Ecuador Seeks to Restore FTA with Guatemala

During the recent visit of the Ecuadorian president to Guatemala, the intention to take up again the issue of the Free Trade Agreement between the two countries, whose negotiation was stalled years ago, was expressed.

Friday, January 17, 2020

As a result of the inauguration of the new Guatemalan government, Ecuadorian President Lenin Moreno visited the Central American country and took advantage of the occasion to meet with Guatemalan businessmen. In this session he discussed the signing of the Free Trade Agreement.

See "Guatemala Reviews FTA with Ecuador"

According to a statement from the Ecuadorian presidency, Moreno explained to Guatemalan businessmen the benefits of the Law for the Promotion of Production that has passed through the National Assembly of Ecuador, and also stressed the need to finalize a Free Trade Agreement and other actions to strengthen trade between the two economies.

In this regard, Juan Carlos Tefel, president of the Coordinating Committee of Agricultural, Commercial and Financial Associations of Guatemala (Cacif), told that "... in Ecuador there is already significant Guatemalan investment in the industrial and agricultural sectors. This nation has made important reforms that encourage foreign investment."

Jorge Briz, head of the Guatemalan Chamber of Commerce, said the two countries have "... complementary economies and great opportunities in industrial and commercial areas, from tourism, infrastructure and regional strategic alliances that will generate development and employment."

According to Ecuadorian officials, work will be done to put into operation a Binational Cabinet, through which progress could be made on several economic issues.

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