[Translate to English:] Modernization of customs between Honduras and Guatemala will foster development, economic integration and competitiveness

26/06/2017

[Translate to English:] CABEI donated US$1.5 million in financing to modernize the border crossing and reduce times for the productive sectors of both CABEI member countries.

[Translate to English:]

Tegucigalpa, June 26, 2017. - In order to take advantage of new economic integration schemes by the productive sectors of Guatemala and Honduras, the Central American Bank for Economic Integration (CABEI) financed the "Support Program for the Deep Integration Process towards the Free Transit of Persons and Goods between Guatemala and Honduras.”

In addition to promoting the region's growth, CABEI's US$1.5 million non-reimbursable financial cooperation seeks to support the following objectives:

1.-  Modernize the customs systems in Guatemala and Honduras through the implementation of peripheral customs (five per country) that will enable each country to apply integrated control mechanisms.

2.- Facilitate the transit of goods and people between both countries through the implementation of an Integrated Control Post and Trade Facilitation Posts 

3.- Interconnect, through IT systems, authorities involved in international trade in both countries, including computer systems for migration authorities, customs systems and phytosanitary and internal tax systems in order to facilitate and efficiently control trade.

4.- Indicate the border steps implemented to facilitate the transit of goods and people. 

5.- Strengthen the capacities of the public and private sectors in both countries for the implementation and use of the Customs Union.

6.- Ensure the program’s integral management through efficient monitoring, supervision and follow up, ensuring transparency in the use of financial resources.

CABEI Executive President, Dr. Nick Rischbieth, stated that this non-reimbursable financial cooperation will enable the establishment of an adequate physical and organizational structure to facilitate the movement of persons and goods between the two countries.

He added that, "We have the opportunity to create development and promote the physical integration of the countries in the region, which will lead to the economic and social development of the entire Isthmus and to a united and developed region." 

CABEI, which is the region’s strategic ally, includes Regional Integration as a strategic axis in its 2015-2019 Institutional Strategy. One of the axis’s guidelines is to contribute to the strengthening of trade inside and outside of Central America.

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