Dominican Republic, Brazil sign trade deal

The Dominican Republic and Brazil signed an agreement Tuesday to promote bilateral trade.

The deal was signed here between the Dominican Republic Export and Investment Center (CEI-RD) and a Brazilian official export agency, Apex-Brasil, CEI-RD Director Eddy Martinez said.

The new agreement seeks to improve trade balances between the tiny Caribbean island and the South American giant, which exported 400 million U.S. dollars of goods to the Dominican Republic in 2010. Brazil's import from it registered only 15 million dollars in the same year.

Officials on both sides recognized the importance of the new agreement.

The agreement will also facilitate foreign investment and business exchanges between the two countries, Apex-Brasil Director Mauricio Borges said.

Source: Xinhua

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