Healy Consultants: Belize completes third trade policy review

By: Healy Consultants
 
SINGAPORE - April 28, 2017 - PRLog -- Belize has recently completed its third trade policy review by the World Trade Organization, with the focus being on trade performance with the US. Trade totalled 323 million dollars in 2016. Belize has the third highest per capita income in Central America.

Dylan Vernon - Belize's Resident Ambassador in Brussels made a presentation on Belize to the World Trade Organization. He said, "Overall the experience has been an excellent one for Belize in terms of allowing us to take stock of our trade policy over the past period and also plan for the next period. We feel that we have done well in terms of our limitations as a smaller economy in terms of having now a national trade policy framework underway and very good plans for having us improve how we abide by our WTO obligations; so we feel confident going forward and have benefited greatly from this experience." (source – LoveFM (http://lovefm.com/2017/04/26/belize-gets-third-trade-policy-review-under-wto/))

Trade is extremely important to Belize's economy, with the value of exports and imports contributing to 126% of the country's GDP. Despite being one of the smallest markets in Central America, Belize is an open economy attracting more FDIs annually.

As required by the World Trade Organization, trade policy reviews are mandatory for all member countries. Trade and related policies were examined and evaluated while significant developments that could have an impact on the global trading system are monitored.

This provided an opportunity for the country to prove its acceptance and commitment to the rules of trade that this agreement enforces, and Belize has proven to be right on track.

About Belize economy

Over the past two decades, Belize has undergone immense growth making dynamic economic strides. This can be attributed to the vibrant tourism industry and agricultural exports that provided the main sources of income. Being home to the largest coral reef, Belize is well known as a diver's paradise.

About Healy Consultants

For over a decade, the incorporation experts at Healy Consultants Pte Ltd., have been assisting investors worldwide to set up the optimum corporate structure for doing business in Belize. The services offered include company registration, banking solutions, accounting and tax and legal services and corporate support services.

Contact us

To inquire more about Belize company setup options and schedule a conference call, email us at email@healyconsultants or call us on +65 6735 0120.
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