Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
As a CARICOM member, Belize’s foreign, economic, and trade policies vis-a-vis non-members are coordinated regionally. The country’s import tariffs are also largely defined by CARICOM’s Common External Tariff.
Belize is party to several other treaties because of its CARICOM membership such as the Economic Partnership Agreement (EPA) between CARIFORUM and the European Union (EU). In the wake of Brexit, these countries also signed a CARIFORUM – United Kingdom Economic Partnership Agreement in March 2019, which came into effect January 2021. Belize, as a CARICOM member state, is also a party to five other bilateral trade agreements with Colombia, Costa Rica, Cuba, Dominican Republic, and Venezuela.
Outside of CARICOM, Belize is a member of the Central American Integration System (SICA) on the political level but is not a part of the Secretariat of Central American Economic Integration (SIECA) that supports economic integration in Central America. Belize has a Partial Scope Agreement with Guatemala.
The Economic Cooperation Agreement with Taiwan entered into effect in January 2022 and provides preferential tariffs into Taiwan for an estimated 199 products from Belize, including beef, pork, chicken, lobster, and juices. Belize and Taiwan also signed an Open Sky Air Services Agreement that allows designated airlines to operate unlimited passenger and cargo flights between Belize and Taiwan via any intermediate points.
During the official visit in May 2022, Mexican President Andres Obrador announced the Mexican government’s decision to remove tariffs on agricultural exports from Belize entering the Mexican market. Other cooperation agreements were also concluded relating to tourism, education and training in agro-silvopastoral production systems.
Belize is a member of the WTO and adheres to the organization’s agreements and reporting system. The Belize Bureau of Standards (BBS) is the national standards body responsible for preparing, promoting, and implementing standards for goods, services, and processes. The BBS operates in accordance with the WTO Agreement on Technical Barriers to Trade and the CARICOM Regional Organization for Standards and Quality. Belize is also a member of the International Electrotechnical Commission (IEC), the International Organization for Standardization (ISO), and Codex Alimentarius.
There is neither a bilateral investment treaty nor bilateral taxation treaties with the United States. Belize does not have a Free Trade Agreement with the United States. It is, however, a qualifying country under the U.S. Generalized System of Preference (GSP), the U.S. - Caribbean Basin Trade Partnership Act (CBTPA) and the Caribbean – Canada Trade agreement (CARIBCAN).