The private sector will be proposing to the government the signing of a partial agreement and investment promotion with India and negotiation of a trade agreement with South Korea.
These proposals aim to increase trade relations, where in the case of South Korea, in 2014, Guatemala reported imports of $402 million and exports worth $269 million, with the most notable products sold being sugar, lead and coffee.
There is an imperative need for Guatemala to table a clear strategic relationship with China, not only in terms of trade, but also fundamentally at the political level.
From the Publication entitled "Economic Policy, Trade and Investment by Guatemala in the PRC: strategy in the short, medium and long term" by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC):
An announcement has been made that services and office staff will be expanded in Panama City and from there the Dutch will strengthen their business with other countries in Central America.
After a meeting of the Dutch ambassador and Panamanian officials, it was announced that the office operating in the country will be expanded to extend activities throughout Central and increase financial and trade relations with Panama.
On November 8 credentials will be presented to the South Korean government and efforts will start on promoting Nicaragua as an investment destination.
Elnuevodiario.com.ni reports: "...The foreign minister of Nicaragua, Samuel Santos, confirmed yesterday that Nicaragua will open an embassy in South Korea, and Jorge Arnesto Alm will be the ambassador to China, after presenting his credentials on November 8. "
Businessmen in the CFZ expect that the break in relations between the countries will further hinder the recovery of $2 billion owed by Venezuelan companies.
On Wednesday, Venezuelan President Nicolas Maduro announced the severance of diplomatic relations with Panama," freezing "all further trade and economic relations with the Central American nation. The situation worries employers in the Colon Free Zone (CFZ), who see even more difficulty in recovering the $2 billion owed by Venezuelan companies.
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