British Ambassador meets new Guatemalan Minister of Economy & More News Here

British Ambassador to Guatemala, Nick Whittingham, met with Janio Rosales, Minister of Economy, to debate the nation’s plans beneath the technique “Guatemala doesn’t stop” which goals to enhance the enterprise atmosphere, and entice extra investments, particularly within the infrastructure sector.

Ambassador Whittingham defined that the UK needs to foster sincere, dependable funding, by commerce and mechanisms just like the assist of UK Export Finance (UKEF) within the area, constructing on the UK’s monetary experience and the strengths of the City of London and delivering the Prime Minister’s imaginative and prescient for the Clean Green Initiative – supporting international locations to develop their economies sustainably.

Ambassador Whittingham and Minister Rosales addressed the implementation of the Association Agreement between Central America and the United Kingdom, which has been carried out with out issues because it got here into drive. In 2022, the settlement will host particular committees to proceed constructing on its advantages, so as to enhance commerce flows between Guatemala and the United Kingdom.

The Ambassador additionally burdened the significance of working along with Guatemala in multilateral boards, such because the World Trade Organization, so as to agree on a constructive and forward-looking agenda that promotes inclusive and sustainable free and truthful commerce. He urged Guatemala to affix the worldwide neighborhood in urgent Russia economically to finish the battle in Ukraine, which is producing elevated prices for meals and fuels all over the world.

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The Vice Minister of Integration and Foreign Trade, María Luisa Flores; the Vice Minister of Investment and Competition, Francisca Cárdenas; and the Vice Minister of Registry Affairs, Juan Carlos Pellecer, additionally participated within the assembly.

In 2021, bilateral commerce between Guatemala and the UK was US$225 million; Guatemalan exports to the UK market have been US$140 million, whereas British exports to the Guatemalan market have been US$84 million. The most important Guatemalan merchandise exported have been greens, fruits, espresso, drinks and sugar, whereas the primary British merchandise have been vehicles, drinks, chemical substances, and specialised equipment.

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