Guatemala to receive funds for customs upgrades
The U.S. Trade and Development Agency has conferred a grant of $387,500 to Guatemala to help it upgrade and modernize its Customs Transit Control System.
The USTDA said a large volume of the imports processed by Guatemala's customs agency is from other Central American countries, and Guatemala is in the process of trying to adopt and implement the World Customs Organization's Framework of Standards to Secure and Facilitate Global Trade.
The grant will help Guatemala's Superintendent of Tax Administration office develop a more efficient and secure system to monitor commercial activity, capture commercial transactions and reduce losses, the USTDA said.
'The project will not only help the SAT to develop a world-class customs transit system, but will also support Guatemala's national competitiveness goals by improving trade facilitation,' a USTDA statement said.