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Belize strengthens push to expand sugar exports to CARICOM

belize sugar cane
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Posted: Tuesday, January 21, 2025. 7:11 am CST.

By Horace Palacio: Belize is ramping up efforts to expand its sugar exports to the CARICOM market as part of a strategic push to enhance regional trade relations and economic growth. The Minister of State for Foreign Trade, Dr. Osmond Martinez, led discussions with representatives from Belize Sugar Industries (BSI) to outline plans for overcoming challenges and seizing opportunities in the regional sugar trade.

The meeting, facilitated by the Directorate General for Foreign Trade (DGFT), focused on optimizing Belize’s use of the Common External Tariff (CET) suspension regime, ensuring compliance with the Revised Treaty of Chaguaramas, and bolstering Belize’s competitiveness within the CARICOM Single Market and Economy (CSME).

“We are determined to work collaboratively with BSI and other stakeholders to capitalize on export opportunities and ensure that Belize remains a key player in the regional sugar trade,” said Dr. Martinez. He emphasized the government’s commitment to enhancing the industry’s export potential while adhering to regional trade rules.

Belize also reaffirmed its active participation in CARICOM’s Monitoring Mechanism for Sugar (MMS) and the Technical Working Group (TWG) to improve compliance with technical standards in the CET suspension process. These mechanisms are designed to create a fair and transparent trade environment that benefits all member states.

BSI representatives welcomed the government’s proactive approach, expressing readiness to address challenges and maximize the opportunities available in the CARICOM market.

This initiative forms part of Belize’s broader strategy to strengthen trade relationships within the Caribbean region, advancing sustainable economic growth and development for the nation.

 

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