To date the Trade Pillar Committee has not yet been formed with representatives of each of the Central American countries, despite the entry into force of the Association Agreement on January 1st 2014.
Central America has not managed to harmonize and standardize regional interests in order to make use of the Agreement with the European Union. Nearly six months after its entry into force, they have not institutionalized mechanisms to comply with even short term commitments related to regional trade, such as the harmonization of trade regulations, customs administration and trade policy. This failure has consequences.
Congress has until today to approve the amendments to the Industrial Property Act, necessary for the entry into force of the Association Agreement with the EU.
According to Stella Zervoudaki, European ambassador in Guatemala, the adoption of this law requires a 60-day period, plus two for the publication period, so that any interested party can submit their opposition, therefore even if Guatemala ratifies the agreement, scheduled for July 15, the country can not make use of the Association Agreement.
The Guatemalan government is seeking to attract investors on its visit to Taiwan by highlighting the competitive advantages of the country.
Macro-economic stability in country which represents 35% of the regional economy, the "privileged" location on the border of the North American Market, and a favorable investment climate were, generally speaking, the reasons that the Minister of the Economy, Romulo Caballeros, presented to convince Taiwanese investors to place their capital in Guatemala.
A multi-sector alliance was proposed to help deal with the world food crises that is affecting millions of people around the world.
During the third Congress of the Pan-American Association of Latin American Supermarkets (ALAS) that was held in the colonial city of Antigua, some 45 kilometers east of the Guatemalan capital, businessmen made known the "general concern" about the increase in food prices in the international market.
Rómulo Caballeros, the Guatemalan economy minister, called on the nation's businessmen to keep inflation under control by moderating their profit margins.
Caballeros said that consumers were bearing the brunt of increases in prices that were caused by inefficient production. Businesses that raise their profit margins without doing the same for productivity will further reduce demand, he added.
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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.