Fifth Trade Policy Review of El Salvador
By Eproint
The World Trade Organization (WTO) Fifth Trade Policy Review of El Salvador provided an opportunity to assess and enhance the wide range of trade policies and practices of El Salvador since its last review in 2016 and acknowledge the challenges it faces.
The WTO commended El Salvador for the resilience of its economy and its quick recovery in the aftermath of the COVID-19 pandemic. Many noted the economy's substantial growth in 2021, driven by strong domestic and external demand and an increase in remittances. They also highlighted the rapid expansion in exports of goods and services.
Members also recognized the important efforts undertaken by El Salvador to improve the business environment, promote investment and enhance innovation. In this regard, they welcomed the adoption by El Salvador of several initiatives such as the Trade and Investment Policy 2020-50, the National Trade Facilitation Strategy 2023-27, the National Digital Agenda 2020-30, and the Productive Innovation Ecosystem. They also recognized efforts towards customs modernization, trade facilitation, risk management and the promotion of MSMEs.