Agreement with the United Kingdom: Optimism in Guatemala

After the Association Agreement with the United Kingdom came into effect on January 1, Guatemalan businessmen are confident that business opportunities will be generated during 2021.

Tuesday, January 5, 2021

Guatemala was one of the last countries in the region to ratify the agreement, since it was until the ordinary session of November 27, 2019, when the Congress of the Republic approved Decree 11-2019, which approves the Agreement establishing an Association between the United Kingdom of Great Britain and Northern Ireland and Central America.

Months before, Costa Rica, Panama, Nicaragua and El Salvador had already confirmed the Association Agreement. Although the trade agreement was ratified in 2019, it was not until January 1, 2021 that it became effective.

The entry into force of the agreement is received with optimism. Norman Laxton, president of the British-Guatemalan Chamber of Commerce (Britcham), told Prensalibre.com that "... Although the agreement comes into force in the midst of the health emergency, 2021 must begin to be seen as the year of economic and business revival."

Laxton added that "... there is an opportunity to review the current trade figures, to improve them in the not too distant future, since there is a potential forward, not only in goods, but also in services and investment from the United Kingdom to attract to Guatemala, but we must work on the conditions."

Check out the "System for monitoring markets and economic situation in Central American countries", developed by CentralAmericaData.



More on this topic

Central America and BREXIT

January 2020

During the eleven months that will pass between the beginning of the exit process from the European Union and the entry into force of the association agreement with Central America, trade relations with the United Kingdom will follow the same rules that have been in place until now.

In July 2019, the negotiations of the Association Agreement with the United Kingdom were completed, which contains the mechanism to address the preferential trade relations regulated between both parties, after the process of leaving the European Union, known as BREXIT, is completed.

Agreement with United Kingdom: Tension Persists in Guatemala

November 2019

Since Congress has not yet ratified the Association Agreement, the exporters' union warns that they will lose the opportunity to sell to that European market on an equal basis with their Central American neighbors.

As part of the United Kingdom's exit from the European Union, Central American countries must ratify the Association Agreement so as not to disrupt trade relations with British companies.

Agreement with United Kingdom: Growing Pressure in Guatemala

September 2019

Executive authorities and business representatives asked Congress to speed up the ratification of the Association Agreement with the United Kingdom, as the process must be completed by 31 October this year.

This petition joins the one made at the end of August, when Simon McDonald, Undersecretary of Foreign Affairs of the United Kingdom, made a tour of the Central American countries, asking that the procedures be speeded up so that the Agreement signed with the region can be ratified.

Opportunities for Guatemala in the Chilean Market

February 2014

On March 24, the Guatemalan Exporters Association will give a presentation on business opportunities in Chile.

From a statement issued by the Guatemalan Exporters Association (Agexport) reads:

The Department of Business Information and Market Intelligence AGEXPORT, INFOEXPORT in partnership with the institution of the Ministry of Foreign Affairs of Chile, PROCHILE, is to hold on March 24, 2014, a presentation on the opportunities for exports and imports in Chile and on the evolution of trade relations between the two countries since the entry into force of the FTA.

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