El Salvador and Uruguay seek new trade relations and investments

As part of the economic diplomacy strategy to search for investment opportunities and position El Salvador in international markets, last week the Ministry of Foreign Affairs held a virtual forum to expand business exchanges between unions and companies from both nations.

The Embassy of El Salvador in Uruguay and the Chamber of Commerce and Services of that South American country also participated in the organization of the forum.

During the event, Deputy Foreign Minister Adriana Mira explained that the goal is to identify and establish development alliances between countries, in order to contribute to each of the economies.

In addition, she pointed out that the meeting with the investors represents an important space that enables the identification of the potentialities that both countries possess, and that, in turn, gives rise to the establishment of commercial and investment contacts and alliances.

The official highlighted that El Salvador is among the best destinations in the region for the promotion of productive projects thanks to its privileged geographic location, its interconnection with Central America and the world, in addition to its infrastructure and trade agreements and incentives.

Investors had the opportunity to learn about the catalog of export products that El Salvador has, which includes agro-industrial items, plastics and rubber, food and beverages, chemical-pharmaceutical, paper and cardboard, machinery, metals, clothing and textiles, among others. of interest to Uruguayan companies and merchants.

Similarly, the space allowed to provide more detail on the opportunities offered by the Uruguayan market to locate merchandise as well as for Salvadoran investments, with a view to boosting economic flows in both directions.

Ana Laura Fernández, the director of the Department of International Trade of the aforementioned South American entity, said: «We are looking for increased trade and support for companies from both countries, and we make ourselves available to provide advice and follow-up.»

According to the Central Reserve Bank (BCR) database, in 2021, bilateral trade exceeded $57 million.