The isthmus is the natural destination for the region’s export producers and a large part of the countries’ economic development depends on the 40 million people that inhabit Central America, forming a unified marketplace.
The Board of Economic Integration Ministers of Central America met today in San Salvador to analyze reforms that would improve regional trade.
Yolanda Mayora, the Salvadorean Minister, told the news media that during the meeting they analyzed reforms to the Uniform Customs Code of Central America and its rules. They considered technological improvements to transmit commercial transactions and customs payments electronically.
The Central American Customs Union is the most important tool for increasing trade in the region and generating the economies of a scale necessary to compete in the global market.
The Federation of Chambers of Exporters of Central America, Panama and the Caribbean (FECAEXCA) has released a statement in which it urges “the Ministers of Economy of the region to redouble their efforts so that the processes of the Customs Union can acquire the necessary priority and speed and to take actions to complete them”.
Costa Rican businesses demand that regional common market be strengthened.
The business owners claim that join together 11 treaties is worthless unless their is a common market to ease the trade of products in the region and with harmonious tariffs, not to mention other needs.
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