In a collaborative effort between the Ministry of Economy of El Salvador and the European Union delegation in the country, a seminar is underway to emphasize the significance of promoting Salvadoran exports to the European market.
The European Union Ambassador in El Salvador, François Roudié, highlighted the ten-year-old partnership, stating, «Today’s event is a great opportunity to discuss our association agreement. This agreement has been instrumental in advancing a more sustainable trade approach.» He further pointed out that exports from Central America to the European Union have surged by 150% since the agreement’s inception, with EU imports increasing by 70%.
«From 2019 to 2022, Salvadoran exports to the European Union experienced a remarkable 67% growth, soaring from $167 million to $288 million,» revealed the Minister of Economy of El Salvador. «In terms of businesses, we have seen a notable increase, with the number of exporting companies rising from 160 in 2013 to 250 in 2022. We recognize the pivotal role of the association agreement in enhancing our export capabilities and diversifying our market niches.»
Facilitated by the German Society for International Cooperation (GIZ), the seminar aims to provide insights into leveraging the existing trade agreements.
The Central America-European Union Association Agreement serves as a comprehensive legal instrument, aiming to strengthen political, economic, and social ties between the two regions.
President Nayib Bukele’s government is actively supporting Salvadoran enterprises by offering technical assistance and guidance to maximize the benefits of current trade agreements.
Margarita Quintanar, the Director of Trade Treaties Administration in El Salvador, highlighted the key European destinations. «Among the 27 countries, five major players stand out: Spain, Italy, the Netherlands, Germany, and Belgium,» she affirmed.
As Salvadoran exports continue to flourish, this collaborative effort reflects a commitment to fostering sustainable economic growth and diversifying trade partnerships. The seminar serves as a testament to the positive impact of international cooperation on the Salvadoran economy and its potential for further expansion in the European market.