Trade and Business in Honduras

The objectives of the subject “Foreign Trade and Business in the Republic of Honduras” are the following:

1. To analyze the Honduran Economy and Foreign Trade (Import, Export, FDI);
2. To know the business opportunities in the Republic of Honduras;
3. To explore the Honduran trade relations with the country of the student;
4. To know the Honduran Free Trade Agreements;
5. To develop a business plan for the Honduran Market.

The Subject “Foreign Trade and Business in Honduras” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): Business in America, International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Course: Business in Central America.

Learning materials in or Honduras Honduras Honduras.

1. Credits of the subject “Foreign Trade and Business in Honduras”: 1 ;
2. Duration: one week.

Honduran Free Trade Agreements (FTA) and Market Access

1. Honduras and the Latin American Economic Area;
2. Central American Integration System (SICA)
   1. Central American Common Market - Integrated with the SICA -.
3. Association of Caribbean States (ACS);
4. Mesoamerica Project;
5. Latin American and Caribbean Economic System (SELA);
6. Bolivarian Alliance for the Peoples of Our America (ALBA);
7. The Honduran products and services has direct access to many international markets thanks to the Trade Agreements with Japan, European Union, Chile, or Australia;
8. United Kingdom-Central America Free Trade and Economic Integration Agreement;
9. Dominican Republic-Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua) Free Trade Agreement (FTA);
10. Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR);
11. Colombia-Northern Triangle (El Salvador, Guatemala, Honduras) Free Trade Agreement;
12. Mexico-Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua) Free Trade Agreement;
13. El Salvador-Honduras-Taiwan Free Trade Agreement (FTA);
14. Peru-Honduras Free Trade Agreement;
15. Panama-Honduras Free Trade Agreement;
16. Canada-Honduras Free Trade Agreement (FTA);
17. South Korea-Central America (Costa Rica, El Salvador, Honduras, Nicaragua, Panama) Free Trade Agreement (FTA);
18. Latin American Integration Association (ALADI) (observer).

Trade Facilitation Programs

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).

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American Trade and Economic Organizations:

1. Economic Commission for Latin America and the Caribbean (ECLAC);
2. Inter-American Development Bank (IDB);
3. Organization of American States (OAS);
4. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. Commission on International Trade Law (UNCITRAL);
   4. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF).

The Republic of Honduras.

1. Since 1980 Honduras is governed by a democratic system with steady institutions, a transparent legal system, and political and social stability;
2. Honduras is situated in the heart of the American continent. Only two hours by Air and 48 to 72 hours by sea to the United States;
3. Honduras has a population of 8.7 million people;
4. Honduran Capital: Tegucigalpa;
5. Area of Honduras: 112,492 square kilometers;
6. Honduras shares borders with Guatemala, El Salvador, and Nicaragua;
7. Honduran main language: Spanish;
8. Honduras gained the independence from Spain in 1821;
9. Abolition of Slavery in Honduras: 1824;
10. African Diaspora in Honduras: 0.1 million people (2% of the Honduran population).

The main religion in Honduras: Christianity - Catholicism (7 million) and Protestantism (1 million).

Honduras belongs to the Latin American Economic Area of the Western Civilization.

Honduran Economy.

1. The Republic of Honduras is an interesting place to do business in Central America;
2. Honduras is near the production centers of North America and the largest markets in the World;
3. In the last years, 300 companies have established their operations in the Republic of Honduras (America) under “maquila” - (manufacturing and light assembly) in sectors such as textile and apparel, agro-industry, automotive components, electronics, and furniture production,;
4. Honduras is the hub of the Central American garment industry;
5. Honduras serves as a distribution platform to the Central American markets, among the lowest logistics costs in the region;
6. The main Honduran economic activities are the financial services, communications, manufacturing, trade, agriculture, livestock, forestry, and fisheries;
7. Agribusiness represents 40% of the GDP of Honduras;
8. Honduran Currency: Lempira.

Sample:

Emerging Sectors in Honduras:

1. Traditional sectors (agriculture, textiles, tourism);
2. Value-added industries (agribusiness, sustainable tourism, light manufacturing, and business services);
3. A flexible manufacturing sector, capable of exporting in varying scales, supported by a favorable tax and customs code;
4. A growing services sector;
5. A tourism sector that attracts international travelers;
6. A forestry industry that supplies a broad variety of non-traditional wood species 32 million hectares (80 million acres) at highly competitive prices, with different climates and a large potential for low irrigation agriculture.

Main business opportunities in Honduras:

1. Traditional sectors: agriculture, textiles, and tourism;
2. Value-added industries: agribusiness, sustainable tourism, light manufacturing, and business services.

Foreign Trade of Honduras.

1. Exports of the Republic of Honduras are led by the activities related to the maquilas;
2. Total Honduran exports grew by 7.2%;
3. Honduras is the third largest apparel exporter to the U.S. market;
4. The main Honduran export markets are the United States, the European Union, El Salvador, Guatemala, and Mexico;
5. The largest importers from Honduras are the United States, Guatemala, El Salvador, European Union, and Costa Rica;
6. Puerto Cortés is the only deep-water port in Central America; is engaged (busiest) among the Honduran and Central American ports;
7. The Inter-oceanic Highway construction will allow the communication by road between the Atlantic and the Pacific oceans;
8. Any part of Honduras can be an Industrial Processing Zone/Free Zone where companies are exempt from all taxes.

FIDE Investment and exports is a Honduran private non-profit organization that works in partnership with the Government and other private agencies to improve the business climate in Honduras and promote the foreign direct investment (FDI).

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