Maquiladora industries
Maquiladora industries: Mexican production facilities engaged in processing or secondary assembly of imported components for re-export, primarily to the United States. The maquiladora program was created in the late 1960s by Mexico to alleviate economic and social problems. Materials could be imported free of tariffs provided they were re-exported. In the earlier years, assembly work tended to be confined to simpler tasks, but there is now a second generation of more sophisticated and capital-intensive operations. Article 303 of NAFTA has changed the maquiladora program substantially. This article prohibits the refunding, waiving or reducing the amount of customs duties on goods imported into the territory of a party, if a condition is that the product is exported to another party or used in the production of a good to be exported to another party. Of course, all tariffs between the United States and Mexico will be eliminated by 2008 in any case.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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