El Salvador: Government's Plan Will Not Replace 'Drawback'

Exporters are concerned that the government's $175 million investment in the sector will not make up for the loss of incentives.

Thursday, August 5, 2010

El Salvador's Corporation of Exporting Companies, known as COEXPORT, believes the impact on the export sector of the $175 million government investment plan will be minimal.

Francisco Bolaños, president of COEXPORT, told Laprensagrafica.com that, "according to our calculations, the employment bonus will cover around 4,000 jobs while job losses are in the region of 28,000. This is an example of where the budget falls short. Let's remember that the main aim is to create jobs and this is why much more is needed".

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From a press release issued by the American Institute for Cooperation on Agriculture (IICA):

Exporters in Latin America and the Caribbean who market their products in Canada will probably have to improve their agricultural health and food safety (AHFS) controls if Canada approves a proposal aimed at modernizing its regulations.

New Requirements for Exports from Costa Rica to El Salvador

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Since October 11 exporters of goods originating in Costa Rica and going to El Salvador have had to attach to the FAUCA a certificate issued by the Directorate General of Foreign Trade which states the Customs regime under which the company operates.

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Unified Regional Trade Regulations

December 2010

This first unification of regulations will benefit the export sector of food and medicine industry.

The signing of the agreement to unify technical regulations will be held next Monday and will then be submitted for review to the countries of the World Trade Organization (WTO).

El Salvador’s Export Strategy Fails to Convince

July 2010

While exporters acknowledge that the strategy includes some useful instruments it is does not go far enough for the development of the sector.

El Salvador’s Corporation of Exporting Companies, known as COEXPORT, has reviewed the new Integrated Strategy for the Promotion of Exports (EIFE) and found no substitute for the “drawback” instrument, an import duty rebate triggered by the re-export of goods that were initially imported.

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