TEGUCIGALPA, March 15 (Reuters) - Honduras' decision to seek official relations with China and cut them with Taiwan on Tuesday was about "pragmatism, not ideology," driven by rising debt and investment needs, Honduran Foreign Minister Eduardo Enrique Reina said on Wednesday. China does not allow countries to hold diplomatic ties with both itself and Taiwan as it claims Taiwan as its own territory with no right to state-to-state ties, which Taiwan disputes. Speaking on local television, Reina said Honduras was "up to its neck" in financial issues and debt - including the $600 million it owes Taiwan - and this had partly motivated Honduras' decision to open relations with China. Honduras' decision puts pressure on Taiwan ahead of a visit by Taiwan President Tsai Ing-wen to the U.S. and Central America. Honduras intends to keep trade ties with Taiwan, however, Reina added during his television appearance.

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