And from that press encounter with Prime Minister in Orange Walk, we report now to a major event involving his Foreign Affairs Minister, Eamon Courtenay.
For the last few days, Dr. "Gene" Leon, the President of the Caribbean Development Bank, and several other high-level members of the CDB have been on an official visit to Belize.
As one of its borrowing member countries, the CDB wants to help Belize's private sector to recover from all the economic pain that has come with the COVID pandemic. That collaborative effort has snowballed into 4 economic stimulus programs that are being collectively referred to as the CARIFORUM-EU Economic Partnership Agreement, the Caribbean Single Market and Economy Standby Facility Projects, and the Caribbean Development Bank's Belize Trade Program.
They're all focused on deepening ties between Belize and its trade partners. Through these initiatives, funding of over 3 million dollars will be made available to build the capacity of 3 important government agencies that provide import and export services to the private sector.
These programs were rolled out via a virtual ceremony, and 7News tuned in. Daniel Ortiz has that story:
Just like all of the nations of the world, Belize is still trying to recover from severe economic depression and stagnation that resulted from the COVID pandemic's 2 years of forced social distancing.
Hon. Eamon Courtenay - Minister of Foreign Affairs, Foreign Trade & Immigration
"Close to 2 years into the pandemic, it is still a struggle to find the right policy mix to ensure public health and safety, and in parallel, allow the necessary breathing space for economic activity, through relaxation of strident health measures."
"From a GDP contraction of 15% in 2020, GDP growth of 10% during the first 3/4 of 2021, I underscore and repeat, this growth is clearly not enough. The projected 9% growth for this year is insufficient to recover from the loss that we suffered as a result of the pandemic."
And that's why there's a brand new suite of grant programs that will hopefully help to accelerate the private sector's recovery. They are being made possible through a partnership between the Belize Government, the Caribbean Development Bank, the European Union, CARICOM, and the CARIFORUM.
Hon. Eamon Courtenay
"On Tuesday, we had a briefing by President Leon and Mr. Best from the Caribbean Development Bank in the Cabinet in which the president and Mr. Best explained to us the Caribbean Development Bank's vision for the immediate future in terms of assisting countries, including Belize to rebound from the effect of COVID-19 and the deep economic depression that accompanied that pandemic."
Ambassador Amalia Mai - CEO, Ministry of Foreign Affairs, Foreign Trade & Immigration
"It is a great pleasure for us to be hosting this launching event of the Caribbean Development Bank's Belize Trade Program and the EPA CSME Standby facility projects. Through this partnership, 4 stakeholders will be participating in a program of support headed by CDB, with some support from the European Union. The Customs and Excise Department which will benefit from a time-release study that will eventually inform the scope and feasibility of an electronic single window."
Ambassador Amalia Mai
"The 3 others include the Belize Agricultural [Health] Authority, BAHA, which will receive support for the development of a risk-based sanitary and phytosanitary import and export control system for Belize."
Francisco Gutierrez - Acting Managing Director, BAHA
"We have been looking forward to developing capacities, especially technological capacities to improve the services to those who import, as well as those who export."
Hon. Eamon Courtenay
"Today, we will see the infusion of grants totaling over 3 million dollars for a mix of public and private sector initiatives, aimed at bolstering existing trade infrastructure, and in the case of the Toledo Cacao Growers Association, increased competitiveness through product improvement and marketing presence."
These projects fit into a bigger picture of deepening trade ties between Belize, its immediate neighbors, and the Caribbean Single Market.
Hon. Eamon Courtenay
"We have stepped up to this role, in partnership with the private sector to expand the existing markets, open new ones, and revisit existing market opportunities with keener eyes. By logic, our priority for greater market access is our immediate neighbors: Central America and Mexico, while at the same time ensuring the optimization of secure markets provided through CARICOM Single Market and Economy, the Economic Partnership Agreements with the European Union and the United Kingdom, respectively."
Already, we have seen some promising stars in the agro-productive sector, such as the livestock trade, and in the non-traditional commodities like beans, corn, and spices. We are confident that our efforts will help other promising sectors see the light of day, and realize their full potential.
Just over 2 weeks ago, Belize and the Briceno Government also received a visit from officials representing the Central American Bank for Economic Integration (CABEI), including the bank's President.
