The Spanish Chamber of Commerce in the Dominican Republic (Camacoes) announced its support for President Luis Abinader’s call for a national agreement. Given the complex international landscape resulting from tensions between the United States, Israel, and Iran, the business organization considers it urgent to establish a unified position that protects the country’s economic sovereignty and social peace.
For the Chamber, the instability in the Persian Gulf is not an isolated event, but rather one that generates a multiplier effect on key sectors of the Dominican economy. In particular, the organization expressed concern about the sustainability of the tourism sector, a driving force of the national economy where Spanish investment is leading the way. Given the potential increase in aviation fuel prices and fluctuations in traveler confidence, Camacoes President Paco Pérez urges the strengthening of public-private partnerships to ensure that the Dominican Republic remains a safe and competitive destination.
In the energy sector, the Chamber warned that volatility in the price of a barrel of oil directly impacts the country’s cost structure. Therefore, it proposes that the national agreement not only include immediate mitigation measures, but also accelerate the transition to renewable energy sources so that their use as a source of power generation can be increased. “On this point, we offer the State the experience and technology of Spanish companies to reduce dependence on foreign fossil fuels in the short term,” said Pérez.
The strategy proposed by the Chamber also encompasses foreign trade and logistics. To prevent the increase in international freight costs from translating into inflation for Dominican consumers, Camacoes suggests streamlining customs processes and promoting the creation of strategic inventories of basic and industrial inputs. According to the organization’s president, “this preventative approach seeks to provide predictability for businesses and protect the finances of Dominican families.” In this regard, the organization also states that it would be important to take action to maintain exchange rate stability.
Finally, the Spanish Chamber of Commerce reaffirmed its long-standing presence in the country, which spans over a century, and its commitment to national development and prosperity. As part of this commitment, the Chamber offered to participate in the group of technical experts involved in defining and monitoring the National Agreement proposed by President Abinader.
Likewise, it serves as a strategic link with the European Union to strengthen trade ties at a time when traditional markets could become volatile. “We also call on our members to optimize internal costs and avoid sharp increases in final prices, demonstrating that unity and cooperation are the best tools in the face of global instability,” concluded Paco Pérez, president of the organization.
About the Spanish Chamber
It is a private, non-profit association officially recognized by the Kingdom of Spain. They collaborate in strengthening and developing economic and business relations between Spain and the Dominican Republic, promoting investment and trade between the two countries. One hundred years later, they have around 400 member companies and a network of contacts spanning all economic sectors in the Dominican Republic, serving as a platform for networking and creating favorable environments for commercial and economic exchange.
