El Salvador joined this Monday (20.8.2018) the Customs Union that Guatemala and Honduras started a year ago with the aim of promoting trade and investment, the presidents of the three countries announced.
The rulers Salvador Sánchez Cerén (El Salvador), Jimmy Morales (Guatemala) and Juan Orlando Hernández (Honduras) signed the document in a ceremony held at the border point between Honduras and Guatemala in Corinto, about 210 km north of Tegucigalpa.
Three countries, one territory
The three countries will handle 70% of regional trade in a customs territory of 242.020 km2, 48,5% of Central American territory, with a market of 31,9 million people.
"We are becoming the eighth largest economy in Latin America, and with this market capacity, consumption and production, we believe we can have a much better chance of joint negotiations with many markets," Morales said.
Sanchez Ceren stressed that the The agreement is a boost to the integration that Central America has been undertaking since the 60s..
The Customs Union will generate "more employment opportunities, trade facilitation, free movement of goods," among other benefits, the president stressed.
Source: AFP
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