Trinidad and Tobago, Belize strengthen trade ties

TRADE Minister Paula Gopee-Scoon said Belize is a pivotal trading partner for Trinidad and Tobago within Caricom.

She made these remarks at the Doing Business in Belize seminar on January 31.

Gopee-Scoon is currently leading a TT delegation on a five-day trade mission to Belize.

In a media release, Gopee-Scoon said businesses from the two countries can learn from one another and become stronger together.

"Belize enjoys an ideal geographic location, which bridges the gap between the Caricom region and Central America, positioning the country as an excellent destination for greater trade promotion and the development of transport and logistics," she said.

Trade between the countries is governed by the Revised Treaty of Chaguaramas and is duty-free for products that qualify under the Caricom rules of origin.

From 2019-2023, TT maintained a favourable trade balance with Belize, with the largest surplus recorded in 2022 of $89.5 million.

In 2023, non-energy exports accounted for 86 per cent of TT's exports to Belize, with the top export products including urea, cigarettes, plastic-insulated copper, fermented beverages and bottles for soft drinks.

Gopee-Scoon underscored the longstanding relationship between the countries, describing the trade mission as another milestone in their bilateral relations.

Prime Minister of Belize and Minister of Finance and Economic Development, John Briceno, welcomed the TT trade mission.

"By collaborating in trade, investment and technological exchange, we can create a symbiotic relationship that will foster sustainable development and prosperity for both nations. There are numerous avenues to explore together, with each country bringing its strengths to the table," he said.

The trade mission, which takes place from January 30-February 3, includes: Great Foods; Associated Brands Industries Ltd; Sunshine Snacks; Charles Chocolate; Devon Biscuits; National Canners Ltd; KC Candy; DSB Marketing Ltd; Micro Milling Ltd; VF Packaging Ltd; Christle Ltd; Massy Gas Products (Trinidad) Ltd; Blue Waters Products Ltd; Pepe’s Group Ltd; Rojan Marketing Ltd; Bricha Ltd; RHS Marketing Ltd; Eximbank; ExporTT; HADCO; Kaleidoscope Paints Ltd; Lazuri Apparel Ltd; Langston Roach Industries Ltd; Asa Enterprises; Leisurely Travel & Tours.