Results of FTA Between Guatemala and Chile

Between 2007 and 2014 Guatemalan exports to Chile grew by 15%, led by sales of sugar, equivalent to 70% of the total, followed by natural rubber, paints, varnishes and prepared foods.

Friday, March 27, 2015

In total exports from Guatemala to Chile increased from $43.4 million in 2007 to $112.7 million in 2014. Sugar reported an annual growth rate of 13%, reaching $79 million in exports in 2014.

Lanacion.com.gt reports that "... With Chile as a destination, Guatemala also exports natural rubber, which in 2007-2014 had an annual average growth of 19.8% and was 22% of total exports. Rubber exports rose from $7 million in 2007 to $24.8 million in 2014. In addition, Guatemala exports paints, varnishes and prepared animal feed with a 2% share each. "

Deputy Minister of Economy, in charge of Foreign Trade, Maria Luisa Flores, noted that "... One of the benefits of trade agreements is to reduce transaction costs. Thanks to this FTA, trade between Guatemala and Chile has been facilitated and strengthened through the implementation of a harmonized set of rules, which has increased bilateral trade flows. We still have challenges to exploit this commercial tool, we must innovate, diversify our exports. "

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More on this topic

Optimism in Guatemala Over FTA with Mexico

September 2013

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.

Guatemalans are hoping that exports to the Aztec nation will double with the entry into force of the agreement which unifies the Mexican FTA's that were held separately with Costa Rica, Nicaragua and the CA-3.

Peru Puts Breaks on FTA with Guatemala

August 2013

Although the Peruvian Congress has already ratified the FTA, they have indicated that it will not enter into effect until the dispute raised with the WTO over sugar has been settled.

The controversy which has been passed on to the WTO over the rise in Guatemala sugar tariffs is keeping the entry into force of the Free Trade Agreement between the two countries paralyzed.

Results of Guatemala - Chile FTA

March 2013

Since the adoption in 2010 of the FTA between Chile and Guatemala, the trade balance between both countries has been balanced.

The Guatemalan sugar industry best uses the FTA, with an average share of 72% in annual exports to Chile.

Following sugar, is rubber (natural rubber), since its exports are equivalent to 22% of total exports to that country.

Nicaragua Ratifies FTA with Chile

August 2011

Under the agreement, 96% of Nicaragua's export products will enter Chile duty-free.

The Legislative Assembly has ratified a Bilateral Protocol Initiative Decree between Nicaragua and Chile of the Free Trade Agreement between Central America and Chile, signed on February 22.

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