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LatinNews Daily - 24 April 2025
In brief: Peru and Guatemala advance with FTA
*The governments of Peru and Guatemala have signed a protocol agreement that will enable a free trade agreement (FTA) signed in 2011 to come into force. At the signing ceremony in Lima, Peru’s minister of foreign trade and tourism, Desilú León, said that the FTA will boost Peruvian exports including metals, plastics, glass, and steel, as well as boosting the legal and institutional framework for bilateral trade and investment. The protocol agreement includes modifications to phytosanitary rules and on rules regarding country of origin, intellectual property, and public contracts. According to Peru’s foreign trade and tourism ministry, bilateral trade with Guatemala totalled US$250m in 2024, with agricultural products accounting for 44.3% of Peruvian exports. Guatemala’s main export to Peru was sugar, accounting for 60.0% of exports.
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