Far left: A dancer performs during a Chinese New Year celebration at El Salvador National Library on February 14, 2024 in San Salvador. Photo: VCG

China and El Salvador held their inaugural joint trade and economic committee meeting in San Salvador, the capital of El Salvador on Tuesday, with both sides expressing a shared commitment to accelerating bilateral free trade agreement (FTA) negotiations.

"China is willing to accelerate the bilateral FTA negotiations to reach an agreement soon, providing policy support and institutional assurance for trade and investment between our businesses," said China's Vice Minister of Commerce Wang Shouwen at the meeting.

Wang emphasized that China looks forward to leveraging complementary strengths with El Salvador, particularly in infrastructure, standards, and certification collaborations.

He noted that China is keen to back capable Chinese enterprises in contributing to El Salvador's key sectors and projects, supporting local economic development and improved livelihoods. 

"We also hope El Salvador provides clear policy guidance and a fair, competitive environment for Chinese businesses," he added.

El Salvador's Minister of Economy María Luisa Hayem emphasized El Salvador's commitment to deepening economic ties with China, and expressed hopes for expedited market access for Salvadoran agricultural products and conclude FTA negotiations to foster balanced trade growth.

"El Salvador actively welcomes Chinese investment in manufacturing, services, and tourism infrastructure, pledging to foster a supportive business environment. The country also encourages Salvadoran companies to participate in Chinese expos and looks forward to exploring practical business opportunities through closer cooperation," Hayem said.

Since diplomatic ties were established over six years ago, leader-level exchanges have guided China-El Salvador economic relations. The committee meeting was held to realize this vision, driving practical cooperation for mutual benefit, according to Wang.

"FTA has long been a central focus in China-El Salvador relations, with both governments showing strong commitment to advancing this goal," Pan Deng, director of the Latin American and Caribbean Region Law Center at China University of Political Science and Law, told the Global Times on Wednesday. 

"The start of the first FTA negotiations in April marked a significant step forward," he added.

Pan pointed out that El Salvador's neighboring countries, Honduras and Nicaragua, have signed FTAs with China earlier and reaped substantial benefits, which has strongly influenced El Salvador's pursuit of an FTA with China.

"The swift entry of local products like beef and shrimp into China under these agreements, has shown real benefits to farmers, fishers, exporters, and economic sectors, accelerating El Salvador's determination to pursue its own FTA with China," he said.

Pan noted that FTA negotiations are complex, demanding collaboration across multiple sectors and focused attention on key industries. Since the first round negotiation in April, China and El Salvador have made steady progress, advancing from broad objectives to specific priority areas, rule-setting, and institutional frameworks, Pan said.