In the presence of Chinese President Xi Jinping and Dominican President Danilo Medina, Zhang Qingsong, President of China Eximbank, and Donald Guerrero, Minister of Finance of the Dominican Republic, signed The Memorandum of Understanding on Cooperation Mechanism Between the Export-Import Bank of China and the Dominican Republic Represented by the Ministry of Finance in Beijing on 2 November 2018. According to the MOU, the two sides set up a framework for ways and areas of cooperation, laying a solid foundation for future cooperation between the two parties. 

The signing of the MOU heralds closer partnership between China Eximbank and the Ministry of Finance of Dominica, and plays an important role in raising bilateral relations to new heights in the new era.

The People’s Republic of China and the Dominican Republic recognized each other and established diplomatic relations at ambassadorial level on 1 May 2018. Since entering into diplomatic ties, China Eximbank has been working in close communication and collaboration with the Dominican Ministry of Finance and other relevant authorities and institutions on potential cooperation projects and financing models. Going forward, China Eximbank will continue to leverage its strengths to promote win-win cooperation with Dominica to achieve common development and contribute its part to an ever-deepening relationship between the two countries.