SAN SALVADOR, Sept 15 (NNN-PRENSA LATINA) — El Salvador increased exports to the People’s Republic of China (PRC) by 536.4 percent up to July, even without a Free Trade Agreement (FTA), according to local media.
Some experts point out that the FTA, which according to the authorities concluded its first phase of negotiation, should boost bilateral trade and strengthen relations between both nations.
The most sold input to the Chinese market was sugar cane after China absorbed what was no longer exported to Taiwan after the recognition of a single China.
During 2023, Salvadoran products for a value of US$7.4 million reached the market of that Asian nation, but in 2024, in only seven months, the volume of exports from El Salvador reached US$47.1 million, especially for the sale of US$38.5 million in sugar.
A report by Diario El Salvador stated that this figure places the Asian nation as the ninth destination of Salvadoran exports, with 1.2 percent of the total, where products such as sweaters, pullovers, cardigans, vests and similar articles, which totaled 4.9 million, and aluminum waste also stand out.
When the intention of the FTA with China was announced at the end of last year, local trade unions and business sectors pointed out that such an initiative could bring great opportunities for the country, according to the publication.
We are already addressing the issue as an export sector, we have requested the active participation of businessmen in this process, and we consider that it can be fast because it is not so difficult to make the FTA in the sense that there is already a goal, said Silvia Cuellar, president of the Salvadoran Exporters Corporation (Coexport). — NNN-PRENSA LATINA
