Santo Domingo.- U.S. ambassador Raul Yzaguirre on Wednesday called trade relations between his country and Dominican Republic successful and favorable, and further strengthened with the free trade pact (FTA), in a ceremony where an agricultural program was announced, with RD$179.9 million in funding.

He said Washington is currently implementing programs to make a major transformation so the Dominican Republic can export more products to the United States.

According to Economy Ministry figures the country's exports earn around US$8.0 billion per year, of which 60% are to the United States, making it Santo Domingo’s largest trading partner.

The diplomat spoke to reporters during the signing of an agreement with the Dominican government to implement the "Program to support the improvement of productivity and competitiveness of Dominican Republic’s agricultural sector.”

The agreement, signed in the offices of Economy minister Temistocles Montas, will provide around US$180 million to improve the quality of farm products and have better access to foreign markets. The pact will reallocate that amount of funds from a prior donation.

The agreement aims to bolster Dominican agriculture’s capacity as part of the commitment with the U.S. with Free Trade Agreement (DR-CAFTA) countries, promoting export, ensuring the preservation of Dominican assets and the commercial agreement’s continued success.

Economy Minister

For his part Montas thanked the U.S. government for again trusting his department to manage the program, with a RD$179.9 million funding.

He said the program involved cooperatives and other agricultural groups, local or foreign NGOs related to the farming sector, as well as U.S. and Dominican agencies.

Agriculture minister Salvador Jimenez also signed the agreement.