Wednesday, May 29, 2024

Representatives from the Ministry of Investment, Trade and Commerce and the Government of the Republic of China (Taiwan) Hold Preliminary Dialogue towards a Partial Scope Agreement


Belmopan. September 19, 2019. Hon. Tracy Taegar-Panton, Minister with responsibility to Investment, Trade and Commerce and officials of the Ministry welcomed and hosted a meeting with trade representatives from the Government of the Republic of China (Taiwan) on September 18, 2019.

The purpose of the meeting, led by the CEO of the Ministry, Mr. Duane Belisle, and the Director General for Foreign Trade, Mr. Andy Sutherland, was to chart the path towards commencing negotiations of a possible Partial Scope Agreement (PSA) between the two countries.

The countries will pursue negotiations for the conclusion of a PSA with the following core objectives:

1. to establish tariff preferences and eliminate unnecessary non-tariff barriers to trade in goods covered under the agreement;

2. to establish clear and transparent rules for trade in goods, including rules of origin, consistent with the Enabling Clause under the GATT-WTO;

3. to establish a mechanism for promoting investment and business facilitation; trade and investment promotion in each other’s jurisdiction; and

4. to promote development cooperation and technical assistance to assist and facilitate Belize’s further integration into the multilateral trading system.

These objectives are aimed at creating and increasing trade and investment opportunities between the countries based on a fair, predictable, transparent and long-term legal framework, with a built-in provision for future expansion in the scope of coverage. The first round of negotiations is scheduled to take place at the end of October 2019 and both countries anticipate concluding a negotiated agreement within a four-month period.

Read more


Please help support Local Journalism in Belize

For the first time in the history of the island's community newspaper, The San Pedro Sun is appealing to their thousands of readers to help support the paper during the COVID-19 pandemic. Since 1991 we have tirelessly provided vital local and national news. Now, more than ever, our community depends on us for trustworthy reporting, but our hard work comes with a cost. We need your support to keep delivering the news you rely on each and every day. Every reader contribution, however big or small, is so valuable. Please support us by making a contribution.

Local News