Fri. Apr 19th, 2019

Guatemala hopes to resume FTA negotiations with South Korea

Guatemala hopes to resume FTA negotiations with South Korea



Guatemala hopes to continue negotiations for a free trade agreement (FTA) with South Korea in the second quarter of this year.

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The Minister of Economy, Acisclo Valladares, said at a press conference on Monday that the discussion of this agreement was postponed until 2019 because the Asian country had negotiations with several countries last year in search of an FTA.

Valladares explained that the commercial issue was one of the issues addressed in the weekly meeting of the Government Cabinet led by the president of Guatemala, Jimmy Morales.

The country, added the official, expects that in the second quarter of the year talks started with South Korea in 2018 to reach the free trade agreement, which the other countries of Central America signed, will resume.

He also reported that Guatemala expects the FTA signed with Peru to enter into force after resolving the sugar issue, because the Central American country "has already approved and ratified Congress."

"We hope to have news (from Peru) this week and if I do not leave, a vice minister will go so that the treaty can be put into effect," Valladares said, adding that the entry into force of the FTA "will be good news for businessmen. of both countries. "

In addition, the minister recalled that last October his country signed a Partial Scope Agreement (AAC) with Cuba and that the Caribbean nation has already come to Guatemala to certify the first production plants, which is a basic process to be able to export later.

"We have been moving forward on several fronts," the official said, explaining that last week he also held a meeting with members of the Foreign Trade Agency of Japan, a country that is "very interested" in Guatemalan coffee.

Valladares said that what is being seen with that country is that there are better prices for the grain with the purpose of allowing the entrepreneurs to transfer those resources to the entire value chain.

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