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Salvador-US FTA Is
Unsuccessful
The results of the free trade
agreement between El Salvador
and the United States are
disappointing because at the end
of 2006, export operations only
grew 3.5 percent, economist
Evelio Jesus Ruano adjudged on
Monday.
Ruano, a specialist from the
Salvadoran Sustainable
Development Institute, regarded
the agreement as disastrous,
because it has failed in its
attempt to jumpstart the
economy, and has only succeeded
in mumbles, especially in the
agrarian sector.
Ruano explained that sales to
other countries are too little,
and below those of other Central
American countries, and the
trend points to lower levels.
In the particular case of El
Salvador, exports were reduced
to 12.95 percent, according to
the Central Reserve Bank, and
advantages were achieved only by
the largest corporations.
Perspectives for Salvadoran
finances are not inspiring for
2007, due to the risk of
deceleration of US capital.
However, despite the bleak
analysis, Economy Minister
Yolanda de Gavidia Mayora
considers local industry would
be lost without the agreement
with Washington.
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