An event celebrating the first anniversary of the establishment of diplomatic relations between China and Honduras was held at the Chinese embassy in Tegucigalpa on Sunday. Over 400 attendees, including key officials from both nations, gathered to reflect on the progress made over the past year and to express optimism for the future of China-Honduras relations.
Enhanced Trade and Economic Cooperation
Since the formal establishment of diplomatic ties one year ago, China and Honduras have witnessed tangible results across various fields. Chinese Ambassador to Honduras, Yu Bo, highlighted a 21% increase in total trade volume between the two countries in 2023, reaching $1.91 billion. Notably, Honduras’ exports to China have nearly tripled, bolstered by China’s General Administration of Customs allowing imports of multiple Honduran products, including fresh bananas, coffee beans, and aquatic products. This development elevated Honduras’ exports to China to $81.17 million in 2023.
“Chinese can be deep partners in the development of Honduras,” remarked Honduran Minister of Economic Development, Fredis Cerrato, in an exclusive interview. “In a year, we have made much progress. We are still in the honeymoon phase.”
Advancing Cooperation on Multiple Fronts
During the celebration, several significant agreements were signed, including a cooperation agreement allocating $275 million of Chinese funding to help build schools across Honduras. Honduran Foreign Minister Eduardo Enrique Reina emphasized that cooperation is also advancing in fields such as investment, technology, infrastructure, and media.
A new round of negotiations on the China-Honduras Free Trade Agreement (FTA) was recently held in Beijing. Since July 2023, both countries have conducted four rounds of FTA negotiations, with the latest discussions achieving positive progress in trade in goods, services, investment, and rules.
Reina expressed confidence in the continued growth of bilateral relations. “We believe that the relations between China and Honduras will continue to grow in culture, economy, and many other fields. We will also support each other in multilateral cooperative development initiatives,” he said.
Looking Forward
The first year of diplomatic relations between China and Honduras has set a strong foundation for future cooperation. The significant increase in trade and the ongoing negotiations for a free trade agreement signal a deepening partnership. As both nations continue to collaborate on various initiatives, there is optimism that the relationship will yield mutual benefits and contribute to the prosperity of both countries.
Reference(s):
One year of China, Honduras diplomatic ties: More results, big growth
cgtn.com
