Guatemalan exporters trust prompt accession to FTA with South Korea

Published 2021년 9월 29일

Tridge summary

The Guatemalan Association of Exporters (Agexport) is optimistic about Guatemala's potential inclusion in the Free Trade Agreement (FTA) with South Korea, following a recent mission to South Korea to negotiate the terms. The FTA could provide significant business opportunities for Guatemalan exports such as fresh and processed shrimp, sesame, avocado, mango, manufacturing, and tourism. In 2020, Guatemala's exports to South Korea were valued at $85 million, while imports were $248 million. Despite these imbalances, the potential market of 52 million people offers a promising platform for Guatemalan products like fruit, coffee, shrimp, sesame, textile crafts, decorative items, and furniture. Negotiations for Guatemala's entry into the FTA are expected to conclude by the end of the year.

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Original content

EFE.- The Guatemalan export sector expressed this Wednesday its confidence in the adherence of its country to the Free Trade Agreement (FTA) that the other Central American nations currently have with South Korea, given the business opportunities offered by the market Asian. The Guatemalan Association of Exporters (Agexport) explained in a press release that a mission from its entity was recently in South Korea as part of an official delegation that seeks to negotiate Guatemala's accession to said FTA. "The expectations of exporters are high and positive due to the business opportunities for products such as fresh and processed shrimp, sesame, avocado, mango, manufacturing and tourism," said the export union. According to Agexport, finalizing the free trade agreement with South Korea, the fourth largest economy in Asia, is "fundamental" for Guatemala. According to official data, in 2020 Guatemala exported products to South Korea for 85 million dollars, while imports reached 248 ...

Source: Forbescentroamerica