Since August 2018, El Salvador broke off diplomatic relations with Taiwan and took the decision to formalize cooperation with the People’s Republic of China, bringing the total to 177 countries that have approved UN General Assembly Resolution 2758, which recognizes the existence of “one China”. This is of utmost importance since it is intended to generate multiple benefits for El Salvador in terms of investment and economic cooperation.
It is important to note that even though this event took place during the presidential term of former President Salvador Sánchez Cerén, the current President of the Republic of El Salvador, Nayib Bukele, met on Tuesday, December 3rd with Xi Jinping and Li Kegiang, President and Prime Minister of the People’s Republic of China, reaffirming with this official visit the ties that the former President established last year. At the meeting, agreements were signed on agricultural cooperation, trade fluidity, investment and economic cooperation between the two countries, as well as on facilitating group trips of Chinese tourists to the Central American country. In addition, drinking water and wastewater assistance projects were signed in Surf City, Lake Ilopango and the National Library of El Salvador.
Given the above, it is possible to determine that the agreements made will bring more sources of employment, tourism, improved education and economy, which will be the product, not only of this relationship of cooperation, but also of the countries that are allied to the People’s Republic of China and the great investors that support it.
Associate
García & Bodán
El Salvador