Belize strengthens efforts to boost sugar exports to Caricom markets
BELMOPAN, Belize, (CMC) — The Belize government says it is strengthening efforts to boost sugar exports to markets in the Caribbean Community (Caricom) and that its Minister of State for Foreign Trade, Dr Osmond Martinez, has held a “pivotal” meeting with stakeholders in the industry.
A statement by the Ministry of Foreign Affairs and Foreign Trade said that the meeting was also attended by officials from the Directorate General for Foreign Trade (DGFT) and the Belize Sugar Industries (BSI) where strategies for enhancing Belize’s sugar exports to the Caricom market were discussed.
“The meeting focused on addressing the challenges and opportunities within the regional sugar trade framework. Key topics included optimising the Common External Tariff (CET) suspension regime, improving compliance with the Revised Treaty of Chaguaramas, and strengthening Belize’s competitive position in the Caricom Single Market and Economy (CSME),” the statement said.
It quoted Dr Martinez as emphasising Belize’s commitment to facilitating increasing sugar exports and ensuring adherence to regional trade rules and that the meeting marks a significant step towards bolstering the sugar industry’s presence in the Caricom market.
“We are determined to work collaboratively with BSI and other stakeholders to capitalise on export opportunities and ensure that Belize remains a key player in the regional sugar trade,” Dr Martinez said.
The DGFT reiterated the importance of active participation in Caricom’s Monitoring Mechanism for Sugar (MMS) and the Technical Working Group (TWG) for using technical standards and specifications in the Common External Tariff Suspension process.
“By enhancing the region’s reporting and compliance mechanisms, Belize aims to foster a transparent and fair trade environment that benefits all Caricom member states,” this statement said, adding that the BSI representatives expressed their commitment to working closely with the government to address any challenges and leverage the opportunities presented by the Caricom market.
“This initiative aligns with Belize’s broader strategy to strengthen its trade relationships within the region, promoting sustainable economic growth and development,” the statement added.
Around 20,000 to 40,000 tonnes of sugar is exported from Belize, Guyana, Jamaica, and Barbados to other Caricom members per year.
