Business in Belize

EENI- School of International Business

Subject: Doing Business in Belize - Belmopan. Syllabus:

  1. Introduction to Belize (Central America)
  2. Doing Business in Belmopan
  3. The Belizean Economy
  4. The Belizean Foreign Trade
  5. The Foreign Direct Investment (FDI) in Belize
  6. Business Opportunities in Belize
  7. Access to the Belizean Market
  8. Business Plan for Belize

The objectives of the subject “Foreign Trade and Doing Business in Belize” are the following:

  1. To analyse the Belizean economy and foreign trade
  2. To evaluate the business opportunities in Belize
  3. To explore Belize's trade relations with the country of the student
  4. To know Belize's Trade Agreements
  5. To develop a business plan for the Belizean Market
The subject “Doing Business in Belize” is studied...
  1. Masters: International Business, America
  2. Doctorate in Business in America
  3. Course: Central America (Online)

Learning materials in English (Spanish Belice)

Master and Doctorate in International Business adapted to the Belizean Students

Credits of the subject “Foreign Trade and Doing Business in Belize”: 0.5 ECTS Credits

Sample of the subject - Doing Business in Belize
Doing Business in Belize

Description of the Subject: Foreign Trade and business in Belize.


  1. Frontiers of Belize (Central America): Mexico and Guatemala
  2. Capital: Belmopán
  3. The largest cities: Belize City. Other cities: Corozal and San Ignacio
  4. Area: 22,966 square kilometres
  5. The population of Belize: 351,000 people
  6. 33% of the population has an African origin (Creole/African Diaspora), “Mestizos” represent 40% and Mayan origin only 9%
  7. Life expectancy: 68 years
  8. The official language of Belize is English, but Spanish is the most spoken
  9. Belize became independent from the United Kingdom in 1981. Since then belongs to the Commonwealth (Queen Elizabeth II is the Head of State)
  10. Territorial disputes with Guatemala
  11. Belize's main religion is Roman Catholic (Christianity)
  12. Belize belongs to the Christian Civilisation (Latin American area/Caribbean Economic Area)
  13. Abolition of the slavery in Belize: 1824

The Belizean Economy.

  1. GDP of Belize: 1,448 million dollars
  2. GDP per capita: 4,576 dollars
  3. GDP growth: 3.6%.
  4. The services account for 45% of Belizean GDP
  5. Inflation: 1.2%
  6. The main Belizean economic activities are tourism, foreign trade, power generation, and agriculture (10% of GDP, 20% of the workforce)
  7. The manufacturing sector accounts for just 10% of Belize's GDP
  8. Petrol fields (the largest export product)
  9. Problems of fiscal imbalance
  10. Currency: Belizean Dollar (BZ $)

Foreign Trade of Belize

The Belizean Foreign Trade.

  1. The Belizean economy is open to the foreign trade
  2. The main Belizean exports are petrol, food products (sugar cane, citrus, bananas), fishery products, and textiles
  3. Important export agricultural sector
  4. The main imports are machinery, fuel, and manufactured goods
  5. Belize's main trading partners: The United Kingdom, the USA, Mexico, the CARICOM, and the Central American Countries
  6. Export Processing Zone
  7. Increased foreign direct investment (FDI)
  8. The largest investors are the United States and the United Kingdom
  9. The principal Belizean port is the Port of Belize

Caribbean Community (CARICOM)

Costa Rica-CARICOM Free Trade Agreement

Belize has Preferential Access and Free Trade Agreements (FTA) with:

  1. Central American Integration System (SICA)
  2. Central American Common Market (MCCA) - Integrated with the SICA -
  3. Association of the Caribbean States (Belize)
  5. Colombia-Belize CARICOM Agreement
  6. Costa Rica-Caribbean Community (Belize) Agreement
  7. Partial scope agreement with Guatemala
  8. CARICOM-Dominican Republic Free Trade Agreement (FTA)
  9. CARIFORUM-European Union Economic Partnership Agreement (EU)
  10. Caribbean Basin Initiative (CBI) + United States-Caribbean Basin Trade Partnership Act (CBTPA)

Association of the Caribbean States (ACS)

Belize is a member of:

  1. Mesoamerica Project
  2. Central American Bank for Economic Integration (CABEI)
  3. The Caribbean Development Bank
  4. Organisation of American States (OAS)
  5. Community of Latin American and the Caribbean States (CELAC)
  6. Economic Commission for Latin America (ECLAC)
  7. Inter-American Development Bank (IDB)
  8. Latin American and the Caribbean Economic System (SELA)
  9. World Bank (WB)
  10. International Monetary Fund (IMF)
  11. World Trade Organisation (WTO)
  12. Commonwealth
  13. United Nations

Samples - Business in Belize

Central American Common Market

Caribbean Basin Initiative

Caribbean Development Bank

CARICOM-Colombia Free Trade Agreement

Central American Integration System (SICA)

Mesoamerica trade

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