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.
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