Guatemala, India Begin Free Trade Agreement Talks

by Mike Godfrey, Tax-News.com, Washington

20 October 2014

Officials from Guatemala and India on October 15, 2014, formally agreed to begin negotiations towards a free trade agreement (FTA).

Guatemala's Minister of Foreign Affairs, Carlos Raul Morales, met with India's External Affairs Minister, Sushma Swaraj, during a two-day visit to India. The two ministers signed a partial agreement, considered to be "the little brother" to an eventual full FTA.

Morales said that a deal would improve Guatemala's access to the Indian market. According to Guatemala's Foreign Ministry, Guatemala's trade deficit with India averages USD152m per year.

In a bid to expand its treaty network, last month Guatemala added its name to a multi-party FTA with Mexico. The terms of the FTA also apply bilaterally between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.

TAGS: free trade agreement (FTA) | India | export duty | tariffs | Mexico | Guatemala | import duty | trade | Central America

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