Belize and Mexico have entered into far-reaching agreements furthering commercial and industrial cooperation with the neighbouring border state of Quintana Roo according to an official press release issued by both countries today.
Today marked a historic event and a forging of a business relationship between Belize and the State of Quintana Roo of the United Mexican States.
Two memoranda were signed by Belize and Mexico. The first memorandum was signed between the Corozal Free Zone and the Chetumal Industrial Park to facilitate collaboration between the two investment schemes and to collaborate on attracting investment and markets.
The second memorandum formalized the commitment between the Ministry of Finance, Economic Development and Investment of Belize and the Secretary of Economic Development of the State of Quintana Roo to establish a formal framework for inter-organizational technical cooperation and coordination, which will facilitate the implementation of activities to:
a) Generate opportunities for investment and business;
b) Jointly develop regional investment programs and policies;
c) Promote investment opportunities through trade fairs, meetings, and exhibitions,
d) Promote cooperation in training and education for greater capacity building between institutions.
These MOUs will open the door for more meaningful business collaboration between the private sectors of both parties, facilitating easier information-sharing and providing greater business opportunities within a short time. These opportunities will range from tourism and cultural exchange to agro-industry, education, customs services and many more important business-related activities that closely link Belize and Quintana Roo.
Honorary witnesses were the Prime Minister of Belize Hon. John Briceño and Governor Carlos Manuel Joaquín Gonzàlez of the State of Quintana Roo. This historic signing is business-focused and will pave the way for collaboration well into the future.
Commenting on the practical applications of the agreements the PM stated that “This agreement is basically opening up markets for Mexican products into the Caribbean and actually using Belize to get into Central America. Belize is the only country that connects both Central America and the Caribbean. We need to take advantage of that. We’ve been talking about this for so long, but we have never really taken advantage of it. This time, again, the work with CEO Garcia and her team they’ve been pushing to see how we could participate and take advantage of those opportunities. As I mentioned in my speech a short while ago, we can then take materials from Mexico, bring them into Belize, convert it into a product, and then export itinto the Caribbean duty-free. We are also expanding the partial scope agreement that we have with Guatemala. The same thing we can do. We can take products from there – the materials – finish the product in Belize and then export into Guatemala. We mentioned the issue, for instance, of lime that when there is a shortage in Belize, we can bring products from Quintana Roo, combine with our product, and finalise the re-export process. So, the opportunities are limitless. Now, it’s left up to us as Belizeans to take advantage of those opportunities that are being made available to us by the signing of these two agreements.”
Prime Minister Briceño was joined by Hon. Jose Abelardo Mai, Minister of Agriculture, Food Security and Enterprise; Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development and Investment; Ambassador Stuart Leslie, Cabinet Secretary; Mrs. Narda Garcia, CEO in the Office of the Prime Minister and for Finance and Investment; Mr. Servulo Baeza, CEO for Agriculture, Food Security and Enterprise; H.E. Oscar Arnold, Belize’s Ambassador to Mexico; and representatives of the Ministry of Investment, the Economic Development Council and BELTRAIDE.