Honduran exporters welcome the signing of a trade and political continuity agreement with Britain, which ensures ongoing exchange after Britain’s exit from the European Union (EU), according to Honduran officials.
Medardo Galindo, president of the Honduran Federation of Agroexporters, said the UK-Central America Association Agreement was important, since “we will be able to continue exporting products without losing the tax benefits we have with the EU.”
Honduran Minister of Economic Development Arnaldo Castillo said “once Brexit takes effect, we will continue to benefit from the advantages of the free-trade agreements” already signed with European countries, thanks to the accord.
The agreement “provides a framework for cooperation and development through political dialogue, increased economic ties” and work on other issues, the British government said Thursday in a statement.
The agreement was jointly signed by Britain, Costa Rica, El Salvador, Guetemala, Honduras, Nicaragua and Panama on July 18 in Nicaragua, in the lead up to Britain’s expected withdrawal from the European bloc.
In 2018, the trade volume between Central America and Britian reached 1.255 billion U.S. dollars, and the Central American countries enjoyed trade surpluses.
Britain is the fourth-largest European market for the Honduran export, according to the Central Bank of Honduras.
Up to April, the Honduran imports from Britain amounted to 8 million dollars while exports surpassed 41.7 million dollars. (http://www.xinhuanet.com/english/2019-07/22/c_138247423.htm)
