BUSINESS & ECONOMICS |
BUSINESS & ECONOMICS |
Monday, March 30, 1998 Online Edition 99 |
Germany is the largest buyer of Honduran coffee, according to a La Prensa report. Twenty-five percent of Honduras' export coffee was sold to Germany in 1996 and 1997. The United States imported 19 percent and Japan was the third largest importer, buying nearly 12 percent. Most of Honduras' debt with the World Bank will be converted to dollars to reduce the risk of currency fluctuations. According to a report in La Prensa, Honduras acquired much of its national debt in a variety of currencies, such as the German mark, the Japanese Yen and the U.S. dollar. To combat the problems caused by the fluctuation of these currencies, the World Bank has instituted a program through which countries can consolidate their loans into one currency, chosen by the country. Honduran pharmaceutical manufacturers approached the Minister of Industry and Commerce this week to change import regulations on medicines. According to a La Prensa report, national medicine producers feel that they are subjected to unfair competition by importers of medicines, and that as a "rehearsal" for the free trade agreement with Mexico, the government should assist the producers in the exportation of Honduran products throughout Central America and also exercise more control over medicines that are imported into Honduras.
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Monday, March 23, 1998 Online Edition 98 |
The municipality of San Pedro Sula will be offering the boulevards of that city in concession to private companies. A La Prensa report announced that the measure had been suggested by the Inter American Development Bank. Mayor Roberto Larios explained that the beltways are in need of expansion and that the city government does not have the necessary funds to work on them. "These are very large investments that must be made and the only way we can see to do it is by offering them in concession." The private firm that takes over the boulevards will make the improvements and then charge a toll for their use. The municipality is also studying the possibility of offering in concession a sewage treatment plant, a bus terminal, and a plant for collection and industrialization of trash. Honduran exports from 1997 grew by 9.2 percent over the previous year, according to a La Tribuna report. Even though there was an abrupt drop in banana exports, the rise in coffee prices and production made up for the loss. 1997 was the fifth consecutive year in which coffee exports were higher than banana exports. Other products that experienced growth in the export market were silver, lead, zinc, tobacco and shrimp. However, exports of beef and lobster were down. Negotiation of a free trade agreement with Mexico are beyond the halfway point. Fernando Fiallos, Honduras' official negotiator, told La Tribuna that the negotiations could conclude this year. The negotiators are currently discussing a list of 100 items, mostly agricultural products, to be included in the trade agreement.
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Monday, March 16, 1998 Online Edition 97 |
In a decree issued Monday, March 9, President Flores declared a state of emergency due to the risk of electricity shortages this summer. According to a La Prensa report, the state of emergency allows the government to bypass the bidding process in the purchase of electricity from private and international sources. In an effort to improve quality and production of Honduran shoes, the United Nations Program for Industrial Development and the Honduran Association of Leather, Shoes and Similar Products will be opening a training center in San Pedro to train workers in this field. The center will be staffed by shoe construction specialists from Italy and will be open to students free of charge, according to the daily La Prensa. Negotiations continue on a free trade agreement between Central America and Mexico, despite the withdrawal of Guatemala. According to a La Prensa report, Guatemala has withdrawn from negotiations leaving only Honduras and El Salvador to design a free trade agreement with Mexico. Fernando Fallos, a business person and negotiator for Honduras, says that the negotiations are on track but claims that Mexico is a "hard negotiator," saying, "We are very small and Mexico has a first rate negotiating team." HONDUTEL is currently trying to make changes to the cellular telephone service offered by the company CELTEL. According to a La Prensa report, CELTEL will no longer be able to charge users for outgoing and incoming calls. In addition, HONDUTEL has announced that it will soon be accepting offers for the B band from other interested companies in order to provide more competition in the cellular phone market.
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Monday, March 9, 1998 Online Edition 96 |
As of April 1, El Salvador will no longer be importing Honduran cheese. A report in La Tribuna indicated that El Salvador will be closing its borders to any cheeses not made with pasteurized milk. Hernan Erazo, vice-minister Commerce estimates that the export of cheese to El Salvador brings in nearly Lps. 50 million every year to small producers. El Salvador announced this decision two years ago, but small producers have been unable to make the necessary modifications to pasteurize the milk, and also claim that pasteurization interferes with the cheese making process. Finance Minister Gabriela Nunez said in a La Tribuna interview this week that income tax rates will be lowered. Nunez said, "The decision has been made, but we are still analyzing the amount and the time frame." President Carlos Flores will be meeting with World Bank President John Wolfensohn today (March 7) during the latter's visit to the Central American region. According to a La Tribuna report, reduction of poverty will be the main topic discussed at the meeting. A group of Taiwanese investors recently visited with flower growers in Honduras to examine the possibility of exporting this product to their country. Taiwan currently imports millions of dollars worth of flowers from Columbia, according to a La Tribuna report. Police were called to a San Pedro Sula maquila Monday in order to remove workers who were blocking the entrance. According to a La Tribuna report, the workers were protesting because the company's owners refused to recognize the formation of an employees union, and had fired six of the new union's members. A spokesperson for Coman Corporacion said the company was not recognizing the union due to a number of fictitious employees present on the list of union members.
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Monday, March 2, 1998 Online Edition 95 |
The Republic of China in Taiwan will be presenting Expo 98 Republic of China in San Pedro Sula March 11-16. According to an El Heraldo report, the event hopes to stimulate trade between the two countries by presenting to the Honduran public and business sector some of the many products produced in Taiwan, including motorcycles, hand tools, and electronic equipment. The governments of the Central American countries, with the support of the Comision Economico para America Latina (CEPAL), are investigating the possibility of constructing a 2,200 kilometer pipeline from Mexico to Panama which will transport natural gas. According to a study outlined in the economic section of El Heraldo, the pipeline will carry gas from the Mexican company Petroleos de Mexico, located in southern Mexico, to storage stations initially located in Guatemala and Puerto Cortes, Honduras. Later, the network would be expanded to include El Salvador, Nicaragua, Costa Rica, and Panama. The total cost of the pipeline would be nearly US$1.104 billion. The first stage connecting Mexico, Guatemala and Honduras would have a cost of $371 million. The greatest demand for natural gas would be to generate electric power in the Central American countries. HONDUTEL has announced that it will install 17,000 new lines in San Pedro Sula and 20,000 in Tegucigalpa. In a La Prensa report, the company also announced that it will be making improvements to the 192 information service.
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