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Business Profile
Economy: Much of the land is under cultivation, with bananas, coconuts, citrus fruits and cocoa as the main produce. The banana industry, which is the country’s main export earner, has been under serious pressure following a World Trade Organization ruling outlawing the preferential access to its main European markets that Dominica had previously enjoyed. This has given added urgency to the Government’s efforts to diversify the country’s economic base and improve the country’s inadequate infrastructure. At present there is a little light industry producing vegetable oil, canned juices, cigarettes, soap and other consumer goods largely for domestic consumption. In the service sector, tourism initially developed rather more slowly in Dominica than elsewhere in the Caribbean (mostly because of the lack of an international airport) but it has become a vital component of the economy. In recent years, the Government has been trying to promote an offshore financial services industry.
Dominica is a member of the Caribbean economic bloc CARICOM and of the Organisation of East Caribbean States. Substantial overseas aid is provided by the USA, the UK and the EU. The island’s largest trading partners are the UK, the USA, Canada and Japan; Barbados and Guadeloupe are the largest within the Caribbean region.
Business: Government office hours: Mon 0800-1300 and 1400-1700; Tue-Fri 0800-1300 and 1400-1600.
Commercial Information: The following organisations can offer advice: Dominica Association of Industry and Commerce (DAIC), PO Box 85, 6 Cross Lane, Roseau (tel: 448 2874; fax: 448 6868; e-mail: daic@marpin.dm); or National Development Corporation (see Contact Addresses section).
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