Taiwan and Guatemala signed their Free Trade Agreement during the recent visit of Taiwanese President Chen Shui-bian that will take effect from January 1, 2005.
At a ceremony on Guatemala City, President Chen Shui-bian signed the agreement with Guatemalan President Oscar Berger Predomo.
Guatemala's trade deficit with Taiwan will reduce through this agreement as Guatemala imported Taiwanese products to the tune of US $170 million, while it exported $4 million worth of products to Taiwan.
President Berger said, "We hope to export more products to Taiwan and import Taiwan's textile fabrics, bicycles and other products to Guatemala."
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