Guatemala’s director for the Central American Bank of Economic Investment (CABEI), Pedro Brolo Vila, concludes his five-day trip to Taiwan
Guatemala’s director for the Central American Bank of Economic Investment (CABEI), Pedro Brolo Vila, concludes his five-day trip to Taiwan today.
Director Brolo met with Taiwan’s Foreign Minister Joseph Wu as well as several economics, finance and investment officials. This visit sought t to reaffirm the strong ties between CABEI and Taipei.
Brolo’s visit follows two recent exchanges. Last week the Guatemalan foreign minister visited Taipei, while last month another CABEI delegation met with Taiwanese officials to broker an agreement to increase female employment in Central America. Taiwan is the only non-Central American bank member and is its largest shareholder, giving it a major role in the institution.
Expect Brolo’s visit to strengthen ties between Guatemala and Taiwan. In the short to medium term, investments in education, small and medium sized enterprises and sustainable development, particularly for infrastructure projects, appear likely. This strategic investment will make Guatemala more attractive to additional FDI. Taiwanese investment is key for Guatemala, which seeks to counter China’s growing influence in Central America. However, long-term, as Chinese investment and influence increases, more states may be pressured to sever ties with Taipei to maintain good relations with China.