In a landmark step to boost cross-border economic collaboration, the foreign ministries of the Dominican Republic and Guatemala have formalized an agreement to establish a joint Political and Business Forum, designed to deepen trade ties and unlock new investment opportunities between the two Latin American nations.
The memorandum of understanding was signed during an official ceremony by Roberto Álvarez, Dominican Minister of Foreign Affairs, and his Guatemalan counterpart Carlos Ramiro Martínez Alvarado. Once operational, the forum will serve as a structured, recurring platform that brings together public sector leaders and private business delegates from both countries. Its core mandates include mapping untapped commercial opportunities, streamlining access to each nation’s consumer and industrial markets, and advancing collaborative investment projects that benefit both economies.
Beyond facilitating direct business connections, the new bilateral mechanism will also promote the sharing of critical industry data, practical policy experiences, and proven regulatory best practices across three key areas: trade process simplification, national commercial promotion strategies, and the design of competitive investment incentive frameworks.
Per the terms of the agreement, the forum will hold full plenary meetings once every year, with the host nation rotating between the Dominican Republic and Guatemala. A permanent dedicated working group will also be established to monitor progress on agreed initiatives, coordinate follow-up actions, and ensure consistent implementation of forum outcomes.
Lead officials from both governments have framed the new forum as a transformative milestone in bilateral relations, noting that it will not only deepen longstanding economic ties but also create more pathways for private sector engagement in shaping cross-border cooperation. Notably, the initiative is structured to maximize the trade and investment benefits already available under the Dominican Republic–Central America Free Trade Agreement (DR-CAFTA), marking the first time the two countries have launched a standalone bilateral framework exclusively focused on expanding trade and investment collaboration.