Central America: A Single Customs Territory

An urgent call is being made for greater efforts to be undertaken between Guatemala and Honduras and between Panama and Costa Rica, with the ultimate goal of creating a much needed Customs Union.
From a statement issued by the Federation of Chambers and Associations of Exporters of Central America (FECAEXCA):

During the annual meeting of the Federation of Chambers and Associations of Exporters of Central America (FECAEXCA), exporters in the region called on the executive and legislative bodies of their countries to facilitate the Central American Customs Union, by ratifying the Facilitation Agreement Trade and beginning the negotiation of the Free Trade Agreement between Central America and Korea.

During the annual meeting of FECAEXCA, an organization that brings together the Chambers and Associations of Exporters such as AGEXPORT (Guatemala), COEXPORT (El Salvador), CEF (Nicaragua), FPX (Honduras), CADEXCO (Costar Rica), APEX (Panama) and ADOEXPO (Dominican Republic), representatives agreed on the importance of the Customs Union as a tool to increase trade in the region and generate the economies of scale necessary to compete in the global market. Therefore, they urged the Ministers of Economy of Central America to redouble their efforts in order for the processes of the Customs Union to be given priority and the necessary speed and in this way take actions to finalize the actions undertaken between Guatemala and Honduras, and between Panama and Costa Rica creating a single customs territory.

Source: www.centralamericadata.com