Asparagus, mandarin oranges, artichokes, grapes, pineapples, mangoes, avocado, quinoa, coffee, Giant Cusco corn, purple corn and limes, will enter Honduras duty-free with immediate effect or within a maximum period of 5 years.
The governments now have to define the date of entry into force of the agreement.In 2015 the South American country exported goods to Honduras worth $40 million.
Tariff preferences were negotiated in non-traditional products in sectors related to metalworking, appliances, construction, wood, plastics and agribusiness.
From a statement issued by the Ministry of Foreign Trade in Ecuador:
The deputy minister of Foreign Trade, Alejandro Dávalos, opened the Second Round of Trade Negotiations with Honduras for the signing of a Partial Agreement of Economic Complementation.
Several years after conversations began, Central America and South Korea finally started the formal negotiations for a free trade agreement.
From a statement issued by the Government of Guatemala:
In Houston, Texas, the Minister of Economy of Guatemala, Sergio de la Torre, and his Central American counterparts in charge of foreign trade, met with Korean Minister of Commerce, Industry and Energy Yoon Sang-Jick, to start negotiating the Free Trade Agreement between the Republic of Korea and the Central American republics.
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.' "
The Association of European Banana Producers has proposed extending the community production model until 2020 in order to face competition from Central America.
From a statement issued by the Costa Rican Foreign Trade Promotion Office:
European banana producers seek to strengthen position in light of Latin American exports
The Association of European Banana Producers (APEB) has advocated maintaining Community production , its acres and producer income until 2020, and notes that "they will take the necessary measures to counter the agreements of the European Union (EU) and Latin American countries that ignore the state of food security and the environment. "
The Pacific Alliance has become the largest market in Latin America and an attractive investment for companies in third party countries who want to use it.
"In 2012, the Gross Domestic Product of the Pacific Partnership (AP by its initials in Spanish) grew by 5%, two points higher than that recorded by the global economy. FDI remained at an acceptable rhythm, with $71.045 billion, of which over $30 billion was destined for Chile.
The president of the Dominican Republic has warned the U.S. government about the impact the Trans- Pacific treaty in the textile sector in the region.
From a statement by the Ministry of Foreign Affairs of the Dominican Republic:
On November 27, President Danilo Medina sent a communication to the President of the United States, Barack Obama, in which it reiterated its concern expressed during the meeting held in San José, Costa Rica, in May, in connection with the negative impact which could come from the Trans- Pacific Economic Partnership Agreement (TPP) on the textile and clothing industry in the signatory countries of the DR -CAFTA and the region, if certain special concessions that could cause changes in the management and values of hemispheric trade, and on a worldwide level.
The Honduran maquiladora industry is increasingly benefiting from the agreement which stimulates and protects Canadian investments coming into the country.
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).
The Trans-Pacific agreement being negotiated by the U.S. could authorize Vietnam to get threads from China and export duty-free textiles to the North American nation.
The Ambassador of El Salvador in that country, Ruben Zamora, has already raised concerns with officials from the U.S. trade office (USTR). Zamora affirmed that representatives from textile companies have visited the U.S.
Honduras and Nicaragua will be the first countries to export to the European market under the preferential tariff agreed between the two regions.
The agreement will be effective only in these two countries, as the parliaments of the rest of the region have not yet ratified it.
Both nations also will benefit from use of the regional quotas agreed for products such as meat, tuna, rice, sugar, sweet corn, preserved mushrooms, cassava flour, fresh or chilled garlic, among others, which can enter without paying tariffs.
If Asian countries like Malaysia and Vietnam get access for their textiles to the U.S. under the same conditions granted in the DR-CAFTA, the Central American textile sector will be at risk.
The Salvadoran Chamber of Textiles, Clothing and Free Zones (CAMTEX), warns of the risk posed to the sector if the Trans Pacific Partnership Agreement (TPP) comes into effect.