TAIPEI (Taiwan News) — Taiwan will consider reestablishing relations with Honduras if it serves the nation’s interests and upholds its dignity, foreign ministry spokesperson Hsiao Kuang-wei (蕭光偉) said Tuesday.

Hsiao said the ministry is closely following election developments in Honduras and maintains communication with people from various sectors there, per CNA. His comments follow speculation that the Central American nation could restore ties with Taiwan.

Nasry Asfura, a former mayor of Tegucigalpa, has expressed interest in doing so. In July, he said he would review agreements signed by President Xiomara Castro with China if elected, adding that Honduras was “100 times better off” when allied with Taiwan, benefiting from greater trade and aid.

Honduras severed ties with Taiwan in 2021, switching recognition to Beijing after Castro took office.

A recent article in The Diplomat highlighted China’s failure to deliver on economic promises. Local retailers have been unable to compete with low-priced Chinese imports, causing revenues to drop by up to 70%. Shrimp exports have also plunged 67%, costing 14,000 jobs.

Before ties were cut, Taiwan was Honduras’ largest shrimp market, purchasing nearly 40% of its shrimp exports.

Foreign Minister Lin Chia-lung (林佳龍) has said Taiwan would be open to restoring ties with Honduras if the opportunity arises.