Trade Policy Review El Salvador

Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size.

The Trade Policy Review Mechanism, a permanent feature of the World Trade Organization (WTO), is designed to contribute to improving adherence by all WTO members to rules, disciplines, and commitments made under the Multilateral Trade Agreement. This volume in the series provides information on the trade policies, practices, and macroeconomic situations of El Salvador. Each Trade Policy Review is expertly prepared after in-depth analysis of an individual nation by the WTO s Trade Policy Review Board."

“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO's Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member's major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of El Salvador.

The Trade Policy Review Mechanism, a permanent feature of the World Trade Organization (WTO), is designed to contribute to improving adherence by all WTO members to rules, disciplines, and commitments made under the Multilateral Trade Agreement. Each volume in the series provides information on the trade policies, practices, and macroeconomic situations of a specific WTO member nation.

The Trade Policy Review Mechanism, a permanent feature of the World Trade Organization, is designed to contribute to improving adherence by all WTO Members to rules, disciplines & commitments made under the Multilateral Trade Agreement. The assessment takes place, to the extent relevant, against the background of the wider economic & developmental needs, policies & objectives of the Member concerned, as well as its external environment. Once the publishing cycle for the 133 member group is implemented, expect reviews of the U.S., Japan, European Union, & Canada every other year; the sixteen next largest trading countries every 4-5 years; all others every six years. Ordering information is provided for the English language texts.

El Salvador made a firm strategic choice to develop as an open market economy decades ago, and it has long adopted an open attitude towards FDI. A large number of reforms have been implemented in the past decades that reflect this choice: regional economic integration has been fostered and crucial free trade agreements have been concluded, the US dollar was adopted as legal tender, competition rules have been enforced and key segments of the economy have been privatised. This strategy has allowed El Salvador to gain macro-economic stability and attract beneficial FDI inflows. Much progress remains to be achieved, however, to eradicate poverty and reduce income inequality. In addition, El Salvador needs to improve the general level of competitiveness of its domestic firms in order to reap the full benefits of openness to global trade and investment flows. The Review offers concrete recommendations in order to allow El Salvador to promote FDI in support of global competitiveness and to generate higher levels of beneficial foreign investment.

Monitoring the trade policies and practices of members is a fundamentally important activity of the World Trade Organization. All WTO members are reviewed at regular intervals, according to their share of world trade. Each Trade Policy Review consists of three parts: a report by the government under review, a report written independently by the WTO Secretariat, and the concluding remarks by the chair of the Trade Policy Review Body. A highlights section provides an overview of key trade facts.