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Honduran shrimp to enter Chinese market duty-free

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On 7 February, within the framework of the Honduras-China FTA negotiations, Honduran Minister of Economic Development Fredis Cerrato and Chinese Minister of Commerce Wang Wentao, on behalf of the two governments, signed the "Early Harvest Arrangement of the FTA" by video. As a result, Honduran shrimp exports to China will enjoy tariff-free treatment.

 

Honduran website "hondudiario.com" reported that according to the Early Harvest Arrangement of the Honduras-China FTA, Honduran shrimp can enjoy tariff-free access to the Chinese market until the FTA between the two countries comes into force, "a step towards deeper trade integration and economic cooperation". This is a step towards deepening trade integration and economic cooperation."

 

It is worth noting that Honduran shrimp farming accounts for about 2% of gross domestic product (GDP) and the industry employs nearly 10,000 people in the workforce.

 

According to the Honduran Ministry of Economic Development, the signing of the early harvest arrangement reflects the "trust and goodwill" between Honduras and China, with the aim of enjoying the fruits of FTA cooperation well before the conclusion of the FTA negotiations.

 

In addition, the Honduran Ministry of Economic Development also said that the signing of the Early Harvest Arrangement was the result of a meeting between Zelator and Wang Shouwen, China's Representative for International Trade Negotiations and Vice Minister of the Ministry of Commerce, in November last year, during which the two sides discussed a number of issues related to the negotiation of the FTA between the two countries, with an emphasis on the issue of access to the Chinese market for Honduran shrimp.


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