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Latin America Investment News on Viva Tropical

Slow Going to Unite Central American Borders for Open Trade

Article Summary:

The five principal countries of Central America are progressing slowly in the process of creating a customs union. One of the most sensitive issues is to agree upon a common tariff for all imports.

Photo Credit: La Prensa Honduras

Original Article Text From La Prensa Honduras via Google Translate :

Customs Union Process Progresses
The five Central American countries are progressing slowly in the process of customs union without deadlines for their realization, said yesterday the owner of the Sieca (Central American Economic Integration Secretariat), Ernesto Torres Chico.

“We are not customs union, but we are walking over there, put time limits is a bit complicated because within that process there are decisions and political assessments that nobody knows when it started and when they finish,” said the official Salvadoran.

Speaking to reporters on the sidelines of a forum for the Frederich Ebert Foundation, Chico Torres said expect further consolidation in the proceedings before the forthcoming signing of the association agreement between Central America and the EU (European Union).

He revealed that to take effect this agreement there are still several steps, including the translation into 22 languages ​​of the document, signature, ratification and legislative implementation.

One of the most sensitive to finalize the regional customs union “with a common tariff for all imports” is related to the collection and distribution from the collection of customs duties.

“Europe has been suggested that Central America must establish a mechanism for a product to enter for a country and then be re-exported to another is not charged twice,” said Torres Chico.

He noted that countries assess alternatives to overcome this issue because “if the common external tariff is not as common mechanisms will be devised to control a product does not enter where it is cheaper and arrives at a destination where it is more expensive.”

Link to Original Article:

From La Prensa Honduras

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