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Guatemala Backs Out of FTA with European Free Trade Association

Article Summary:

Despite having participated as an observer last February in the first round with the American delegation, Guatemala will not negotiate a Free Trade Agreement with countries of the European Free Trade Association.

Photo Credit: Prensa Libre

Original Article Text From Prensa Libre via Google Translate :

Country Ruled Efta FTA

The decision was confirmed at the meeting of National Council for Promotion of Exports (CONAPEX) on 24 May.

Maria Luisa Flores, Vice Minister of Economy, said that some business sectors requested to give priority to other commercial fronts Guatemala is working.

The EFTA countries are Switzerland, Iceland, Liechtenstein and Norway, which does not belong to the European Union bloc.

“There are limited financial and human resources that are negotiating other trade agreements in force,” he said.

She explained that the technical teams of the deputy minister, are focusing on trade negotiations with Trinidad and Tobago, extension of the FTA with Colombia and reviewing the proposed closing of the agreement with Canada.

Moreover, the review of the Partial Agreement with Venezuela and progress with the Caribbean Community (Caricom).

“In the negotiations between Central America and Efta countries there is a clause in which Guatemala could join in the future,” said Flores.

Guillermo Rodríguez Mahuad, a representative from the Chamber of Commerce in Guatemala CONAPEX said it was unfortunate not to negotiate with those countries.

“We need open markets and better opportunities for open sourcing to enable the consumer to have new products and prices,” he said.

Rodríguez Mahuad said that Guatemala can offer an attractive range exported to these countries and vice versa.

The CONAPEX is made up of representatives of business associations, cooperatives and the Ministries of Economy, Foreign Affairs, Finance, Agriculture and the Bank of Guatemala.

Link to Original Article:

From Prensa Libre

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