A European trade delegation, which recently visited the country, talked with the Minister of Economy, María Luisa Hayem, about the promotion of bilateral trade, facilitation, investment promotion, sustainable production, and regional integration.
The Minister of Economy, María Luisa Hayem, met with representatives of the Department of International Trade of the European Union (EU Trade) who arrived in the country to discuss issues aimed at deepening bilateral trade.
The official indicated that the main topics discussed with the European delegation were: boosting bilateral trade, trade facilitation, investment facilitation and promotion, sustainable production, and regional integration.
The minister also informed the representatives of the trade bloc on the actions that the Government of El Salvador is implementing through the inter-institutional working group of the Government to support Salvadoran entrepreneurs to comply with the requirements of the European Regulation on Deforestation Free Products.
In this sense, he also shared with them the progress made by national exporters in the implementation of environmental and social sustainability practices.
“We continue working to open more opportunities for our sectors under the Association Agreement between Central America and the European Union, and thereby generate more trade, investment, and jobs,” commented Minister Hayem through the social network “X”.
El Salvador and the European Union have completed 10 years since it began its association agreement, and according to data from the Minec only during the period from 2019 to 2022, exports of national products to the bloc recorded a rebound of 67%.
According to the official, the number of companies trading towards the old continent also increased and by 2022, 250 exporters of various products and services were registered.
“We recognize the importance and potential of the agreement to be able to boost our exportable supply, but also to be able to diversify our niches,” said the holder regarding the trade relationship, and the introduction of national products in the European market.
On the other hand, the president of the Corporation of Exporters of El Salvador (Coexport), Silvia Cuellar, stressed that trade with the European Union shows a behavior to expand trade niches and said that currently, this market is demanding new products such as those that make up the category of nostalgic, handicrafts, snacks, and hammocks.
El Salvador entered along with the rest of Central America into the trade agreement with the European Union in 2012, and since then trade between the two regions has doubled, and only in 2022 recorded an increase of 35%.
Source: Diario El Salvador
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