Progress is being made on an environmental law which establishes regulations to prevent and respond to climate change threats.
The Framework Law to Regulate the Reduction of Vulnerability, Compulsory Adaptation to the Effects of Climate Change and Mitigation of Greenhouse Gases creates a National Council as a regulating body and will be represented by members of the government, rural organizations, municipalities, and environmentalists in addition to the private sector.
Russian businessmen will visit the country in January under the agreement signed to promote investment between the two governments.
The visit to Guatemala by Russian investors and the firm in November as part of the Agreement for the Promotion and Reciprocal Protection of Investments (APPRI by its initials in Spanish) represents a great opportunity for the industrial sector of the Central American country.
Between January and July 2012, car dealerships in Guatemala sold 15.410 units, up 12% compared to sales in the same period in 2011.
According to the Association of Importers and Distributors of Motor Vehicles (AIDVA), in 2010 19.426 units were sold, whereas in 2011 the figure went up to 23.524.
"Among the positive factors in the automotive industry what stands out is sufficient liquidity in the financial system and the low interest rates offered by banks, ranking below 10 percent. In addition, it is also believed that the business has been favored by the country's higher economic growth ", added revistaindustria.com.
"It is we ourselves who are still looking ourselves as independent countries, when in fact we must work even harder on this unification."
In his article published in the magazine industry, the executive director of the Chamber of Industry of Guatemala Javier Zepeda, describes the situation which as yet has not be able to be changed: the plan for regional integration only exists on paper. Noting the lack of political will, lack of customs modernization and low investment in infrastructure, Zepeda calls on the Central American private sector to focus on working collectively to realize the union of the region.
The elimination of tariffs on agricultural products and flexible rules of origin for products such as tuna, textiles and plastics are part of the changes incorporated in the Agreement.
The Minister of Economy, Sergio de la Torre said that in the next few years Guatemala's exports to Europe could be doubled, as has happened with the other trade agreements that the Central American nation has signed.
It is an issue to keep in mind to add value to Central American export products and to avoid trade disputes.
Months ago the Guatemalan Congress ratified a number of amendments to the Copyright Act in order to protect Geographical Indications and Designations of Origin as provided by the World Intellectual Property Organization (WIPO) and requested within the Association Agreement with EU.