Israel, Guatemala sign free trade agreement
Trade between Israel and Guatemala reached $40 million in 2021
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Israel and Guatemala signed a free trade deal, which will include industry, food, and agriculture goods, the Israeli Economy Ministry said Thursday.
According to the ministry, the agreement will come into effect after final ratification by the two countries. Trade between Israel and Guatemala reached $40 million in 2021, rising by 11 percent from 2020.
While Guatemala mostly exports food and produce, Israel exports rubber, plastic, chemicals, and machinery which constitutes nearly 77 percent of the trade between the states.
In June, Israel also signed a historic free trade agreement with the United Arab Emirates, marking another important step in the normalization of ties with the Gulf state since the signing of the Abraham Accords in 2020. Talks on similar trade deals are being held with Britain and India.
Earlier on Tuesday, Israel’s Economy Minister Orna Barbivai said Israel would open a trade mission in Morocco next year. In July, Israel also announced the reopening of its economic office in Turkey.