How to do business between Dominican Republic and Costa Rica?

Essay by onmarketUniversity, Master'sA+, February 2009

download word file, 18 pages 5.0

Executive SummaryDestination: Dominican RepublicCentral America and the Dominican Republic (Caribbean) are rapidly becoming the hot new hubs for international free trade. For this reason, it is important to take into consideration the following tips to do business effectively with Dominican Republic.

Quick country facts: Spanish is the primary language, but English is spoken as a second language. Learning a little Spanish would be recommended. All papers must be translated into Spanish. Culture a blend of European Spanish and Latin American. The family forms the basis of stability. Stable economic indicators and is a member of CAFTA.

When in Dominican Republic: Arrive on time for meetings. Dominicans strive for punctuality, but they do not always achieve their goal. Business appointments are required and are often scheduled on short notice. The first meeting is usually formal. Networking is a very important part of businesses. Trust is crucial to developing relationships. The dress code in business settings is usually formal.

The standard way to greet is a handshake, and physical contact and expressiveness is predominant in Dominican society.

After closing the deal: It is very important to maintain the business relationship after closing the deals. Be prepared to put some time and effort into this. Continuing monitoring for any changes in legal and economical situation is a must just like any other foreign market.

Costa Rica's CultureTips on Doing Business in Costa RicaCountry Background"Costa Rica's history and culture traced its roots to a variety of people from the different continents who became part of this diverse country since they arrived. The most popular cultural activities in the country include going to museums, theater, libraries, and specially sports events. Football is the favorite hobby of the people in Costa Rica, and fans are loyal to their teams.

The Costa Rican population is comprised by...