Economy ministers study reforms to improve Central American trade

The Board of Economic Integration Ministers of Central America met today in San Salvador to analyze reforms that would improve regional trade.

Friday, April 25, 2008

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 system would work together with the private sector to help facilitate mobility of goods throughout Central America, Mayora said.



More on this topic

The Essential Central American Customs Union

April 2014

Governments in the region should accelerate and make concrete a real customs union that decisively contributes to economic development by facilitating trade in goods and services as well as flows of capital.

While Central American government officials in regional authorities speak of integration, in reality central governments are doing little or nothing to achieve it, when not they are not in the process of obstructing it.

Central American Customs Union is Essential

June 2012

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”.

Customs Union is Essential

July 2010

The cost of customs procedures adds up to 40% to the price of products traded between countries in the region.

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.

Central America plans unification of customs procedures for Cafta

May 2008

Central America is preparing a plan to unify customs procedures with the aim of validating common rules of origin.

The plan is to be presented shortly to US trade officials as part of Cafta, said René Salazar, El Salvador's director of Commercial Treaties.

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