Home / Knowledge / News / Textiles / EU-Guatemala trade deal becomes operational
EU-Guatemala trade deal becomes operational
Dec '13
The trade barriers between the European Union and Guatemala, have been lifted with effect from December 1, 2013, which effectively means that the whole region of Central America can now benefit from the EU–Central America Association Agreement, signed in June 2012.
The Association Agreement relies on three complementary and equally important pillars, namely political dialogue, cooperation, and trade—which reinforce each other and their effects.
The trade pillar of the Association Agreement has been provisionally applied since August 1, 2013 with Honduras, Nicaragua and Panama, since October 1, 2013 with Costa Rica and El Salvador, and now with Guatemala since December 1.
The most important provision of trade pillar part of the Agreement is elimination of most important tariffs, and EU exporters are expected to save €87 million annually in lower customs duties.
The ambitious trade partnership has opened up new markets and simplified rules, which is expected to boost trade and investments, including in the textiels and clothing sector, between the European Union and the Central American region.
“This trade agreement will bring our regions closer together by giving our companies privileged access to each other’s markets”, said EU Trade Commissioner Karel De Gucht, in a press release.
As a result of the agreement, the Central American economy is expected to grow by over €2.5 billion per year.
The agreement also aims at fostering regional economic integration among the six Central American countries.
Historically, the bulk of most Central America countries trade is with the US and Latin America, and it is only recently that the region has actively sought to increase its trade with Europe and Asia.
Between 2008 and 2012, the trade flow in goods between the EU and Central America has increased at an average of 15 percent per year to €14.9 billion. 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search