Dispelling myths and promoting business opportunities in Guatemala

One of our key aims to strengthen commercial links between the UK and Guatemala takes a step forward today with the release of a report by the Caribbean Council on the UK business opportunities in Guatemala. The report, funded by the FCO Commercial Diplomacy Fund, follows a scoping visit to Guatemala in March by the Council, that formed a part of our successful British Week 2012, and it finds that there is significant potential for UK companies to sell their products and services, and to invest in Guatemala, to the benefit of both countries. Here’s a link to the report (it’s also available in Spanish).

A key challenge for us delivering the FCO’s Prosperity Agenda in Guatemala has been the perception in the UK that doing business with or in Guatemala is “too difficult”, a thought fuelled by negative media reports that tend to focus on gangs, corruption, drug trafficking and high murder rates. While it would be remiss of us to gloss over these headlines, they tend to ignore the true potential of the market here and the fact that UK business is already established here and doing well. The new Guatemalan government is also keenly aware of these perceptions and the need to change them.

It is focusing much of its energy tackling insecurity (crime statistics are down, although still high). To help, we have already supported police reform by funding two senior Guatemalan policemen to attend leadership training in the UK, and we continue to support CICIG. Looking ahead, the UK government will be working with SICA to explore areas for niche UK support as this regional body seeks to impement its regional security strategy launched in Guatemala last June.

Also, the new government is keen to generate new business investment in the country to create more Guatemalan jobs, for example, through its National Agenda for Competitiveness. To help, our British Week in March focussed on developing UK/Guatemala trade links, and since then we have participated in an international trade and cultural festival in Guatemala’s second city, Xelaju.

We have a good foundation from which to build and there is plenty of room for more UK business in the Guatemalan market. The signing on 29 June of the EU-Central America Association Agreement, a free-trade deal, will, we believe, provide a platform for more. As does the Caribbean Council’s report. This highlights opportunities in a range of sectors, such as construction/infrastructure, renewable energy, mining, agribusiness, retail fashion, and security, But don’t take our word for it, read the report.

If you are a UK business interested in the opprotunties here then please send an email to Patricia Lemus (embassy@intelnett.com). We’d like to hear your comments on this blog, and we also invite you to follow our work in Guatemala on Twitter and Facebook.