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EAEU and Guatemala agreed to intensify cooperation

EAEU and Guatemala agreed to intensify cooperation


Developing cooperation between the Eurasian Economic Union and the Central American region, in particular with the Republic of Guatemala, was discussed during the meeting between Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, and Pedro Brolo Vila, Minister of Foreign Affairs of the Republic of Guatemala. The meeting took place on June 23 at the EEC’s headquarters in Moscow.

During the meeting, the parties have discussed the current level of cooperation between the regions, identified spheres and areas of cooperation in which there is a potential and mutual interest in intensifying the interaction, as well as national measures the Republic of Guatemala takes to create favorable conditions for investment and implementation of joint ventures.

“Assessing the trade statistics between the EAEU Member States and the Central American countries, it may be noted that the cooperation potential is much greater than the current level of interaction,” mentioned Sergei Glazyev. Meanwhile, according to the EEC Minister, the most important barrier limiting the development of cooperation is the lack of information. Sergei Glazyev also stressed that investment cooperation should be directly related to trade flows and the creation of joint ventures.

Pedro Brolo Vila, Minister of Foreign Affairs of the Republic of Guatemala, has thanked the Eurasian Economic Commission for the meeting and stated that the Republic of Guatemala, chairing the Central American Integration System in 2021, will actively promote developing cooperation with the Eurasian region.

“The Republic of Guatemala is interested in finding new markets and partners. At the same time, we have to improve transport accessibility and logistics for developing trade and economic cooperation,” Pedro Brolo Vila said.


Following the meeting, the parties agreed to maintain regular working contacts.


For reference:

Republic of Guatemala is a member of: 

§  Central American Integration System (SICA, countries – Belize, Guatemala, Honduras, Dominican Republic, Costa Rica, Nicaragua, Panama, El Salvador). Since July 2021, Guatemala will become the SICA’s chair country;

§  Subsystem of Economic Integration in Central America (Guatemala, Honduras, Costa Rica, Nicaragua, Panama, and El Salvador);

§  Secretariat for Economic Integration in Central America (SIECA, a regulatory body of the Subsystem of Economic Integration in Central America). In February 2021, the EEC and SIECA signed a Memorandum of Understanding.