Maquila Companies in Honduras and the FTA with Canada

The Honduran maquiladora industry is increasingly benefiting from the agreement which stimulates and protects Canadian investments coming into the country.

Monday, November 11, 2013

This industry has shown great optimism after the approval of the trade agreement. "We will have several advantages," says Daniel Facussé, president of the Honduran Maquila Association (AHM).

" ... This industry is one of the main beneficiaries of the treaty because it not only promotes bilateral trade, but also stimulates and protects Canadian investments which will be coming into the country," noted an article in Laprensa.hn.

For several years the Canada company Gildan has been operating in Honduras, and it is one of the world's largest textile companies. According to Facussé, this year in 2013 projection are that maquila exports will reach $3.3 billion. "These exports are the highest we've had, with a growth of 4.5 % compared with 2012. Projections for 2014 are growing at the same rate," he added .



More on this topic

Honduras Wants to Enter Trans-Pacific Agreement

May 2015

The maquila industry approves of the government's decision to apply for formal admission into the agreement, which would improve conditions for textile companies competing with countries like Vietnam.

The Honduran Maquila Association (AHM) is one of the unions in the country which is most interested in being part of the trade union agreement, because the United States is the main destination for its production, and where textiles also come from countries that are already part of the agreement, such as Vietnam.

More Canadian Investment in Maquilas in Honduras

September 2014

Textile entrepreneurs anticipate an increase in Canadian investment once the trade agreement with this country takes effect on October 1st, 2014.

Daniel Facussé, president of the Honduran Maquila Association reported that "... representatives of three Canadian companies visited the country and showed interest in investing in maquila and buying sportswear.

Enactment of Honduras - Canada NAFTA Announced

June 2014

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.' "

Honduras-Canada Trade Agreement Signed

November 2013

Pork, grains and processed foods are the sectors that will benefit once the congresses of both countries approve the FTA.

The agreement was signed in Ottawa by the Ministers of Trade, Ed Fast from Canada and Jose Adonis Lavaire from Honduras.

Laprensa.hn reports that "once implemented, tariffs on 98% of bilateral trade will fall ...".

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