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WTO Secretariat Report: economic expansion needs to be sustained
05 Feb '09
2 min read
Since its last review in 2002, Guatemala has continued to place trade liberalization at the core of its development strategy, taking measures such as the streamlining of customs procedures, lowering tariffs, and adopting new government procurement and intellectual property rights legislation; these measures have helped expand trade and investment, according to a WTO Secretariat report on the trade policies and practices of Guatemala.
The WTO report, along with a policy statement by the Government, will be the basis for the Trade Policy Review (TPR) by the Trade Policy Review Body of the WTO.
The report states that economic expansion needs to be sustained and increased in order to achieve improvements in living standards, which in turn requires keeping up the ongoing efforts designed to strengthen competition and the regulatory framework in sectors such as telecommunications, financial services and maritime transport.
The WTO report also notes that Guatemala offers fiscal concessions which include export subsidies, and observes that it would be useful to define a concrete strategy to minimize the transition costs to a subsidy-free regime.
The WTO report, along with a policy statement by the Government of Guatemala, will be the basis for the second TPR of Guatemala by the Trade Policy Review Body of the WTO on 4 and 6 February 2009.
The WTO report, along with a policy statement by the Government, will be the basis for the Trade Policy Review (TPR) by the Trade Policy Review Body of the WTO.
The report states that economic expansion needs to be sustained and increased in order to achieve improvements in living standards, which in turn requires keeping up the ongoing efforts designed to strengthen competition and the regulatory framework in sectors such as telecommunications, financial services and maritime transport.
The WTO report also notes that Guatemala offers fiscal concessions which include export subsidies, and observes that it would be useful to define a concrete strategy to minimize the transition costs to a subsidy-free regime.
The WTO report, along with a policy statement by the Government of Guatemala, will be the basis for the second TPR of Guatemala by the Trade Policy Review Body of the WTO on 4 and 6 February 2009.
World Trade Organization
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