Bilateral Trade Relations and Advantages

Overview of Free Trade Agreements

In Force

  • Republic of China (Taiwan)
  • The United States and Central America and Dominican FTA (CAFTA-DR) Venezuela (AAP)
  • Economic Integration of 5 Central American Countries
  • 5 Central American Countries and the Dominican Republic
  • The Northern Tri-countries of Central America and Colombia
  • 5 Central American Countries and Panama
  • 5 Central American Countries and Chile
  • AAP: Belize, Cuba, Ecuador
  • Central America and Mexico FTA (Guatemala took effect on September 1, 2013)
  • EU Trade Partnership Agreement (Guatemala took effect on December 1, 2013)

Signed, Not Yet Effective

  • Peru (under review by its congress)
  • 4 Central American countries and EFTA (Liechtenstein, Iceland, Norway and Switzerland)
  • Free Trade Agreement (except for Honduras and Guatemala, all other signatories have entered into force)
  • Trinidad and Tobago (AAP)

Negotiating

  • Canada
  • 6 Central American countries and South Korea (suspended temporarily in 2017)

Taiwan-Guatemala Bilateral Trade Relations

Taiwan-Guatemala Free Trade Agreement
  1. Guatemala is the largest economy in Central America and leading in Central America. The FTA between Taiwan and Guatemala is significant and can also strengthen the relations between Taiwan and Guatemala.
  2. Taiwan-Guatemala Free Trade Agreement has been formed since 2003. It became effective on July 1st, 2007.
  3. The Taiwan-Guatemala FTA has the effect of trade expansion, which benefits Taiwanese and Taiwanese companies and can drive investment growth.
  4. The Open Sky Agreement and Ocean Shipping Agreement of the Taiwan-Guatemala FTA provide Taiwan’s sea and air transport operators with operational flexibility and space, and enhance their global layout and service competitiveness. In addition, these two agreements lay a good foundation for cooperation to promote economic and trade exchanges and cultural tourism exchanges between the two countries.
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Export Amount

2017 ↑6.44%
US$118.54 million
2018 ↑9.11%
US$129.33 million
2019 ↑8.23%
US$139.97 million
2020 ↓18.6%
US$112.42 million

Import Amount

2017 ↑50.40%
US$111.52 million
2018 ↓49.69 %
US$56.1 million
2019 ↑22.37%
US$68.57 million
2020 ↑15.21%
US$79.16 million

Total Trade

2017 ↑24.01%
US$230.06 million
2018 ↓19.40%
US$185.43 million
2019 ↑12.5%
US$208.54 million
2020 ↓8.19%
US$191.58 million

Main Export Items from Taiwan

Mixed alkyl benzene, mixed alkyl naphthalene, gasoline, steel, clothing, accessories, air pumps, etc. (2020)

Main Import Items from Taiwan

Sucrose, coffee, frozen shrimps, T-shirts, iron wasting, tobacco, etc. (2020)

Invest from Taiwan

US$22.87 million (Total investment amount)

According to the data of the Investment Review Committee of the Ministry of Economic Affairs, from 1952 to December 2019, the number of Taiwanese businessmen invested in Guarana was 8 and the total investment amount was US$22.87 million.

Invest to Taiwan

US$90,000 (Total investment amount)

According to the data of the Investment Review Committee of the Ministry of Economic Affairs, as of December 2019, the number of Guatemala businessmen’s investment in Taiwan was 9 and the total investment amount was US$90,000.

Taiwan Invests Guatemala in:

Manufacturing

Instant noodle factory, jelly factory, zipper factory

Business

Department stores, handicraft materials, computers and components, auto components, LED lights and others

Service industry

Hotels, restaurants, vehicle maintenance plant

Other

Agriculture, construction (road engineering and community housing)

Taiwan's Top 10 Import / Export Products with Guatemala

Source