Belize’s trade and investment service, BELTRAIDE, has signed an agreement to join a regional trade information network. It hosted the press on Friday to give details. CEO in the Ministry of Trade and Investment Michael Singh summarizes the importance of the network.
Hon. Michael Singh- CEO in the Ministry of Trade
“Ideally, it should offer the kind of information of productivity and availability of products and like I said, policies on the volume and value of products that have moved and as available to be moved, so that anybody making a decision and investment, for instance you want to invest on grain production, and you need to understand what is the current productivity of grain, what are the markets, what are the exports, etc. It gives the best idea to whether the investment makes sense or not. So, really, it’ really to put all the information on the products and services that we trade in one area, so, people can tap into it and get an idea. Now, of course, as I said, information is only as good as what you put into it, so it means that we have to collaborate with all the partners that are here today for them to access the information and also put in their version of what has to go in”.
Locally, says BELTRAIDE director Nick Ruiz, Belize’s businesses will be able to take advantage of a link with Mexico, Guatemala and the Caribbean. And David Gomez, manager for trade and export development at the Caribbean Export and Development Agency (CEDA), says the process is long overdue. Participants met in a workshop to develop local capacity, including statistics, tariff data and developing a register of businesses. Several regional partners including Jamaica, Trinidad, Barbados and Suriname will also be signing on.