Mission Statement
Caribbean Trade Mission
Dominican Republic and Jamaica
March 15-19, 2010

Mission Description

The United States Department of Commerce, International Trade Administration, U.S. and Foreign Commercial Service is organizing a matchmaking trade mission to Santo Domingo, Dominican Republic, and Kingston, Jamaica, March 15-19, 2010.  The matchmaking trade mission will include representatives from a variety of U.S. manufacturing companies and service providers. These mission participants will be introduced to international agents, distributors and end-users whose capabilities are targeted to each U.S. participant’s needs in the target markets. Mission participants will also meet with key local industry contacts that can advise on local market conditions and opportunities.  In addition, U.S. and Foreign Commercial Service (USCS) staff will be on hand to discuss market trends and opportunities in the Dominican Republic and Jamaica.

Commercial Setting:

The Caribbean is more than just a vacation destination; it is also a steadily growing market full of business opportunities for U.S. companies.  The Caribbean Region is a natural commercial partner of the United States, closely linked by geography, history, and culture.  The region as a whole represents a market of about 41 million people who collectively imported over $20.3 billion in U.S. goods in 2008.  The Caribbean Region is the third largest export market for U.S. manufactured goods in Latin America, behind Mexico and Brazil.  The United States enjoys a cooperative trading relationship with the region.  Trade programs such as the Caribbean Basin Initiative (CBI)—launched in 1983 and expanded in 2000 through legislation enacted by Congress—facilitate the economic development and export diversification of most of the Caribbean Basin economies.  U.S. exports to the 19 CBI beneficiary countries have more than tripled since the CBI’s creation, from $6.5 billion in 1984 to more than $20 billion in 2008.

Additionally, on August 5, 2004, the United States and the Dominican Republic (DR) signed a Free Trade Agreement (CAFTA-DR).  The agreement entered into force between the United States and the DR on March 1, 2007, allowing more than 80% of U.S. exports of consumer and industrial goods to enter duty free to the DR, with remaining tariffs phased out over ten years.  In addition to tariff reduction, CAFTA-DR provides unprecedented access to government procurement, liberalizes the services sectors, protects U.S. investments, and strengthens protections for U.S. patents, trademarks, and trade secrets in the DR.  The U.S. has a 48% market share of DR imports.  The DR is the seventh largest market in the Western Hemisphere for U.S. exports after Canada, Mexico, Brazil, Venezuela, Colombia, and Chile.  

The United States is also Jamaica’s primary trading partner with 40.1% of imports coming from the United States in 2008.  Jamaica’s 2008 gross domestic product (GDP) is $13.47 billion, of which 20% derives from tourism and 20% from remittances from Europe and North America.  A trend toward significant investment in the hotel and tourism sector, as well as new highways, increased energy production, and port modernization, will likely lead to higher GDP growth.  Additional development is expected to result from a new provision to allow three casinos on the island.  Jamaica’s Labor Party-led government, elected in 2007 on a platform of pro-business and sound governance, is championing transparency, tax reform, and the reduction of red tape for business.  Proximity, quality, and the use of a common language have encouraged Jamaican businesses to purchase from the United States.

Companies that intend to export goods and services in building products; hotel and restaurant equipment; medical equipment and supplies; automotive parts and accessories; and renewable energy possess great potential for success.  Other companies will be considered for participation in this mission based on their market potential in both countries.

Mission Goals

The goal of the Caribbean Trade Mission is to facilitate an effective presence for small and medium sized companies to export to the Dominican Republic and Jamaica.  The mission will enable U.S. companies to familiarize themselves with these important markets, to conduct market research, and to explore export opportunities through pre-arranged meetings with potential partners.  In additional networking events will provide participants with opportunities to meet with government and industry professionals.  Knowledgeable Commercial Service Specialists who are familiar with the firms’ objectives will support the mission participants.

Mission Scenario

The Caribbean Trade Mission will stop in Santo Domingo, Dominican Republic, and Kingston, Jamaica, where the program will include the following activities and services:

• Economic/business country briefing in both countries;
• Transportation from airport to hotel in both countries;
• Pre-scheduled meetings with potential partners, distributors, and/or end users as well as with local industry contacts;
• Participation in mission reception at the Ambassadors’ residences in both countries;
• Conference calls with U.S. Embassy staff prior to the mission to review goals/objectives.

Timetable:

Santo Domingo, Dominican Republic

Kingston, Jamaica

PARTICIPATION REQUIREMENTS

All parties interested in participating in the Caribbean Trade Mission must complete and submit an application for consideration by the Department of Commerce.  All applicants will be evaluated on their ability to meet certain conditions and best satisfy the selection criteria as outlined below.  A minimum of 8 and a maximum of 15 companies will be selected from the applicant pool to participate in the mission.

Fees and Expenses:

After a company has been selected to participate on the mission, a payment to the Department of Commerce in the form of a participation fee is required.  The participation fees reflect two options:

The participation fee for each additional company representative (large company or SME) is $500.  Expenses for lodging, some meals, incidentals, and travel (except for transportation to and from airport) will be the responsibility of each mission participant.

Conditions for Participation:

• An applicant must submit a completed and signed mission application and supplemental application materials, including adequate information on the company’s products and/or services, primary market objectives, and goals for participation.
• Each applicant must certify that the products and/or services it seeks to export through the mission are either produced in the United States, or, if not, marketed under the name of a U.S. firm and have at least 51% U.S. content of the combined value of the finished product or service.

Selection Criteria for Participation

Selection will be based on the following criteria:

• Suitability of a company’s products or services to the mission’s goals
• Applicant’s potential for business in the Dominican Republic and Jamaica, including likelihood of exports resulting from the trade mission
• Consistency of the applicant’s goals and objectives with the stated scope of the trade mission

Preference will be given to companies applying to take part in the entire itinerary.  Any partisan political activities (including political contributions) of an applicant are entirely irrelevant to the selection process.

TIMEFRAME FOR RECRUITMENT AND APPLICATIONS

Mission recruitment will be conducted in an open and public manner, including posting on the Commerce Department trade missions calendar-http://www.ita.doc.gov/doctm/tmcal.html-and other Internet websites, publication in domestic trade publications and association newsletters, mass e-mail and fax campaigns to internal client databases and to sector distribution lists, posting in the Federal Register, and announcements at industry meetings, symposia, conferences, and trade shows.  The Trade Mission will also be promoted by USCS and by team members in U.S. Export Assistance Centers. 

Recruitment for the mission is to begin immediately and conclude no later than January 22, 2010.  Applications received after January 22nd will be considered only if space and scheduling constraints permit.

Contacts