The Diplomat
The ambassador of the Dominican Republic, Juan Bolívar Díaz, signed last Wednesday two agreements with two Spanish entities, at the headquarters of the diplomatic legation.
The signatures were with Fernando Herrera Mendieta, president of Power & Glen Asociados S.L. (Tiendas Punto Ahorro) and with Luis Socías Uribe, director of Invest In Madrid (IIM), representing the Fundación Madrid por la Competitividad (FMC), who was accompanied by Patricia Ortiz, director of Institutional Relations of IIM.
The agreement with the Punto Ahorro Store will allow Dominican consumers to receive a set of special advantages when purchasing its product portfolio, which includes home accessories, electronics, sports, health, beauty, fashion, among others. These products can be purchased at any of its shops or through its website www.puntoahorro.com. In addition, purchases can be made on the digital platform Correos Market or Wallapop Pro. The agreement will last for six (6) months and will be renewed for one year if neither of the parties denounces it with three months’ notice.
For its part, the Memorandum of Understanding (MOU) between the FMC and the Dominican Government establishes the framework of cooperation to be developed by IIM and the Embassy to promote their institutional relations towards mutual cooperation in investment and foreign trade.
The MOU will enable regular meetings to be held to identify actions to promote business internationalisation programmes, such as the initiation and consolidation of exports from both countries, the opening of new markets or the search for business cooperation formulas in order to address foreign markets by optimising resources, according to Ambassador Díaz.
It will also promote the regular exchange of information, publications and data of interest, especially those related to the policy and regulatory framework of each country, in order to guide business opportunities for the business sector, among others.
It should be noted that the MOU will be valid for three (3) years, admitting an automatic renewal at its expiration for the same period only once, unless the parties agree on a written extension.
