Fifteen years after the first approach was made, the countries have not reached an agreement on the conditions of entry of products such as textiles, meat and sugar.
Since 2001, Guatemala and Canada have been trying to close negotiations to create a free trade area between the two markets. Besides pending negotiations related to phytosanitary issues, labor and environment, the definition of the terms of trade of products such as sugar, textiles, beef and pork has still not been made concrete, and there is no light at the end of the tunnel.
The plan is to strengthen trade relations with Nicaragua and negotiate a trade agreement with the group composed of El Salvador, Honduras, Guatemala and Nicaragua.
At a meeting between the Canadian Foreign Minister John Baird and the Nicaraguan President Daniel Ortega, the official explained that "our trade has increased five times in recent years. I want to work with you, the government, the Nicaraguan people and businesses to continue to improve our business relationships. "
The annual export growth of the maquiladora industry in Honduras is estimated at $200 million, with the entry into force of the trade agreement with Canada.
Laprensa.hn reports that "About 200 million dollars in export growth and the creation of up to 10,000 new jobs is projected for the Honduran maquila industry in 2013 with the entry into force of the FTA with Canada, assured representatives from the sector.
The Ministry of Economy has called upon the private business sector in order to decide whether the country should finalise FTA negotiations with Canada.
Negotiations for this agreement, which have been going on for ten years, started with the participation of countries in the CA-4 (Guatemala, Honduras, El Salvador and Nicaragua) and to date only Honduras has signed.