Trade with Chile up

[NewsWhore]

According to Listin Diario, trade between Chile and the DR has doubled in the last three years and it is expected that this could increase even further in January 2010 once a memorandum of understanding is signed between both countries. According to Manuel Hinojosa, Chilean Ambassador to the DR, rum, cigars and coffee are among the main exports that Chile receives from the DR. Although exports towards Chile are increasing the trade values remain at a deficit for the DR. In 2008 the DR imported US$60.3 million in goods while the DR only exported US$14.9 million to Chile. The trend is for this to increase: in 2006 the DR exported US$4.6 million, in 2007 US$8.2 million and in 2008US$14.9 million. During the first 6 months of the year exports to Chile registered US$8.6 million and are expected to jump 25% by the end of the year. It is interesting to note that Chile is the second largest Latin American investor in the DR after Mexico. But even the discrepancies there are large, as Mexico has invested US$1.25 billion in the DR, while Chile has only invested US$174 million.

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