Doing Business in Guatemala
EENI - Business School.
Subject (Course): International Trade and Business in the Republic of Guatemala. Syllabus:
- Introduction to the Republic of Guatemala (Central America).
- Doing Business in Guatemala City.
- Guatemalan Economy
- International Trade of Guatemala
- Foreign Direct Investment (FDI) in Guatemala.
- Case Study: Business Opportunities in Guatemala:
- Call centres
- Business Process Outsourcing
- Introduction to Spanish
- Access to the Guatemalan Market
- Business Plan for Guatemala
Objectives of the subject “Doing Business in the Republic of Guatemala”:
- To analyse the Guatemalan economy and foreign trade
- To evaluate business opportunities in the Republic of Guatemala
- To explore Guatemala's trade relations with the student's country
- To know Guatemala's Free Trade Agreements (FTAs)
- To develop a business plan for the Guatemalan Market
Sample of the subject - Doing Business in Guatemala:
Subject Description: Foreign Trade and Business in Guatemala.
The Republic of Guatemala.
- Capital: Guatemala City
- Guatemala's population is 16 millions of people, 85% of Guatemalans are less than forty-five years
- Borders of Guatemala: Mexico, Belize, Honduras, and El Salvador
- Area of Guatemala is 108,889 square kilometres
- Guatemala has an excellent strategic position and has substantial preferential market access.
- The main religion in Guatemala. Christianity: Catholicism (8 million) and Protestants (5
- Guatemala belongs to the Christian Civilisation - Latin American area
- Guatemala gained independence from Spain in 1821
- The main language of Guatemala is Spanish.
- Abolition of slavery in Guatemala:
Guatemala is the biggest market in Central America.
- Macroeconomic stability of Guatemala enabled a 0.6% economic growth, positioning Guatemala as one of the few countries with positive economic growth
in the global financial crisis.
- With a gross domestic product of 38,139 million dollars, representing
the 33% of the total GDP of Central America.
- Such economic growth continues based on a Government policy to promote development;
an approach that has fostered the simultaneous endeavours of the public and private sectors, facilitating the economic boom and access to key Global Markets.
- Guatemala serves as the axis of Mesoamerica, a region
with high potential due to fifty urban centres conforming the region, twenty-five of which are situated in Central America and with a population of 68 millions of people and an economy of 154 billion dollars.
- Guatemalan currency: Quetzal
- Guatemala is experiencing strong growth in the outsourcing
industry and is fully exploiting its new position as a destination
for call centres and business process outsourcing (BPO).
Foreign Trade of Guatemala/FDI
Guatemala is becoming one of the main emerging markets within the region:
- Geographical location of Guatemala is strategic; Guatemala is an
hub for the biggest regional and international markets.
- Guatemala has advantaged market access to both the Atlantic and the Pacific Oceans, facilitating international trade with Asia, North America, and Europe, through modern seaports.
- The total exports (FOB) of the Republic of Guatemala: 808 million dollars.
- The total value of Guatemalan imports: 934 million dollars.
- Tax Authority is the responsible body for managing the customs system of Guatemala.
- In the Republic of Guatemala, there are over thirteen operational
zones, as well as industrial parks located in strategic areas in Guatemala.
- Guatemala is the world's fifth largest exporter of sugar (second in Latin America)
- The main international partners of Guatemala are the Central
American markets, the United States, Mexico, the Caribbean, the South America region, and the European Union (EU).
- Guatemala has several Free Trade Agreements (the United States, Taiwan, Mexico, and Central America)
- One of the objectives of Guatemala is to promote the free establishment of companies in Guatemala.
- Customs barriers have been reduced.
- Guatemala offers an excellent option as a
foreign direct investment
- The legal framework that does not show
favouritism between foreign direct investment and local
investments with freedom to move the capital and to repatriate dividends.
- The Government is committed to instituting transparency and legal certainty, understanding that such are a preference in attracting foreign direct investment (FDI).
- Invest in Guatemala is the Investment Promotion Agency of Guatemala, created in 1997 with support from the Government and the private sector of Guatemala.
Guatemala's Free Trade Agreements (FTA) and Market Access
- Central American Integration System (SICA)
- Central American Common Market - Integrated with SICA -
- Guatemala's agreements with Taiwan, Mexico, Colombia, the United States-Dominican Republic (CAFTA-DR), Panama, Chile, and the European Union
- Association of Caribbean States (ACS)
- Mesoamerica Project
Guatemala is a member of:
- Inter-American Development Bank (IDB)
- Organisation of American States (OAS)
- Forum for East Asia-Latin America Cooperation (FEALAC)
- Africa-South America Summit (ASA)
- Economic Commission for Latin America (ECLAC)
- Latin American and Caribbean Economic System (SELA)
- World Bank
- International Monetary Fund (IMF)
- World Trade Organisation (WTO)
- United Nations
The Free Trade Agreement Guatemala-Taiwan: