The signing of the trade agreement is scheduled for late February, a measure that bodes well for improving access to Korean high-tech products and increasing agro-exports from Central America.
The new excise tariff that will apply from January 1st, 2018 contemplates a reduction of import tariffs on fruits such as plums, oranges and peaches from Chile.
The new importtariffs published by the Ministry of Economy will be effective as of January 1, 2018.
Flowers, white goods, ceramics, leather products and cocoa products are among the list of 207 Ecuadorian products that will enter El Salvador with tariff preferences.
The agreement creates tariff preferences for 207 subheadings, which represent 92% of exports to El Salvador. They will enter without paying any fees.This translates into thegrowth of 20% of Ecuador's exports.
A proposal has been made to reactivate the process so that the commercial agreement, which was approved by the Peruvian congress in 2013, completes the ratification process in the South American country and enters into force.
The main factor that has delayed the entry into force of the Free Trade Agreement between Guatemala and Peru has to do with the conflict that arose in 2013 due to the tariffs imposed by the Andean nation on imports of sugar from Guatemala, which resulted in the Guatemalan government filing a complaintwith the WTO.
Starting from April the South American country will start implementing a timetable for elimination of the safeguard for balance of payments, reducing the current tariff levels from 15% to 10% and from 35% to 23.3%.
From a statement issued by the Ministry of Foreign Trade in Ecuador:
From April 2017 the schedule for dismantling of the safeguard measure will be implemented for balance of payments, reducing the current tariff levels from 15% to 10.0% and from 35% to 23.3%.In this regard, the reduction will apply to established customs declarations submitted from April 1, 2017.
Nicaraguan Rum, cigars, seafood, honey, vegetables, beans, timber, medicines and wood furniture will be allowed into Ecuador with preferential tariffs.
From a statement issued by the National Assembly of Nicaragua:
Candy, plastics, juices and nectars, medicines and paper bags are included in the list of 214 Salvadoran products that will enter Ecuador under special tariff conditions.
From a statement issued by the Ministry of Economy of El Salvador:
The Deputy Minister of Economy of El Salvador, Dr. Luz Estrella Rodriguez, and the Minister of Foreign Trade of Ecuador, Dr.
Removing the tariff on chicken legs under the CAFTA-DR would resolve the problem arising from the use of different tariff headings, but can be done only if approval is granted by the other member countries.
In addition to relying on the approval of the member countries of CAFTA-DR, no one knows how long the process could take.
From this year these three products will be traded duty-free under the DR-CAFTA agreement.
The tariff reduction process that started with the entry into force of the free trade agreement with the United States and Central America has now reached completion for rum, flour and fats exported from Guatemala.
Dairy products and some metalworking products, plastics, tires and wood were excluded from the trade agreement between Central America and China.
Bananas will not incur tariffs when entering South Korea for five years, pineapples for a period of seven years and pork for ten years.In addition to the terms of tariff reduction, the countries in the region unilaterally negotiated the exclusion of some goods produced locally.Guatemala announced that it will continue negotiations unilaterally.
Not fearing free trade, lowering tariffs and facilitating business development are some of the ingredients the Chilean export model that Central America could follow.
In an interview with Elfinancierocr.com, ProChile's director, Roberto Paiva, explained that one of the main reasons behind the success of his country's foreign trade model is the high degree of trade liberalization.Not only for having reduced tariffs, but also for"... 'having negotiated trade agreements. We have agreements with Europe and much of Asia. We don't yet have Africa.This opening not only lowers tariffs but brings us closer to the market and the business'. "
Flowers, cocoa, white goods, articles of clothing, footwear, plastic and nectars are among the goods included in the agreement.
From a statement issued by the Ministry of Economy of El Salvador:
The governments of El Salvador and Ecuador concluded on Friday September 2 negotiations for a Partial Agreement of Economic Complementation between the two nations, a document was signed for the initiation of legal proceedings for its subsequent entry into force.
Prawns, cheese, honey, vegetables, peanut oil, peanuts, raw sugar and fruits are some of the products that people want to have duty free status under the FTA.
In the framework of bilateral negotiations for free trade between the two countries, Nicaraguan businessmen pointed out that there are several products that are in the list for staged tax relief, such as shrimp, cheese, honey, vegetables, peanut oil, peanuts, sugar raw and fruits, but they are looking for a"better tariff treatment"for others that are pending negotiations.
Sanitary and phytosanitary measures, technical barriers to trade, rules of origin and competition rules were defined and progress was made on issues of tariff reduction.
From a statement issued by the Ministry of Economy in Guatemala:
Central American coffee will incur 0% tariff in 10 years, while bananas, vegetables and baby vegetables will be shielded from the entry into force of the agreement.
In the fifth round of negotiations which will be held in Seoul from August 8 to 12 it is expected that progress will be made on the definitions for the treatment of 9% of the universe of products that have not yet been analyzed. These products are sugar, beef and pork, plastic and metal.
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