Economy
The EU ratifies the association agreement with the countries of Central America
Guatemala is part of the agreement with the European Union, whose objective is to strengthen commercial and political ties.
The agreement between the EU and Central America eliminates import tariffs, among other measures. (Free Press Photo: Unsplash)
The European Union ratified this Friday the association agreement with the countries of Central Americawhose objective is strengthen ties commercial y politicians between both parties.
In terms commercialthe agreement eliminates most tariffs to the importcreates a mechanism Dispute resolution and a mediation mechanism In case there are disputes regarding non-tariff barriersas reported by the Council of the EU in a statement.
The commercial pillar, however, it has already started to be applied provisionally since 2013. Specifically, between the EU, Nicaragua, Panama and Honduras since August 1 of that year; with Costa Rica and El Salvador, from October 1; and with Guatemalasince the month of December 2013.
The agreement also aims to promote the investment plan in the digital field, climate, energy, transportation education and of healthwhich the EU has approved to compete with the new Chinese Silk Road.
The EU, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama They signed the agreement in 2012 in Tegucigalpa and its entry into force will allow the application complete of the covenant.
The Council has greenlighted the EU-Central America association agreement.
The agreement is based on three fundamental elements:
📌 political dialogue
📌 cooperation
📌 tradeMore information ⬇️
— EU Council (@EUCouncil) April 12, 2024
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