Central America to Unify FTAs with Mexico
The governments will begin negotiations to create a single regional agreement with Mexico which would be ready by 2010.
Monday, March 30, 2009
Mexico currently has three commercial agreements in the region, one with Costa Rica another with Nicaragua and the other with the Northern Central American Triangle (Guatemala, El Salvador and Honduras.)
The current $550 million from the annual sales of Guatemalan products and services to Mexico could double with the entry into operation of the unified FTA between that country and the Central Americans.
The first countries to enforce this Unified Agreement will be El Salvador, Nicaragua and Mexico and the other countries of the region are still in the process of ratification with the Legislature.
Central American countries will be able to access the Regional Integration Committee of Supplies, to supply raw materials for the development of Mexican goods, especially textiles.
Until now Mexico has had a separate bilateral treaty with Costa Rica, Nicaragua and the Northern Triangle consisting of El Salvador, Guatemala and Honduras.
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