SANTO DOMINGO.- Dominican Republic’s role as the Caribbean’s major foreign trade partner for Austria exporters was acknowledged in a recent gathering of local and Austrian entrepreneurs, and chambers commerce representatives.

Last year Austria exported €13.1 million worth goods and services of and imported by more than €13.6 million in products, which gave Dominican Republic an €500,000 surplus in bilateral trade, a figure which also includes increased spending by the more than 14,000 Austrian tourists who came in 2007.

In recent years Austria’s reputation as a top machinery and transport equipment maker has grown, and includes the full range from rails and track-switches for trains subways, trolleys and passenger cars to railroad managment. Funiculars and cable cars made by the company Doppelmayer already operate in several Latin American countries.

As to the recognized consumer products, the company Red Bull produces energy drinks, found in supermarkets and bars across the Caribbean; the jewelry designs by Michaela Frey and the house of Swarovski Crystal.

In January the Embassy’s Trade Delegation participated in Santo Domingo’s first energy fair (SEIDE), where over 100 contacts were made with exhibitors, business leaders and government officials.

Alternative Energy

Many years ago Austria’s industry had already specialized in alternative energy generation wind, solar or other plants working with methane or biomass, which together with a high hydrolectric capacity currently provides up to 70 percent of Austria’s electricity consumtion.

The rest is generated by natural gas or coal-fired plants, equipped with the leading edge technology filters to reduce emissions and prevent pollution.

Another topic for extensive collaboration are plants to recycle garbage and produce electricity and steam from burning waste, wo of which operate in the Austrian capital Vienna, justifying the saying "trash is money."

The Austrian government is offering soft loans to the Dominican government to materialize several infrastructure, environmental or energy projects, and the growing number of tourists every year Austrian investors could also set their sights on tourism projects.

Today more than 500 Austrians live permanently in Dominican Republic, many of them retired and receiving their monthly Social Security checks from their home country. Some former Austrian ex-pats have stores, businesses or consultancies.

The Consulate and the Austrian Embassy have organized the Austrian Business Circle which has promoted trade relations with business leaders in the Dominican Republic. This Business Club will also support future cultural and social activities.

Special guest speakers presented issues of common interest, suggested by the Club’s participants.

On June 18 its first speaker Professor Zins, PhD at the private university MODUL-Fachhochschule fuer Tourismus of Vienna, Austria, spoke about new trends in global tourism, Austria’s strenght in that industry and the new tourism training techniques.