Bureaucracy Delays Benefits of Association Agreement

Honduras' customs system has not been updated with the new tariffs for European products, in force since 1 August.

Thursday, August 8, 2013

A week ago the Agreement entered into force and Honduran importers have not yet received the corresponding tariff benefits.

"The Automated System for Customs Revenue (known as SARA by its initials in Spanish) is the system where people get information on the taxes that have to be paid based on the treaty and immediately after it enters into force it has to be ready, but the Revenue Office has not yet managed to input, so to speak, all the tax breaks included in this agreement," said Eduardo Ramos, advisor to the Chamber of Commerce and Industries of Cortes.

Ramos has already made approaches to the tax authorities, however, they applied for a period of 15 days to adjust the computer system to reflect the conditions defined in the agreement.

Laprensa.hn reports: "A source at the DEI justified the problems encountered by exporters arguing that the tax agency has not received updated listings of the benefits to input into the system, information which must be provided by the Ministry of Industry and Commerce (SIC ). "

More on this topic

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The Honduran government has reported that the agreement will take effect on October 1, and that it will be coordinating a visit by a group of Canadian companies in the country in the coming previous.

The Department of Economic Development told Eleconomista.net that "...The entry into force of the FTA between Honduras and Canada "has been set for October 1" after the two countries have "adopted the administrative regulations necessary at the level of customs and the formalities prescribed in the Treaty have been exhausted.' "

Panama Joins SIECA

June 2012

The canal country's accession will be formalized on 29 June and will accelerate the elimination of tariffs and regional trade facilitation.

The incorporation of Panama to the Secretary for Economic Integration of Central America (Sieca), will allow Central American countries to sign the Association Agreement with the European Union (EU).

Central America - EU Association Agreement Ready for Signing

June 2012

The AACUE now must be approved by the legislatures of the countries involved.

A statement from the Ministry of Foreign Trade in Costa Rica (COMEX) reads:

Association Agreement between Central America and the European Union ready for signing

San Jose, June 25, 2012. Today the Council of Ministers of the European Union authorized the signing of the Association Agreement between Central America and the European Union (EU-CAAA) on Friday June 29 in Honduras. The Ministers of Foreign Trade and the Foreign Ministers of the region will sign the document, along with the Trade Commissioner of the European Union and the Danish Foreign Minister, in a formal ceremony under the framework of the Summit of Heads of State and Government of member countries of the System for Central American Integration (SICA).

Panama Soon to Join SIECA

May 2012

Panama's accession will be formalized in late June and will accelerate the elimination of tariffs and facilitate regional trade.

In Costa Rica and other Central American countries there are expectations over Panama's accession to the Central American Economic Integration Secretariat, which will be signed in Tegucigalpa on June 29, and the regional benefits it will bring.

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