Representatives of the steel sector and its derivatives from Turkey stressed the importance of trade relations between that country and the Dominican Republic.
The president of the company “Turkish Steel”, Namik Ekinci spoke with the newspaper Listin Diario on the current situation of steel imports from Turkey to the country.
“Although Dominican Republic represents only 0.03% of imports and is number 75 on our list of countries we do business, we see great potential and we want to expand our relations,” said Ekinci.
Turkey is the second largest steel producer, surpassed only by China.
Business with RD
Despite the leadership position of the steel and its derivatives in the world, between 2014 and 2015 a decrease of 50% of imports of such material to the Dominican Republic, from 72,000 tons in 2014 to 35.000 tonnes was presented in 2015.
Also, Ekinci said that Turkey is against dumping, which is a commercial practice of selling a product below normal or even below their cost of production, with an immediate end to phase companies empt the market and competitors as they regard it as unfair.
Currently, the Trade Defence Commission of the Dominican Republic is conducting a sunset review of anti-dumping duties in place on imports of steel bars and rods originating in Turkey. Within the framework of this process, a commission sent from Turkey arrived in the country to participate in the public hearing to be held today at 9:00 am.
However, the exchange is not limited to steel and its derivatives. In the last five years there has been an increase in trade between the Dominican Republic and Turkey. In 2014 the amount totaled US $ 15.9 million.
The main exports from the country and Turkey belong to the pharmaceutical, surgical sutures, skins, leather, footwear and cigars. To increase trade between the two countries constantly wheels and business missions focused on technological and electronic products are made.