The protocol for the establishment of the Joint Economic and Trade Committee (JETCO) between India and the Dominican Republic was signed at the Ministry of Foreign Affairs of the Dominican Republic at Santo Domingo. The protocol was signed yesterday by Minister of Foreign Affairs of the Dominican Republic Roberto Álvarez and Ambassador of India to the Dominican Republic Ramu Abbagani, on behalf of the Department of Commerce.

The Ministry of Commerce and Industry said that the protocol envisages strengthening and developing cooperation on trade, services, industrial technologies, and various other sectors by means of technical assistance, training programmes, and capacity building. It will be pivotal in mitigating challenges faced by the trade and industry and provide a platform for sharing of knowledge and best practices between the two countries. India primarily imports gold from the Dominican Republic and exports pharmaceuticals, marine products, motor vehicles, two and three-wheelers, etc. to them.

The Union Cabinet had approved the proposal for the signing of the said protocol for the establishment of JETCO on 24th January this year.