The U.S. Embassy this morning held opening ceremonies for its fourth annual 'Made in the USA Exhibition.' The event is geared at a showcasing American products as well as services to the Belizean public as well as creating investment opportunities and networking between American and Belizean businesspersons. In his address Minister of Foreign Trade Godfrey Smith says there is a unavoidable trade disparity between the U.S. and Belize.
Godfrey Smith, Minister of Foreign Trade
"Belizeans are totally hooked on American products. There's a trade flow, of course there is a massive imbalance in favor of the US but that is expected; we are a small country and they are a big country. What we need to do now of course as businessmen and businesswomen is to learn from the best practices of the United States. In terms of the trade imbalance, meaning more being imported into Belize than we export, as I said we will never close that gap but it behooves in Belize to try to do or enter into joint venture with U.S. businesses. Through that will come transfer of technology, new equity and so on you can learn a lot by entering into joint ventures with other business persons especially from the United States; a lot of innovations will come by that kind of collaboration as well and we have to move forward to more finished products and we have to take advantage of our closeness with the U.S. government and its business persons to develop ourselves and give our products that additional edge, use the technology of the Americans, and work with them so that we can have a bigger stake in the market."
Lloyd Moss, Charge d'Affairs, U.S. Embassy
"This venue provides Belize's importers and service providers an opportunity to showcase and promote their U.S. products and services. Secondly the event helps introduce new American products and services to the Belizean market. And finally it offers an opportunity for business persons in Belize to do match making transactions which result in increase sales for the firms represented here."
The exhibition closes tomorrow.
