El Salvador and China announced the start of negotiations to establish a free trade agreement (FTA) between both nations, authorities from both countries reported.
Nayib Bukele, who won a controversial re-election at the beginning of the year to govern until 2029, had already announced in 2022 that China and El Salvador would begin talks to establish an FTA “as soon as possible.”
El Salvador, which established relations with the Asian giant in August 2018, has received million-dollar non-reimbursable cooperation in infrastructure projects in recent years, including a library built in the historic center of the capital San Salvador.
The Salvadoran vice president-elect, Félix Ulloa, said last week, during a visit to China, his desire to “find an ally” in his economic growth projects, through tourism, renewable energy and technology.
“I am pleased to recognize that this is one of the most ambitious and complete negotiations that El Salvador has undertaken in recent years,” said the Minister of Economy of El Salvador, María Luisa Hayem, during the launch event, where the vice minister participated. of Commerce of China, Wang Shouwen.
In 2023, trade between El Salvador and China will exceed $1.8 billion. The Asian nation is El Salvador's third trading partner, behind the United States and Guatemala.
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