October 21, 2020
Tuesday, September 17, 2013
Enterprise Florida opens mission registration to Florida’s ninth largest merchandise trading partner
ORLANDO, FL (September 16, 2013) – Enterprise Florida (EFI) invites businesses statewide to participate in a TEAM Florida trade mission, led by Governor Rick Scott, to Santo Domingo, Dominican Republic. The mission is scheduled for February 23-26, 2014.
International missions have been very successful for Florida, providing a notable return on the state’s investment into business development activities and long-range jobs-producing opportunities. Governor Scott has led trade and business development missions to Panama, Canada, Brazil, Israel, Spain, United Kingdom, Colombia, Chile and France.
The Dominican Republic is Florida’s ninth largest merchandise trading partner, with more than $5.5 billion in exports.
“This trade mission will feature one-on-one business matchmaking programs for Florida exporters and networking events with Dominican trade organizations,” said Secretary of Commerce and president & CEO of Enterprise Florida, Gray Swoope. “The mission will be an excellent opportunity for small and medium-sized businesses in Florida to expand their reach into the Caribbean region.”
EFI assists Florida businesses in expanding internationally with trade missions. Total expected sales reported by Florida companies that attended Governor Scott-led international missions are more than $400 million. The Governor’s active and innovative approach to promoting international business last year won him an award as the top U.S. governor for foreign direct investment (FDI) strategy from London-based fDi Magazine.
“Florida businesses need to be in the Dominican Republic because Florida has all of the necessary resources for the country’s growing economy,” said Manny Mencía, senior vice president of Enterprise Florida’s International Trade & Development division. “Our job at EFI is to help businesses develop and this mission to the Dominican Republic has many benefits for our Florida businesses. We want the businesses to be successful so it’s important that we give them the opportunity to expand internationally as well.”
The Dominican Republic has primarily exported coffee and sugar, however, the service sector is now the economy’s largest employer due to an increase in tourism, telecommunications and free trade zones.
Leading sectors with opportunities for Florida exporters include:
The U.S. and Dominican Republic have a steady commercial relationship and they are both vital to the Dominican Republic-Central America-U.S. Free Trade Agreement (CAFTA-DR). The two-way trade between the U.S. and the D.R. resulting from CAFTA-DR was $11.5 billion in 2011.
The free trade agreement has created new economic opportunities for the two countries by eliminating tariffs, opening markets, reducing barriers to services, and promoting transparency. As a result of the CAFTA-DR, nearly 80 percent of U.S. goods enter the Dominican Republic duty free. The remaining tariffs are set to phase out over the next 10 to 20 years.
Trade Mission Participant Fees:
Option 1: Gold Key participation will be limited to a total of 15 Florida manufacturers, distributors and service companies that best meet the participation criteria. Selection of these firms will be on a first-come, first-served basis. Final selection will be determined by the U.S. Commercial Office after a review to ensure market suitability.
Cost: $1,050 for first Florida company representative; $500 for each additional representative
Cost: $550 per Florida delegate
Trade grants will be available to qualified Florida manufacturers and professional service providers, covering 100 percent of the registration fee for the first company representative. The grant is only available for Option 1 Gold Key Package. A separate application process is required for this grant.
The registration deadline is December 1 for first company representative and January 30 for others who want to participate as Florida delegates.
Register by contacting:
Enterprise Florida, Inc. is a partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. Enterprise Florida’s mission is to facilitate job growth for Florida’s businesses and citizens leading to a vibrant statewide economy. In pursuit of its mission, Enterprise Florida works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.