Unlike the other countries in the region, the Guatemalan economy
operates without a specific law that regulates the free
competition. There is a Project of Law which is under evaluation of
the Guatemalan Congress and could be approved in the coming
days.
The competition law will be very useful for the country and
especially for the Customs Integration with Honduras. The custom
integration between Honduras and Guatemala, which forms a unified
commercial territory that houses almost 50 percent of the Central
American population and about 52 percent of the internal traffic in
the region, has been in force since May 2016. Guatemala and
Honduras have been working in their customs integration since
December 2014 with the technical support of SICA (Integration
Secretariat of Central America) and this great step will speed
freight transport between countries while it will increase the
speed of trade in the region.
