Trade and Commercial Law Assessment - Honduras - Economic ...

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TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS 2. Regional Harmonize and implement CA-4 immigration visa so that trade-related visitors may Medium Long term Harmonization/ Regulatory reform enter one country and visit all with appropriate security. 3. Legal reform Amend laws to create streamlined process for highly skilled individuals (engineers, doctors, attorneys, etc.). Simplify the process by implement one-stop processing center at most appropriate ministry. This process should include, at a minimum, filing of applications and payments through one agency with transparent, predictable process for review and determination. Also, eliminate review requirement for all exiting parties by strengthening risk assessment and enforcement function. It should be mandatory for citizens and visitors to “check in” but departure procedures should be unencumbered and lead to less delays at borders. High Long term 4. Institutional Modernize and upgrade automation for people processing at the border. This includes High Short term strengthening passport readers and networked computers so that borders have capacity for the following: electronic exchange of people information among border sites and headquarters electronic exchange of people information with other CAFTA countries enhanced risk analysis system and automate risk processes 5. Training Provide training to increase capacity of Customs officers. Work to do this especially High Medium in the following areas: term Document fraud detection techniques Customer service Risk management Attachment 1, pg. 12
TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS FINANCIA L CRIMES No. Type Recommendation Priority Duration 1. Legal The laws dealing with financial crimes in Honduras comport with relevant standards. High Near term implementation Implementation of these laws is lacking, however, in particular with respect to compliance by banks with reporting suspicious money transactions. Steps must to be taken to improve compliance in this area. 2. Institutional Efforts have been undertaken to ameliorate the level of corruption among police and Medium Long term strengthening customs officials through greater investigation and prosecution. These efforts must be supported to ensure that these services do not backslide to prior behaviors. 3. Institutional focus FLOW OF MONEY Currently, high levels of smuggling and undervaluation or under-taxation of imported goods is adding to an atmosphere which seemingly tolerates corruption and contributes to misfeasance. Efforts should be made to target and eliminate these behaviors. Medium Long term No. Type Recommendation Priority Duration 1. Strategy Improve access to credit for small and medium-sized exporters and importers. While High Long term development/ the basic tools for conducting exchange of payment for trade (i.e., letters of credit), Assistance to trade and financial institutions must develop strategies to more effectively extend private cre dit t o reliable small and medium-sized traders. A robust trading system provides sector/Training small and medium-sized traders with the ability to finance their export and import activities, yet the current system often requires many smaller traders to self-finance their activities. This reality imposes serious costs on importers and exporters making them less competitive. Strategies to pursue include such activities as: establishing guarantee funds that offer credit to exporters for fewer guarantees than currently demanded; developing associations/cooperatives among producers for pooling of resources and risks to acquire lower cost credit; increasing importers’ and exporters’ understanding of existing bank instruments through seminars and training. Attachment 1, pg. 13
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Trade and Commercial Law Assessment - Honduras - Economic ...

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