Belize’s trade policy is guided by the multilateral principles of the World Trade Organization (WTO). It became a contracting party in 1985 and a full member of the WTO when it was formed in 1994. Belize’s trade policy is highly influenced by its participation in the trade bloc, the Caribbean Community (CARICOM) and it also subscribes to the CARICOM Single Market and Economy.
The information and its attachments provide a general overview of both the multilateral, regional and bilateral agreements Belize is a party to.
World Trade Organization
Belize became a General Agreement on Tariffs and Trade (GATT) contracting party in 1983 and is an original Member of the World Trade Organization (WTO). The WTO was formed in 1994 by the Marrakesh Agreement that was negotiated in Marrakesh, Morocco (View Agreement). The WTO is a multilateral organization that replaced the GATT. More importantly, its agreements that Member States signed on to governs world trade among its members. The WTO Agreements can be found at, http://www.wto.org. Read more.
Belize’s trade policy is highly influenced by its participation in the Caribbean Community and Common Market (CARICOM) in which a common external policy is sought. The Directorate for Foreign Trade is mandated to formulate Belize’s national and external trade policy and to negotiate trade and investment agreements on behalf of Belize. The Revised Treaty of Chaguaramas establishing the Caribbean Community and the Caribbean Single Market and Economy (http://www.sice.oas.org/trade/caricom/caricind.asp) signed in 2001, governs trade relations in CARICOM. Read more.
Belize-Guatemala Partial Scope Agreement
The Belize-Guatemala Partial Scope Agreement (PSA) is the first trade agreement that Belize has signed with another country bi-laterally. (View Agreement) Negotiations were launched on 22 November 2004. Belize had signed the Agreement on 26 June 2006; and the Congress of the Federal Government of Guatemala had approved the PSA in October 2009. The Guatemalan President has recently issued a decree to give effect to the agreement on April 4th 2010. Read more.
Bi-lateral Investment Treaties
Belize’s investment policy focuses on promoting and protecting investments in Belize. To achieve that objective, Belize has signed a number of Bi-lateral InvestmentTreaties (BIT) with other countries. Read more.