Although it has reduced its dependence on the USA as an export destination, Guatemala could find new opportunities with the expected shift in the trade policy between the US and Mexico.
Analysts recognize the value of finding other markets but also warn about the importance of continuing to watch the events in light of the statements made by President-elect Trump during his campaign regarding a possible revision of the Free Trade Agreement (FTA) with Mexico.
Businesses are asking the Executive to reactivate the National Commission against Smuggling to protect issues such as competitiveness, intellectual property rights and the rights of consumers and entrepreneurs.
When the criminal customs fraud structure in Guatemala known as La Linea fell, the National Commission Against Contraband (Conacon) ceased to be operational. For this reason, representatives of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF) met with the President and Vice President, Jimmy Morales and Jafeth Cabrera, in order to revive the entity, reported Elperiodico.com.gt.
A Technical Committee has been created made up of representatives from the Government and the private sector with the aim of coming up with proposals.
The Technical Committee will find out about, initially, the proposals of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif), on the issue of the increased efficiency of the Empresa Portuaria Quetzal.
Entrepreneurs from different sectors have come together in pursuit of projects and initiatives to generate greater productivity through innovation.
This is the "Privy Council on Competitiveness, an entity created and funded by the Guatemalan private sector, specifically for corporate donors under the framework of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif) and the Foundation for Development of Guatemala (Fundesa) are working on the Initiative: Lets Improve Guatemala," said Fanny D. Estrada in her article in Prensalibre.com.
The presidents of various Guatemalan unions have asked the Monetary Board not to authorize the issuance sought by the state.
According to representatives of the Chambers of Agriculture, Industry and Commerce associated with the Committee of Commercial, Industrial and Financial Associations (Cacif), this action "will affect the macroeconomy and increase the fiscal deficit."
The phenomenon affects much of Latin America, whose countries spend on average 8% of their GDP on security costs.
That was the conclusion reached during the forum "Connecting businesses as partners for prosperity with security in the Americas", organized by the Organization of American States (OAS) and the private sector, under the framework of the Guatemala Investment Summit.
The Chamber of Industry of Guatemala has requested that Congress approve reforms to laws which prevent or reduce corruption and to punish public officials involved in such acts.
From a press release issued by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF):
As part of the site visit scheduled for this day, regarding the evaluation of Guatemala in the Follow-up Mechanism to the Inter-American Convention against Corruption (MESICIC-OAS), the Chamber of Industry of Guatemala (CIG) participated with a presentation on "Cooperation between the private sector and the supervisory bodies in efforts to prevent and combat corruption."
A court ruling has suspended the Tax Authority in Guatemala from closing businesses who fail to comply with tax rules.
Mauro Chacón, President of the Constitutional Court (CC), explained that four actions of unconstitutionality have been presented by the chambers of Agriculture and Commerce, one of which was provisionally suspended by the Supreme Court.
Guatemala's business associations are asking for explanations about the government's decision not to accept the changes already agreed on by a bipartisan technical committee.
"Andres Castillo, president of the Committee of Commercial, Industrial and Financial Associations (Cacif), explained that the technical committee formed by the Ministry of Finance, the Tax Authority, the Vice President and the private sector" reached agreement on 28 items which were drafted with the preamble, "which were rejected by Perez Centeno", reported Siglo21.com.gt.
The Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations is protesting against 40 items in the tax reform laws which came into effect on 1 January.
According to the members, this reform was approved by the Guatemalan Congress without much discussion and in a hasty manner.
According to an article published by Elperiodico.com.gt, CACIF intends to present to the Finance authorities a series of amendments that would modify decree 4-2012, the Act Strengthening the Tax Administration 2 (FAT2), and 10-2012, the Tax Law Update.
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