Photo credit: New York Times
Minister of Foreign Affairs Carlos Castaneda, has announced that the Chinese Government agreed to compensate for the shortfall of Salvadorian export revenue generated from goods sold to Taiwan, by importing these goods to China. El Salvador’s official withdrawal from the El Salvador-Honduras-Taiwan Free Trade Agreement (TLC), which structured trade between El Salvador and Taiwan since 2008, is now in view as the Taiwanese and Salvadorian Governments have negotiated a 90-day period to fulfil remaining trade obligations between the two countries. The termination of the TLC, set for 30 March 2019, followed acting President Sanchez Céren’s historical decision to renounce Taiwan in recognition of the Republic of China, upending decades of diplomatic relations with Taiwan. El Salvador’s President-Elect Nayib Bukele, however, appears to be open to a reconsideration of the country’s evolving relationship with China, as statements by Bukele and his team suggest that he may favour rapprochement with the United States and is critical of the sitting Administration’s recent alignment with China.
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