BELMOPAN, Belize, CMC—The Belize authorities says it’s strengthening efforts to spice up sugar exports to markets within the Caribbean Group (CARICOM) and that the Minister of State for Overseas Commerce, Dr. Osmond Martinez, has held a “pivotal” assembly with business stakeholders.
An announcement by the Ministry of Overseas Affairs and Overseas Commerce mentioned that officers from the Directorate Normal for Overseas Commerce (DGFT) and the Belize Sugar Industries (BSI) additionally attended the assembly, the place methods for enhancing Belize’s sugar exports to the CARICOM market had been mentioned.
“The assembly centered on addressing the challenges and alternatives inside the regional sugar commerce framework. Key subjects included optimizing the Widespread Exterior Tariff (CET) suspension regime, bettering compliance with the Revised Treaty of Chaguaramas, and strengthening Belize’s aggressive place within the CARICOM Single Market and Financial system (CSME),” the assertion mentioned.
It quoted Dr. Martinez as emphasizing Belize’s dedication to facilitating rising sugar exports and making certain adherence to regional commerce guidelines. The assembly marks a major step in direction of bolstering the sugar business’s presence within the CARICOM market. “We’re decided to work collaboratively with BSI and different stakeholders to capitalize on export alternatives and be certain that Belize stays a key participant within the regional sugar commerce,” Dr. Martinez mentioned.
The DGFT reiterated the significance of energetic participation in CARICOM’s Monitoring Mechanism for Sugar (MMS) and the Technical Working Group (TWG) for utilizing technical requirements and specs within the Widespread Exterior Tariff Suspension course of.
“By enhancing the area’s reporting and compliance mechanisms, Belize goals to foster a clear and honest commerce surroundings that advantages all CARICOM member states,” the assertion mentioned. The BSI representatives additionally expressed their dedication to working intently with the federal government to handle any challenges and leverage the alternatives offered by the CARICOM market.
“This initiative aligns with Belize’s broader technique to strengthen its commerce relationships inside the area, selling sustainable financial development and growth,” the assertion added.
Round 20,000 to 40,000 tonnes of sugar are exported yearly from Belize, Guyana, Jamaica, and Barbados to different CARICOM members.
