Belize Boosts Efforts to Expand Sugar Exports to CARICOM

Belize is making efforts to expand sugar exports to the Caribbean Community (CARICOM) with an aim to solidify its role as a competitive player in the regional sugar trade.

A key meeting between the Minister of State for Foreign Trade, Dr. Osmond Martinez, the Directorate General for Foreign Trade (DGFT), and representatives from Belize Sugar Industries (BSI) focused on actionable strategies to overcome challenges and capitalise on opportunities in the CARICOM market.

Central to the discussions were issues such as optimising the Common External Tariff (CET) suspension regime, ensuring compliance with the Revised Treaty of Chaguaramas, and enhancing Belize’s position in the CARICOM Single Market and Economy (CSME).

“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,” said the minister.

The DGFT stressed the importance of active participation in CARICOM’s Monitoring Mechanism for Sugar (MMS) and Technical Working Group (TWG) processes, which focus on the use of technical standards and specifications in the CET suspension process. Strengthening compliance and transparency through these mechanisms will not only bolster Belize’s trade capabilities but also contribute to a fair and sustainable trade environment across the region.

Belize’s efforts to export sugar to CARICOM reflect a pivotal move in diversifying its trade portfolio and reducing reliance on external markets. By navigating regional trade frameworks and leveraging opportunities in the CARICOM market, Belize can achieve greater economic resilience and sustainability.