Unless intra-regional trade in chemical contents and residues, micronutrients and food preparations is regulated in a balanced manner, trade relations in Central America could face obstacles in the future.
Trade between Central American countries is essential, since a considerable proportion of foreign sales by local companies are destined for other markets in the region.
After two years of non-operation, El Salvador's government and business associations agreed to reactivate the institution dedicated to decision-making on customs matters and trade agreements.
The private sector was represented by the Presidents and Executive Directors of the guilds ASI, COEXPORT, CAMARASAL, CAMAGRO, AMCHAM, CAMTEX and ADES, which are part of the Inter-union Commission for Trade Facilitation (CIFACIL) and participate with voice and vote within the Committee, informed the Salvadoran government.
In 2018, foreign sales totaled $5.904 million, 3% more than in 2017, a rise that was mainly explained by exports from the manufacturing sector.
The manufacturing industry, which includes maquila goods, reached exports of 5.727.4 million at the end of 2018, with a 97% share of total exports and a 2.8% growth. Of 141 economic branches that reported exports, 63 of them totaled $4.388.1 million and were those that had positive growth during 2018, contributing $337.2 million more, reported the Central Reserve Bank (BCR).
Petroleum products, iron and steel, food and pharmaceutical products, headed last year's purchases from companies in the South American nation from Central American countries.
Figures from the Central American-Ecuador Trade Information System complied by the Business Intelligence Unit at CentralAmericaData: [GRAPHIC caption = "Click to interact with the graph"]
Plastic articles, pharmaceutical products and food preparations last year led the commercial exchange between companies from the Caribbean nation and Central American countries.
Figures from the information system of Commerce between Central America and the Dominican Republic, compiled by the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
During the first eight months of the year, foreign sales reached $4.054 billion, almost 4% more than the same period in 2017.
From the press release of the Central Reserve Bank:
The exported merchandise from El Salvador up to August 2018 reached US$4,053.8 million, US$139.9 million more than the same period in 2017, with an inter-annual growth rate of 3.6%, reported the Central Reserve Bank.
It has been estimated that since the crisis began in Nicaragua, losses in trade between Nicaraguan and Salvadoran companies amount to $12 million.
The cheese and milk trade is the area that has been most affected by the socio-political crisis occurring in Nicaragua.According to representatives from the Ministry of Economy of El Salvador, losses in bilateral trade not only of cheese and milk, but also of other goods, amount to $12 million.
Negotiations have started to incorporate El Salvador into the Customs Union that is already functioning, albeit partially and with some setbacks, between Guatemala and Honduras.
Internal taxes, customs procedures, migration, tariffs and sanitary and phytosanitary permits are some of the issues to be addressed in the first round of negotiations between the Salvadoran government and its Guatemalan and Honduran counterparts.
In the first quarter of 2016, the performance of the export sector was affected by falling prices in international markets and lower export volumes.
Foreign Trade report by Central Bank of Nicaragua:
The value of exports amounted to 554.0 billion, with a reduction in value of 17.5 percent compared to the same quarter in 2015. Meanwhile fob imports amounted to 1331.5 million dollars with a growth of 4.1 percent year on year.
With the creation of the new union the aim is to promote Salvadoran exports in the European country and use it as a gateway to the rest of the continent.
Among the products identified as having potential for export to the UK are textiles, food, drinks, coffee and ornamental plants, explained David Huezo, president of the new union.
"... Additionally, Huezo recalled that by promoting business with the UK, the world's fifth largest economy, companies have a "gateway" towards the EU, a market with 500 million people with high purchasing power.
Through the SICA countries in the region are assessing the possibility of negotiating a free trade agreement with the Asian nation.
The announcement was made by Guatemalan President Otto Perez Molina, during the II Business Forum between the region and Japan, which included the participation of companies and government representatives from both countries.
The traditional event, in its thirty-third version, will include the speaker José Ugaz, a renowned fighter against corruption.
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP):
The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) has ensured the success of the thirty-third version (XXXIII) of Expocomer and at the same time announced that the inauguration of the most important trade show in Latin America, will have as its keynote speaker Jose Carlos Ugaz, a Peruvian lawyer fighting corruption and promoting transparency in Latin America and in the rest of the world. In addition, the President of the Republic, Juan Carlos Varela will also be attending.
The Commercial Office of Central America CATO has a website where Central American companies can promote their products to export to the Asian island.
With the aim of promoting Central American SMEs and boosting Taiwanese investment, the Commercial Office of Central America together with the Embassy of Honduras in Taiwan has inaugurated the website www.cato.com.tw , which allows entrepreneurs in the region to showcase their products in the Taiwanese market.
On May 8th and 9th Euroferia 2015 will be held in Managua, an event where goods and services from European and Central American companies will be presented.
From a statement issued by the European Union:
The main objective of EUROFERIA 2015 is to contribute to the dissemination of its efforts in the EU to promote a model of inclusive and sustainable development through cooperation and, in the case of Central America through the Association Agreement (AA) which sets out the framework for the expansion and deepening of political, commercial and cultural relations between the two regions.
Colombian MD2 pineapple producers are negotiating with South Korea, Israel and the European Union in order to start exporting the product in 2015.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
Bengala Agrícola S.A.S. is a Colombian agricultural producer and exporter based in Cali, Valle del Cauca; one of the main drivers of economic development in Colombia.