Business in Belize

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

1. To analyze the Belizean Economy and Global Trade
2. To know the business opportunities in Belize
3. To explore the Belizean trade relations with the country of the student
4. To know the Belizean Trade Agreements
5. To develop a business plan for the Belizean Market

The Subject “Foreign Trade and Business in Belize” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Languages: ( Belice Belize Belize).

Preferential Access and Trade Agreements of Belize

1. Belize and the Latin American Economic Area/Caribbean Economic Area
2. Central American Integration System
   1. Central American Common Market (MCCA) - Integrated with the SICA -
3. Association of Caribbean States (Belize)
4. CARICOM
   1. Colombia-Belize CARICOM Agreement
   2. Costa Rica-CARICOM (Belize) Agreement
   3. Partial scope agreement with Guatemala
   4. CARICOM-Dominican Republic FTA
   5. CARIFORUM-EU Agreement
5. Caribbean Basin Initiative
   1. The U.S.-Caribbean Basin Trade Partnership Act
6. Caribbean-Canada Trade Agreement
7. UK-CARIFORUM Free Trade and Economic Integration Agreement
8. Mesoamerica Project
9. Central American Bank for Economic Integration (CABEI)
10. Caribbean Development Bank
11. SELA

1. WTO
   1. GATS
   2. Agreement on Sanitary Measures
   3. Agreement on Technical Barriers to Trade
   4. Agreement on Preshipment Inspection
   5. Agreement on Safeguards
   6. Trade Facilitation Agreement
2. BIC (Containers)
3. Chicago Convention (ICAO)
4. IMO
5. Is not a member of the WCO
   1. Kyoto Convention

1. OAS
2. CELAC
3. ECLAC
4. Inter-American Development Bank

Global Economic Organizations of Belize

1. UN
2. WB
3. WTO
4. IMF
5. Commonwealth

1. Borders of Belize (Central America): Mexico and Guatemala
2. Belizean Capital: Belmopán
3. Largest City of Belize: Belize City
4. Other Belizean cities: Corozal and San Ignacio
5. Belizean area: 22,966 km²
6. Population of Belize: 351,000 people
7. 33% of the Belizean population has an African origin (Creole/African Diaspora), “Mestizos” represent 40% and Mayan origin only 9%
8. Life expectancy: 68 years
9. The official language of Belize is English, but Spanish is the most spoken language
10. Belize became independent from the UK in 1981. Since then belongs to the Commonwealth (Queen Elizabeth II is the Head of State)
11. Territorial disputes with Guatemala
12. Abolition of Slavery in Belize: 1824

The Belizean main religion is Catholicism (Christianity).

Belize belongs to the Western Civilization (Latin American Economic Area/Caribbean Economic Area).

Belizean Economy.

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

Belizean Foreign Trade.

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

(c) EENI Global Business School (1995-2023)
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