"Geography is destiny"
Annual growth in trade between Central American countries from 1960 to the close of 2008 averaged 11.7%, increasing from $30 million to $6.3 billion.
Thursday, July 8, 2010
"Geography is destiny,” Napoleon would often say, and Central America is a clearly a case in point. As far as trade is concerned, the region’s countries are one, and in terms of business it is essential to take this into account.
In spite of globalization driving various forms of private economic integration, there still remain custom and tariff barriers.
The free trade agreements with the United States have contributed to the economic growth of partner countries, said the American ambassador to Guatemala, Stephen McFarland.
U.S. products are arriving with certificates of origin stating they are part of NAFTA, the trade agreement between the U.S., Canada and Mexico, which means that when they enter Guatemala they lose their tax privileges from the FTA with Central America.
Deputy economy ministers of Central America and the Dominican Republic met in San Salvador to evaluate the region's trade agreements with other countries.
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