El Salvador: $3.2 Million in Losses From Closed Border

©image: Vards Uzvards

That’s how the president of the Chamber of Commerce, Jorge Daboub put it, and he added that exporters of perishable goods were the most jeopardized, especially fruits and vegetables.

Roberto Alas interviews the president in his article on Elsalvador.com: “We don’t agree with the measure because political problems like this should be resolved diplomatically and not with trade measures.”

Source: elsalvador.com

More on this topic

Honduras – Guatemala Border Reopens

July 2009

David Cristiani, Guatemalan vice-minister of economy, said that there are no plans to extend the border closing beyond the 48 hour term.

The regional business sector, represented by the Federation of Private Business in Central America, the Dominican Republic, and Panama (FEDEPRICAP, acronym in Spanish), has appealed to the governments of Nicaragua, Guatemala, and El Salvador to lift the embargo, insisting that it violates the principles of free transport of goods as established in trade and integration agreements.

Regional Business Sector Rejects Trade Block

June 2009

The regional business sector rejected SICA’s decision to block trade with Honduras because it would affect all the economies of the region.

The closing of Honduras’ borders to trade is rejected by the Central American Federation of Agricultural and Agro-Industrial Chambers because it restricts the freedoms of companies, industry, and commerce.

Estimated Losses From Closed Borders is $36 Million

July 2009

ANEP of El Salvador calculates the trade embargo with Honduras produced $36 million in losses each day for Central America, as calculated globally.

For the Salvadorian textile industry in particular, the border closing meant estimated losses of $1 million in exports and 4,000 workers sat idle, according to calculations from the Salvadorian Chamber of Textile, Confection, and Free Trade Zones Industries (CAMTEX, acronym in Spanish) published in Elsalvador.com. At the same time, the organization estimates that Honduran factories lost $700,000 in exports to El Salvador.

Honduran and Salvadoran Business Leaders Meet

July 2009

The Salvadorian National Association of Private Companies received its Honduran counterpart, Cohep, to analyze the commercial situation.

The Honduran Private Business Council (Cohep, acronym in Spanish) will provide a presentation about the situation that Honduras is going through and the impact it is having on the business sector with losses in the millions.