Guatemalan and Belizean Authorities Predict Trade Increase
Guatemalan and Belizean authorities predicted Monday an increase of trade if they conclude negotiations this month for a Partial-Scope Agreement (PSA), in which each country would include 150 items.

According to Guatemalan Deputy Minister of the Economy Enrique Lacs, trade between the nations entails greater expectations of establishing better relations, overcoming their 100-year political differences.

Lacs, also responsible for Foreign Trade, clarified that both countries´ authorities have reached consensus on 80 items, but the perspective is to increase that number to 150, because the negotiation with Belize has been fruitful and we have signed "valuable agreements."

Guatemala would include in the PSA items such as footwear, textiles, and paper, while its counterpart would contribute agricultural products such as orange and grapefruit, besides a greater opening in tourism.

Belizean Deputy Minister of Foreign Trade Jose Alpuche said those products would be the maximum amount they would include in the negotiation, but he did not rule out expansion of the relationship in the future.

The PSA texts have already been drafted, although "some details are pending," such as specifying what kind of products will be under tax preferences and defining by which percentage, but both sides expect to conclude the negotiations this month.

Guatemalan Industry Chamber (CIG) President Ricardo Sagastume said they expect increased potential for exports to Belize of iron and steel products, plastics and chemicals, as well as fertilizers.