Thursday, 17 February 2022 04:06

El Salvador achieves the lowest trade exchange times in Central America

Written by Evelyn Alas

The Dirección General de Aduanas (DGA), an agency of the Ministry of Finance, reported that they have managed to reduce the times to 9.6 minutes for imports and 5.6 minutes for exports. In both cases, these are the lowest times in Central America, according to studies by the Central American Customs Services.

"One of the objectives of the Central Government is the modernization of the institutions, with emphasis on the services provided to the population, promoting a good business climate", said the head of the DGA, Samadhy Martinez, quoted in the bulletin of the Regional Vice-Presidency of the World Customs Organization.

The United Nations Conference on Trade and Development published a study on the sustainability of National Trade Facilitation Committees. El Salvador has 73 points out of a possible 100, and is the highest score in the region, according to the head of the ministry of Economy (MINEC), María Luisa Hayem.

It is followed by Costa Rica and Honduras, with lower scores. At least 10 government institutions have managed to streamline 380 procedures, to the benefit of economic dynamization.

The Minister of Economy said that, simultaneously, they are undertaking a diversity of actions that will have a positive effect on foreign trade, as well as investments. "These are the most important points: incentivize, facilitate and modernize", she explained. For example, together with the authorities of Honduras and Guatemala they are preparing a type of QR code for those who move goods.

Both the DGA and Economía are promoting internal reforms and new regulations that allow entrepreneurs to work without obstacles. The DGA is promoting the Salvadoran Customs Code and seven technological tools, while Economía is working on a more modern legal framework, especially from the law of international services, the law of free zones and new legal instruments yet to be announced.