The Chamber of Commerce is demanding action by the Central Bank on the value of the Quetzal against the Dollar.
The Guatemalan Chamber of Commerce (CCG) wants the Central Bank (Banguat) to intervene the market and stop the devaluation of the national currency, the Quetzal. For this, the Chamber will run an advertising campaign, explaining the consumer its reasons and problems.
At the fair which ends today, Guatemalan garment companies have received purchase orders for $40 million.
As is customary, business deals will be completed during the weeks following the even which could total $40 million.
Orders have been made for clothing, raw material purchases and machinery.
Urías Gamarro wrote in his article in Prensalibre.com: "Carmen Sowa, administrative manager of the Jerry Leigh Company, signed a contract for national companies to supply 200 thousand garments per month during the second half of the year. In turn, these garments will be sold in stores like Wal-Mart, Sears and Kemmore."
This coming May 6, businessmen from Guatemala will participate in a round of negotiations in El Salvador.
Guatemalan mission executives will explore market opportunities in the areas of food, ceramics, books, cosmetics and pharmaceuticals, among others.
The event, organized by the School of Foreign Trade of the Guatemalan Association of Exporters (AGEXPORT), "will try to put ten Guatemalan entrepreneurs in contact with some 70 delegates from the country's [El Salvador] production sectors," according to an article reported in Prensa.com.
Khalil Musa, 74, was the owner of the Lacetex S.A., a textile company and former director of business associations in Guatemala.
The businessman was attacked by motorists while he was in a vehicle with his daughter, who also died in the incident.
Musa integrated the board of directors of the Chamber of Industry between 1991 and 1995 and he also formed part of the board of directors of the National Coffee Association and the Association of Exporters of Guatemala.
The amount exported in 2008 to US and European markets was 15,200 tons and 16 thousand tons are expected for this year.
Mangoes, together with melons and papaya are among the most sought-after fruit abroad.
SigloXXI.com reported statements by the chairman of the Mango Committee of the Guatemalan Association of Exporters (Agexport), Eddy Martínez: "There are 6 thousand hectares planted with export product and it is growing annually by about 400 hectares. Mango is one of the non-traditional crops whose exports have also increased in terms of production plants."
The "ABC of exports" program will be taught by the School of Foreign Trade of the Guatemalan Association of Exporters.
According what Roxana Larios reported in an article in Sigloxxi.com, "As a form of support for the export sector, the Guatemalan Association of Exporters (Agexport), through its School of Foreign Trade (ECE), is preparing the implementation of a new diploma course in which tools for entrepreneurs to trade their products in different markets will be provided.
Sector entrepreneurs are focused on increasing the added value of the garments to offset the fall in demand abroad.
According to the Commission on Textiles and Clothing (Vestex) of the Guatemalan Association of Exporters (Agex-port), there were $202 million exported in January and February 2009, $84.2 million less than during the same period last year when the total was $286.2 million.
Exports to the US, Central America and Europe fell by 1.3%, 7.2% and 51.8% respectively.
Statistics from the Bank of Guatemala reflect the numbers for January 2009 when compared to January 2008.
Some of the sectors most affected were coffee and petroleum, with drops of 18.8% and 65%, and the textile industry, whose exports to the U.S. decreased by 29.2%.
Guatemalan business leaders are optimistic about the election of the new president of El Salvador.
La Prensa Libre of Guatemala published the comments of several business leaders about future trade relations with El Salvador, which accounted for $973 million in exports and $692 million in imports in 2008.
According to what the newspaper published, entrepreneurs are confident that “...there will be a continuation of processes such as the customs union and the encouragement of imports and exports between Guatemala and El Salvador, which is the second largest trading partner."
Export revenues grew by 2.8% and tourism by 4.3%, but remittances fell by 9.6%.
The statistics published by the Bank of Guatemala and noted in sigloxxi.com, referred to the period between January 1 and March 5.
The drop in remittances is highlighted: “In February of this year, $281.9 million entered the country from family remittances, an amount $36.4 million less than what was captured during the same month in 2008, a decrease of 11.4%.
The Government, in association with the exporting companies will promote productive projects, expected to create 31 thousand jobs.
Elperiodico.com.gt publishes: "The governmental commitment is to provide $22.2 million (Q175 million) in projects run by the Agricultural en Economics ministeries, whilst the exporting companies will invest $10.2 million (Q80.7 million)"
In one week the currency went from Q7.77 to Q7.91, the biggest increase since October 2004.
Elperiodico.com.gt reports: "The exchange rate is finally reaching its real levels, in previous years there was the feeling that it was overvalued," said Tulio Garcia, president of the Guatemalan Association of Exporters (Agexport), in comments about the recent upward tendency of the US dollar.
After the signing of the Authorization Protocol between the two countries, local producers project an increase of 7.5% in sales.
Prensalibre.com reports: "The protocol, which was approved by the Ministries of Agriculture in both countries, will regulate the procedures for the processing of said fruit, in order to maintain phytosanitary control, as well as certifying the packers and verifying the quarantine process to which the product is subjected.
The non-traditional products sector closed 2008 with $2.9 billion in exports.
According to the article published by the Prensa Libre daily, "...the chemical subsector is in first place with $900 million in exports, followed by food at $275 million, and construction materials at $208 million and then plastics at $138.4 million."
It is expected that in 2009 Guatemala will have many opportunities to get low volume order in specialized markets, especially in Mexico and the United States.