Wednesday, 25 January 2023 15:53

Negotiations continue to complete Customs Union with El Salvador

Written by Evelyn Alas

According to a Guatemalan media, the Forum of Coordinators of Deep Integration Guatemala, El Salvador, Honduras held the first meeting of the year, with the objective of continuing with the full incorporation of El Salvador to the Customs Union process between the mentioned countries.

During the meeting, a timetable was drawn up to address the pending issues in the implementation of the roadmap approved by the Ministerial Instance in may 2022.

Among the items on the agenda for the coming months were: the construction of a list of goods that enjoy free circulation for trade between the three countries, continue with the implementation of the border posts, seek a procedure to apply the same sanitary status between the three countries to reduce sanitary and phytosanitary controls at the border, as well as the authorization of the 2023 budget of the Fondo Estructural y de Inversiones de la Integración Profunda.

The unification of the customs territory will bring together around 50 million inhabitants, which make up the seven Central American countries, to boost trade and solve the challenges they face as a region, as indicated by the authorities involved.

Due to its importance, the neighboring nation is one of the states with which the national territory has more commercial exchange and according to the Sistema de la Integración Centroamericana (SICA), around half of the commercial exports are destined to the neighboring country. 

According to SICA, the free trade area will allow the mobilization of goods regardless of their origin, an external tariff, a mechanism for the collection, administration and distribution of tax revenues.