• KITA hosts “Doing Business with Guatemala” on September 27th
    2021-10-12 hit 526

    KITA hosts “Doing Business with Guatemala” on September 27th


    - The Guatemalan delegation visits Korea to negotiate joining the Korea-Central America FTA

    - Industry representatives of Guatemala lay a foundation of economic cooperation with Korean textile and biomedical companies



    Korea International Trade Association (Chairman: Christopher Koo) invited the delegation of the Guatemalan Ministry of Economy led by Minister Antonio Marlouf to the Trade Tower in Samseong-dong on September 27th.


    The members of the Guatemalan delegation include the Minister of Economy and nine representatives from the following organizations ? the Guatemalan Exporters Association (AGEXPORT), the Chamber of Commerce of Guatemala (CCG), the Chamber of Agriculture (CAMAGRO), the National Coffee Association (ANACAFE) and Metalugia. These members, who represent Guatemala’s main industries, had an opportunity to engage with 15 Korean companies during Doing Business with Guatemala networking event. They had meetings with Korean companies making investments in Guatemala ? Sae-A, Hansae and BYN Black Yak and also met with M.I. Coffee, Jyadeng, Sunhill Fisheries ? a produce/fisheries importing company and Meta-Biomed ? a medical equipment producing company.


    The delegation from the Guatemalan Ministry of Economy visited Korea to re-start negotiation in full swing to gain membership of the Korea ? Central America FTA, which Guatemala failed to join due to heightened opposition in the country regarding this FTA. Ambassador Marco Tulio Chicas Sosa ? the Guatemalan head of mission to Korea is reportedly known to have played a major role in realizing this day’s event, who put emphasis on Korea ? Guatemala bilateral economic cooperation.


    Hakhee Jo, the Vice President for International Affairs at KITA, highlighted the importance of Guatemala by mentioning, “Guatemala has a geographical advantage of being an adjacent country to Mexico, which makes Guatemala a gateway to the United States and the Latin American region” and added, “Signing an FTA with Guatemala will expand our exports to these regions.” Mr. Jo also said, “KITA has been preparing in a pre-emptive manner to push Korea ? Guatemala bilateral relations to the next level by signing an MOU with the Coordinating Committee of Agricultural, Commercial, Industrial, and Financial Associations (CACIF) ? a coalition of major business in Guatemala” and stressed, “We are committed these efforts will translate into concrete results of economic cooperation.”

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