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LatinNews Daily - 26 October 2018

In brief: El Salvador/Cuba

* The presidents of Cuba and El Salvador, Miguel Díaz-Canel and Salvador Sánchez Cerén respectively, have held a meeting in Cuba during which they pledged to strengthen economic and trade cooperation. This was Sánchez Cerén’s second visit to the island as president, having previously visited in 2015. Among the agreements to emerge was an additional protocol to the bilateral partial scope trade agreement (AAP), first inked in 2011 and which entered into force in 2012. Among other things, the new protocol provides for new products to be subject to preferential tariffs. 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 (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 the Salvadorean presidency, since the AAP took effect, El Salvador’s exports to Cuba have grown 400%, totalling US$13.5m in 2017. In the first nine months of 2018 exports reached US$11.8m, up 55.3% compared with the same period last year.

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