China builds global alliances, with focus on Middle East, including Honduras. Read more:
Xiomara Castro. Picture: GETTY IMAGES/INTI OCON
Honduras has long been one of the poorest country in Latin America. After several years of economic stagnation and a series of devastating hurricanes, Hondurans have become among the largest groups of immigrants crossing the border into the US each year. The Honduran economy is mostly agricultural, relying heavily on exports of coffee, bananas and shrimp.
After his president’s request to join the NDB, the foreign minister also mentioned that Honduras hoped to join Brics. “I think there is a new opportunity for projects in development, in both the social and economic way that will improve the people’s livelihoods”, said Reina. It is interesting that Brics was mentioned during the visit.
After the visit by the Honduran delegation, the tenth edition of the Arab-China summit kicked off in Saudi Arabia for the first time, with $10bn in deals announced on the first day of the meeting in Riyadh. The two-day event brought together more than 3,500 delegates from China and Arab countries. Many of the projects will cause increased Chinese investment in Saudi Arabia. This includes a memorandum of understanding to the value of $5.
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