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Complementary words by the Secretary General of SICA on the Presentation made by the President Pro Tempore with regard to the Central American Integration Process Ladies and Gentlemen, Most Excellent Minister of Foreign Affairs of the Republic of China, Most Excellent Foreign Ministers of Central America: Following the request by the Chancellor of the Republic of Honduras and our President Pro Tempore, allow me to complement, as possible, the information provided by the Honourable Minister on the progress to date in the process of Central American integration. Among other important achievements so far in various sectors of the process, we can mention the following:
- 1. In the area of modernization of the regional financial sector, the Central American
Monetary Council has developed, in coordination with the Superintendence of Banks and CABEI, a Macroeconomic Convergence Process through the harmonization of financial and prudential supervision legislation and policy and prudential, and in an incipient form in the establishment of a regional stock market. Also within the context of the Puebla- Panama Plan, a draft framework treaty for regional (Mesoamerican level) financial integration is in the works.
- 2. The Central American Bank for Economic Integration, of which the Republic of China is
an extraregional partner, has continued to support the plans and projects for national and regional development, giving special support to projects that address the eradication of poverty, also funding projects to support medium, small and micro businesses. Moreover, CABEI financially supports the development of projects of the Puebla-Panama Plan.
- 3. The Centre for the Promotion of Micro and Small Enterprises in Central America
(CEMPROMYPE) has established itself as a regional institution serving this area of great importance to the economy of the Central American countries.
- 4. It is important to highlight Central American Study on Transportation conducted by
SIECA, which contains an assessment of the situation and proposes actions for the development of road infrastructure, air and maritime ports, and the establishment of an intermodal and multimodal transportation system. One of the major projects proposed in this study is the logistics corridor that has served as the basis in this area for the Puebla- Panama Plan.
- 5. Among these achievements are the institutionalization of OSPESCA into the General