The Dominican Republic and China have vowed to foster cooperation in the promotion of bilateral trade and two-way investment.

The two sides made the agreement at a dialogue between a visiting government delegation from the Dominican Republic and Chinese entrepreneurs in Beijing on May 31.

Zhang Wei, Vice Chairman of China Council for the Promotion of International Trade (CCPIT), the dialogue host, hailed the establishment of diplomatic ties has provided huge opportunities for the bilateral cooperation in all fields.

“There are huge potentials and broad outlook for development in the cooperation in bilateral trade, infrastructure construction, tourism and agriculture between China and the Dominican Republic. CCPIT is willing to take the opportunity to establish cooperation links and mechanism for more trade promotion agencies in the Dominican Republic. We hope to jointly organize more exhibitions, investment forums, business match-making meetings, etc. in both countries so as to promote the mutual benefits and boost bilateral trade ties,” added Zhang.

Vice Minister of Development Policy of the Ministry of the Presidency Juan Ariel Jimenez of the Dominican Republic shared the advantages and economic development of the Dominican Republic, saying that his country boasts political stability and good geographical location.

“The Dominican Republic has signed free trade agreements with 48 countries and offer favorable policies for foreign investors. We would like to have a comprehensive cooperation with China by favor of the establishment of diplomatic ties,” added Jimenez.

Senior officials from 11 government departments of the Dominican Republic and 29 Chinese business delegates attended the dialogue.