," said Martinez. He said the DR could increase its exports of farm produce and industrialized farm products to China, including rum, cigars, coffee and cacao.
The CEI-RD is coordinating Dominican participation in the Shanghai Trade Fair in 2010. The DR will have a stand exhibiting Dominican products during six months. Zhen has recommended efforts be undertaken to increase knowledge of the DR in China, and China in the DR.
The US$290 million consists primarily of ferronickel exports, which have been suspended. Also exported is metal scraps and copper. Copper exports are controversial because a large percentage of the material is taken from stolen cables and wires.
See http://www.jamestown.org/single/?no_cache=1&tx_ttnews[tt_news]=34164 for background on China's new policies with Latin America.
See http://news.xinhuanet.com/english/2008-11/05/content_10308117.htm for the White Paper on Chinese-Latin American relations.
More... (http://www.dr1.com/index.html#1)
Trade with the DR was about 10% of the total, but one-sided. Over the past 4 years, Chinese exports to the DR add up to nearly US$1.4 billion. The DR exported only US$290 million to China during the same period.
Zhen made these comments after taking part in a seminar on Chinese foreign trade and foreign relations policies for Latin America at the Dominican Republic Center for Exports and Investment (CEI-RD). Eddy Martinez of CEI-RD said that President Leonel Fernandez is interested in increasing trade with China.
"It is not necessary to trade with China, it is obligatory," said Martinez. He said the DR could increase its exports of farm produce and industrialized farm products to China, including rum, cigars, coffee and cacao.
The CEI-RD is coordinating Dominican participation in the Shanghai Trade Fair in 2010. The DR will have a stand exhibiting Dominican products during six months. Zhen has recommended efforts be undertaken to increase knowledge of the DR in China, and China in the DR.
The US$290 million consists primarily of ferronickel exports, which have been suspended. Also exported is metal scraps and copper. Copper exports are controversial because a large percentage of the material is taken from stolen cables and wires.
See http://www.jamestown.org/single/?no_cache=1&tx_ttnews[tt_news]=34164 for background on China's new policies with Latin America.
See http://news.xinhuanet.com/english/2008-11/05/content_10308117.htm for the White Paper on Chinese-Latin American relations.
More... (http://www.dr1.com/index.html#1)