Belmopan- 17th, February, 2005

A Belizean delegation of government and private sector representatives is in Guatemala conducting the first round of negotiations for a Partial Scope Trade Agreement (PSA).

This first round of negotiations commenced on Monday and will conclude on Friday, February 18. This first round is aimed at clarification of proposals and exchange of information. The Belize delegation is led by Director General for Foreign Trade Jose Alpuche and includes representatives from several government agencies, private sector organizations and companies.

At opening ceremonies, Guatemalan Minister of the Economy, Marcio Cuevas Quezada, reiterated the desire of both countries to negotiate an agreement covering a basket of goods that will be beneficial to the peoples of both countries. He stated that it is natural for our two private sectors to pursue business linkages that will lead to increased production and job creation leading to further poverty reduction.

Director-General Alpuche stressed the investment opportunities offered by Belize in particular for joint ventures to access the CARICOM market under the Single Market and Economy. He noted that considering the differences in our economies Belize required special and differential treatment in the agreement.

The negotiations were launched in Belize in November last year and are expected to be concluded in three rounds of negotiations. The second round will be held in Belize. The aim of the agreement is to open trade in a limited number of goods and provide an investment promotion and protection framework.

The delegation returns home over the weekend.