Guatemala-South Korea FTA: Negotiations Restart

Guatemalan authorities announced that in the first week of October they will travel to South Korea, with the aim of restarting negotiations of the Free Trade Agreement between the two economies.

Thursday, September 5, 2019

Guatemala is the only Central American country still negotiating the Free Trade Agreement (FTA) with South Korea, since El Salvador, Panama, Honduras, Nicaragua and Costa Rica signed it in February 2018.

You may be interested in "FTA with South Korea is Ratified

Regarding the changes that have been made in the negotiation process, Julio Dougherty, Guatemala's deputy minister of Integration and Foreign Trade, told Dca.gob.gt that "... on Korea's side a new negotiator of the process was appointed. In the case of Guatemala, the country's private sector has been asked to take a joint stand on its interests."

Dougherty added that "... he is confident that after the meeting with the Korean authorities a prompt resolution will be reached, so that Guatemala will not remain at a disadvantage against other economies in the region."

The trade agreement between South Korea and the other Central American countries is expected to enter into force soon. In the case of El Salvador, the Ministry of Economy reported days ago that the exchange of diplomatic notes of the trade agreement between the two nations is still pending, in which it must be determined when it would begin to apply.

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More on this topic

Sugar: Guatemala Loses for Lack of FTA with Korea

February 2020

Because Guatemala is the only country in the region still negotiating an FTA with the Asian country, sugar producers estimate that they have stopped selling about 400,000 metric tons.

Months ago it was reported that Guatemalan authorities would travel to South Korea in the first week of October, with the aim of restarting the Free Trade Agreement (FTA) negotiations.

Promise to Sign FTA with South Korea

August 2019

Guatemalan authorities, the only country in the region that is negotiating the FTA with Korea unilaterally, announced that they will speed up efforts to sign the agreement before the end of the year.

The announcement was made by President Jimmy Morales in the company of the Minister of Economy, Acisclo Valladares Urruela, before the members of the board of directors of the National Coffee Association (Anacafé), which is one of the sectors that is demanding the adhesion of the country to the Free Trade Agreement (FTA) between Central America and South Korea.

Guatemala - Peru FTA Getting Closer

February 2019

Guatemalan authorities announced that negotiations with the South American country are practically finished, so that the entry into force of the agreement would soon be finalized.

Because of a series of disputes generated by the imposition of tariffs on Guatemalan sugar, the entry into force of the trade agreement, which had been signed by both countries in December 2011, was postponed.

Guatemala: 2019 International Business Agenda

January 2019

For this year, one of the priorities Morales administration has as a priority to advance in the signing of free trade agreements with South Korea, Israel and the United Kingdom.

Representatives of the Ministry of Economy (Mineco) reported that by 2019, among the priorities of the agenda is the resumption of discussions of the trade agreement being negotiated with South Korea.

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