The governments have announced the beginning of negotiations to sign a bilateral agreement to exchange tax information which will include an exchange format based on the OECD standard.
Varela's announcement came as part of the visit to Japan to sign a financing agreement worth up to $2.6 billion to build Metro Line 3. The agreement also includes a technical cooperation grant for hiring a Project Management company for $35 million.
The state run electricity companies have signed a cooperation agreement to develop joint research activities and establish a legal framework for the future exchange of energy in the regional electricity market.
Comisión Ejecutiva Hidroeléctrica del Río Lempa (CEL) of El Salvador, which has an installed capacity of 472 megawatts, and the Instituto Nacional de Electrificación (INDE) of Guatemala were responsible for signing this agreement which will facilitate energy trade.
Even without having resolved their border dispute, both countries are working on joint projects including the facilitation of tourist traffic in both territories.
In order to improve relations between the two countries, it is expected that next December a roadmap will be ratified which contains at least 15 bilateral agreements on energy, tourism, education, cultural affairs, environmental, security, temporary workers, cooperation in justice, migration, etc.
As part of the agreement a profile of the market has been created containing the requirements, permits and conditions for export to the Asian nation.
Nicaragua's National Assembly has adopted a Framework Cooperation Agreement between Nicaragua and South Korea. Among other things, the agreement aims to strengthen bilateral relations between the two countries improving trade and provide technical training and education to workers.
Now the decision rests with the U.S. Congress who will have to give an answer in 15 days. "... The MCC confirmed that its board has approved a pact for $277 million over five years. The Salvadoran government will contribute $88.2 million in the same period. In total, there is $365.2 million for an ambitious plan that seeks to "improve competitiveness and productivity in international markets ...", reported Laprensagrafica.com.
The Government and private sector of the country plan to expand their business in Latin America using Panama as its hub.
A press release from the Ministry of Foreign Affairs reads:
As part of the commemoration of the twentieth anniversary of the establishment of diplomatic relations between Panama and the Ukraine, on behalf of the Minister of Foreign Affairs, Fernando Nunez Fabrega, the deputy minister in charge, Mayra I. Arosemena, accompanied by Foreign Minister of the Ukraine, Leonid Kozhara, will take part in a conversation between Ukrainian and Panamanian businessmen.
Panama and Venezuela are to create a bilateral technical committee to reach an agreement on the debts held by Venezuelan entrepreneurs with the Colon Free Zone.
According to Panamanian Foreign Minister Fernando Nunez, "the first payment will be made almost immediately." "The new program agreed by the Government of Venezuela enables these companies to pay off their debts directly with the Colon Free Zone," he said.
The Nicaraguan Taiwanese Business Chamber has signed an agreement with the Central American Trade Office in Taiwan to promote trade.
Prensalibre.com reports that "the agreement seeks to contribute to the promotion of the benefits of the Free Trade Agreement (FTA) between the two parties and provide a platform for continued cooperation on trade and investment."
The opening of an office in the People's Republic of China and the signing of an agreement with the Arab League, mark the government's strategy to open new markets.
The Guatemalan President Otto Perez, said they are making efforts to initiate trade relations with China, for this reason the chancellor, Fernando Carrera, will lead a delegation to the country in two months time, in order to explore investment areas.
While Obama's visit was mainly symbolic and dealt with long-term issues, the visit by Xi Jinping focussed on specific projects such as the $400 million for the route to Limon.
"In the evaluation of the visit by the Chinese President Xi Jinping to Costa Rica, the cooperation provided by the Asian president and the possibility of strengthening trade and diplomatic relations, there were many positive aspects. It was undoubtedly an act of pragmatism by Oscar Arias in 2007 to recognize China and seek closer relations with what Napoleon called 'the sleeping giant', which looks much more awake in the XXI century, " explained Mario Bermúdez in an article in an article in Elfinancierocr.com.
Guatemala is seeking to consolidate its presence in Asia in order to explore new business, investment and cooperation opportunities.
From the Ministry of Foreign Affairs in Guatemala:
The interest of the Republic of Guatemala in consolidating and improving the bilateral relationship with the Republic of India, beginning from the month of May 1972 has been realized with the opening of the Embassy of Guatemala in New Delhi, being officially established on 4 April of this year. The Republic of India set up its resident Embassy in Guatemala in 2011.
Key representative/s from the Guatemalan Exporters’ Association last 13-15 October attended the 8th TPO Network World Conference to exchange ideas and best practice around stimulating export-led economic growth and meeting the urgent challenges in the sector.