Guatemalan Congress ratifies free trade agreement signed with Israel in 2022  

Arias Law - On November 29, 2023, the Congress of the Republic of Guatemala ratified the Free Trade Agreement between the Republic of Guatemala and the State of Israel.

This treaty establishes commitments of gradual reduction of tariffs for goods imported mutually, it is also contemplated that none of the countries will adopt or maintain prohibitions or restrictions on the importation of their goods.

Innovatively, a Joint Committee composed of representatives of both States is established to explore the most appropriate ways to prevent or resolve any difficulties or disputes that may arise concerning the matters covered by the Treaty, including its interpretation, implementation, or any other matter.

Finally, through the treaty, Guatemala and Israel have agreed to promote economic, commercial, and technical cooperation, to obtain mutual benefits in terms of trade.

Additional information by Latin Counsel:

The agreement, which includes food and agricultural goods from both countries, was originally signed on September 8, 2022, as informed by the Israeli Economy Ministry.

On their official website, the Guatemalan government described the treaty as "historic" and explained that negotiations had begun in 2018 after President Alejandro Giammattei’s visit to Israel and the relocation of the Guatemalan embassy in Jerusalem. Additionally, Guatemala and Israel had signed an investment agreement in 2009, the government said.

The state-run AGN news agency reported: "With this step, diplomatic relations between both nations, which have been quite solid, will be strengthened. It will also facilitate customs procedures to facilitate trade between Guatemala and Israel".