Sugar: Guatemala Loses for Lack of FTA with Korea

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.

Wednesday, February 19, 2020

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.

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

However, so far Guatemala is the only Central American country still negotiating the FTA with South Korea, since El Salvador, Panama, Honduras, Nicaragua and Costa Rica signed it in February 2018.

See also "Crops in Central America: Main Figures in 2018"

Alfredo Vila, president of the Guatemalan Sugar Growers Association (Asazgua), told Prensalibre.com that "... We have the support of the government and I think it is important to sign the Free Trade Agreement (FTA) with South Korea, where Guatemala was left out. The industry sold and marketed close to 400 thousand metric tons ™ to Korea and with the non-signature of the FTA that market was lost."

Vila added that in Korea "... there is a small tariff - imposed - that makes it impossible for us to compete, since Korea signed an agreement with Thailand and other countries that supply it with sugar. So that small tariff and by not signing the FTA leaves us out with those 400,000 tons and now Korea is not being traded."

Do you need detailed information on crops in Central America? Contact Us.








this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Guatemala-South Korea FTA: Negotiations Restart

September 2019

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.

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.

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.

FTA with South Korea is Ratified

August 2019

It was announced that the National Assembly of South Korea ratified the Free Trade Agreement signed with Central America.

The announcement was made by Seok-hyun Lee, deputy of the Korean assembly, who reported on the evening of August 2: "... We, the Korean National Assembly last night ratified the FTA with the nations of Central America. I hope you will benefit each other."

Sugar: Export Quota to United Kingdom

July 2019

By signing the Association Agreement with the European country, Central America achieved an export quota of 56 thousand metric tons of sugar free of tariffs.

Days ago it was reported that the association agreement signed guarantees Central American countries that with the departure of the United Kingdom from the European Union, there will not be a legal vacuum that interrupts trade relations with that country, while maintaining tariff preferences and legal guarantees for companies exporting to the United Kingdom.

 close (x)

Receive more news about Agriculture & Food

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Gluten-free food business for sale

Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand.
The OHNE brand has 8 product lines: square bread, sweet...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Oct 26)
Brent Crude Oil
41.440
Coffee "C"
108.05
Gold
1,896
Silver
24.470