EU-Central America set for Brussels meeting to decide future of trade talks

April 17, 2009

Negotiations between the European Union (EU) and Central America will take a decisive turn next week when all of the participants will meet in Brussels to determine, among other issues, the number of countries still in the game.

The last round of negotiations, which took place in Honduras between March 30 and April 3, was stopped after the Nicaraguan delegation presented a cooperation fund proposal without the consensus of the other four Central American countries: Costa Rica, El Salvador, Honduras and Guatemala. After the other nations objected, the Nica team decided to leave the negotiations, halting the process altogether.

Nicaraguan government representatives met with Finance Minister Guillermo Zúñiga and Central Bank President Francisco de Paula Gutiérrez prior to the last round of negotiations, where they presented a proposal for the creation of a €20 billion (about $26 billion) fund. Nicaragua elevated the amount to €60 billion ($79 billion).

“This proposal needed to be studied in detail by the Central American Monetary Council (CECMCA) and Financial Ministers and Secretaries Council (COSEFIN) before it was presented (on April 1),” Zúñiga told reporters during a press conference at the Finance Ministry last week. “(The $79 billion) amount is too high. This would bring contingent debt to the (Central American) countries.”

Zúñiga, who insisted he has reservations on the viability of the fund, will meet today (April 17) with his isthmian counterparts in Guatemala where the next COSEFIN meeting is taking place. On Thursday morning, Zuñiga confirmed during a press conference that the cooperation fund will be among the items discussed at this summit.

The next round will take place April 23 and 24.

Facebook Comments

You may be interested

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)
Pic of the Day
66 views
Pic of the Day
66 views

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)

Alejandro Zúñiga - April 18, 2019

Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…

Costa Rica holds Maduro regime responsible for diplomat’s safety
Costa Rica
11 views
Costa Rica
11 views

Costa Rica holds Maduro regime responsible for diplomat’s safety

AFP and The Tico Times - April 18, 2019

The Costa Rican Foreign Ministry said on Wednesday that it places responsibility with the Venezuelan government of Nicolás Maduro for…

Venezuela withdraws diplomatic credential from Costa Rican diplomat
Latin America
25 views
Latin America
25 views

Venezuela withdraws diplomatic credential from Costa Rican diplomat

AFP and The Tico Times - April 17, 2019

Venezuela withdrew the diplomatic credential from the Costa Rican chargé d'affaires on Tuesday in retaliation for the country’s acceptance of…

Do NOT follow this link or you will be banned from the site!