Entirely new customs law planned for Guatemala

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The National Competitiveness Program of Guatemala has announced that the Executive will introduce a draft bill to Congress to replace existing customs regulations.

Under pressure from the Guatemalan business sector, the executive has presented a new initiative to Congress, which has already been agreed with various chambers of commerce, said Juan Carlos Pais, Presidential Commissioner for Competitiveness.

“We will not make changes, it will be an entire new law, which will override existing legislation, removing the discretionary fines and regulating the insurance payments on goods. This proposal contains writing improvements and is clearer”, said Paiz in Elperiodico.com.gt

According to the business sector, the current customs legislation, which took effect in March, rather than improve or streamline foreign trade, has decreased export competitiveness.

Source: ElPeriodico.com.gt

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