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A positive boost may be felt in the Guatemalan economy in the years to come thanks to Russia. Through many discussions and now a visit by the Foriegn Affairs Minister, Russia looks to invest fairly heavily in the sugar industry. Right now trade between Russia and Guatemala is good but very light. These new ties look to strengthen and increase the financial benefit for Guatemala. The Prensa Latina reported on Septemeber 25th:
Russia, Guatemala to Build-up Commerce
Guatemala, Sep 25 (Prensa Latina) Russia and Guatemala expressed the decision to strengthen bilateral relations, especially in the fields of trade and investments Monday, during the visit to Guatemala by Russian Assistant Foreign Affairs Minister Serguei Kislayak.
“We have scheduled signing a promotion and protection agreement, with the possibility that Russian entrepreneurs will come here to invest,” Kislayak said.
He stated that commercial exchange is quite low, 40 million dollars a year, and the Russian government considers it could be much greater than that.
Guatemalan Assistant Foreign Affairs Minister Luis Fernando Andrade said the strengthening of relations could begin now, and the Guatemalan government is particularly interested in strengthening its sugar industry.
The key here is to see once the increase in trade begins, how this effects the economy. Unfortunately, it will take quite a bit of change at the top for this type of economic boost to have any effect on the poor in Guatemala. However, most are taking a wait and see attitude with these developments.
Trade and cooperation in fields such as science and mining were also discussed, informed Guatemalan Assistant Foreign Affairs Minister Martha Altoaguirre.
Security and the struggle against drug-trafficking and political aspects were other topics discussed.
On his first day in Guatemala, Kislayak was received at the Guatemalan Congress where he met Congress President Jorge Mendez Herburger.
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In any case it is good to see positive things happening for this country which has dealt with so much negative in its recent history. Hopefully we are at a point where a corner can be turned for the better!
