Guatemala has joined a free trade agreement(FTA) between South Korea and a group of five Central American nations.

According to the Ministry of Trade, Industry and Energy, deputy minister for FTA negotiations Roh Keon-ki and representatives of the six Central American nations, including Guatemalan foreign minister Mario Bucaro, signed a pact on Guatemala’s inclusion in the FTA.

Guatemala was initially among dialogue partners for the FTA in 2015 and 2016, but stepped away during negotiations amid differences on tariffs and rules concerning country of origin.

South Korea and five Central American nations – Costa Rica, El Salvador, Panama, Honduras and Nicaragua – fully implemented their FTA in March 2021.

In September of last year, they reached a deal to bring Guatemala into the fold following two years of negotiations.

The trade ministry said that the country’s participation has effectively completed the South Korea-Central America FTA.