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“China will remain committed to developing friendly relations with Honduras, firmly support economic and social development in Honduras, and forge a good friendship and partnership with Honduras featuring mutual respect, equality, mutual benefit, and common development.” That was the commitment from Chinese President Xi Jinping during a landmark exchange with Honduran counterpart Xiomara Castro in Beijing.

Both sides issued a joint statement after the meeting and both heads of state witnessed the signing of 17 bilateral cooperation documents in areas ranging from Belt and Road Initiative (BRI) infrastructure projects and economy to trade, technology, and education. In more ways than one, such pacy progression has helped realize Castro’s long-standing aspiration to advance “diplomatic and trade relations with China.”

From establishing formal relations in March to their first presidential talks, swift progress in diplomacy provides a launchpad for signature Chinese-Honduran achievements. That includes an early consensus on negotiating a China-Honduras free trade agreement (FTA), given China’s readiness to begin talks as soon as possible. A future FTA could play a substantive role in expanding market access for major Honduran exports to China, and at the same time support minimum tariff opportunities.

Early progress is clearly evident. Both sides have already witnessed a year-on-year trade increase of 22.9 percent in the first four months of 2023, and China’s colossal market has begun to step-up its consumption of trademark Honduran produce since March. As a sign of building on that rapid progress, President Xi committed China’s firm support to Honduran economic and social development and called on both sides to prioritize efforts that lift people’s livelihoods.

“The Chinese side encourages Chinese enterprises to participate in Honduran economic development, energy, environment, infrastructure, telecommunications and other projects,” read the joint statement after the meeting of the two countries’ leaders. The successful convention of around 200 political and business delegates in Beijing makes key forums, such as the China-Honduras high-level business meeting, a valuable platform to boost joint welfare gains.

Castro’s landmark exchange with Xi also made a valuable contribution to deepening political trust. In their joint communique, the ironclad one-China principle features as the proud centerpiece of China-Honduras diplomatic relations, underlining Castro’s success in delivering on her campaign promise. Xi has hailed this historic decision as a testament to Castro’s unwavering political will.

Enormous development opportunities are now destined to serve Honduras long-term national interests. That includes its latest entry into the BRI, a sprawling connectivity vision that witnessed its highest investment levels since 2019 last year. Honduras stated support for stronger policy coordination and development planning under the BRI framework has injected new momentum for economic mobility and could help narrow the country’s yawning poverty gap.

Firm partnership under the one-China principle can also serve as a catalyst for more enduring trade engagements between both sides. It reflects in the marked growth in China’s imports from and exports to Honduras in recent months, totaling $540 million by the end of April. The progress was helped in part by a high-level understanding among both countries to prioritize trade cooperation, after Honduras stood up for its historic recognition of the one-China principle in late March.

As a staunch champion of trade integration and economic opportunities in the developing world, China’s diplomatic relations with Honduras can accelerate what Honduran Foreign Minister Enrique Reina described as “new windows of opportunity” for Honduran commerce, trade and economic growth altogether.

The country’s added aspirations to partner with the New Development Bank, and participate optimally in the China-proposed Global Development Initiative, Global Security Initiative, and Global Civilization Initiative also underline Castro’s determination to take global challenges head-on with China.

As a result, the historic Xi-Castro exchange gave a long-term and much-needed strategic perspective to all those strengths. It also made clear the extent to which both countries are united in their pursuit of a shared future. – CGTN