
NEWS
The Business Year and the Salvadoran Chamber of Commerce and Industry (CAMARASAL) Sign MoU
El Salvador, Latin America & Caribbean | Sep. 17, 2024
The Salvadoran Chamber of Commerce and Industry (CAMARASAL) and The Business Year (TBY) have signed a Memorandum of Understanding (MoU) to boost the international visibility of the Salvadoran business sector. This strategic partnership aims to enhance trade exchange and attract foreign investment by utilizing TBY’s global platforms to highlight El Salvador’s economic potential.
Established in 1915, CAMARASAL is a leading trade association in the region, dedicated to improving local business competitiveness and fostering a supportive business environment. Over the years, the Chamber has been instrumental in promoting business development and has remained committed to social responsibility in all its initiatives.
Under the leadership of Leticia Escobar, the second woman to head the Chamber in 108 years, CAMARASAL has expanded its role in opening international markets for Salvadoran SMEs. Escobar’s strategic vision has been pivotal in integrating new approaches that provide small and medium-sized enterprises with growth opportunities abroad.
CAMARASAL supports several key committees, including the Businesswomen’s Committee, Tourism Committee, Transportation and Logistics Committee, and Exporters’ Committee. These committees have been essential in developing tailored business programs that help local companies enhance their competitiveness globally. Additionally, CAMARASAL has played a crucial role in facilitating the internationalization of SMEs, broadening their access to commercial networks and investment opportunities beyond national borders.
El Salvador, with its strategic location in Central America, is emerging as an increasingly attractive destination for investment. Recent advancements in security and ongoing reforms are paving the way for a more stable business environment. The country is also focusing on economic diversification, aiming to leverage its growing sectors such as technology, tourism, and manufacturing. With a young and dynamic workforce, El Salvador is positioning itself to harness new opportunities for growth and innovation.
The signing of this MoU signifies a significant milestone for El Salvador’s economic advancement. Following recent improvements in security, the country is focusing on economic growth through strategic partnerships and enhanced business practices. This collaboration aims to position El Salvador as a prominent player in the global economy, emphasizing the Chamber’s pivotal role in fostering business development and economic progress.