On 25 November 2014, Guatemala signed on to the European Free Trade Association-Central America Free Trade Agreement (FTA). Guatemala is the third Central American country to sign the agreement. The agreement is already in force in respect of Costa Rica, Panama and the EFTA countries.
As a broad-based agreement, the FTA covers trade in goods, trade in services, investment, competition, the protection of intellectual property rights, government procurement, trade and sustainable development, and cooperation.
In the area of trade in goods, EFTA abolishes all customs duties on industrial products as of the entry into force of the Agreement, whereas the Central American States will do so after a transitional period.
Other Central American States including Belize, Dominican Republic, El Salvador, Honduras and Nicaragua, are expected to accede to the agreement in the future.
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