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India to increase trade exchanges with El Salvador

San Salvador, Feb 20 (Prensa Latina) India and El Salvador are working to increase their trade exchanges in 2024, an official source said today. Khalid Khan, representative of the Federation of Indian Export Organizations (FIEO) highlighted during his visit to the country 'the vast potential of this rapidly growing economy' and anticipated the desire to increase trade.

In the 2022-2023 financial year, bilateral trade between India and El Salvador reached 126 million dollars, and the objective is to increase that figure, said Khan, quoted by local media.

Recently, a delegation of 20 Indian companies met with Salvadoran officials and held a business conference with local entrepreneurs to explore new business opportunities.

The Asian companies’ representatives met with the Minister of Economy, Maria Luisa Hayem, and with the president of Invest in El Salvador, Salvador Gochez, and participated in business rounds with national entrepreneurs.

The main products exported from the Asian nation to the Central American region include pharmaceuticals, textiles (especially cotton yarns and fibers), engineering products, automobiles, motor vehicles and cars, automobile components and parts, iron and steel, machinery and industrial parts, and electrical machinery and equipment. Meanwhile, India imports mainly wood, charcoal, coffee and aluminum scrap from Central America.