Last year, trade in paints and varnishes between Central American countries amounted to $123 million, which is 10% lower than in 2019, a drop that was reported in the context of the economic crisis resulting from the Covid-19 outbreak.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
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.
Due to the tropical storms Eta and Iota, severe damage has been reported to the road network in Central American countries, and some border posts in Guatemala, Honduras and El Salvador have been suspended.
Since November 17, operations were suspended at the El Corinto, El Florido and Aguas Calientes border posts. These areas, shared by Guatemala and Honduras, are not operational, according to the Guatemalan Superintendence of Tax Administration (SAT).
Arguing that there is unfair treatment in the other countries of the region, Costa Rican drivers of cargo vehicles block the transit through the border posts of Penas Blancas and Paso Canoas.
The protests in Costa Rica, which affect vehicle circulation in the country and border crossings, will have a short-term impact on intraregional trade and cargo transport costs.
In order to access the $1.75 billion credit that it intends to request from the International Monetary Fund (IMF), the Costa Rican government proposed to tax financial transactions, raise the tax on the profits of companies and individuals, and increase the tax on real estate.
Local authorities announced that as of March 7, cargo vehicles traveling through the country from Costa Rica will no longer pay $50 at Nicaraguan customs.
During 2019, purchases abroad totaled Ch$12,836 million, which is 3% less than the amount reported in the previous year.
The General Comptroller's Office reported that between 2018 and 2019 foreign purchases in the country decreased by $396 million, from $13,233 million to $12,836 million.
For the periods in question, imports of intermediate goods reported a decrease, in this case it was 4.5%, from $3,311 million in 2018 to $3,161 million in 2019.
Authorities from both countries met to review pending procedures related to the export and import of products such as tomatoes, beef, chicken, fish and sausages.
The bilateral agenda also addressed the issues of international cargo transport, smuggling at border crossings, streamlining procedures and efficiency in processes, as well as the provision of facilities and measures restricting the international transport of land cargo, reported the government of Panama.
Guatemala, El Salvador and Honduras agreed that May 4, 2020 is the new date for the use of the Central American Single Invoice and Declaration.
From the Agexport statement:
September 30, 2019. The Ministry of Economy through the Vice-Ministry of Integration and Foreign Trade announced on September 27, 2019 that in a meeting with the Ministerial Instance of the Customs Union of the Republics of El Salvador, Guatemala and Honduras it was agreed as follows:
In the first three months of 2019, trade in paints and varnishes between the countries of the region totaled $31 million, 3% more than in the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
The Cortizo administration is preparing a bill to create the Integrated Control System at the border with Costa Rica, with the aim of simplifying the transit of people, vehicles and goods between the two countries.
The Ministry of Foreign Affairs of Panama reported that Alejandro Ferrer, head of the institution, with the support of the Director of the Customs Authority of Panama, Tayra Barsallo, presented to the Cabinet Council, the draft law approving the framework agreement to implement integrated binational control systems at the border crossings between Panama and Costa Rica (Paso Canoa, Rio Sereno and Sixaola).
Costa Rica recurred to the Central American Trade Dispute Resolution mechanism, for the collection of $50 by Nicaraguan customs authorities to Costa Rican cargo carriers entering the country.
The disagreement began after the Nicaraguan authorities on March 15 of this year began to collect a customs tax on the cargo transport in transit or with final destination in the country, which consists of the payment of $50 for each transport unit of goods that passes through land customs.
After having been extended several times, the contingency plan for DUCA F and DUCA was finalized on July 8, however, there is uncertainty because the platform is not fully operational.
In Nicaragua, authorities reported a decision to suspend collection of the additional fee of $0.05 for each kilogram exported or imported by air.
The extra charge came into effect last April 25, but from the beginning the private sector spoke out against it, because it was argued that the tariff that the Nicaraguan government would apply, would put some local companies on the border of closure and cause a decrease of about $50 million annually.
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