On Monday, the Ministry of Economy from Guatemala said that Central America and South Korea agreed to end negotiations for a free trade agreement (FTA) on November 16th in Nicaragua, during the meeting of Ministers and Secretaries in charge of foreign trade of each country.
The Guatemalan Vice Minister of Integration and Foreign Trade, Enrique Lacs, explained that the decision was taken during a meeting in South Korea, where negotiators concluded the chapters of the treaty.
The only pending issues are some technical aspects of the access and origin list that will be defined in the ministerial meeting on November 16th in Managua, Nicaragua, before the official end of the negotiations,”
Following the conclusion of the negotiations, the document would be subjected to a legal review and translation before the presidential signature to be voted at the congresses of the signatory countries.
The FTA between Central America and South Korea was opened in June 2015, and the first round of negotiations was held from September 21st to 25th this year in Seoul.
In 2014, Central America exported $342 million to South Korea, and imported $ 1,396 million.