FTA drives growth in Guatemala

The free trade agreements with the United States have contributed to the economic growth of partner countries, said the American ambassador to Guatemala, Stephen McFarland.

Tuesday, September 9, 2008

McFarland explained that the export of Guatemalan products to the American market have increased 13%, from $963 million in 2006 to $1.1 billion in 2007.
The diplomat referred to the commercial treaty at the inauguration of the XII Food Fair in Guatemala yesterday, in which the US is participating as a special guest along with representatives from the private sector.

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More on this topic

Nicaragua 2015: No More Korean Cars, U.S. Cars Instead

February 2014

Companies are preparing for the process of tariff reduction for imported goods and services from the United States under the FTA.

Starting 2015 various products will be able to come into Nicaragua from the U.S. tax free. Employers are now preparing for the tariff reduction process of the Free Trade Agreement between the U.S., Central America and Dominican Republic (DR -CAFTA).

Nicaragua and DR-CAFTA

April 2011

Nicaragua is one of the countries which has benefited the most from the Free Trade Agreement.

Robert Callahan, U.S. Ambassador in Nicaragua, added that the Central American country currently has a positive trade balance of $1.078 with the U.S.

Additionally, exports to the North American country have increased 71% in the past five years, from $1.170 million in 2005 to $2.012 million in 2010.

Guatemala, 5 Years after CAFTA-RD

June 2010

Exports have grown a mild 3.4%, with agricultural goods leading the way; Guatemala’s trade balance with the U.S. remains negative.

It is possible that the U.S economic crisis prevented the treaty from producing better results for Central American nations, but it is also probable that it helped soften the negative economic effects of said crisis.

Trade with US up by 20 percent in two years of Cafta

July 2008

Trade in some of the countries involved has grown by 20 percent since the introduction two years ago of the Cafta accord between the United States and Central America and the Dominican Republic, according to US Department of Trade figures.

The Cafta countries – excluding Costa Rica, which las a latecomer to the pact – by the end of last year had registered exports of US18.75 billion to the United States, while recording imports of close on US$22.41 billion.

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