We can't agree on territorial issues but Belize and Guatemala are prepared to deal on matters of commerce. Guatemala's Minister of Economy Marcio Cuevas Quezada was in Belize today where he met with our Minister of Foreign Trade Eamon Courtenay. Both men agreed to fast track negotiations for a partial agreement for trade between the two countries. At this afternoon's launch of the negotiations, both ministers said once signed, the trade pact will be good for both countries.
Hon. Eamon Courtenay, Minister of Foreign Trade
"This is something that the private sector in Belize has asked for as well as the private sector in Guatemala so we are responding to the needs of investors on both sides of the border. Guatemala offers a tremendous opportunity for our exporters for our investors to go into that market and what we are going to do in that partial scope agreement is provide the clear rules which are reducing duty for exports to Guatemala for example and providing clear rules as to what type of things can go as a Belizean product, how much Belizean content must be in, and that kind of thing. And also where there are joint ventures we want to make sure if there is a Guatemalan firm wants to come and join up with a Belize firm in to Belize they can do so on very clear and transparent rules and if there is a dispute how that dispute can be resolved. We also believe tremendous opportunities exist for collaboration in tourism with our beaches and also our Mayan heritage which we can link up to theirs and offer opportunities for tourism from the United States or from Europe or from wherever to come and take advantage of both sides of the border."
"I think it is very prudent. Our traditional exports are not gone to start with but we have to take those same products for example sugar and convert sugar to something else. In other words, we have to add value to the citrus, to the sugar, and to the bananas. As you know Guatemala is a tremendous market for things like banana and plantain chips so its an opportunity which I think we need to seize."
Marcio Cuevas Quezada, Minister of Economy Guatemala
"We are offering Belize the Guatemalan market and we are working very hard in the integration of all the Central American countries. We are already seeing that we are one region and seeing opportunities for our companies to have bigger commercial opportunities."
Negotiations should be completed by April of next year. The first round of talks is scheduled for February 7th in Guatemala.