Santo Domingo.- The State-owned Reservas bank and Taiwan’s Export and Import Bank signed an agreement to finance Dominican importers who acquire goods and services coming from the Asian country.

The accord will give Dominican importers access to financing at competitive rates and up to five years to pay for imports, raw material, finished products and equipment from Taiwan, for which the Asian bank will open a line of credit through the Reservas.

Reservas and Korea’s Eximbank signed a similar agreement in April, which also provide financing for Dominican importers who acquire products in that nation.

The agreement was signed by the Taiwan bank’s top representative in Brazil, Hsiao Chun-Ming, and Reservas administrator Daniel Toribio, who noted Taiwan’s similarity with Dominican Republic, even in size. “It resembles and unites us, also, a long and warm tradition of friendship and business, which is reinforced with this agreement.”