Customs Union between Honduras and Guatemala generated USD 1.825 million in trade

By Bufete Mejía

In 2018 and 2019 the Customs Union between Honduras and Guatemala has generated more than USD 1.825 million in trade, with a total of 40% corresponding to free circulating goods, according to the Secretary of the Central American Economic Integration Secretariat (Sieca), Melvin Redondo.

"With the implementation of the process of deep integration between Guatemala and Honduras, and the implementation of the Customs Union in 2017, Honduras and Guatemala are at the forefront of the processes of economic integration among developing economies. A regime of unprecedented commercial exchange was established in Central America and certainly it was a step taken in the right direction,” said Redondo.

"What has been achieved by Honduras and Guatemala has been cited as an example of trade facilitation in the latest report of the World Trade Organization. The transit time of goods through border posts decreased from hours to minutes and there are joint operations between border post authorities”, he added.

Redondo believes that now the main challenge is to deepen regional economic integration, in the face of disruptive phenomena such as the fourth industrial revolution, climate change and a return to unilateralism and trade protectionism. "All these elements demand a clear leadership of Honduras as a leader of the economic integration of Central America," he said.