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Caribbean & Central America - June 2018 (ISSN 1741-4458)

Economic Highlights

El Salvador/Cuba: On 21 May El Salvador’s Frente Farabundo Martí para la Liberación Nacional (FMLN) government led by President Salvador Sánchez Cerén and its Cuban counterpart led by President Miguel Díaz-Canel inked a document expanding a bilateral partial scope trade agreement (AAP), which entered into force in 2012. Signed by El Salvador’s economy minister, Luz Estrella Rodríguez, and Cuba’s deputy foreign trade & investment minister, Ileana Núñez Mardoche, the document states that El Salvador is seeking to expand the AAP to include products such as honey, flour, juices, prepared foods such as soups, medicines, plastic containers, furniture, textiles, and products from the fishing sector, among others. The Cuban government is due to present a list of additional products that it wants to be included. The APP, which also includes provisions on issues such as sanitary and phytosanitary measures and the resolution of trade disputes, was first proposed during the historic visit of former president Mauricio Funes (FMLN, 2009-2014) to Cuba in October 2010 – the first ever by a Salvadorean leader. When it first took effect, the tariff reduction applied to 618 Cuban products and 433 Salvadorean products, with 71% of Salvadorean products able to enter Cuba duty free. According to a press release by El Salvador’s economy ministry, the negotiation process to include new products will extend until September. The press release also notes that El Salvador’s exports to Cuba in 2017 reached US$13.5m, up 24% on the previous year.

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