In a notable advancement, El Salvador has completed the first round of negotiations for a Free Trade Agreement (FTA) with the People’s Republic of China, as reported by the Ministry of Economy (Minec). The talks, concluded in the last week of August, addressed several critical areas aimed at enhancing economic relations between the two nations.
According to Ministry of Economy, the negotiations covered essential topics including the protection of intellectual property, facilitation of trade, and the promotion of Salvadoran products within the Chinese market. Key areas of discussion also included customs legislation, trade facilitation, sanitary measures, and technical regulations. The agreement is expected to support e-commerce growth, recognize and assist small and medium-sized enterprises (SMEs), and foster cooperation to boost economic capacities.
The negotiations began earlier this year, following an announcement in April by El Salvador’s Minister of Economy, María Luis Hayem, and China’s Vice Minister of Commerce, Wang Shouwen. This diplomatic effort underscores the strengthening ties and cooperative spirit between El Salvador and China.
The successful completion of this initial negotiation round marks a promising step forward in the trade relations between the two countries, reflecting their commitment to mutual economic development and partnership.