During the third summit of the Alliance for Development in Democracy (ADD) in Panama in 2024, the Dominican Republic reaffirmed its commitment to becoming a pivotal regional logistics hub in Latin America. The Dominican delegation, led by the Minister of Industry, Commerce, and MSMEs, Víctor Ito Bisonó, and the Deputy Minister of Free Zones and Special Regimes, Johannes Kelner, presented ambitious plans to strengthen regional supply chains and promote sustainable development.
The summit served as a platform to evaluate progress made in 2024 and establish strategic priorities for 2025. The Dominican Republic’s active role in the ADD was underscored by its position as the third-largest trading partner of the United States, highlighting its strategic importance in fostering economic stability and supply chain security across the region.
“Our commitment is to support the strategy promoted by the alliance through economic integration in critical sectors, creating a collaborative environment that strengthens the local economy, fosters foreign investment, and encourages the creation of new opportunities and jobs in our nations,” emphasized Minister Bisonó.
Key Focus Areas for Strengthening Supply Chains
The summit’s discussions centered on streamlining administrative processes, enhancing human capital, and consolidating value chains in strategic sectors such as medical devices and pharmaceuticals. Given the Dominican Republic’s robust manufacturing capabilities and established free trade zones, these sectors represent high-growth opportunities for the country.
A critical topic of conversation was the strategic role of the Panama Canal, through which 5% of global trade passes. The canal’s importance as a logistical artery connecting regional economies was highlighted, reinforcing the need for stronger Dominican-Panamanian trade relations. Minister Bisonó reiterated the Dominican government’s commitment to improving logistics and trade connectivity with Panama, positioning the Dominican Republic as a competitive and resilient logistics hub in Latin America capable of serving global markets.
Progress in 2024 and Setting Priorities for 2025
The Dominican Republic has already achieved significant milestones under the ADD framework. Leading the technical working group on medical devices, the country prioritized human talent development and regulatory convergence, essential for enhancing regional competitiveness. In parallel, Panama’s leadership of the technical working group on pharmaceuticals facilitated advancements in regulatory best practices and clinical trials. These initiatives reflect a shared commitment to innovation and collaboration.
Minister Bisonó highlighted the Dominican Republic’s strategic direction: “The work carried out this year reaffirms our commitment to sustainable and inclusive development. At this summit, we have outlined a roadmap for 2025 that aims to generate quality jobs, attract investment, and strengthen regional cooperation.”
The roadmap for 2025 includes actionable goals such as:
- Advancing digitalization to streamline trade processes.
- Investing in infrastructure to support logistics and manufacturing.
- Expanding free trade zones to attract multinational corporations.
- Developing workforce skills to meet the demands of emerging industries.
Strategic Meeting at the Panama Canal
Minister Bisonó’s strategic meeting at the Panama Canal highlighted the summit. Accompanied by José Ramón Icaza Clément, Minister for Canal Affairs of Panama, and Dr. Ricaurte Vásquez Morales, Administrator of the Panama Canal Authority, the leaders discussed strategies to enhance connectivity between the two nations. By leveraging the canal’s logistical significance, the Dominican Republic and Panama aim to consolidate their roles as key logistics hubs in Latin America, benefitting the broader region.
The meeting underscored the importance of infrastructure development and collaborative efforts to ensure supply chain resilience. For the Dominican Republic, strengthening its partnership with Panama represents a critical step toward achieving its vision of becoming a global trade destination.
About the Alliance for Development in Democracy (ADD)
The ADD is a cooperative initiative comprising the Dominican Republic, Costa Rica, Panama, and Ecuador, with the backing of the United States. It aims to foster economic growth, strengthen supply chains, and promote sustainable regional development. Since its inception, the ADD has prioritized collaboration in sectors critical to the region’s competitiveness, including logistics, manufacturing, and pharmaceuticals.
With the 2024 summit, the ADD concludes the year by establishing a clear framework for action in 2025. By prioritizing trade, investment, and regional development, the alliance continues to drive forward its mission of creating a more integrated and prosperous Latin America.
The Dominican Republic’s Vision for Regional Leadership
The Dominican Republic’s efforts to become a regional logistics hub in Latin America align with its broader vision of economic integration and sustainable development. Through initiatives led under the ADD, the country seeks to:
- Enhance its manufacturing and export capabilities.
- Strengthen its position as a gateway for global trade.
- Foster innovation through public-private partnerships.
By investing in infrastructure, talent development, and regulatory harmonization, the Dominican Republic is positioning itself to capitalize on the growing demand for resilient supply chains. These efforts benefit the nation and contribute to regional stability and economic growth.
Conclusion
As the Dominican Republic looks toward 2025, its role within the ADD and its partnership with Panama underscore a commitment to regional collaboration and global trade. By focusing on strategic sectors, fostering innovation, and strengthening connectivity, the country is well on its way to becoming a leading logistics hub in Latin America. The efforts showcased at the ADD summit reflect a forward-thinking approach to economic development, ensuring a prosperous future for the Dominican Republic and its partners.