There's a great deal of anxiety about the future of our exports given the threat of the free trade regime. Our sugar is facing increased competition and lower world prices and even our banana and citrus exports aren't safe. But news this week that Marie Sharp's pepper sauces will soon line the shelves in Wal-Mart and Winn-Dixie supermarkets in the United States was reason for hope. And more reason for hope today came when BELTRAIDE released their report on the priority sectors for investment and export promotion. The report identified Belize's top exports and Minister of Investment Hon. Mark Espat says traditional exports like sugar and banana will remain lucrative cash crops however also on the hot list is agro-processing which includes hot pepper sauces.
Hon. Mark Espat, Minister of Investment
"For some time now we are aware of the changing trade regime as one example of Belize's of competitive advantages - our geographic location for example. Those are things that are reinforced in the report. But I think the report also brings into very clear focus areas that we need private and public sector to fall behind. For example tourism is one of the biggest success stories of recent and is identified as both a medium and long-term high potential growth area. Agro-processing for example, internet technology, and furniture are areas that we feel can and will continue to grow with the support of the private sector."
Q: The report says we need to increase foreign trade but is that realistic given NAFTA, CAFTA, and the CSME?
Hon. Mark Espat, Minister of Investment
"Well earlier this week we had a shining example of the results of persistence and of a good product. Marie Sharps announced that they have signed a major agreement with several big distributors including Wal-Mart. I think Belize has certain products that we can carve a niche for. We can't compete for example against the Brazils of this world or the Chinas of this world but certainly I think we can be very competitive in certain products. And the key is for us to pick some products, to target them, and to be the best we can be in those areas."
Q: If you can come up with definitive list of Belize's top 5 exports what would make the list?
Hon. Mark Espat, Minister of Investment
"Well many of them will remain our traditional products. Certainly I think there is a medium and long-term future in citrus and banana and aquaculture has grown significantly. The big story of course has been tourism over the last couple of years and that is the medium and long-term prognosis for that industry. And agro-processing I think has great potential. So those are some of the areas that we will be focusing on."
The report was funded by the Inter-American Development Bank.