Guatemala to be left out of FTA with South Korea

Opposition from industry and in particular from the metallurgical sector has forced the government to reject the possibility of signing the agreement in June.

Friday, March 31, 2017

In the view of the metalworking sector, the agreement constitutes a threat to the domestic industry. Estuardo Rivera, president of the Union of Metallurgy, told Prensalibre.com:   "...'It is not that we are opposed to the agreement, what happened is that 7% of the products to be exchanged in the steel sector were killing off local industry'."

Elperiodico.com.gt explains that "...In the final phase of negotiations, the Chamber of Industry raised its hand and stated its opposition to the agreement for believing it to be a threat to  metallurgy -steel- sector, while other productive sectors such as export, trade and agriculture, asked for it to be signed, which has caused a difference of opinion between the unions."  

See article: "Korea Withdraws Country's Texts From the FTA". (In Spanish)

From a statement issued by the Ministry of Economy of Guatemala:

Authorities from the Ministry of Economy of Guatemala and Korean authorities have agreed not to initialize the texts of the FTA with Korea, having not found a balance that meets the interests and sensitivities of both countries.



More on this topic

Progress in FTA with South Korea

August 2016

Central American coffee will incur 0% tariff in 10 years, while bananas, vegetables and baby vegetables will be shielded from the entry into force of the agreement.

In the fifth round of negotiations which will be held in Seoul from August 8 to 12 it is expected that progress will be made on the definitions for the treatment of 9% of the universe of products that have not yet been analyzed.

Fourth Round of Central America - South Korea FTA

May 2016

Negotiations have been finalised on the environmental chapter and progress made on Trade Facilitation and the texts of the chapters on sanitary measures, technical barriers and government procurement.

From a statement issued by the Ministry of Economy of Guatemala:

Guatemala, May 30, 2016.

1st Round of Central America - South Korea FTA Concludes

September 2015

In the first round held in South Korea modalities and staging categories for trade were defined.

In Seoul, Korea, the First Round of Negotiations of the Free Trade Agreement between Central America and -TLC- South Korea was held.

After signing the general framework of negotiations last July, the Central American Work teams met from 21 to 25 September, with their counterparts from the Ministry of Trade, Economy and Energy of South Korea.

Guatemala seeks FTA with South Korea

July 2011

A first feasibility study, conducted by the Ministry of Economy in Central America, will be presented on July 7.

The report will "assess whether making a free trade agreement is warranted, seeing what will be sent and received, though we must emphasize that Korea is a very good market," said Francisco Menendez, president of the Guatemalan Association of Exporters (Agexport).

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