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Belize to hold national consultations on new trade policy

Posted: Saturday, March 11, 2017. 12:53 p.m. CST.

By BBN Staff: Belize is seeking to develop a national trade policy and now the country is preparing to host a series of public consultations with various stakeholders.

The Ministry of Economic Development, Petroleum, Investment, Trade and Commerce said at the core of the consultations, “is the contribution it would have on attaining Belize’s Growth and Sustainable Development strategy objective of a better quality of life for all Belizeans.”

The Ministry also stated that the consultations will provide a forum for engagement in the process of creating a responsive national policy to stimulate trade, enable investments and facilitate Belize’s integration into the regional and multilateral trading system.

In July 2016, the Directorate General for Foreign Trade (DGFT) launched the Trade Policy Framework that provides government’s commitment and policy guidance for formulating Belize’s first comprehensive National Trade Policy aimed at stimulating and expanding trade for the domestic and international markets.

“Given Belize’s peculiar geographical and economic position, the challenges it faces to effectively compete with global standards, and the need to increase productive and trade capacity at the national level, the Government of Belize seeks to strategically align various policy instruments relating to trade,” the Ministry said.

The consultation will ensure inclusiveness and sustainable economic development through the National Trade Policy.

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