Business Associations in Central America Call for Revised Customs and Trade Regulations
7 junio 2019

Business associations across Central America have submitted a series of trade-related recommendations to the region’s presidents, at the conclusion of the Business Summit of the Central American Integration System (SICA). The recommendations, set out in the Declaration of Guatemala, center on promoting the region’s customs union and increasing trade flows. The proposals were submitted to the Secretary General of SICA, Vinicio Cerezoto, to encourage governments to streamline public policies relating to customs, trade and logistics.

The business associations emphasized the need to adopt a regional Harmonized Customs System which would be operated jointly by all Central American countries to reduce the costs of customs procedures and goods transport. Regarding entrepreneurship, they recommended new regulations to make it cheaper for companies to innovate and adopt new technologies, and urged governments to develop regulations to promote investment in start-ups by introducing new financing schemes.

Driving the proposals were: the Federation of Chambers of Industry of Central America and the Dominican Republic (Fecaica); the Federation of Private Entities of Central America, Panama and the Dominican Republic (Fedepricap); the Chamber of Industry of Guatemala (CIG) and the Consultative Committee on Economic Integration (CCEI).