Talk:Foreign relations of the Dominican Republic

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Dominican Republic and Venezuela relations

This article was the subject of an educational assignment in Spring 2015. Further details were available on the "Education Program:Manhattanville College/International Trade (Spring 2015)" page, which is now unavailable on the wiki.

i am currently including this piece of information to show the relationship that the Dominican Republic has with Venezuela.

Venezuela

The Dominican Republic and Venezuela have kept a very close relationship throughout the early 2000s. Currently, Venezuela is the biggest seller of oil to the Dominican Republic government. In 2003, Venezuela was selling to the Dominican Republic approximately 110,000 barrels of oil per day; more than 75% of the daily oil consumption in the country, including cars, factories and electrical plants. Today, Dominican Republic gets around 50,000 barrels of oil a day from Venezuela under the Petrocaribe agreement, which includes all of the Caribbean Islands. Due to the Dominican economy, the country cannot afford all this oil through pure cash.In order to pay for the Venezuelan oil, the Dominican Government pays them not only in cash, but also in exports, such as black beans. The Dominican government has to export so many beans to Venezuela - Over 10,000 tons,- that it had to start to import some beans from foreign countries to provide the population with beans. The Dominican Republic currently represents a 1.5 billion dollar year revenue for Venezuela in the oil business alone, which is the reason why the Dominican Republic and Venezuelan government have such a strong connection now how both countries are getting what they need from each other.

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^Hey, cleaned up the grammar a bit. Only suggestions I'd offer is a source on the black bean payments and the rate of exports... Is it 10,000 tons a year? a month? a day?1993MJ (talk) 05:08, 27 April 2015 (UTC)[reply]

References

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[1] ttp://www.csmonitor.com/World/Americas/2013/0327/Petrocaribe-Paying-beans-for-Venezuelan-oil

[2] ttp://www.ipsnews.net/2003/09/venezuela-dominican-republic-oil-a-pawn-in-bilateral-relations/

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