During the eleven months that will pass between the beginning of the exit process from the European Union and the entry into force of the association agreement with Central America, trade relations with the United Kingdom will follow the same rules that have been in place until now.
In July 2019, the negotiations of the Association Agreement with the United Kingdom were completed, which contains the mechanism to address the preferential trade relations regulated between both parties, after the process of leaving the European Union, known as BREXIT, is completed.
Up to October, foreign sales totaled $8.978 million, almost 3% less than in the first ten months of 2017, and the main reason for the decline is the fall in international prices of some agricultural products.
The Banco de Guatemala reported that the most important products according to their participation in the total value of exports were: Clothing with US$1,209.4 million (13.5%), Banana with US$678.1 million (7.6%), Coffee with US$647.1 million (7.2%), Sugar with US$545.4 million (6.1%) and Fats and edible oils with $457.9 million (5.1%).These products represented 39.5% of total exports.
The Guatemalan bank G&T Continental has announced the opening of two new branches in the banking center of Panama.
The G & T Continental Bank of Guatemala plans to open two new branches in Panama in 2014. The company already has two other branches in the country.
Amador Carballido, development manager of G & T Continental explained that "in this country, with 3.8 million people, we estimate that there are more than five thousand customers."
The banks have announced an agreement to provide a remittance service known as ExpressSend.
The new service will allow Guatemalans based in the U.S. to directly deposit money into savings accounts in Guatemala using any of the six thousand Wells Fargo service points.
"Wells Fargo is already operating remittance transactions with Banco Industrial (BI) and the Rural Development Bank (Banrural) in the country.
In short, Financia in Costa Rica and Banco Financia (BMF) in Panama will begin to use the Guatemalan financial company’s brand.
Both companies were already part of the G&T Continental Financial Group which is now completing the formalities to change the name with the respective supervisory authorities in Costa Rica and Panama.
In this way, G&T’s presence now covers four Central American countries by adding Panama and Costa Rica to Guatemala and El Salvador, where it was already operating.