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Latin America Investment News on Viva Tropical

El Salvador Explores South American Markets

Article Summary:

Entrepreneurs in El Salvador are being encouraged to diversify export locations beyond their traditional preferences for the United States. Hot new export markets include Chile, Ecuador, Peru, and Colombia.

Original Article Text From El Salvador via Google Translate :

The country flirts with South America

For every $ 10 that exports El Salvador, $ 5 is for the U.S. market. However, the export sector business associations and the government itself, are aware of the importance of expanding and diversifying trade opportunities with other countries and areas.

Therefore, we now seek to turn the rudder, and get more trade relations with Chile, Colombia, Peru and Ecuador, markets which have a high trade balance deficit.

Trade opportunities with these countries were presented yesterday at a seminar workshop organized by the Exporters Corporation of El Salvador (Coexport), next to Al-Invest program, the Agency for Promotion of Exports and Investments (Proesa) and the Agency the United States for International Development (USAID).

“Traditionally the country’s trade has shifted his gaze over the North, but we are evaluating objectively the new business scenario, with interesting markets such as Chile, Ecuador, Peru and Colombia, which together represent a market of 80 million shoppers a high purchasing power, “said Francisco Bolanos, president of Coexport.

He added that trade is a scenario by which we must go, especially because these countries already have free trade agreements. With the exception of Ecuador, which recently initiated a negotiation process to establish a Partial Scope Agreement (PSA).

According Proesa, exports of El Salvador totaled $ 12, $ 20 and $ 40 million in 2009, 2010 and 2011, respectively.

Geovanni Berti, director of Proesa, said that in the past three years exports have tripled, but the $ 40 million recorded in 2011, do not represent even 1% of total exports for the country, which was $ 5.309 million.

As for imports, they spent $ 400 million in 2009, to $ 550 million in 2011, which represents 5.4% of total imports of the country.

The Salvadoran business products sold in these countries are paper and cardboard, metal mechanics, miscellaneous manufacturing, agribusiness, plastics, rubber and textiles, among others.

The current goal is not only increasing the number of export products, but also companies, however, to enter these aggressive market, employers need to be trained in quality, innovation and productivity, in order to go racing competition and receive .

Link to Original Article:

From El Salvador

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