Guatemala-Israel FTA

By Mayora IP

The governments of Guatemala and Israel concluded on August 29, 2019, the first round of negotiations for a Free Trade Agreement (FTA), which seeks to further strengthen both countries relations.

The Guatemalan Minister of Economy, Acisclo Valladares, commented in a press conference at the end of the meeting that the FTA is discussed "in a historical moment”, refering to Guatemala’s 2018 decision to open an embassy in Jerusalem. "We want this trade agreement to be as broad as possible, because with Israel there are many issues in common”, Valladares stated, specifically naming the agricultural industry as an area of interest for Guatemala in which the two countries “have a lot to exchange”. Las year, Guatemala’s proposal to the Israeli government to start negotiations for a FTA begun with the focus on favoring agricultural products and producers.

Valladares was positive on finishing negotiations in 2019 so the FTA can come into force as early as 2020. "What we expect is an exponential increase in commercial matters. We have a great commitment from Israel”, he said.