As the region gets ready to start complying with the US law FATCA, OECD countries are already working on a Single Global Standard for automatic exchange of information.
FATCA could now be joined by the European OECD countries Single Global Standard for Automatic Clearing of CRS Information (Gatca), "... allowing tax information on their residents to be shared between them."
The South Korean government has proposed to Central American countries that they resume negotiations to sign a free trade agreement.
During a meeting between officials of the Ministry of Foreign Trade of Costa Rica and the deputy minister, Moon Jaedo, of the Ministry of Commerce, Industry and Energy (Motie) of South Korea, it was requested "... that the Central American countries evaluate opening up a process of negotiation for a free trade agreement. "
The Ministry of Health and the construction company IBT Health Group reached an agreement to resume construction of work in hospitals in the provinces of Darién, Los Santos and Chiriquí.
In order to start construction, the Comptroller General of the Republic will authorize the agreements and documents signed between the Ministry of Health (MoH) and IBT Health Group.
The Nicaraguan Oil Company has signed a cooperation agreement with a Canadian company for exploration of oil and gas.
Following the agreement signed between the company EastSiberian Plc, belonging to TMX Group in Canada and the National Oil Company of Nicaragua (Petronic) the Ministry of Energy and Mines has been approached in order to start negotiations for the subsequent signing of concession contracts.
Both governments announced that they have signed an agreement to unify customs in order to expedite the transport of vehicles and people, with effect from 1 June.
With this agreement, it is expected that the border between the two nations will be fully liberated for both freight and passengers in December. Immigration procedures will be carried out online or in an office to be located near the border area.
The governments of both countries signed an Open Skies agreement which allows designated airlines to fly between the two countries.
From a statement issued by the Ministry of Public Works and Transport:
The Minister of Public Works and Transportation, Carlos Segnini and his counterpart from Singapore, Lui Tuck Yew, signed a memorandum of understanding which will allow for, in the short term, a formal open skies agreement between the two countries.
The private sector will be proposing to the government the signing of a partial agreement and investment promotion with India and negotiation of a trade agreement with South Korea.
These proposals aim to increase trade relations, where in the case of South Korea, in 2014, Guatemala reported imports of $402 million and exports worth $269 million, with the most notable products sold being sugar, lead and coffee.
The Solis administration has signed a memorandum of understanding with the Chinese government to begin studying the feasibility of setting up a special economic zone in Costa Rica for enterprises from China.
As part of the agreement signed between the two governments, feasibility studies will be started along with defining where the zone will be sited.
Promerica Group has proposed to the concessionaire of the project HKND the opening up of bank branches along the Canal and the provision of other financial services during the execution of the work.
The Production Bank, Banpro, is looking to develop a service plan appropriate to the measures and requirements of HKND Group, which would include executive support, differentiated tariffs and especially the installation of branches along the Grand Canal.
The Attorney General Prosecutor's Office has announced that the government and the Italian company Enel Green Power have reached an agreement to end the conflict over the ownership structure of LaGeo.
From a statement issued by the Attorney General of the Republic of El Salvador (FGR):
Washington, DC The State of El Salvador and the Italian company ENEL Green Power have reached a framework agreement with a comprehensive solution to the existing dispute over the ownership structure of the company LAGEO SA de CV.
With the opposition from the private sector, the government insists on delaying for five years the fulfillment of the agreement which establishes a reduction in the level of sulfur contained in diesel.
April 15, 2015 is the deadline given by the Council of Ministers of Economy and Foreign Trade of Central America (Comieco) to reduce the concentration of sulfur in diesel.
At the request of the parties, arbitration and dialogue has been suspended for 30 days in order to reach an agreement over the shareholding structure of the company LaGeo.
From a statement issued by the Government of El Salvador:
Talks to find solutions to disputes between the State of El Salvador and the Italian company ENEL Green Power, over the ownership structure of the company LAGEO SA, de CV, started today in Washington, DC, with a meeting taking place on the premises of the International Centre for Settlement of Investment Disputes (ICSID), which is the forum for arbitration and conciliation of the World Bank Group.
Representatives from the two governments signed an agreement for exploration of investments in Nicaraguan geothermal energy.
The agreement was signed by Minister of Industry and Innovation in Iceland Elin Ragnheidur Arnadottir and the Minister of Energy and Mines, Emilio Rappaccioli from Nicaragua.
Elnuevodiario.com.ni reports that "... The Icelandic delegation also included an expert in geothermal parks, Albert Albertson, who visited volcanic areas and power generation projects being developed by Nicaragua in the geothermal sector."
The Ministry of Health has announced that it has agreed to pay in November $13.1 million of the $73 million that it owes for the purchase of medicines, and the rest in the first quarter of 2015.
After having made a payment a few days ago of $3.2 million, part of the total debt of which the state owes pharmaceutical companies, the government announced that an agreement has been reached for the remaining payments, one part will be paid this month and the balance next year.
The government is reviewing the rules on tax information to adapt them to international requirements, trying not to affect the competitiveness of the banking center.
The review will be carried out by the newly created Presidential High Level Committee for the Defense of International and Financial Services (Candsif) which is composed of representatives from the public and private sector and seeks to provide input on the matter without neglecting national interests.