WORLD TRADE  
ORGANIZATION  RESTRICTED 
WT/TPR/G/134 
14 June 2004 
 (04-2465) 
Trade Policy Review Body Original:  English 
   
 
  
 
TRADE POLICY REVIEW 
 
BELIZE 
 
Report by the Government 
 
  
 
Pursuant to the Agreement Establishi ng the Trade Policy Review Mechanism 
(Annex 3 of the Marrakesh Agreement Establishing the World Trade 
Organization), the policy statement by the Government of Belize is attached. 
 
 
Note: This report is subject to restricted circul ation and press embargo until the end of the meeting 
 of the Trade Policy Review Body on Belize. Belize WT/TPR/G/134 
 Page 3 
 
 
CONTENTS 
 
    Page 
I. INTRODUCTION 5 
II. TRADE POLICY FORMULATION 6 III. MACROECONOMIC CONTEXT 7 
 (1) E
XTERNAL TRADE  8 
 (2) P OLICY STRATEGY  8 
IV. KEY SECTORS  8 
 (1) A GRICULTURE  8 
 (2) Q UANTITATIVE RESTRICTIONS  9 
 (3) F ISHERIES  10 
 (4) S ERVICES  10 
 (5) T OURISM  10 
 (6) F INANCIAL SERVICES  11 
V. INVESTMENT DEVELOPMENT STRATEGIES 11 VI. REGIONAL DEVELOPMENTS 11 
VII. INTERNATIONAL TRADE NEGOTIATIONS 12 
VIII. CONCLUSION  12 
 
 
 Belize WT/TPR/G/134 
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I. INTRODUCTION1 
1. Belize borders the Caribbean Sea, between Guatem ala and Mexico at geographic coordinates:  
17 15 N, 88 45 W, with a land and water area of 22,966 sq km and a population of 273,0002 
inhabitants.  Though geographically located in Cent ral America and sharing borders with Mexico and 
Guatemala, to the North and West respectively,  Belize has historically established closer ties 
economically, politically and culturally with its Cari bbean counterparts.  It is also geographically 
distinct from most of its Caricom counterparts becau se it is one of the three members that is not an 
island state. 
2. Belize is the only English speaking country in Central America, achi eving its independence 
from Great Britain on 21st September 1981. The government of Belize is a Parliamentary Democracy 
with Her Majesty Elizabeth II, the Queen of Englan d as the titular Head of State, represented by the 
Governor General. Belize's Constitution provides for a three-way balance of power between the 
Executive, the Legislative and the Judicial branches of Government. 
3. Given Belize’s geographic location, it is highly susceptible to natural disasters and 
environmental damage.  It has been noted that the prevalence of natural disasters and the resulting 
impact in terms of per capita costs and per unit of  area damage is often much more devastating on 
small economies than in a large one.  During the three year period, 1999-2001, Belize’s economic 
performance was impacted by Hurricane Keith, Tropi cal Storm Chantal, and Hurricane Iris.  As a 
result of these storms, Belize suffered $857.7mn in lo sses and damages.  Hurricane Mitch, while it did 
not hit Belize directly, caused a loss in the econom y of some $20mn due to uncollected revenue and 
temporary economic paralysis. 
4. Belize’s ethnically diverse population remains extremely dispersed with about twelve 
inhabitants per square kilometer.  This dispersi on of a small population over a relatively large land 
mass increases the cost of the delivery of goods and services including by the public sector making 
the latter very expensive.  In fact, one of the more  underdeveloped areas in Beli ze is the southern part 
of the country which is characterized by relativ ely poor infrastructure making accessibility to some 
areas extremely difficult and expensive.  The resu lt has been notable under-development compared to 
other more centralized locations. 
5. Because of varying challenges, Belize has not attracted large-scale industries for the 
production of goods subject to economies of scale at competitive prices.  As a result, exports remain 
highly concentrated on traditional products such as citrus, banana and sugar that are sold in 
preferential markets.  However, the system of pr eferential arrangements is threatened by preference 
erosion such as through the EU’s Everything Bu t Arms Initiative in favour of least-developed 
countries, internal reform in the preference-giving countries and legal challenges in the WTO.  This 
dependence on a few export products and a few mark ets indicate that even small changes in the 
international price of commodities have a big impact on the domestic economy. 
6. Cognizant of the erosion of the preferential tr eatment, and working within the remit of its 
options, Belize has undertaken sustained efforts at export diversification.  Diversification has had 
relative success for large farmers but not for small fa rmers.  Diversification into niche products is one 
of the strategies that should contribute to the su stainability of small farmers in Belize, given the 
present trends in globalization and trade liberaliza tion.  These products represent niche markets that 
largely are not of interest to the big multi-nationals  due to their small size relative to other product 
lines.  Being small limits the possibilities of fu lly diversifying the export base and lack of export 
                                                      
1 All figures are in Belize dollars unless otherwise indicated. 
2 Source:  Mid-Year populatio n estimates for 2002, Central Statistical Office (CSO). WT/TPR/G/134 Trade Policy Review 
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diversification is clearly a disadvantage as it make s Belize more vulnerable to changes in demand or 
in the prices of the few commodities and services we export. 
7. The sugar, citrus and banana industries play an  invaluable role in the socio-economic growth 
and stability of Belize.  The sudden and dramatic erosion of trade preferences is therefore very 
alarming to Belize because of the mono- crop nature of our economic profile. 
8. Though Belize’s economy has more recently shown signs of a gradual transformation from an 
economy that is primarily agriculture to one that is  more service-oriented, Be lize is still fundamentally 
an agro-based economy.  For Belize, the agricultu re/agri-business and tourism have been the twin 
engines of growth for the past years.  Howeve r, the performance of these key sectors is largely 
determined by foreign market conditions which expose Belize to economic volatility.  Finally, 
because Belize’s share of world trade is relativel y small, Belize cannot dete rmine its own terms of 
trade, reinforcing the vulnerable nature of a small economy. 
9. It is acknowledged that differences in size de termine differences in the economic structure 
and social and administrative organization which in turn has implications for the fiscal structure.  
Belize is an archetypical small economy that dem onstrates such structural features as openness, 
dependence on trade, and a large and chronic trade deficit.  A significant proportion of fiscal revenue 
is dependent on the collection of custom duties a nd other trade related charges.  In fact, the 
proliferation of different taxes and duties is an unf ortunate result of the implementation of regional 
and multilateral commitments taking into accoun t the reality of our dependence on taxes on 
international trade. 
10. The Government of Belize (GOB) recognizes that trade is instrumental in advancing Belize’s 
economic and social prosperity.  In the current gl obal political environment, it is only through greater 
integration into the international economy that the GOB expects to further expand Belize’s growth 
potential, broaden its economic base, while also en suring that all segments of the population benefit 
from increased economic welfare.  Cognizant of the di fficulties faced by Belize in participating in the 
global economy, GOB underscores the principle that any integration agreement (between asymmetric 
parties) takes due account of the needs and weakn esses of developing countries and the vulnerabilities 
endemic to small  developing states. 
11. Belize advocates the Principle of Gradualism wh ich mandates that sma ll economies should be 
gradually integrated into the rules based internati onal economy, paying special regard to the need for 
special and differential treatment to  be accorded to smaller economies. 
II. TRADE POLICY FORMULATION 
12. GOB has increasingly recognized the importance of trade as a tool for advancing Belize’s 
economic and social prosperity, and to that end h as taken concrete measures to direct the necessary 
resources thereto.  Currently, there is an established Ministry of Trade that d eals with trade issues and 
trade policy formulation.  However, because of scarce resources, the Ministry relies on only five 
junior professional economists who have respons ibility for ACP-EU relations, WTO, CARICOM, 
CARICOM-Bilaterals, FTAA, and Beli ze’s Bilaterals.  These economists  are often required to deal 
with different issues and are responsible for more di ffused and complex tasks than in larger countries 
where financial and personnel resources allow for greater separation of administrative and professional roles.  The resource constraints are so severe that for Belize’s first trade policy review, 
there was only one junior economist available to c oordinate the entire process.  Notwithstanding these 
constraints, and with a renewed focus on trade as a potential tool for development, Belize welcomes 
its first trade policy review.  This Trade Policy Re view has proven to be an indispensable aid in Belize WT/TPR/G/134 
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revisiting and drafting trade policies aimed at the sustainable development of Belize and its 
integration into the global economy, recognizing  its special vulnerabilities as a small economy. 
13. In an effort to deal with the resource constr aints, a Trade Technical Team was established in 
2002 comprising of core ministries such as Minist ry of Agriculture, Fisheries and Cooperatives, 
Ministry of Natural Resources, Environment and Indust ries, Ministry of Finance, Ministry of Foreign 
Affairs, and Ministry of Economic Development. This team serves as the technical support to the 
Ministry of Foreign Trade and the NTNC.  As we ll, in June 2003, Cabine t established the National 
Trade Negotiating Commission (NTNC) which was fu lfilling its commitment to “creating a tripartite 
commission of Government, Civil Society and the Private Sector to negotiate trade agreements and to 
devise policies to cope with the effects of globa lization.” The NTNC, which is co-chaired by the 
public and private sector, meets quarterly and provid es advice to Government as well as assists in the 
development of trade positions and policies for Belize. 
14. Belize is a non-resident WTO Member.  Because of the need to stretch scarce professional 
resources, Belize’s Mission accredited to the WTO does not have any experts. This certainly has negative implications for its integration into the multilateral trading system and problems are 
compounded by its inability to effectively partic ipate in the multifaceted WTO processes and to 
implement and administer WTO agreements effe ctively.  Consequently, the WTO is covered 
professionally from our Embassy in Brussels, Belgium. 
III. MACROECONOMIC CONTEXT 
15. During the post independence era (1980-1996) real  GDP grew at an average of 5.0% as the 
authorities moved towards creating a more open and vibrant economy.  However, independence 
occurred around a time when there was a severe deterior ation in the terms of trade caused by a fall in 
export earnings reflecting a decline in world prices.  As a result, in 1984, the country entered into a 
standby agreement aimed at restori ng macroeconomic stability and growth. 
16. The consolidation of preferential trade agreem ents between Belize and the European Union, 
the United States, CARICOM and Canada set the stage for a remarkable economic boom in the 
background of the stabilization programme. The recove ry also resulted from private sector investment 
in key agricultural industries and housing and touris m-related construction. High priority was also 
given to fiscal restraint, characterized by improve ments in tax collections and reductions in current 
expenditure. 
17. Real GDP growth remained high during 1998 to 2002, averaging a remarkable 7.2%.  But the 
economic expansion was accompanied by a notable d ecline in domestic savings and an increase in 
external borrowing.  This raised concerns about  the country’s economic vulnerability and the ability 
to withstand the impact of external shocks.  Gove rnment decided on a series of adjustment measures 
such as reforms aimed at opening the economy and enhancing private sector participation. This 
included trade policies to ease import and export licensing requirements, price liberalization and 
streamlining of the investment incentive system.  In addition, the Government continued with its 
privatization program to reduce government’s role in the provision of some services.  To date, Belize 
has completed the privatization of the telecommunica tions, electricity, water services, airport and port 
authority sectors and the printery. 
18. The most recent data indicates that general economic activity has been respectable with GDP 
growth being recorded at 4.3% in 2002.  This incr ease was driven by substantial gains in the tourism 
and tourism-related sub-sector a nd increased output from agriculture, fisheries and forestry activities WT/TPR/G/134 Trade Policy Review 
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as these sectors recovered from the negative effects of hurricanes, a shrimp virus epidemic and the 
terrorist attack on the United States. 
(1) EXTERNAL TRADE  
19. As a small developing country, Belize relies heav ily on foreign trade, and particularly on 
imports to fuel economic expansion and activity, resu lting in an increasingly large trade deficit.  In 
1994, the deficit stood at Bz $160.8mn.  In 2002, it had more than doubled to reach a total of 
Bz $376.5mn.  Over the period, imports have mainta ined a value of over 65% of the GDP and exports 
over 35% during the same period.  Currently, Beli ze’s major export markets are the United States and 
the United Kingdom.  In 2002, these two destinations accounted for more than three-quarters of the 
export market. 
20. In terms of exports, Belize’s economy is larg ely dependent on a few commodities: sugar, 
citrus, and banana .  However, in the past few years tourism and shrimp farming have begun to 
contribute significantly to export revenues.  In 2002,  these five industries accounted for approximately 
three-quarters of Belize’s export earnings. 
(2) POLICY STRATEGY  
21. Belize’s economic strategy aims at strengthening its foreign reserve position and 
consolidating the fiscal accounts; boosting economi c growth through continued investment in 
infrastructure and promoting sustainable social  and economic development.  Rural poverty will 
continue to be addressed through the promotion of small-scale agricultural development and the 
implementation of rural community-based projects to improve social infrastructure in the villages.  
Through the formulation of appropriate trade an d investment polices, government also seeks to 
enhance the role of the private sector in the new global environment. 
IV. KEY SECTORS 
(1) AGRICULTURE  
22. Agriculture is a way of life and the means to  sustainable livelihood and employment which 
are essential to human development.  Therefore, GOB has appropriately designated 
agriculture/agribusiness as one of the main engine s of growth for Belize’s economy.  Agriculture 
continues to form the foundation of the productive sector and the rural economy of Belize.  It is a 
major source of foreign exchange earnings and supplies incomes, basic foods and subsistence 
livelihoods for a significant portion of the population.   At least 35.0% of GDP and 41.0% of total 
employment is directly dependent on agriculture, fi sheries and forestry.  In addition, 90.0% of all 
manufacturing is based on input from or for the prim ary sectors of agriculture, fisheries, and forestry. 
23. Belize’s export trade is domin ated by agricultural exports, particularly the traditional 
products, sugar, bananas, citrus and in recent years,  marine products.  In 2002, agricultural exports 
accounted for 68.2%3  of total domestic exports.  Traditi onal crops represented 84.5% of total 
agricultural exports and 57.6% of total domestic exports while non-traditional exports (papayas, 
peanuts, black eye peas, cocoa beans, honey, ch icle, and pepper products) accounted for 15.5% of 
total agricultural exports.  In 2002, marine produc ts represented 21.0% of  total domestic exports, 
more than doubling since 1994. 
                                                      
3 Belize Central Bank data. Belize WT/TPR/G/134 
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(2) QUANTITATIVE RESTRICTIONS  
24. Belize maintains import licensing for certain se lected agricultural products primarily as a 
monitoring mechanism to check the excessive smugg ling which shows signs of increasing, given the 
extensive contiguous border with Mexico and Guatemala.  In addition, as a micro-state, Belize lacks 
the administrative and financial capacity to resort to  traditional trade remedies to protect its domestic 
base when there are disturbances on world markets which have effects on employment or prices and 
in turn can have negative effects on food security and human development. 
25. The banana, citrus and sugar industries, smal l by international standards, contribute 
significantly to the socio-economic stability of Belize.   For Belize the gains from trade have been sub-
optimal partly because of falling commodity prices and specialization in e xports with low value 
added. 
26. Through a deliberate initiative to eradicate pove rty in the more poverty stricken areas in 
Belize, both the banana and citrus industries are located in the south of the country, while cane growing was encouraged in the north.  Both sugar and citrus are characterized by heavy subsistence 
farming, increasing the vulnerability of these farmer s to external shocks in the global economy. 
27. As a beneficiary under the CBI, Belize exports 70% of its Frozen Concentrate Orange Juice to 
the US.  Citrus and citrus products account for 21  percent of export earnings and contributed an 
average of 6 percent to GDP over the last ten years which makes this industry the second largest 
income generator and foreign exchange earner.
4  As such, the industry plays an important role in 
generating employment and providing sustainabl e rural livelihood for the southern area.  
Approximately 1,300 persons are directly employ ed and more than 2,000 people are seasonally 
employed.  Many small growers have been forced to  exit the industry, as a direct result of declining 
incomes received within the last five years.  In 2002, production declined due to damages caused to 
the groves by Hurricane Iris.  It is expected that as the US increasingly liberalizes trade, the industry 
will encounter additional difficulties in competing against large citrus producers that benefit from 
subsidies. 
28. Banana exports ranked as the fourth largest expor t earner for the country in 2002.  In October 
2001, Hurricane Iris completely damaged 85% of the banana industry.  However, 2003 banana 
production figures reflected a remarkable recove ry, reaffirming the industry’s resilience and 
importance in the Belizean economy.  The industry generates approximately 3,000 jobs directly and 
some 9,000 jobs indirectly and at least twelve communities in Southern Belize depend directly on the 
banana industry. 
29. Belize as an ACP producer, exports bananas under the EU Banana Regime known as the 
Tariff Quota Regime duty- free within an ACP Quota of 750,000 MT.  This system stipulates that all 
bananas entering the EU have a license which is issued  quarterly by the EU and are issued principally 
to importers who meet the criteria of being an im porter of bananas during the reference period of  
1994 to 1996.  As importation of Belizean bananas in to the EU market was handled through Fyffes, 
no licenses were issued to Belizean exporters.  As  a consequence thereof, Belize exporters must 
purchase licenses at a significant cost in order to e xport total production whic h substantially impacts 
the  rate of return to growers.  With the move to the Phase II, tariff only regime, it is hoped that Belize 
will be provided an opportunity for the first time, to have a say in the marketing of its fruit which 
would ensure a viable and sustainable future. 
                                                      
4 Cuellar, L. “Florida Citrus Mutual Paper”. WT/TPR/G/134 Trade Policy Review 
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30. Sugar cultivation is concentrated in the Corozal a nd Orange Walk districts of northern Belize.  
Presently, there are 8,553 cane farmers, the majority of whom are considered small farmers holding 
less than 25 acres.  Additionally, approximately 200 0 more people are employed directly in various 
other activities related to the industry.  Sugar earnings  contributed an average of 21.4% to total export 
earnings over the last six years.  The EU, Unite d States and CARICOM are the major export markets 
under which Belize enjoys preferential access for suga r.  The recent challenge mounted against the 
EU Sugar regime, by Brazil, Thailand and Australia  will have a direct impact on the sugar industry 
and by extension the Belizean economy.  Belize has embarked on a process of industrial reform and is 
firmly committed to increasing its competitiveness in the sugar market and preserving the socio-
economic benefits deri ved from the industry. 
(3) FISHERIES  
31. The fisheries sector is growing in its importa nce to Belize.  In 2002, the marine sector 
represented approximately 4.0% of the country’s GD P and was responsible for 1.5% of the employed 
labour force.  Shrimp farming has significantly contributed to this sector making it one of the fastest growing industries in Belize.  It has significantly increased foreign exchange earnings and has 
elevated the position of the Fisheries Sector from the fifth to the third position in 2001-2002 as a 
foreign exchange earner.  In the past few year s, the global market has been characterized by 
oversupply leading to weakening price levels for fa rmed shrimp.  Belize expor ts shrimps mainly to 
the US market and a tiny portion to the Mexican ma rket.  However, relative smallness of the industry 
is an impediment to development since it is more difficult to absorb price shocks, or other negative 
unpredictable market changes than would large scale producers. 
(4) S
ERVICES  
32. Belize’s services sector is another dynamic contributor to the economy.  Services represent 
the biggest sector in the Belizean economy and account for about 59.0% of GDP.  It is responsible for 
60.0% of the employed labour force.  The sector is the country’s single largest foreign exchange earner. 
(5) T
OURISM  
33. The tourism industry is relatively young and in 1990, the Government made the first real 
attempt to focus on tourism.  Tourism, along with  agriculture has been designated an engine of 
growth, contributing 18.0% of Belize’s GDP and respons ible for one in every four jobs in the labour 
force, directly, indirectly or induced.  Over the past few years, it has become the largest foreign 
exchange earner in the country. 
34. In 1998, the face of tourism was changed with  the revamping of the Belize Tourism Board’s 
structure and mission.  The Board adopted a ten year  strategic plan titled the “Black Stone Report” as 
the work-plan for the industry.  This plan focu sed on a sustainable tourism development policy. 
35. In the light of ensuring the sustainability of the tourism industry, the Belize Tourism Board 
has drafted legislations to regulate different sectors of the industry.  These include operator 
legislation, tour guide legislation, Hotel and Tourist Accommodations Act, Minimum standards Act 
and most recent the Cruise Ship Policy.  The em erging needs of this sector will continue to be 
assessed and regulations updated to address current climate. 
36. The reliance of the economy on the tourism sector  continues to grow as the agricultural sector 
faces additional hardships on the world market.  Rea lizing this, the current tourism policy is geared Belize WT/TPR/G/134 
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towards not only survival in the new global market  place, but to become a leader in this new 
environment. 
(6) FINANCIAL SERVICES  
37. The financial services sector in Belize is underd eveloped when compared to its Caribbean 
counterparts although GOB has identified this area as a possible source for diversification. 
38. Notwithstanding the size of this sector, government  has demonstrated its commitment to high 
regulatory standards and has taken the necessary acti on to meet internationally accepted standards in 
order to mitigate the occurrences of illegal activity , tax evasion, tax crime and money laundering. 
39. Belize as a member of the Caribbean Financia l Action Task Force was reviewed in 2002 and 
the review highlighted problems with some impl ementation measures.  As a result, the Authorities 
enacted the following measures: 
(a) The International Financial Services  Practitioner’s Code (Code of Conduct) 
Regulation 2001 was amended to control the mobilization of Bearer Shares. 
(b) The Money Laundering (Prevention) Act was amended to include accounting, legal 
and international services as financial in stitutions for the purpose of proper due 
diligence, record keeping, identifying  and reporting suspicious reports. 
(c) The Money Laundering (Prevention) Ac t was amended to define terrorism, a 
predicate offence listed in the Schedule of Prescribed Money Laundering Offences,  
(d) The Financial Intelligence Unit (FIU) w as established under its specific statue. 
(e) The FIU was given investigative and prosecutorial powers. 
V. INVESTMENT DEVELOPMENT STRATEGIES 
40. At present, small economies maintain measures in order to compensate for their inherent cost 
disadvantages and to attract investment.  Belize is  striving to move away from dependence on a few 
traditional exports traded under preferential arrange ments by developing tourism and other services 
and by diversifying into export-oriented manufactur ing through the use of fiscal incentives and other 
investment measures which have to be  phased out under current WTO rules. 
41. Belize maintains three programmes that involve  duty and tax concessions.  These are defined 
in the Fiscal Incentive Act, the Export Processing Zone Act and the Commercial Free Zone Act.  
These programmes have as their ultimate objective, promoting investment to increase production of 
non-traditional crops and value-added products, to improve the manufacturing and processing 
activities and to create employment for Belizeans.  These programmes have contributed substantially 
to the economic growth of the country and are par tly responsible for successful development of the 
service sector. 
VI. REGIONAL DEVELOPMENTS 
42. Belize became a full member of the Caribbean Community and Common Market on 
1 May 1974, and as a result, Belize’s trade policies have been influenced by the provisions of the 
Treaty of Chaguaramas [Revised].  In 1989, th e CARICOM Conference of Heads of Government 
agreed to establish the Caricom Single Market and Economy.  In 2001, the Treaty of Chaguaramas WT/TPR/G/134 Trade Policy Review 
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was revised to further consolidate that initiative by broadening and deepening the integration of 
CARICOM member states. 
43. Within CARICOM, Belize is listed as a Le ss Developed Country (LDC) and has been 
designated as one of the disadvantaged countries in  the Community.  Belize’s main benefits obtained 
from this designation are the ability to protect sens itive and vulnerable industries while also receiving 
financial and technical assistance to address development needs. 
44. During the last decade or so, CARICOM Member States signed a number of non-reciprocal 
and reciprocal trade agreements with some Caribbean and Latin Amer ican countries namely, 
Colombia, Costa Rica, Cuba, Dominican Republic and Venezuela.  In all these agreements, Belize, as 
an LDC does not grant market concessions while  the More Developed Countries of CARICOM are 
expected to do so. 
VII. INTERNATIONAL TRADE NEGOTIATIONS 
45. Belize is currently engaged in trade negotiations in  a number of internationa l fora.  It is one of 
the 34 countries seeking to create the Free Trade Areas of the Americas (FTAA) by 2005.  As part of 
the African, Caribbean and Pacific Group of c ountries (ACP), Belize participated in the 
commencement of formal negotiations between the ACP and the EU for the establishment of a new 
trade and economic partnership with the Europe Unio n to be effective 1 January 2008.  Belize is also 
involved in multilateral negotiations in the WTO in  the context of the Doha Development Agenda. 
46. The conclusion of all these negotiations will have a significant impact on Belize’s trading 
relations.  First, the new trade arrangements will increase competition for the relatively small firms 
which specialize in non-tradable goods and services.   Secondly, the arrangements, while promising 
greater export opportunities for Belize, will erode th e preferential market access now enjoyed by 
Belize under the CBI, CARIBCAN, Cotonou, and GSP arrangements.  This will undoubtedly increase 
competition in those markets.  More fundamentally, the advantages which Belize currently enjoys as a 
member of CARICOM will also be eroded as a resu lt of the new negotiated arrangements. Initial trade 
negotiations have indicated that our major tradi ng partners are requesting reciprocity.  However, 
asymmetric differences must be factored into an y trade agreement; reciprocity and non-discrimination 
principles must be linked to a country’s economic capacity. 
47. Given the looming threat of marginalization, Belize has in all negotiating fora, joined other 
small developing economies in demanding special an d differential treatment for small economies.  In 
this regard, the Doha Ministerial decision to est ablish a Work Programme on the treatment of the 
small economies within the multilatera l trade context is appropriate.  The effective participation of 
these countries in the multilateral trading system should be a priority concern of the WTO. 
VIII.  CONCLUSION 
48. Belize remains firmly committed to the rules-based multilateral trading system and believes 
that it is in everyone’s interest for negotiati ons on the Doha Development Agenda to resume.  
However, Belize believes that the followi ng tenets should govern trade rules:5 
- Trade is a means to an end and not an end in itself; 
- Trade rules should allow for diversity in  national institutions and standards; 
                                                      
5 Malhotra K. et al (2003).  Making Global Trade Work for People, B. Ross-Larson  (Ed), UNDP, 
Earthscan Publications Ltd, London. Belize WT/TPR/G/134 
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- Countries should have the right to prot ect their institutions and development 
priorities; 
- No country has the right to impose its institutional preferences on others. 
49. Belize firmly believes that a human devel opment-oriented trade regime would give 
governments the space to design policies that embody these principles.  The regime would also help 
developing countries build their capacity to gain fro m trade.  Among the elements that such a regime 
would need to emphasize are regular human developm ent assessments of trade agreements and issues, 
policy space for the coexistence of diverse developm ent strategies and asymmetric rules for industrial 
and developing countries. 
50. Belize thus echoes the urgent challenge for po licy makers in both de veloping and industrial 
countries to ensure that the multilateral trade regime  allows people to fully benefit from the potential 
contribution that trade can make to human development. 
51. While recognizing that deeper integration in  the global economy can make developing 
countries more vulnerable to external shocks, and that  trade liberalization has resulted in deteriorating 
terms of trade and even immiserizing growth, it also  recognizes that trade can also increase people’s 
economic participation by providing jobs as well as access to credit and markets for goods.  To this 
end, Belize will continue to press for trade rules that are not only mercantilist in nature, but that 
regard real human development as a constant objective. 
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