Customs Union will improve efficiency
Thursday, February 4, 2016
During the first half of this year, Guatemala and Honduras will complete the first customs union in Latin America, through the unification of all border crossings between the two countries.
The customs union became official last December, with unification of the facilities at Agua Caliente.
An expansion of the customs union concept to the rest of the region would be a significant step forward in improving economic efficiency.
Central America is one of the world's most expensive regions, when it comes to transporting goods, with many border crossings in a small area.
A truck traveling between Guatemala to Panama – a distance of only 2,000 kilometers – must pass through no fewer than five border points, each with its own procedures.