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Tegucigalpa – China continues to be tied to Honduras in political and economic relations, following the recent commemoration of the first anniversary of the Honduran President’s visit. Xiomara Castro visits Beijing and signs a series of memorandums of understanding The memorandums of understanding and agreements between the two countries have reached such an extent that both sides are about to complete the negotiations to sign a free trade agreement.
– Xiomara Castro’s government insists on the Belt and Road Initiative, through which China hopes to challenge the United States.
——Free trade agreement negotiations are still ongoing and are expected to be completed this year.
last week Sixth round of talks ends in Chinese capital A trade agreement was reached between government teams from the Asian giant and the Central American country, which addresses market access and rules of origin.
Beijing views the Liberal-led Honduran government as an enthusiastic collaborator because the two sides share common goals in foreign and trade policy.
The Castro government has stuck to its course of seeking greater independence from the United States because it resents what it sees as excessive interference by Washington in matters of national sovereignty.
At the same time, Beijing is pursuing a policy of engagement with countries that are tightly controlled by the White House, first by seeking to break with Taiwan and then by maintaining closer economic and commercial ties with the Asian country.
In fact, before the break with Taiwan in Tegucigalpa, China was already one of the main trading partners, as Honduras imported a range of goods from the Asian country worth more than $1 billion, although Honduran exports to the giant were negligible, according to official statistics, $100 million.
Beijing and Tegucigalpa seek to complete negotiations and sign the trade agreement this year and then transfer it to their respective legislative powers so that the instrument regulating bilateral trade can enter into force.
Alliance with Beijing on strategic projects
But the Honduran government, under the leadership of the Liberal Party, Signing of a memorandum of understanding with Beijing Among them is a commitment to participate in the Belt and Road Initiative, Beijing’s vast plan to promote ports, airports and other infrastructure projects to link its new partners with China.
The memorandum commits Honduras to connectivity in infrastructure areas such as roads, bridges, civil aviation, ports, energy and telecommunications.
But it’s not just the infrastructure part, the agreement also stipulates that the two sides will seek financial connectivity, and to this end the two governments will encourage institutions in the sector to support each other.
One of China’s strategic goals is to replace or reduce the dollar’s global influence in the world economy, and to that end, China is working with its allies to promote a currency alternative and a system to regulate global banking (the Society for Worldwide Interbank Financial Telecommunication).
Defending free trade and APP
The memorandum of understanding states that Honduras is committed to defending free and open trade and “following market principles and promoting public-private partnerships.” PD).
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