In order to complete the accession process, the Industrial Property Law must be published in the Official Journal, as well as the registration of 114 European GIs.
In addition to ratifying the trade agreement with the European Union, Congress also passed the Industrial Property Law. Stella Zervoudaki, EU ambassador in Guatemala, congratulated the members for having reviewed and given approval to the agreement which "is of paramount importance to Guatemala".
Congress has until today to approve the amendments to the Industrial Property Act, necessary for the entry into force of the Association Agreement with the EU.
According to Stella Zervoudaki, European ambassador in Guatemala, the adoption of this law requires a 60-day period, plus two for the publication period, so that any interested party can submit their opposition, therefore even if Guatemala ratifies the agreement, scheduled for July 15, the country can not make use of the Association Agreement.
Those countries who have not ratified the Association Agreement with the European Union are at risk of losing markets compared to other Central American nations.
In an interview in Siglo21.com.gt by Celso Solano, with the ambassador to the European Union in Guatemala, Stella Zervoudaki, the official explained that there will not be any sanctions if Guatemala fails to ratify the agreement on or before May 15, but the country faces other threats.