BVI and Dominican Republic Explore Caribbean Economic Hub to Boost International Trade

As global supply chains continue to face mounting pressure from economic uncertainty, the British Virgin Islands (BVI) and the Dominican Republic have initiated high-level talks on the potential development of a regional economic hub to strengthen international trade across the Caribbean.

In a bilateral meeting held on the margins of the 8th Meeting of the Forum of the Countries of Latin America and the Caribbean on Sustainable Development, British Virgin Islands Special Envoy Mr. Benito Wheatley met with Dominican Republic Vice Minister for Economic Affairs and International Cooperation, Hon. Hugo Francisco Rivera Fernández. The talks took place in Santiago, Chile between March 31 and April 4.

Central to the discussion was the role of the Dominican Republic as an emerging economic linchpin in the Caribbean. Vice Minister Rivera emphasized his country’s expanding trade and transportation infrastructure, noting its strategic connections to North America, Central America, South America, and Europe. He outlined how these networks could offer valuable opportunities for smaller Caribbean economies—such as the BVI—seeking to diversify their trade relationships and enhance resilience amid global market volatility.

Mr. Wheatley echoed these sentiments, highlighting the importance of continued cooperation and the potential for closer commercial ties. “It was a pleasure to engage with Vice Minister Rivera to continue BVI-DR discussions on strengthening economic cooperation,” said Wheatley. “The impressive economic growth and development of the Dominican Republic over the past decade has seen the country emerge as a critical economic hub in the Caribbean. As a close neighbour, the British Virgin Islands can benefit from the Dominican Republic’s regional and international trade and transportation links.”

As part of the evolving dialogue, both parties discussed the possibility of a formal trade mission from the BVI to the Dominican Republic, aimed at laying the groundwork for expanded bilateral commerce.

The talks mark a strategic step forward in Caribbean regional integration, underscoring how small and mid-sized economies are working together to navigate global economic headwinds and build sustainable trade partnerships.