Belize – First Central American Country to Launch Aid for Trade Strategy

 

Media reports out of Belize claimed that the country was was buzzing with activities on Friday, with dozens of diplomats, foreign trade and commercial officials from overseas, who convened for the launch.

The Central American country was praised by several international agencies for taking such an important step.

In delivering the keynote address, the country’s Foreign Affairs and Foreign Trade Minister, Wilfred Elrington, traced back Belize’s trade history since 1671 during the colonial days.

In the audience were representatives from the Inter-American Development Bank, the Commonwealth Secretariat, CARICOM, World Trade Organisation, and high commissioners, ambassadors from several countries including Brazil, Venezuela, Mexico, Taiwan, Guatemala, and several other countries.

Chief Executive Officer of the Ministry of Foreign Affairs and Foreign Trade, Alexis Rosado, spoke of the need for more co-operation and assistance from international partners since trade can be a powerful engine for economic growth in order to reduce poverty.

Director of Foreign Affairs and Foreign Trade, Urla Kantun-Coleman, outlined the four pillars for Aid for Trade: infrastructure and trade facilitation; regional integration and implementation of trade agreement, and standards, and private sector competiveness.

Several participants expressed the view that there was need for better co-operation and co-ordination between the public and private sector.

The Aid for Trade Strategy is designed to support the government in identification of priorities for building trade capacity, improving co-ordination between ministries, designing and monitoring an evaluation mechanism, and initiating a dialogue with donors and investors, whether local or foreign.

(Contents f this article was lifted from caribbeannewsnow.com)

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