The possibility of negotiating a free trade agreement with the trade bloc of South American countries is back on the discussion.
The issue will be discussed in detail at the meeting of the Council of Ministers of Economy of the region (Comieco), to be held in El Salvador on December 5 and 6.
Acisclo Valladares Urruela, Minister of Economy of Guatemala, confirmed to Prensalibre.com that "...
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."
The Honduran government has reported that the agreement will take effect on October 1, and that it will be coordinating a visit by a group of Canadian companies in the country in the coming previous.
The Department of Economic Development told Eleconomista.net that "...The entry into force of the FTA between Honduras and Canada "has been set for October 1" after the two countries have "adopted the administrative regulations necessary at the level of customs and the formalities prescribed in the Treaty have been exhausted.' "
The current $550 million from the annual sales of Guatemalan products and services to Mexico could double with the entry into operation of the unified FTA between that country and the Central Americans.
Guatemalans are hoping that exports to the Aztec nation will double with the entry into force of the agreement which unifies the Mexican FTA's that were held separately with Costa Rica, Nicaragua and the CA-3.
In late 2012, one year after the signing of the new trade agreement, trade between Mexico and the region totaled $9.3 billion.
This information was released by the Mexican ambassador in San Salvador, Raul Lopez Lira. "On September 1 the Central American countries will celebrate the first anniversary of the unified treaty between Mexico and the region with a significant increase in trade ...", reported Laprensa.com.ni article.