Taipei, Jan. 15 (CNA) Vice President Vincent Siew said Friday that the government will continue to promote investment in Guatemala and that a proposed investment by a major Taiwanese business group could greatly benefit the Central American country. Siew, in a meeting with a delegation led by Guatemala Economics Minister Ruben Morales Monroy, noted that since the two countries signed a free trade agreement (FTA) in 2006, Guatemala exports to Taiwan have increased significantly.
Expressing the hope that the trend will continue so as to help Guatemela's economic growth, Siew said, however, Taiwan investment in the country is still not high.
"But Taiwan will continue to promote this aspect," Siew said. The Formosa Plastics Group is interested in investing in Guatemala, and the if plan goes through, it will be of great benefit to the Central American country, he added.
Morales could discuss with the Ministry of Economic Affairs matters pertaining to future cooperation, Siew said, adding that "the Taiwan government will give its full support to strengthening bilateral ties." Morales, on his part, said that Taiwan's high economic growth is a model for Guatemala. He expressed the hope that the two sides would reach other major agreements, apart from the FTA, one of which would allow for the transfer of technology so that his country could duplicate Taiwan's successful development.
(By Lee Shu-hua and Lilian Wu)
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