Businessmen in El Salvador attentive to conflict in the Middle East

The concerns were reflected by the Exporters Corporation of El Salvador (Coexport), especially due to the consequences on the price of oil.

“If this goes on for a long time, there could definitely be more increases” in the price of crude oil, said Silvia Cuéllar, president of the entity, who recalled that when there are increases in the so-called black gold, they are transferred to all sectors of the economy and affect in general. every sense, he insisted.

Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC), an association that in May extended voluntary crude production cuts until the second quarter of 2024 to boost prices.

“That not only affects us, but the whole world. Each country must see the challenge of how it can face it,” said the president of Coexport in statements cited by the newspaper El Mundo.

“At the moment we have not had any major problems, but companies are taking precautions in the sense of providing themselves with supplies, raw materials or machinery that they bring from there,” said the businesswoman.

Figures cited by the newspaper El Mundo indicate that at the end of 2023, imports from Israel totaled 17.8 million dollars, 50.6 percent less compared to 2022. El Salvador mainly purchases machinery and electrical appliances, in addition to products from the chemical industry. , weapons and ammunition.


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