Dominican Republic, Canada Sign Trade and Investment Memorandum

Economic ties between the Dominican Republic and Canada were front and center last Wednesday, February 26, at the headquaters of the Ministry of Foreign Affairs in Santo Domingo.

Miguel Vargas, Minister of Foreign Affairs, and Michael Grant, Assistant Deputy Minister for Global Affairs of Canada, signed a Memorandum of Understanding on Bilateral Consultations on International Affairs, Trade and Investment.

“With this new instrument that we have just signed, we can deepen our political, trade and investment relationship, helping to achieve the potential of the complementarity of our economies,” said Vargas after the signing.

Vargas went on to highlight the economic ties between the Dominican Republic and Canada, including $857 million in trade and $4.586 billion in investment between 2010 and 2019. In addition, more than 900,000 Canadian tourists visited the Caribbean nation last year.

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