From Guatemala: Guatemala - Honduras Customs Unification

Mario Salazar - Andersen in Guatemala, a Member Firm of Andersen Global

 The ministers of economy of Guatemala and Honduras signed the administrative act to launch the process for a deep integration towards the free transit of goods and of individuals between Guatemala and Honduras.

The Customs Unification Model will start in three border checkpoints (Corinto, Agua Caliente and El Florido) and 90 days after in Tecún Umán, Puerto Quezal, El Carmen, Santo Tomas de Castilla (on the Guatemala side) and Puerto Cortés, La Mesa, La Fraternidad, El Amatillo and El Guasaule (on the Honduras side).

A recent report from The Economic Commission for Latin America and the Caribbean (ECLAC) indicated that this unification will bring to Guatemala an additional 1% in growth of Gross Domestic product (GDP) and 1.6% in exports.

Meanwhile, Honduras will have an increase of 1.2% of GDP and 2.4% in exports. ECLAC also considers that Guatemala could obtain an increase in tax from $23.1 million USD to $40.2 million USD revenue, while Honduras will increase its collection between $20.8 million USD and $36.7 million USD.