Progress in FTA with South Korea

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.

Wednesday, August 3, 2016

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. These products are sugar, beef and pork, plastic and metal.

Deputy Economy Minister, Enrique Lacs, told that "... 'coffee will incur 0% tariff in 10 years, and bananas, vegetables and baby vegetables will enjoy free trade, and for Korea it will be vehicles, this [is what has been agreed] so far'."

"... According Lacs, the aim is for local products to arrive in the Korean market at better prices, since there are agricultural commodities and processed fruit and meat products that incur 100% tariff." We hope that in November the treaty will be finalised closed'." 

A statement issued by the Ministry of Economy of Guatemala states that "... In this work week, negotiations have taken place on market access, rules of origin, intellectual property, telecommunications, trade in services, investment, financial services, among other things, so as to advance consensus and expedite the process for a fifth round of FTA negotiations to be held from August 8 to 12 in South Korea."

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Bilateral negotiation Between Nicaragua and South Korea

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Central America starts negotiations for an FTA with South Korea

June 2015

Several years after conversations began, Central America and South Korea finally started the formal negotiations for a free trade agreement.

From a statement issued by the Government of Guatemala:

In Houston, Texas, the Minister of Economy of Guatemala, Sergio de la Torre, and his Central American counterparts in charge of foreign trade, met with Korean Minister of Commerce, Industry and Energy Yoon Sang-Jick, to start negotiating the Free Trade Agreement between the Republic of Korea and the Central American republics.