JOINT STATEMENT ON SUPPLY CHAIN DIVERSIFICATION
February 7, 2023
Guatemala Economy Minister Janio Rosales met with U.S. Department of State Deputy Assistant Secretary for Western Hemisphere Affairs Emily Mendrala to discuss how to foster job creation and address the root causes of migration. As part of the “Central America Forward” initiative, the United States government encourages investment, including nearshoring, that stimulates regional economic development through a “Good Governance, Good Jobs” framework.
A central component of the meeting was how to create a business-enabling environment in Guatemala, through renewed efforts to increase transparency, eliminate corruption, uphold the rule of law, support labor rights, and ensure legal certitude for investors.
Senior officials discussed respective efforts to increase the resilience of supply chains, which are an engine of economic growth and critical to bilateral trade between the United States and Guatemala. Resilient supply chains will contribute to a stable economy, which will support the new private sector commitments of $4.2 billion already achieved through the White House’s Call to Action for Northern Central America.
The two sides intend to continue to meet in the coming months to work toward their common purpose of creating security of prosperity for all Guatemalans.