The president of Guatemala, Bernardo Arévalo, highlights the great potential of Spain as a strategic partner for the Central American country

El President of Guatemala, Bernardo Arévalo, has highlighted the great potential of Spain as a strategic partner for the Central American country, as well as the possibilities of collaboration and business opportunities in key sectors, during the Spain-Guatemala Business Meeting, celebrated on February 23 in CEOE headquarters, in Madrid.

 

The president of CEOE, Antonio Garamendi, of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF), Ignacio Lejárraga, the vice president of the Spanish Chamber of Commerce, Ángel Asensio, the Minister of Economy of Guatemala, Gabriela García, and the Secretary of State for Commerce, Xiana Méndez.

 

The meeting served to learn first-hand about the current situation in the country and present to the Spanish companies projects of interest in sectors such as pharmaceuticals, food, electronic devices, textiles, chemicals, infrastructure and agri-food, among others.

 

The event was attended by more than 150 business representatives as well as representatives from the main multilateral organizations in the region, such as the Inter-American Development Bank (IDB), the Development Bank of Latin America (CAF), the Central American Bank for Economic Integration (CABEI) or Banco Lafise, as well as institutions such as the Ibero-American General Secretariat (SEGIB), the International Youth Organization for Ibero-America (OIJ) and Ibero-American Federation of Young Entrepreneurs (FIJE), among others.

 

Guatemala, priority market for Spain

 

“The belonging of Guatemala to the Central American Integration System (SICA), the fact that it is a country bordering Mexico, your corridor towards North America and his active participation in the Ibero-American Summits "make this country a priority for Spanish companies with interests in the region, taking into account that it offers proximity and preferential access to key markets globally," highlighted, for his part, the president of CEOE, Antonio Garamendi.

 

Furthermore, he highlighted that Guatemala's leadership in the Central American economic integration process is a reality and has materialized in the establishment of a customs union between Guatemala and Honduras, which is in the process of joining The Savior.

 

From the Spanish business sector we firmly believe in the great potential that Guatemala has for our companies, supported by a wide range of incentives that facilitate access to this market, he stressed.

 

And he added that, to reinforce investment in the country, it is crucial that businesses can be based on legal security, regulatory stability, the quality of the law and the sense of State. “We must follow the path of collaboration and alliances, not only to strengthen the development of our two countries but also that of Ibero-America”, concluded Antonio Garamendi.

 

"Guatemala's membership in the Central American Integration System (SICA), the fact that it is a country bordering Mexico, its corridor to North America and its active participation in the Ibero-American Summits make this country a priority for Spanish companies" Antonio Garamendi highlighted

 

His counterpart in CACIF, Ignacio Lejárraga, assured that today Guatemala is in a great moment. The macroeconomic stability and quality The country is aligned with a president with the ability to dialogue with different sectors of society, who has formed a balanced and capable team of ministers and who, at the same time, has the support of the international community. “The president knows that he has our vote of confidence and that he will have our full support to make free enterprise and unrestricted respect for the law and constitutional order the pillars of the country's development,” he said.

 

Potential in the region

 

In turn, the vice president of the Chamber of Spain, Ángel AsensioHe recalled that Bilateral trade in goods between Spain and Guatemala has tripled in the last 10 years, reaching 630 million euros by 2023. “The potential of Guatemala, as a market and business platform for the entire region, is very great. And so is the interest of our business community,” he stated.

 

He also highlighted the dynamism of the Guatemalan economy and, especially, of the private sector. “Guatemala is a first-rate trade and investment partner for Spain in the region,” he said and emphasized the will of “the Spanish chambers as a committed partner to continue moving forward together,” within the framework of shared values ​​and interests and of the “ commercial and partnership commitment (global gateway) that the EU is deploying in Central America and in which Spain plays a very relevant role.”

 

Guatemala and Spain, strategic partners

 

Under the motto “Spain and Guatemala, strategic partners”, the Minister of Economy of Guatemala, Gabriela García, and the Secretary of State for Commerce, Xiana Méndez, analyzed the competitive advantages and attractiveness of both markets, complementary economies that must take advantage of the potential for collaboration between both countries, as well as in third markets.

 

Minister Gabriela García recalled that the country's economy grew by 8% in 2021, 4,1% in 2022 and 3,5% in 2023. The Government seeks to generate confidence among Spanish investors to continue investing, she stressed, and the Association Agreement between Central America and the European Union It will contribute greatly to this, providing legal certainty to bilateral trade and investment relations.

 

For the minister, Guatemala's exportable supply complements the demand of Spanish producers in sectors such as the agri-food industry, fresh products, textiles or the pharmaceutical sector. In the latter case, the Central American country is the gateway to a market worth 6.500 billion dollars.

 

For her part, Secretary of Stateiana Méndez highlighted that this type of business meetings help strengthen bilateral relations between both countries. "These close and positive relations are reflected in the important presence of Spanish companies in Guatemala, where Spain continues to be the main European investor, with an investment of more than 1.500 million euros, to which we must add the investments made by the numerous Spaniards who have come to Guatemala over the years to integrate into the country,” he noted.

 

Also, Xiana Méndez highlighted the role of Spanish companies in the region and the commitment to an inclusive and sustainable internationalization model, which leaves no one behind. We are fully aware, she stressed, that the challenges posed by globalization can only be addressed through collaboration and integration between nations.

 

Public-private alliances, key to development

 

“Guatemala has a historical debt with the majority of its population,” declared the President of Guatemala, Bernardo Arévalo, to close the Meeting. The objective is to begin to address, in a systematic and effective manner, the development deficits that exist in the country to catch up with this debt.

 

“The only way to do it is by increasing productivity and creating employment,” said Arévalo, who also spoke of promoting agricultural production, so that producers get hooked on the Value chains. “It is essential that there be a Government that invests in basic needs, schools, hospitals and transportation infrastructure, among other areas, to be able to help the population,” he insisted.

 

To undertake all these reforms, Arévalo pointed out, partners are needed to move the country forward. “I encourage you to believe in Guatemala and in a Government that wants the institutions to begin to function,” he said.