With the publication in the official newspaper, Guatemala complies with the legal framework to implement the customs union.
Raul Trejo Esquivel, Deputy Minister of Economy, referring to such ratification, stated "is the legal basis to remove all restrictions on regional trade and strengthens the union process."
Prensalibre.com writes, "this ratification means that if a third country cargo enters one of the ports in Guatemala and is destined for another Central American country, the fees will be paid in the country and the cargo will be free to transit across Central America."
Next Friday Nicaragua will join the Customs Union, whose current members are El Salvador, Guatemala and Honduras.
Haroldo Rodas, Guatemalan Chancellor, remarked that Nicaragua's adhesion to the Union will foster trade between the countries of the region, and improve the environment for negotiating the Association Agreement with the European Union.
A delegation from Venezuela is expected to visit Guatemala in the coming weeks.
During last week's visit to Caracas of Finance Minister Haroldo Rodas and Energy and Mines Minister Carlos Meany, it was hoped that there would be progress in the negotiations for the nation to take part in the Petrocaribe program. However, Meany said that little was accomplished.
Guatemala's Foreign Minister Haroldo Rodas said that, at the Central American summit on May 29 in El Salvador, he intends to press for a commercial agreement with the South American common market, Mercosur.
Rodas said that President Alvaro Colom and the Brazilian leader Luiz Inacio Lula da Silva recently agreed to kick-start the stalled trade talks between Central America and Mercosur.
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