On January 24, the bilateral agreement known as "Open Skies" came into force, which considers flights between both countries as domestic.
The agreement reached between the two countries, which aims to promote tourism and investment, was announced by the vice presidents of Guatemala, Guillermo Castillo, and El Salvador, Felix Ulloa.
The Congress approved the Association Agreement between the United Kingdom and Central America, which aims to protect trade relations between the two economies within the framework of the Brexit process.
In the Ordinary Session held on November 27, Decree 11-2019 was approved, with which the Agreement establishing an Association between the United Kingdom of Great Britain and Northern Ireland and Central America is approved, informed the Congress.
The protocol allowing Guatemalan companies to sell live cattle in the neighboring country will come into effect on December 15, 2019.
After the negotiation process between Mexican and Guatemalan authorities has concluded and the sanitary regulations for the entry of animals have been approved, the Central American country has the green light to start selling live cattle.
Deputies of the Guatemalan Congress ask that the agreement that regulates the commercialization of antibiotics and ophthalmological steroids, recently approved by the Executive Branch, be repealed.
Controversy between representatives of the legislature and the executive began after the Ministry of Public Health and Social Assistance (MSPAS) approved Agreement 181-2019 on August 7, 2019, which stipulates that antimicrobial drugs (oral and parenteral antibiotics) and ophthalmic steroids must be sold with a prescription. See full agreement.
The signed association agreement "guarantees Central American countries that with the departure of the United Kingdom from the European Union, there will be no legal vacuum and trade relations with that country will be interrupted and tariff preferences will be maintained, with all legal guarantees for Central American exporters to the United Kingdom."
The government of Guatemala informed that Julio Dougherty, Vice-Minister of Integration and Foreign Trade, together with the Ministers of Economy and Foreign Trade of Central America and the United Kingdom Ambassador in Costa Rica, Ross Denny, signed in Managua the document that establishes the Association Agreement that constitutes the mechanism to attend the preferential commercial relations regulated with the United Kingdom through the Association Agreement between Central America (CA) and the European Union (AACUE), on the occasion of BREXIT.
Shrimp, mangoes, confectionery, non-alcoholic beverages and electric accumulators are some of the products that will have tariff benefits with the signing of the Partial Scope Agreement between both countries.
From the press release of the Ministry of Economy of Guatemala:
In Guatemala, agricultural entrepreneurs insist that opportunities will be lost if the agreement is not signed, while industrialists propose analyzing the conditions in more detail.
The National Coffee Association believes that the Ministry of Economy has abandoned talks with the Korean government, which harms them since the Asian country is a growing market that recognizes the quality of the grain.
Both countries are committed to "accumulating raw material of Ecuadorian origin, and then processing it in Guatemala and exporting it to the European Union, or vice versa."
Julio Dougherty, Vice Minister of Integration and Foreign Trade of Guatemala, said during his participation in the signing of the agreement that "through the agreement we will have the possibility of forming value chains that can be used by small, medium and large entrepreneurs, without discriminating against anyone".
Compensation of $43 million to the State and a concession for 21 years for APM Terminals are part of the agreement made with the foreign company for it to operate the container terminal.
According to an article on Publinews, Anabella Morfin, Attorney General of the Nation, explained that"...APM and EPQ pledged to desist with the courts with their efforts to obtain a declaration of voiding due to incompetence, in order to streamline the operation of TCQ. "
Operations in Santo Tomas de Castilla are back to normal, after truck drivers and customs agents agreed with the Government to improve conditions at the terminal.
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. "
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 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.
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. However, the government argues that it does not yet have the necessary equipment "... to control product quality and reassure consumers that they are purchasing low sulfur diesel."
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