Doing Business in Guatemala

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

1. To analyze the Guatemalan Economy and Global Trade;
2. To know the business opportunities in the Republic of 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 Higher Educational Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Learning materials in or Guatemala Guatemala Guatemala.

1. Credits of the subject “Foreign Trade and Business in Guatemala”: 2 ;
2. Duration: two weeks.

Guatemalan Free Trade Agreements and Market Access.

1. Guatemala and the Latin American Economic Area;
2. Central American Integration System (SICA)
   1. Central American Common Market - Integrated with the SICA -.
3. Association of Caribbean States (ACS);
4. SELA;
5. Mesoamerica Project;
6. Guatemalan trade agreements with the European Free Trade Association, Mexico, Colombia, Panama, Chile, and the EU;
7. Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR);
8. Dominican Republic-Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua) Free Trade Agreement;
9. Guatemala-Taiwan Free Trade Agreement;
10. UK-Central America Free Trade and Economic Integration Agreement;
11. Panama-Guatemala Free Trade Agreement;
12. Mexico-Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua) Free Trade Agreement;
13. Latin American Integration Association (ALADI) (observer).

1. WTO
   1. Agreement on Trade in Services (GATS);
   2. Agreement on the Application of 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. Revised Kyoto Convention.

American Trade and Economic Organizations:

1. Inter-American Development Bank (IDB);
2. OAS;
3. ECLAC;
4. East Asia-Latin America Cooperation;
5. Community of Latin American and Caribbean States (CELAC)
   1. EU-CELAC Summit.

Global Organizations:

1. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
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 square kilometers;
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 gross domestic product 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 the Republic of 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 United States, 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 (TBT) 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)
We do not use cookies
Top of this page