The $165 million needed for the extension of the ‘5 November’ power station in El Salvador will come from the BCIE ($57.5 million), the German bank KFW ($57.5 million) and the European Union ($ 7.5 million).
For its part, the Executive Hydroelectric Commission of Rio Lempa (CEL), a company that manages the power plant will make a contribution of $43 million towards the expansion project.
"Only when there are real common external tariffs we will be able to take full advantage of the Agreement with the European Union."
It is still important to keep this issue in mind. This was the warning given by the head of the EU mission in El Salvador, Stefano Gatto, who recalls that the full force of the Agreement with the European Union is contingent upon the existence of a common external tariff by all signatory countries.
The European Union again noted its interest in an integrated Central America where there is a free flow of investments, goods and services.
The seventh round of negotiations of the Association Agreement between the European Union and Central America opened in Honduras with the explicit indication by Petros Mavromichalis, political negotiator of the EU that "regional integration remains a subject of great importance for us. We're not talking about philosophical considerations, but rather a practical analysis of the tangible effects on our agreement to the free movement of goods, services and investment in Central America and Europe; this for us is of paramount importance." This is how German Rivas explained the process in an article in Laprensagrafica.com.
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. They believe that it is crucial for trade in the region to be strengthened, especially now in the face of the global crisis that is afecting other markets such as the United States and Europe.
ATS El Salvador is a Customs Agency with 26 years of providing services for imports, exports, transits, consultancies and international transport.
Operates in El Salvador
Phone: (503) 2235 6522 - (503) 2235 6524