Business in Guatemala

The objectives of the subject “International Trade and Business in Guatemala” are the following:

1. To analyze the Guatemalan Economy and Global Trade
2. To know the business opportunities in Guatemala
3. To explore the Guatemalan trade relations with the country of the student
4. To know the Guatemalan Trade Agreements
5. To develop a business plan for the Guatemalan Market

The Subject “Foreign Trade and Business in Guatemala” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Languages: or Guatemala Guatemala Guatemala.

1. Credits of the subject “Doing Business in Guatemala”: 2
2. Duration: two weeks

Guatemalan Trade Agreements and Market Access.

1. Guatemala and the Latin American Economic Area
2. Central American Integration System
   1. Central American Common Market - Integrated with the SICA -
3. Association of Caribbean States
4. Latin American and Caribbean Economic System
5. Mesoamerica Project
6. Guatemalan trade agreements with the EFTA, Mexico, Colombia, Panama, Chile, and the EU
7. Dominican Republic-Central America-U.S. FTA
8. Dominican Republic-Central America
9. Guatemala-Taiwan FTA
10. UK-Central America Free Trade and Economic Integration Agreement
11. Panama-Guatemala FTA
12. Mexico-Central America
13. ALADI (observer)

1. WTO
   1. GATS
   2. Agreement on Sanitary Measures
   3. Agreement on Technical Barriers to Trade
   4. Agreement on Preshipment Inspection
   5. Agreement on Safeguards
   6. Trade Facilitation Agreement
2. WCO
   1. Kyoto Convention

1. Inter-American Development Bank
2. OAS
3. ECLAC
4. East Asia-Latin America Cooperation
5. CELAC

1. UN
2. WB
3. WTO
4. IMF

The Republic of Guatemala.

1. Guatemalan Capital: Guatemala City
2. Guatemalan population is 16 million people, 85% of Guatemalans are less than forty-five years
3. Borders of Guatemala: Mexico, Belize, Honduras, and El Salvador
4. Area of Guatemala is 108,889 km²
5. Main language of Guatemala is Spanish
6. Guatemala gained the independence from Spain in 1821
7. Abolition of Slavery in Guatemala: 1824

Main religion in Guatemala: Christianity.

1. Catholicism (8 million)
2. Protestants (5 million)

Guatemala belongs to the Western Civilization - Latin American Economic Area.

Guatemalan Economy.

1. Guatemala has an excellent strategic position and has substantial preferential market access
2. Macroeconomics 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
3. With a GDP of 38,139 million dollars, representing 33% of the total GDP of Central America
4. Such economic growth continues based on a Government policy to promote the development; an approach that has fostered the simultaneous endeavors of the public and private sectors, facilitating the economic boom and access to the key global markets
5. Guatemala serves as the axis of Mesoamerica, a region with high potential due to fifty urban centers conforming the region, twenty-five of which are situated in Central America with a population of 68 million people and an economy of 154 billion dollars
6. Guatemala is experiencing an strong growth in outsourcing industry and is fully exploiting its new position as a destination for call centers and business process outsourcing (BPO)
7. Guatemalan currency: Quetzal

International Trade of Guatemala.

Guatemala is becoming one of the main emerging markets within the region:

1. Guatemala has a strategic geographical location; Guatemala is an ideal hub for largest regional and international markets
2. Guatemala has advantaged market access to both the Atlantic and Pacific Oceans, facilitating international trade with Asia, North America, and Europe, through the modern seaports
3. Total exports (FOB) of the Republic of Guatemala: 808 million dollars
4. Total value of the Guatemalan imports: 934 million dollars
5. The Tax Authority is the responsible body for managing the customs system of Guatemala
6. in Guatemala, there are over thirteen operational zones, as well as industrial parks located in strategic areas in Guatemala
7. Guatemala is the world's fifth largest sugar exporter (the second in Latin America)
8. The main international partners of Guatemala are the Central American Countries, the U.S., Mexico, the Caribbean, the South American region, and the EU
9. Guatemala has several Free Trade Agreements (United States, Taiwan, Mexico, Central America) in force
10. One of the objectives of Guatemala is to promote the free establishment of companies in Guatemala
11. Technical Barriers to Trade have been reduced
12. Guatemala offers an excellent option as a Foreign direct investment (FDI) destination
13. The legal framework does not show favoritism between foreign investment and local investments with freedom to move capitals and repatriate dividends
14. The Government is committed to instituting transparency and legal certainty, understanding that such are a preference in attracting the foreign direct investment
15. Invest in Guatemala is the Investment Promotion Agency of Guatemala, created in 1997 with support from the Government and private sector of Guatemala

(c) EENI Global Business School (1995-2023)
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