Trade Committee between India and Dominican Republic

  • A proposal approved by the Union Cabinet chaired by Prime Minister Mr Narendra Modi.
  • Proposal for the signing of a protocol for the establishment of the Joint Economic and Trade Committee (JETCO).
  • Between the Department of Commerce, Ministry of Commerce and Industry of the Republic of India and the Ministry of Foreign Affairs of the Dominican Republic.

Background:

  • At present, there is no bilateral institutional mechanism between India and Dominican Republic on trade and commerce.
  • India primarily imports gold from the Dominican Republic.
  • India exports pharmaceuticals, marine products, motor vehicles, two and three-wheelers etc. to them.

Key Highlights:

  • Platform for discussions, exchange of information, knowledge and ideas to facilitate trade and industry.
  • Gateway to the larger Latin American and Caribbean markets.
Posted in Current Affairs.