Santo Domingo — As geopolitical friction escalates across the Middle East between major global powers and regional actors, a leading Spanish business organization in the Dominican Republic has thrown its weight behind a new national initiative spearheaded by President Luis Abinader. The Spanish Chamber of Commerce in the Dominican Republic, widely known by its local acronym Camacoes, announced its formal support for Abinader’s call for a cross-sector National Agreement, designed to align all branches of government and private industry around a coordinated strategy to mitigate the economic fallout from intensifying international tensions involving the United States, Israel, and Iran.
In a public briefing this week, Camacoes president Paco Pérez outlined the immediate risks that mounting instability in the Persian Gulf poses to the Dominican Republic’s open, trade- and tourism-reliant economy. Pérez emphasized that the volatility has already started to ripple through key national sectors, with tourism — one of the Dominican Republic’s largest sources of foreign revenue and employment — facing outsized pressure. The interconnected global energy market has pushed aviation fuel costs sharply higher in recent weeks, while growing uncertainty among international travelers has created a weaker outlook for bookings, a shift that could erode the Caribbean nation’s competitive edge in the global leisure travel market, Pérez explained.
Beyond its statement of support, the chamber put forward a series of targeted policy recommendations to be included in the final National Agreement framework. Among the top priorities identified are concrete measures to counter extreme swings in global crude oil prices, speed up the country’s planned transition from fossil fuels to renewable energy sources, cut bureaucratic red tape to streamline cross-border customs procedures, and build up strategic stockpiles of critical essential goods. These steps, the organization argues, will help curb ongoing domestic inflation and shield household consumers from unexpected price shocks.
Camacoes also reaffirmed the commitment of its member Spanish companies to stand alongside the Dominican government in addressing these challenges. Spanish firms operating in the country are ready to contribute cutting-edge technology and specialized professional expertise to advance progress on both energy transition and improved logistics management, the chamber confirmed.