Government TPR |
WT/TPR/G/353 |
G-V§9 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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The National Sustainable Tourism Master Plan, the Economic Partnership Agreement (EPA) Implementation Plan which have been approved and the National Export Strategy (NES) which is to be approved, are integral elements of the Growth and Sustainable Development Strategy (GSDS). The GSDS proposes to strategically prioritize sectors for development, improve access to development finance, make existing markets more efficient and penetrate new markets among other objectives. This will involve promoting investment in agriculture, local manufacturing, agro-processing and other productive activities with tax and incentives policies.
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Government TPR |
WT/TPR/G/353 |
G-VIII§1 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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(...) Considerable challenges emerging from the financial services sector in relation to its correspondent banking relationships, low resilience to the adverse effects of climate change and vulnerability to external trade factors affecting the productive sector need to be overcome. (...)
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Keywords
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Government TPR |
WT/TPR/G/353 |
G-VIII§2 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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(...) Additional key structural initiatives enshrined in its national sustainable development, and trade and investment strategies that would drive the economy, including restoration of exports, attraction of Foreign Direct Investments (FDI), improvement of industrial policies, enhancement of market efficiencies, enhanced infrastructure, and the increased investments in human capital are underway. Belize remains committed to the principles of the multilateral trading system and continues to strive for trade and economic development within the context of an increasingly globalizing world.
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-Summary§2 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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Belize's economy is vulnerable to internal and external shocks, including natural hazards and diseases affecting the agricultural and aquaculture industries. (...)
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Keywords
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-Summary§8 |
Belize |
2017 |
Measures |
Internal taxes |
Not specified |
Relevant information
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(...) In addition to tariffs, revenue replacement duties (RRDs) and environmental taxes are applied to imports from non-CARICOM countries. (...)
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Keywords
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-Summary§12 |
Belize |
2017 |
Sectors |
General environmental reference |
Fisheries |
Relevant information
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Fishing and aquaculture, contributing 3% to GDP, contracted significantly in 2015 as farmed shrimp output declined by 42% due to a disease outbreak, while total catch has declined since 2010. Belize has a large trade surplus in fish and fish products. Fishing policy is focused on stock management, including through the Caribbean Community Common Fisheries Policy.
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Keywords
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-I§1 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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Belize is a small country located in Central America, bordering Mexico and Guatemala. It is an upper-middle-income country, with a GDP per capita of US$4,757 in 2015. Its unique natural resources support the country's tourism and agricultural sectors, and it has an advantageous geographical proximity to major markets. Trade is of particular importance to this relatively open economy with a limited domestic market. In 2015, trade (exports and imports of goods and services) accounted for 129% of GDP, up from 113% in 2010 (Table 1.1). Its economy is vulnerable to internal and external shocks, including natural hazards – such as hurricanes, tropical storms and flooding due to its extensive coastline and the exposed position of its major city – and diseases affecting the agricultural and aquaculture industries. Reflecting this vulnerability, the real GDP growth rate varied during the review period, rising from a low of 0.7% in 2013 to a high of 4.1% in 2014, and falling again to 2.9% in 2015.
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Keywords
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Natural resources
Environment
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-I§26 |
Belize |
2017 |
Measures |
Internal taxes |
Not specified |
Relevant information
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Belize remains dependent on trade taxes for government revenue, and its tariff regime comprises a number of different rates (Section 3.1), leading to widely different effective rates of protection for different activities. Furthermore, trade taxes on imports include not only tariffs, but also an environmental tax, a revenue replacement duty, and other duties and charges. (...)
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Keywords
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-I§30 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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In April 2016, the Government adopted the Growth and Sustainable Development Strategy (GSDS), which guides policies for sustainable and inclusive growth during the period 2016-20. (...)
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Keywords
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Secretariat TPR |
WT/TPR/S/353/REV.1 |
S-Table-II.2 |
Belize |
2017 |
Trade Policy Framework |
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Relevant information
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Table 2.2 Main trade-related legislation, 2016
Area Legislation
Environment Environmental Protection Act, Chapter 328, Revised Edition 2000
Environmental Impact Assessment Regulations, Statutory Instrument (S.I.) 107, 1995
Pollution Regulations (S.I. 56, 1996)
Environmental Protection (Effluent Limitations) Regulations (S.I. 94, 1995)
Coastal Zone Management Act 1998, Chapter 329, Revised Edition 2003
(...)
Mining Mines and Minerals (Safety, Health and Environmental) Regulations No. 33, Revised Edition 2003
(...)
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