RESTRICTED  
  
WT/TPR/S/353  
20 March 2017  
(17-1530) Page: 1/117 
Trade Policy Review Body   
 
TRADE POLICY REVIEW  
REPORT BY THE SECRET ARIAT  
BELIZE 
This report, prepared for the third Trade Policy Review of Belize, has been drawn up by the WTO 
Secretariat on its own responsibility. The Secretariat has, as required by the Agreement 
establishing the T rade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement 
Establishing the World Trade Organization), sought clarification from Belize on its trade policies 
and practices.  
 
Any technical questions arising from this report may be addressed to Mr. Joh n Finn (tel.: 022 739 
5081) , Ms Martha Lara Fernandez (tel.: 022 739 6033), and Ms Zheng Wang (tel.: 022 739 5288).  
 
Document WT/TPR/G/35 3 contains the policy statement submitted by Belize.  
 
 
Note: This report is subject to restricted c irculation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Belize. This report was drafted in 
English.  WT/TPR/S/ 353 • Belize  
 
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  CONTENTS  
SUMMARY  ................................ ................................ ................................ ........................  7 
1   ECONOMIC ENVIRONMENT  ................................ ................................ ........................  10 
1.1   Main Features of the Economy  ................................ ................................ ..................... 10 
1.2   Recent Econo mic Developments  ................................ ................................ ................... 11 
1.2.1    Introduction  ................................ ................................ ................................ ............ 11 
1.2.2    Fiscal policy  ................................ ................................ ................................ ............ 12 
1.2.3    Monetary policy  ................................ ................................ ................................ .......14 
1.2.4    Balance of payments  ................................ ................................ ................................ 16 
1.2.5    Structural policy  ................................ ................................ ................................ ......18 
1.3   Trade Performance  ................................ ................................ ................................ .....19 
1.3.1    Composition of merchandise trade  ................................ ................................ ............. 19 
1.3.2    Geographical distribu tion of merchandise trade  ................................ ........................... 20 
1.4   Foreign Direct Investment  ................................ ................................ ........................... 22 
2   TRADE AND INVESTMENT  REGIME  ................................ ................................ ............  23 
2.1   General Framework  ................................ ................................ ................................ ....23 
2.2   Trade Policy: Institutional Framework and Objectives  ................................ ...................... 24 
2.3   Trade Agreements and Arrangements  ................................ ................................ ........... 27 
2.3.1    WTO ................................ ................................ ................................ ...................... 27 
2.3.2    Regional and preferential agreements  ................................ ................................ ........ 29 
2.3.2.1    CARICOM  ................................ ................................ ................................ ............. 29 
2.3.2.2    EU–CARIFORUM Economic Partnership Agreement  ................................ .................... 30 
2.3.2.3    Trade relations with Central America  ................................ ................................ .......31 
2.3.2.4    Partial Scope Agreement with Guatemala  ................................ ................................ .31 
2.3.2.5    Other arrangements  ................................ ................................ .............................. 32 
2.3.2.6    Ongoing negotiations  ................................ ................................ ............................. 32 
2.4   Investment regime  ................................ ................................ ................................ .....32 
2.4.1    Foreign investment regulations  ................................ ................................ .................. 32 
2.4.2    Setting up a business  ................................ ................................ ............................... 35 
2.4.3    Ease of doing business  ................................ ................................ ............................. 36 
3   TRADE POLICIES AND P RACTICES BY MEASURE  ................................ ........................  38 
3.1   Measures Directly Affecting Imports  ................................ ................................ .............. 38 
3.1.1    Customs procedures, valuation and rules of origin  ................................ ....................... 38 
3.1.2    Tariffs  ................................ ................................ ................................ .................... 40 
3.1.2.1    Applied tariffs  ................................ ................................ ................................ .......41 
3.1.2.2    Tariff bindings  ................................ ................................ ................................ ......43 
3.1.2.3    Customs duty exemptions  ................................ ................................ ...................... 44 
3.1.2.4    Prefere ntial tariffs  ................................ ................................ ................................ .45 
3.1.3    Other duties and charges  ................................ ................................ .......................... 45 
3.1.4    Import prohibitions, restrictions, and licensing  ................................ ............................ 47 WT/TPR/S/ 353 • Belize  
 
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  3.1.5    Contingency measures  ................................ ................................ ............................. 52 
3.1.6    Standards and other technical requirements  ................................ ............................... 52 
3.1.7    Sanitary and phytosanitary requirements  ................................ ................................ ....56 
3.2   Measures Directly Affecting Exports  ................................ ................................ .............. 58 
3.2.1    Export procedures  and requirements  ................................ ................................ .......... 58 
3.2.2    Export duties, charges, and levies  ................................ ................................ .............. 58 
3.2.3    Export prohibitions, restrictions, and licensing  ................................ ............................. 58 
3.2.4    Duty and tax concessions  ................................ ................................ ......................... 59 
3.2.4.1    Export Processing Zones Programme  ................................ ................................ .......59 
3.2.4.2    Free Zones Programme  ................................ ................................ .......................... 60 
3.2.4.3    Fiscal incentives  ................................ ................................ ................................ ....61 
3.2.5    Export support and promotion  ................................ ................................ ................... 61 
3.3   Measures Affecting Production and Trade  ................................ ................................ .......61 
3.3.1    Tax and incentives  ................................ ................................ ................................ ...61 
3.3.1.1    Tax ................................ ................................ ................................ ..................... 61 
3.3.1.1.1    General sales tax  ................................ ................................ ............................... 61 
3.3.1.1.2    Excise duties  ................................ ................................ ................................ .....63 
3.3.1.1.3    Income tax, and others  ................................ ................................ ....................... 63 
3.3.1.2    Other incentives  ................................ ................................ ................................ ...64 
3.3.2    Competition policy and pric e controls  ................................ ................................ ......... 64 
3.3.2.1    Competition policy  ................................ ................................ ................................ 64 
3.3.2.2    Price controls ................................ ................................ ................................ ........ 65 
3.3.3    State trading, state -owned enterprises, privatization, and support to SMEs  ..................... 66 
3.3.4    Government procurement  ................................ ................................ ......................... 67 
3.3.5    Intellectual property rights  ................................ ................................ ........................ 69 
4   TRADE POLICIES BY SE CTOR  ................................ ................................ .....................  72 
4.1   Agriculture  ................................ ................................ ................................ ................. 72 
4.1.1    Trade  ................................ ................................ ................................ ..................... 73 
4.1.2    Agricultural policies  ................................ ................................ ................................ ..75 
4.2   Fisheries  ................................ ................................ ................................ .................... 78 
4.3   Mining and minerals  ................................ ................................ ................................ ....81 
4.4   Services  ................................ ................................ ................................ .................... 83 
4.4.1    Overview and multilateral commitments  ................................ ................................ .....83 
4.4.2    Banking and insurance services  ................................ ................................ ................. 84 
4.4.2.1    Main features  ................................ ................................ ................................ .......84 
4.4.2.2    Banking  ................................ ................................ ................................ ............... 85 
4.4.2.2.1    Domestic banks  ................................ ................................ ................................ .85 
4.4.2.2.2    International banks  ................................ ................................ ............................ 87 
4.4.2.3    Credit unions  ................................ ................................ ................................ ........ 88 
4.4.2.4    Insurance  ................................ ................................ ................................ ............ 89 WT/TPR/S/ 353 • Belize  
 
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  4.4.3    Telecommunications  ................................ ................................ ................................ .90 
4.4.3.1    Main features  ................................ ................................ ................................ .......90 
4.4.3.2    Institutional and regulatory framework  ................................ ................................ ....91 
4.4.4   Transport  ................................ ................................ ................................ ................ 93 
4.4.4.1    Air transport and airports  ................................ ................................ ....................... 93 
4.4.4.1.1    Main features  ................................ ................................ ................................ .....93 
4.4.4.1.2    Institutional and regulatory framework  ................................ ................................ .94 
4.4.4.2    Maritime transport and ports  ................................ ................................ .................. 95 
4.4.4.2. 1   Main features  ................................ ................................ ................................ .....95 
4.4.4.2.2    Institutional and regulatory framework  ................................ ................................ .98 
4.4.5    Tourism  ................................ ................................ ................................ .................. 99 
4.4.5.1    Main features  ................................ ................................ ................................ .......99 
4.4.5.2    Institutional and regulatory framework  ................................ ................................ .. 100 
5   APPENDIX TABLE S ................................ ................................ ................................ .. 103  
 
CHARTS  
 
Chart 1.1 Merchandise trade by main HS sections, 2010 and 2015  ................................ ........... 20 
Chart 1.2 Merchandise trade by main origin and destination, 2010 and 2015  ............................. 21 
Chart 3.1 Frequency distribution of MFN tariff rates, 2016  ................................ ....................... 42 
Chart 3.2 T ax revenue foregone ................................ ................................ ........................... 64 
Chart 4.1 Weighted average interest rates in Belize, January 2010 -May 2016  ............................ 87 
Chart 4.2 Time required for  port and terminal handling, 2015 ................................ .................. 97 
Chart 4.3 Cost of port and terminal handling, 2015  ................................ ................................ 98 
 
TABLES  
 
Table 1.1 Basic economic indicators, 2010 -15 ................................ ................................ ........ 12 
Table 1.2 Government revenue and expenditure by fiscal year, 2010/11 -2015/16  ..................... 13 
Table 1.3 Public sector external debt outstanding by source, 31 December 2010 -15 ................... 14 
Table 1.4 Main monetary indicators, 2010 -15 ................................ ................................ ........ 15 
Table 1.5 Balance of payments, 2010 -15 ................................ ................................ .............. 16 
Table 1.6 Foreign direct investment, 2010 -15 ................................ ................................ ........ 22 
Table 2.1 Trade technical team of Beli ze ................................ ................................ ............... 24 
Table 2.2 Main trade -related legislation, 2016  ................................ ................................ .......25 
Table 2.3 Notifications to the WTO, January 2009 -November 2016  ................................ ........... 28 
Table 2.4 Bilateral Investment Treaties, 2016  ................................ ................................ ........ 34 
Table 2.5 Key legal requirements to establish a business in Belize, 2016  ................................ ...35 
Table 2.6 Doing Business: rankings for Belize and selected countries, 2016  .............................. 36 
Table 2.7 Export and import time and cost in Belize, Latin America and the Caribbean, 
2016 37 WT/TPR/S/ 353 • Belize  
 
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  Table 2.8 Belize's Category A commitments under the Trade Facilitation Agreement ................... 37 
Table 3.1  Summary of procedures and documents for trading across borders, 2016  ................... 38 
Table 3.2 Belize's preferential rules of origin  ................................ ................................ .......... 40 
Table 3.3 Structure of the tariff schedule in Belize, 2016 ................................ ......................... 41 
Table 3.4 Summary analysis of MFN tariff, 2016  ................................ ................................ ....42 
Table 3.5 Tariff lin es for which MFN 2016 duties exceed bound duties  ................................ .......44 
Table 3.6 Analysis of preferential tariffs, 2016  ................................ ................................ .......45 
Table 3.7 Taxes and fees  collected at the border, fiscal year 2015 -16 ................................ .......47 
Table 3.8 Import prohibitions  ................................ ................................ .............................. 47 
Table 3.9 Goods requiring an import licence pr ior to importation  ................................ .............. 49 
Table 3.10 Import licensing  ................................ ................................ ................................ .51 
Table 3.11 Stages for the development and publication of technical regulati ons and 
standards  ................................ ................................ ................................ .......................... 53 
Table 3.12 Belize's technical regulations and standards  ................................ .......................... 54 
Table 3.13 Risk assessments completed 2010 -16 ................................ ................................ ...58 
Table 3.14 GST exempt and zero -rated items, 2016  ................................ ............................... 62 
Table 3.15 List of goods subject to price controls, 2016  ................................ .......................... 65 
Table 3.16 IPR  ................................ ................................ ................................ ................... 70 
Table 4.1 Contribution of agriculture to GDP, 2008 -14 ................................ ............................ 72 
Table 4.2 Agricultural production 2008 -15 ................................ ................................ ............. 73 
Table 4.3 Trade in agricultural goods, 2008 -15 ................................ ................................ ......74 
Table 4.4 Imports of bananas from Bel ize, 2008 -15 ................................ ............................... 74 
Table 4.5 Agriculture, forestry and fisheries expenditure, fiscal years 2012/13 -2015/16  ............. 77 
Table 4.6 Capture fis heries, 2007 -14 ................................ ................................ .................... 78 
Table 4.7 Aquaculture production, 2007 -14 ................................ ................................ ........... 79 
Table 4.8 Exports of fish and fish products, 2008 -15 ................................ .............................. 80 
Table 4.9 Exports and imports of mineral fuels, mineral oils, and products of their 
distillation, 2008 -15 ................................ ................................ ................................ ........... 82 
Table 4.10 Mining and quarr ying and petroleum contributions to government revenue, 
FY2011/12 to FY2015/16  ................................ ................................ ................................ ....83 
Table 4.11 Minimum capital and statutory deposit requirements for domestic insurers  ................ 89 
Table 4.12 Selected telecommunications indicators, 2009 -15 ................................ .................. 90 
Table 4.13 Belize ports, 2016  ................................ ................................ .............................. 96 
Table 4.14 Port of Belize Ltd.a and Port of Big Creek: consolidated annual ship calls and 
cargo throughput, 2010 -15 ................................ ................................ ................................ .96 
Table 4.15 Belize: Absolute and relative contribution of the tour ism sector, 2015 ....................... 99 
Table 4.16 Key tourism indicators 2010 -15 ................................ ................................ .........  100 
 WT/TPR/S/ 353 • Belize  
 
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  BOXES  
 
Box 2.1 Foreign Direct Investme nt reserved activities ................................ ............................. 33 
Box 3.1 Tendering procedures  ................................ ................................ ............................. 69 
Box 4.1  Main amendments in the Domestic Banks and Financial Institutio ns Act, 2012  ............... 86 
 
APPENDIX TABLES  
 
Table A1.1 Merchandise exports by HS sections and main chapters, 2010 -15 ..........................  103 
Table A1.2 Merchandise imports by HS sections and main HS chapters, 2010 –15 ....................  105 
Table A1.3 Merchandise exports by trading partner, 2010 –15 ................................ ................  107 
Table A1.4 Merchandise imports by trading partner, 2010 –15................................ ................  108 
 
Table A3.1 Items and rates of RRDs  ................................ ................................ ...................  109 
Table A3.2 Excise duties  ................................ ................................ ................................ ... 113 
 
Table A4.1 Institutional composition of the financial sector in Belize  ................................ ....... 117 WT/TPR/S/ 353 • Belize  
 
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  SUMMARY  
1. Belize is a small economy with the lowest population density in Central America (377,968 
people in 2016 in a total land area of 22,966 km2). It is an upper -middle -income country with GDP 
per capita at US$4,757 in 2015. Given its limited domes tic market, trade is particularly important 
for the economy (imports and exports combined am ounted to 129% of GDP in 2015).  
2. Belize's economy is vulnerable to internal and external shocks, including natural hazards and 
diseases affecting the agricultural an d aquaculture industries. As a result, GDP growth has been 
volatile – it rose from 0.7% in 2013 to 4.1% in 2014, and then fell to 2.9% in 2015 – reflecting a 
sharp drop in agricultural production and petroleum extraction and exports. The main driver of 
growth was the services sector, particularly the tourism sector, which is the biggest export and 
foreign exchange earner and a major source of employment. The Central Bank of Belize projected 
a contraction of real GDP by 2.4% in 2016.  
3. The current account defi cit widened significantly during the review period, reflecting mainly 
the notable expansion in the merchandise trade deficit, while the positive inflows from trade in 
services were insufficient to cover the shortfalls in the current account balance. Import s increased 
much faster than exports – more than doubling the trade -in-goods deficit . Low population density 
prevents scale economies, while poor infrastructure adds to the costs of transporting goods to the 
domestic and international markets. Belize's mai n export destination remains the United States, 
while the share of Europe went up during the review period. The United States is also the biggest 
source of Belize's imports.  
4. The Government's ability to address these challenges is constrained by, inter alia, high debt 
levels and limited fiscal space (external debt accounted for 67% of GDP while domestic debt was 
14% of GDP in 2015), the high cost of finance (the weighted average lending rate by commercial 
banks is 10%), and distortions in the trade and tax p olicy regimes. Large expenditure related to 
the nationalization of Belize Telemedia Limited (BTL) and Belize Electricity Limited (BEL) also 
increased Government expenditure. In addition, the legislative process has been slow and there 
have not been any maj or changes since the previous Review in 2010; the authorities expect that a 
number of new laws will be promulgated in 2017.  
5. Belize's involvement in the WTO is relatively limited. It does not have a representative in 
Geneva responsible for WTO affairs. Howe ver, Belize was among the first Members to ratify the 
WTO Trade Facilitation Agreement. It has submitted some notifications to the WTO but no 
notifications have ever been made in some areas such as agriculture (domestic support and export 
subsidies), gover nment procurement, import licensing, and state trading enterprises.  
6. Belize is a member of the Caribbean Community and Common Market (CARICOM), and 
applies the CARICOM common external tariff with several exceptions. CARICOM has signed 
bilateral trade agreem ents with five Latin American countries: Colombia, the Bolivarian Republic of 
Venezuela, Dominican Republic, Costa Rica, and Cuba, under which Belize is entitled to preferential 
duty-free treatment for goods on a non -reciprocal basis. However, only the agr eements with Costa 
Rica and Cuba have been ratified. Belize also has a partial scope agreement with Guatemala, and 
is engaged in negotiations for similar agreements with El Salvador and Mexico. It is also a member 
of the Central American Integration System  (SICA). Belize, through CARICOM, signed the 
European Partnership Agreement (EPA) which gives it quota -free and duty -free access to the EU.  
In addition, Belize has preferential access to the United States through the Caribbean Basin 
Initiative (CBI), to C anada under CARIBCAN, and qualifies for GSP treatment from a number of 
other countries.  
7. Since 2011, ASYCUDA World has been implemented throughout Belizean customs. Belize is 
developing, together with other CARICOM members, legislation on government procure ment, and 
competition policy. Currently there is no investment legislation or policy and no laws on 
contingency measures. Belize's foreign investment regime is generally open, with 100% foreign 
ownership permitted in most sectors.  
8. Since the previous revie w, Belize has adopted a number of changes to its trade policy. The 
number of products subject to import licences was halved in 2012, although this was followed by 
"tariffication" which resulted in some applied MFN tariffs exceeding their bound rates. In ad dition WT/TPR/S/ 353 • Belize  
 
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  to tariffs, revenue replacement duties (RRDs) and environmental taxes are applied to imports from 
non-CARICOM countries. From April 2016, RRDs have been collected on 109 items at the HS 8 -
digit level, including meats, flour, jam and jellies, fruit j uices, ice cream, water, beer and other 
fermented beverages, cigarettes, building blocks, jewellery, pearls, and aluminium structures. 
Most items carry ad valorem  RRDs, with rates ranging from 5% to 50%. Furthermore, the general 
sales tax (GST) is not appl ied equally to locally produced and imported goods.  
9. In 2016, Belize's tariff comprised 6,472 tariff lines at the HS eight -digit level. Most lines 
(99.3%) carry ad valorem  rates, with 17 rates applied (from zero to 100%), and the highest tariff 
rate increa se was from 70% in 2010 to 100% in 2016. Specific rates are applied on 0.7% of all 
tariff lines (total of 43 tariff lines), covering potatoes, onions, certain alcoholic beverages, tobacco 
products, fuels, ethyl alcohol, and food preparations. The simple av erage MFN tariff (excluding 
specific rates) went up from 11.6% in 2010 to 12.6% in 2016, partly attributed to the change in 
tariff nomenclature from HS2007 to HS2012, and partly because of the increase in the highest 
tariff rate from 70% to 100%. The avera ge applied tariff for agriculture (WTO definition) was 
23.3% (up from 20.5% in 2010), while that for non -agriculture products was 10.5% (up from 
9.9%). Belize bound 97.7% of its tariff lines (in HS2007 nomenclature), with a simple average 
binding rate at 5 8.5%.  
10. Belize provides three incentive programmes with export contingent requirements: the export 
processing zone programme, the free zone programme, and the fiscal incentive programme. 
Despite the decision by the General Council that export subsidies were to be removed by the end 
of 2015, Belize notified the WTO in October 2016 that it had not yet removed export contingent 
requirements from these programmes although it had set up an action plan and a working group 
to do so.  
11. Agriculture represents 10% of GDP , and agricultural products account for 40% of total 
merchandise exports. Agriculture faces a number of challenges: disease outbreaks have reduced 
production of citrus fruits, papaya, and shrimp; tropical storms caused wind and flood damage; 
and poor infra structure added to the cost and time of getting products to markets. Belize has been 
preparing a National Agricultural Policy 2015 -2030. Some policies also seem to have conflicting 
objectives, thus, while border measures are used to protect domestic produc ers from international 
competition and to raise domestic prices, the Government also applies price controls on some 
basic commodities.  
12. 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.  
13. Petroleum production, which is an important sector for the economy and a main contributor 
to government revenue, declined as reserves became depleted and world prices remained low. 
Crude oil is exported mainly to the United States for refining; exports have declined  over the past 
few years. Imports of petroleum oils have increased in general. The contribution to government 
revenue from royalties, production sharing, and other fees and duties from oil and minerals has 
declined significantly since fiscal year 2011/12 w hen it was over BZ$38 million to an estimated 
BZ$11 million in FY2015/16.  
14. Tourism is important to the economy, accounting for nearly 15% of GDP and over a third of 
total employment, and is the main foreign exchange earner. However, it faces several challen ges 
including insufficient international -standard tourism facilities, lack of technical and marketing skills, 
and poor land, air and sea connectivity. Encouraging overnight stays by cruise ship tourists would 
help increase tourist expenditure in the countr y. With the Belize Barrier Reef, many archeologically 
interesting sites, and large unspoilt land areas, there is considerable potential for further 
expansion in tourism.  
15. Belize's financial sector is characterized by a strong foreign presence and a distinct  
separation between domestic and international (offshore) financial institutions, each being subject 
to different laws and regulators. During the review period, important changes were made to the 
legislation on domestic banks in order to align it with inte rnational standards and best practices. 
The framework for anti -money laundering and combating the financing of terrorism (AML/CFT) was WT/TPR/S/ 353 • Belize  
 
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  also strengthened. Nonetheless, the loss of correspondent banking relationships by several local 
banks in recent times – due to the "de -risking" measures adopted by global banks to comply with 
AML/CFT regulations – has resulted in a significant increase in transaction costs in Belize and a 
winding down of deposits in international banks.  
16. In the telecommunications sector, com petition is still incipient and prices remain high by 
regional standards, adding to the costs of doing business. A positive development for the sector 
was, however, the establishment of Belize's first Internet Exchange Point (IXP) in April 2016, 
which is e xpected to reduce the cost of local Internet traffic. Improving the country's transport 
infrastructure, particularly the road network and ports, and establishing direct air links with 
European and other countries, would help reduce trading costs and delays , improve connectivity 
and help boost the tourism industry.  
17. During the period under review, Belize was hit by several shocks which have affected the 
economy generally and agriculture and fisheries in particular. In addition, the lack of institutional 
resources and the slow pace of domestic reform may have hampered the economy's ability to 
adjust to such shocks. The small size of the country and poor infrastructure have also contributed 
to the weak economic and trade performance. On the other hand, the grow th in tourism has 
benefitted the country. Furthermore, with a low population density, agriculture has considerable 
potential and Belize has had some success both in maintaining production and exports of sugar 
and bananas and in developing new products.  
 WT/TPR/S/ 353 • Belize  
 
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  1  ECONOMIC ENVIRONMENT  
1.1  Main Features of the Economy  
1.1.  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 th e country's tourism and agricultural sectors, and it has an advantageous 
geographical proximity to major markets. Trade is of particular importan ce to this relatively open 
economy with a limited domestic market. In 201 5, trade (exports and imports of goods  and 
services) accounted for 12 9% 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 expos ed 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 201 3 to a high of  
4.1% in 201 4, and fa lling again to 2.9% in 2015.  
1.2.  The services sector remains the largest  sector in the economy, contributing more than 60% 
to GDP (Table 1.1) . Wholesale and retail trade, transportation and communications, and general 
government services are the biggest subsec tors. Secondary industries represent  the second -
largest  share (1 3.7%), followed by primary industries (1 2.9%). Tourism is of growing importance: 
according to the World Travel and Tourism Council, the travel and tourism industry directly 
contributed 15% to GDP in 2014, while its total contribution to the economy was 39% 
(Section  4.4.5).1 It is the biggest export and foreign exchange earner in Belize, and a major 
employer: according to the International Labour Organization (ILO), tourism generated 11% of 
total employment directly, and 28% indirectly. While tourism exports accounted for 35% of 
exports of goods and services, agriculture continues to be the mainstay o f Belize's exports 
(Section 4.1).  
1.3.  Belize has the lowest population density in Central America: in  2016, 377,968 people 
inhabited  an area of 22,966 square kilometres.2 Low population density prevents agglomeration 
and scale economies, while poor infrastructure adds to the problem s faced  transporting goods to 
the domestic and international markets. Port s are constrained by, inter alia , poor physical 
infrastructure in the form of piers and cranes, lack of cold storage capacity, and operational 
inefficiencies. Air transport infrastructure is less of a concern, but adherence to international 
standards in mu nicipal airports and domestic air travel would benefit the overnight tourism 
sector.3 Despite significant public investment in the transport sector over the last two decades, 
only 20% of the road network is paved, and access to some key tourist destination s is hampered 
by very poor road conditions.  
1.4.  Belize has a relatively young population: about 46% of its population are under 20 years 
old4, and its population growth rate (1.87% in 2015) was one of the highest in the region.  The 
unemployment rate remained at double digits from 2010 to 2015, while urbanization went down  
from 45% in 2010 to 44% in 2015, much lower than the Central American, Latin American, and 
the Caribbean averages (between 70% and 80%).5 One possible reason is the limited capacity for 
cities to absorb population  growth . Since the last review, no new poverty assessment s have been 
conducted. In 2010 (the latest year for which data were available), 41% of the population lived 
                                                
1 World Travel and Tourism Council, Travel & Tourism. Economic Impact 2015. Belize . Viewed at: 
https://www.wttc.org/ -/media/files/reports/economic%20impact%20research/countries%202015/Belize 
2015.pdf  [18/10/16].  
2 Statistical Institute of Belize (SIB) online in formation. Viewed at: http://www.sib.org.bz/statistics/ 
population  [04/10/16].  
3 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [04/10/16].  
4 SIB online information. Viewed at: http://www.si b.org.bz/statistics/population  [04/10/16].  
5 UN DESA (2015), World Urbanization Prospects 2014 . Viewed at: https://esa.un.org/unpd/wup/ 
Publications/Files/WUP2014 -Report.pdf  [04/10/16]; and UN DESA online information. Viewed at: 
https://esa.un.org/unpd/wup/Country -Profiles/  [04/10/16].  WT/TPR/S/ 353 • Belize  
 
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  below the poverty line, far from the Belize Millennium Development Go als (16.8% targeted for 
2015).6 
1.2  Recent Economic Developments  
1.2.1   Introduction  
1.5.  The GDP growth rate in Belize has been rather volatile, averaging 2. 8% annually between 
2010 and 2015 (Table 1.1). It fell from 4.1% in 2014 to 2.9% in 2015, due mainly to: contracti ons 
in value  added in the primary sector, reflecting a sharp drop in farmed shrimp output and 
reductions in major export crops (sugar cane, banana, papaya, and rice), as well as declines in 
petroleum extraction. Electricity generation increased, contributi ng to an output increase in the 
secondary sector. The main driver of growth was the services sector, underpinned by an expansion 
in government services as well as activities in distribution, tourism and transportation. Benefiting 
from an active services se ctor, the average unemployment rate fell from 23 .3% in 2010 to 10.1% 
in 2015, and to 8% in April 2016, the first single digit recorded in almost a decade.  
1.6.  Inflation remained low in Belize, caused mainly by the decline in oil and other commodity 
prices. The  effective exchange rate appreciated sharply in 2015, driven mostly by the 
strengthening of the U.S. dollar to which the Belizean currency is pegged, which further reduced 
the competitiveness of the Belizean export sector, particularly services ( Section 1. 2.3). Export 
declines led to a widened current account deficit ( Section 1.2.4).  
1.7.  In 2012, the passage of Hurricane Ernesto affected the northern part of the country, and 
caused an estimated damage of BZ$763,000 to the agriculture sector. In August 2016, Hur ricane 
Earl caused much greater  damage , estimated at BZ$183.6  million.7 Disease outbreaks have 
reduced the production of major agricultural products such as citrus fruits, papaya, and shrimp 
(Section 4.1).  
1.8.  Another shock was triggered by the "de-risking" of  Belize by global banks leading to the loss 
of the correspondent banking relationships for most banks in Belize. This has led to a significant 
increase in transactions costs and a winding down of deposits in international banks  
(Section  4.4.2). 
1.9.  The Governm ent's ability to address the challenges to its economy is constrained by, 
inter alia, high debt levels and limited fiscal space8, distortions in the trade and tax policy regime, 
and the high cost of finance9 (Sections 1.2.2  and 1.2.5). Its policy tools wer e further limited by the 
nationalization of two companies and the consequent large fiscal expenditure. In 2009 and 2011, 
the Government decided to nationalize and acquire majority shareholdings in Belize Telemedia 
Limited (BTL) and Belize Electricity Limit ed (BEL). After years of negotiation, the Government 
reached a settlement in 2014/15 with the former owners of BEL and BTL for the majority shares in 
these utilities.10 Related expenditures had a prominent impact on the fiscal developments, and the 
country' s balance of payments ( Sections 1.2.2, 1.2.3, and 1.2.4).  
                                                
6 UNDP, Millennium Development Goals Report and Post 2015 Agenda: Belize 2013 . Viewed at: 
http://www.undp.org/content/undp/en/home/librarypage/mdg/mdg -reports/lac -collection.html  [03/10/16].  
The poverty line  for the popul ation is defined as an annual income of BZ$3,400 (US$1,700 ). (Belize Country 
Poverty Assessment Report August 2010 . Viewed at: http://www.caribank.org/uploads/2012/12/ Belize -2009-
exec-sum.pdf  [07/10/16]).  
7 Amandala , "$183.6 mil in losses due to Hurricane Earl", 31 August 2016 . Viewed at: 
http://amandala.com.bz/news/183 -6-mil-losses -due-hurricane -earl/ [06/10/16].  
8 World Bank (2011), Country Partnership Strategy (FY2012 -FY2015) for Belize . Viewed at: 
http://documents.worldbank. org/curated/en/547861468201280860/Belize -Country -partnership -strategy -for-
FY2012 -FY2015  [05/10/16].  
9 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [04/10/16].  
10 Ministry of Finance (2016), Budget Speech for Fiscal Year 2016/2017 . Viewed at: http://cdn.gov.bz/ 
belize.gov.bz/files/Budget%20Speech%202016%20 -
%20Statement%20and%20Economic%20Review%20FINAL.pdf  [19/10/16].  WT/TPR/S/ 353 • Belize  
 
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  Table 1.1 Basic economic indicators, 2010 -15 
 2010  2011  2012  2013  2014  2015a 
GDP       
Current GDP (BZ$ million)  2,794  2,974 3,148 3,227 3,413 3,485 
Current GDP (US$ million)  1,397  1,487  1,574  1,614 1,706 1,743 
Per capita GDP (US$)  4,326  4,470  4,644  4,639 4,781 4,757 
GDP at 2000 constant prices (BZ$ million)  2,451  2,502  2,596  2,615 2,722 2,800 
Real GDP growth rate (%)  3.3 2.1 3.7 0.7 4.1 2.9 
GDP b y activity (% of current GDP)        
Primary industries  12.0 11.9 13.5 13.9 13.9 12.9 
Agriculture and forestry  9.2 9.7 11.0 10.3 10.4 10.2 
Fishing  2.3 1.8 2.1 3.1 3.0 2.3 
Mining and quarrying  0.5 0.5 0.5 0.5 0.4 0.4 
Secondary industries  18.4 19.2 17.1 16.1 15.7 13.7 
Manufacturing  12.2 13.5 12.0 10.0 8.6 6.9 
Electricity and water supply  3.5 3.2 2.2 3.3 3.9 3.3 
Construction  2.6 2.6 2.8 2.8 3.2 3.5 
Tertiary industries  60.8 60.0 60.3 60.1 60.0 60.7 
Wholesale and retail trade and repairs  14.6 14.5 14.7 15.5 15.1 15.5 
Hotels and restaurants  4.0 4.2 4.4 4.8 5.2 5.2 
Transportation and communication  11.0 10.6 10.9 10.4 10.1 9.5 
Financial intermediation  7.4 7.4 7.5 6.7 6.6 6.6 
Real estate, renting and business services  6.3 6.1 6.0 6.0 6.1 5.8 
Community, social and personal services  7.0 6.8 6.6 6.6 6.6 6.8 
General government services  10.6 10.4 10.2 10.2 10.3 11.1 
Taxes less subsidies on products  13.1 12.8 12.9 13.8 14.0 15.9 
Real GDP by expenditure (BZ$ million at 2000 prices)      
Public consumption  340 335 349 352 371 395 
Private consumption  1,593  1,668  1,726  1,808 1,820 1,893  
Gross fixed capital formation  321 319 349 409 470 538 
Changes in inventories including discrepancy  -59 44 -4 7 41 39 
Exports: Goods and services  1,528  1,535  1,668  1,664  1,708 1,788  
Imports: Goods and services  1,246  1,392  1,455  1,595  1,687  1,828 
Statistical discrepancy  -25 -6 -37 -30 0 -24 
Memo items        
Population (thousands)  323.0  332.7  338.9  347.8  356.9  366.3  
Unemployment rate as at April (%)  23.3 .. 14.4 11.7 11.1 10.1 
Gross international reserves by the Central Bank (US$ 
million)  218 236 291 405 487 437 
Disbursed outstanding external debt (US$ million)  1,013  1,022  1,014  1,083  1,126  1,176  
Disbursed outstanding external debt (% of GDP)  72.5 68.7 64.4 67.1 66.0 67.5 
External debt service payments (US$ million)  77 81 80 81 76 125 
Disbursed outstanding domestic  debt (BZ$ million)  368 381 390 386 376 494 
Disbursed outstanding domestic  debt (US$ million)  184 191 195 193 188 247 
.. Not available.  
a Provisional data.  
Source: Central Bank of Belize online information.  
1.2.2   Fiscal policy  
1.10.   The Government maintained an expansionary fiscal policy from 2013/14, and the fiscal 
deficit reached its highest point in 2014/15 (BZ$141 million) (Table 1.2). The c urrent balance 
remained in s urplus as current expenditure was lower than current revenue. Current revenue 
continued to depend on tax revenue, which accounted for around 88% of current revenue. Among 
the non -tax revenues, royalties from petroleum income went down significantly, from WT/TPR/S/ 353 • Belize  
 
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  BZ$18 million in 2010 /11 to BZ$4.4 million in 2015 /16. During the same period, capital 
expenditure remained much higher than capital revenue.  
Table 1.2 Government revenue and expenditure by fiscal year, 2010 /11-2015/16 
(BZ$ million)  
 2010/11  2011/12  2012/13  2013/14  2014/15  2015/16  
Total revenues and 
grants  811.6  835.7  846.3  871.7  959.4  980.3  
Current revenue  784.3  794.7  820.3  825.6  912.4  934.9  
  Tax revenue  703.5  669.9  704.3  727.0  804.7  818.1  
    Income and p rofits 247.5  237.0  233.1  233.8  264.8  261.9  
    Taxes on property  7.0 6.7 4.9 7.2 5.2 5.3 
    Taxes on international 
trade and transactions  175.8  196.0  188.8  203.5  204.5  211.8  
    Taxes on goods and 
services  273.1  230.3  277.6  282.6  330.2  339.1  
  Non-tax revenue  80.8 124.8  115.9  98.6 107.7  116.8  
    Property income  6.9 24.1 5.7 6.9 14.5 19.5 
    Licences  11.8 12.6 21.3 15.8 11.9 12.3 
    Royalties  30.6 35.4 27.3 30.3 48.0 44.9 
      Royalties from 
petroleum income  18.0 21.0 14.6 12.3 10.7 4.4 
    Ministries revenue  26.1 41.5 34.0 36.1 32.2 32.0 
    Repayment of loans  5.4 11.3 27.7 9.4 1.1 8.1 
Capital revenue  4.8 7.8 4.6 5.1 4.7 4.8 
Grants  22.5 33.1 21.3 41.1 142.3  40.6 
Current expenditure  721.6  724.5  706.7  778.0  842.2  873.5  
  Personal emoluments  291.2  296.4  298.2  313.2  348.0  367.8  
  Pensions and ex  gratia  
payments  50.4 51.6 54.5 55.2 63.0 59.7 
  Goods and services  261.2  171.8  165.7  181.0  191.6  210.8  
  Subsidies and current 
transfers  0.0 104.6  130.6  132.0  148.3  144.3  
  Debt service -interest and  
other charges  118.8  100.0  57.7 96.5 91.4 91.0 
Capital expenditure  154.7  142.9  144.1  156.3  258.6  194.7  
  Capital II – Local sources  65.2 72.8 66.3 67.2 113.0  97.8 
  Capital III – Foreign 
sources  83.0 65.3 74.5 86.0 142.9  94.4 
  Capital transfers and ne t 
lending  6.5 4.8 3.3 3.1 2.7 2.6 
Current balance:  
current revenue -  
current expenditure  62.7 70.2 113.6  47.6 70.1 61.4 
Primary balance  54.0 68.3 53.2 33.9 -50.1 2.9 
Overall balance  -64.7 -31.7 -4.6 -62.6 -141.5  -88.0 
Amortization  -63.0 -56.2 -61.2 -64.5 -65.9 -86.0 
Financing  -127.7  -88.0 -65.8 -127.1  -207.4  -174.0  
Source:  Ministry of Finance, Approved Estimates of Revenue and Expenditure various issues.  
1.11.   Belize's tax base has remained the same since the previous Review, and the Government 
has not en acted any new sources of revenue. There were some modifications to the tax structure:  
the goods and services tax (GST) was removed on some processed food items and ramen, the 
revenue replacement duties (RRDs) were removed on goods originating in CARICOM co untries and 
on goods produced locally, the scope of goods subject to excise duties was enlarged, and the 
income tax on profits accrued from petrol was increased ( Section 3.3 .1). The IMF estimated that 
the fuel tax increase is expected to raise revenues by close to 1.5% of GDP.11 Tax revenue in 2015 
                                                
11 IMF (2016), Belize 2016 Article IV Consultation . Viewed at: https://www.imf.org/external/pubs/ft/scr/ 
2016/cr16334.pdf  [15/1/16].  WT/TPR/S/ 353 • Belize  
 
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  continued to depend on taxes from the sale of goods and services (41%), income and profits 
(32%), and international trade and transactions (26%).  
1.12.   Grants, an important source of government revenue, more than triple d in 2014/15 
(BZ$142.3 million) from the previous year, reflecting the grant received from the E uropean Union 
and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, which was not 
repeated in 2015.  
1.13.   As the tax burden is already relatively hi gh for Belize's level of income (24% of GDP in 
2015), the greatest contribution of tax policy reform to fiscal sustainability may be indirect, via 
increased economic growth. Maintaining fiscal stability thus implies the need to secure more 
efficient and ef fective public services and effective control over discretionary spending.12 
1.14.   Total expenditures reached their peak in 2014/15 due to the hike in capital expenditure. 
This was attributed to the payments towards outstanding liabilities arising through the 
Government's acquisition and nationalization of BEL and BTL.13 As this expenditure was only a 
one-off payment, the fiscal situation began to head  back to its normal track in 2015/16.  
1.15.   Belize's external debt remained high (6 7% of GDP in 2015, down from 72% in 20 10), which 
added to the challenge of maintaining fiscal sustainability (Table 1.3). Domestic debt reached 
BZ$494 million in 2015 (14% of GDP) (Table 1.1). Among the external debt, b onds accounted for 
less than half of the total debt (44% in 2015, down from  55% in 2010), while borrowings from 
bilateral sources increased (27% in 2015, up from 17% in 2010), and the share of borrowings 
from multilateral sources remained the same (around 28%).  
Table 1.3 Public secto r external debt outstanding by source, 31 December 2010 -15 
(BZ$ million)  
 2010  2011  2012  2013  2014  2015a 
Bilateral  348.5  347.1  341 482.6 568.2  640.8  
Bonds  1,112.3  1,100.1  1,085  1,053  1,053  1,053  
Commercial banks  0.8 10.6 6 3.2 0 0 
Multilateral  560.6  586.5 595 626.7 630.5  657.8  
Total  2,022.3  2,044.2  2,027  2,165.4  2,251.8  2,351.6  
a Provisional data.  
 
Source:  Central Bank of Belize, Annual Report, various issues.  
1.2.3   Monetary policy  
1.16.   The Central Bank of Belize (CBB), established as an autonomous institution, is responsible 
for monetary and exchange rate policy, regulated under the Central Bank of Belize Act and 
subsequent amendments (Chapter 262, 2011).14 In accordance with the Domestic Banks and 
Financial Institutions Act (DBFIA) (Chapter 263, 2000), the CBB i s also responsible for the 
supervision and regulation of domestic and international banks and credit unions.15 The most 
recent amendment to the DBFIA was in 2014, and it aimed at: prohibiting the issuance of  licences 
to shell banks16, removing reference to c urrency transactions reporting, and enhancing information 
gathering by the CBB.  
                                                
12 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [04/10/16].  
13 Central Bank of Belize (2016), Annual Report 2015 . Viewed at: https://www.centralbank.org.bz/docs/ 
default -source/rsh_4.2.4_annual -reports/cbb -2015-annual -report -final. df?sfvrsn=2  [10/10/2016].  
14 Central Bank of Belize Act  1982. Viewed at: https://www.centralbank.org.bz/ aws -regulations/central -
bank-act [12/10/16].  
15 Central Bank of Belize,  Domestic Banks and Financial Institutions (Amendment) Act, No. 5 of 2014 . 
Viewed at: https://www.centralbank.org.bz/docs/default -source/fss_2.2_bfia/domestic -banks -and-financial -
institutions -amendment -act-no-5.pdf?sfvrsn=2  [12/10/16] . 
16 A shell bank means a bank that (a) is incorporated and licensed in a country in which it has no 
physical presence involving meaningful decision -making and management; and (b) is not an affiliate of a 
 WT/TPR/S/ 353 • Belize  
 
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  1.17.   Another relevant piece of legislation is the Money Laundering and Terrorism (Prevention) 
Act, which was most recently amended in 2016.17 The amendments aimed to provide measures  to 
ensure compliance with international standards and obligations in relation to money laundering 
and terrorist financing, and to implement UN Security Council Resolutions. The Financial 
Intelligence Unit, set up under the Financial Intelligence Unit Act 2002, is in charge of investigating 
and prosecuting financial crimes such as money laundering, internet fraud, and pyramid schemes. 
Between 2010 and September 2016, 462 suspicious transaction reports were filed, 1,026 
international and 21 local investigati ons were conducted, 31 arrests were made , and one money 
laundering conviction was obtained . 
1.18.   Belize maintains its long -standing exchange rate peg to the U.S. dollar. The Central Bank 
Act fixes the exchange rate at two Belizean dollars to one U.S. dollar (BZ $2 per US$).18 The 
Central Bank's objectives remain: fostering monetary stability, especially as regards stability of the 
exchange rate, and promoting credit and exchange conditions conducive to the growth of the 
economy. The peg ensured relative stability in the price of foreign exchange, and contributed to 
the low inflation rates. The peg is backed by strong capital controls and a stock of foreign 
exchange reserves that increased more than threefold between the end of 2007 and mid -2013.19 
However, the real effective exchange rate appreciated sharply in 2015, driven mostly by the 
strengthening of the U.S. dollar to which the Belizean currency is pegged, thus reducing the 
competitiveness of the Belizean economy , particularly services (Table 1.4).20 
1.19.   As the excha nge rate is fixed, the Central Bank 's choice of monetary policy tools is limited. 
As regards  direct policy tools, the CBB does not set interest rate s levied by domestic banks except  
for the minimum interest rate payable on savings deposits.21 The minimum in terest rate on 
ordinary savings deposit s was reduced from 4.5% to 2.5%, and commercial banks were required 
to disclose annual nominal and effective interest rates on savings deposits ( Section 4 .4.2). The 
CBB more frequently  uses indirect policy tools such as the reserve requirements and , more 
recently, open market transactions. Commercial banks are required to maintain secondary 
reserves, which include cash and treasury bills, of 23% of average deposit liabilities. To encourage 
the development of the Govern ment's securities market, a securities requirement  was instituted on 
1 May 2010. In 2011, the CBB reduced the proportion of government treasury bills that 
commercial banks were required to hold as part of their securities requirement from 6.5% to 0.0% 
of average deposit liabilities ( Section 4 .4.2). 
Table 1.4 Main monetary indicators, 2010 -15 
 2010  2011  2012  2013  2014  2015a 
Money and credit (BZ$ million)        
Currency and demand deposits (M1)  708 839 1,103  1,122 1,314  1,529  
Quasi money (savings and time deposits)  1,377  1,362  1,341  1,355  1,358  1,346  
M2 money supply  2,085  2,201  2,444  2,477  2,672  2,874  
Annual change of money supply (%)  -0.4 5.6 11.0 1.4 7.9 7.6 
Ratio of M2 to GDP (%)  74.6 74.0 77.6 76.2 77.8 83.5 
Domestic credit  1,762  1,757  1,803  1,854  1,933  1,986  
   Public sector  9 9 17 24 18 11 
   Private sector  1,753  1,748  1,786  1,831  1,916  1,974  
                                                                                                                                                  
corporate body that (i) has a physical presence in a country that involves meaningful decision -making and 
management; (ii) is authorized to carry on banking business in that country; and (iii) is subject to effective 
consolidated s upervision in relation to its banking business, which extends to its affiliates.  
17 Money Laundering and Terrorism (Prevention) (Amendment) Act, 2016 . Viewed at: 
https://www.centralbank.org.bz/docs/default -source/fss_2.5_mltpa/money -laundering -and-terrorism -
_prevention_ -_amendment_ -act-2016.pdf?sfvrsn=2  [12/10/16] . 
18 Exchange Control Act. Viewed at: https://www.centralbank.org.bz/docs/default -
source/rsh_2.6_exchange -control -act/exchange -control -regulations -2003.pd f?sfvrsn=2  [12/10/16].  
19 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.asp x?docnum=38275821  [20/10/16].  
20 IMF press release No.  16/424, 26 September 2016. Viewed at: 
http://www.imf.org/en/News /Articles/2016/ 09/26/PR16424 -Belize -IMF-Executive -Board -Concludes -2016-
Article -IV-Consultation   [06/10/16].  
21 Central Bank of Belize online information. Viewed at: https://www.centralbank.org.bz/financial -
system/monetary -policy/monetary -policy -tools [13/10/16] . WT/TPR/S/ 353 • Belize  
 
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   2010  2011  2012  2013  2014  2015a 
Interest rates (weighted average)       
Deposit rate (annual average)  5.6 3.7 2.6 2.2 1.7 1.5 
Lending rate (annual average)  13.8 12.9 11.9 11.1 10.7 10.0 
Interest rate spread (weighted average)  8.2 9.2 9.4 9.0 8.9 8.6 
Inflation        
Consumer price index (average % change)  0.9 1.7 1.3 0.5 1.2 -0.9 
Exchange rate        
Exchange rate (BZ$ per US$)  2 2 2 2 2 2 
Real effective exchange rate index (annual % 
change)  1.4 -10.0 1.9 -1.2 0.7 8.5 
Terms of trade (annual % change)  2.2 2.7 -1.0 0.2 -0.1 -2.0 
a Provisional data.  
Source:  Central Bank of Belize online information ; IMF 2015 Belize Article IV Consultation ; and IMF 2016 
Belize Article IV Consultation.  
1.20.   The average deposit interest rate continued to drop during the review period, from 5.6% in 
2010 to 1.5% in 2015, as robust growth in deposit s outstripped a modest increase in private 
sector borrowing, which led to boosted banking liquidity. M2 grew by 7.6% in 2015, and accounted 
for 83.5% of GDP, risin g from 74.6% in 2010. Both government borrowing for fiscal expansion and 
the continued rise in bank liquidity were notable features of domestic monetary development s.22 
The Government needed to borrow to make compensation payments to the previous owners of 
BEL and BTL and for budget support ; at the same time , private sector lending increased , mainly in 
areas s uch as agriculture and tourism.  
1.21.   The inflation rate in Beliz e, mainly affected by import prices, remained low during the 
review period. The decline in oil and other commodity prices led to deflation in 2015. The inflation 
rate returned to positive in early 2016 owing to higher food prices and the increase in fuel t ax.23 
1.2.4   Balance of payments  
1.22.   The current account deficit widened during the review period, from 2.9% of GDP 
(US$40  million) in 2010 to 9.9%  of GDP (US$172 million) in 2015 (Table 1.5). This reflected 
mainly the notable expansion in the merchandise trade defici t, while the positive inflows from 
trade in services were insufficient to cover the shortfalls in the current account balance. The trade-
in-goods deficit more than doubled during the review period,  as imports increased much faster 
than exports. Regarding t rade in services, travel (i.e. tourism earnings) remained the biggest 
export earner, accounting for around 75% of total services export s and about 35% of total exports 
of goods and services.  
Table 1.5 Balance  of payments, 2010 -15 
(US$ million)  
 2010  2011  2012  2013  2014  2015a 
Current account  -40.1 -16.9 -19.4 -72.6 -127.8  -171.8  
Balance on goods and services  6.6 -2.4 25.0 -27.6 -64.0 -149.0  
Balance of goods  -168.9  -170.9  -196.6  -280.5  -349.6  -423.4  
  Goods e xports f.o.b.  478.4  603.7  621.6  608.1  589.2  537.9  
  Goods imports f.o.b.  647.2  774.6  818.1  888.6  938.8  961.3  
Balance of services  175.5  168.4  221.6  253.0  285.6  274.4  
Services credits  338.0  340.1  406.8  448.1  487.3  495.8  
  Transportation  19.3 22.1 22.4 23.1 25.2 25.0 
  Travelb 248.6  247.5  299.0  351.0  373.9  371.6  
                                                
22 Central Bank of Belize (2016), Annual Report 2015 . Viewed at: https://www.centralbank.org.bz/docs/ 
default -source/rsh_4.2.4_annual -reports/cbb -2015-annual -report -final.pdf?sfvrsn=2  [19/10/16].  
23 IMF press release No. 16/424, 26 September 2016. Viewed at: 
http://www.imf.org/en/News/Articles/2016/ 09/26/PR16424 -Belize -IMF-Executive -Board -Concludes -2016-
Article -IV-Consultation  [06/10 /16]. WT/TPR/S/ 353 • Belize  
 
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   2010  2011  2012  2013  2014  2015a 
  Other goods and services  41.6 41.4 50.2 47.5 59.0 71.6 
  Government goods and services  28.5 29.2 35.2 26.6 29.3 27.6 
Services debits  162.5  171.7  185.2  195.1  201.7  221.4  
  Transportation  57.8 71.0 70.6 59.6 67.8 70.1 
  Travel  36.7 33.8 36.9 40.2 40.1 47.3 
  Other goods and services  59.3 58.3 67.0 83.1 81.9 89.5 
  Government goods and services  8.8 8.8 10.7 12.4 12.0 14.5 
Primary income: credits  4.6 4.8 5.1 6.1 8.4 7.3 
Primary income: debit s 143.1  103.0  125.3  124.1  146.2  139.4  
Balance on goods, services and income  -131.9  -100.7  -95.1 -145.6  -201.8  -281.1  
Secondary  income: credit  115.1  107.4  103.2  104.4  106.6  109.9  
Secondary  income: debit  23.2 23.7 27.4 31.4 32.6 40.2 
Capital account  5.7 23.7 22.5 37.7 44.0 8.6 
  Credit  6.7 24.3 22.5 37.7 44.0 8.6 
  Debit  1.1 0.6 0.0 0.0 0.0 0.0 
Financial account  -27.2 -18.9 -61.8 -136.4  -174.7  -92.3 
  Direct investment abroad  1.1 0.7 0.9 0.7 2.8 0.5 
  Direct investment in Belize  97.2 95.4 189.2  92.3 152.8  64.6 
    Net direct  investment  -96.1 -94.7 -188.4  -91.6 -150.0  -64.2 
  Portfolio investment assets  2.2 7.1 0.2 0.0 0.0 0.0 
  Portfolio investment liabilities  -5.6 -6.1 -3.3 -15.9 0.0 0.0 
    Net portfolio investment  7.8 13.2 3.5 15.9 0.0 0.0 
  Other investment assets  13.1 23.6 43.3 -22.8 -9.4 10.0 
  Other investment liabilities  -48.0 -39.1 -79.8 38.0 15.4 38.1 
    Net other investment  61.1 62.6 123.1  -60.7 -24.7 -28.1 
Net errors and omissions  11.5 -7.6 -17.2 12.4 -9.1 20.8 
Reserve assets  4.3 18.1 47.8 113.9  81.8 -50.2 
Memorandum items        
Gross official international reserves (US$ million)c 218.0  236.1  291.5  405.1  486.8  436.7  
Import cover of reserves (months)  3.7 3.3 3.9 5.0 5.7 5.0 
Current account/GDP (%)  -2.9 -1.1 -1.2 -4.5 -7.4 -10.0 
Remittances (inflows)  76.1 73.0 73.6 72.0 78.0 82.4 
a Provisional data.  
b Tourism earnings were based on visitor expenditure surveys . 
c Reflect s usable reserves as defined by BPM5.  
 
Note:  Following guidance issued by the IMF, the methodology and classifi cations of the BOP and the 
international investment position statistics were changed from BPM5 to BPM6. One of the most 
prominent changes is that a net inflow in the financial account is represented with a minus sign in 
the BPM6, whereas it has a positive sign in the BPM5. (IMF  (2014) , BPM6 Compilation Guide . Viewed 
at: http://www.imf.org/external/pubs/ft/bop/2014/ pdf/guide.pdf  [19/10/2016]).  
 
Source:  Central Bank of Belize, Annual  Report various issues, and major economic indicators available online.  
1.23.   The capital account surplus decreased significantly in 2015, mainly attributed to the much 
lower grants received from foreign donors. At the same time, the surplus on the financial acc ount 
plummeted by 47.2% due to the settlement payments to the previous owners of BEL and BTL, the 
loan repayment to the British Caribbean Bank (BCB) and an increase in the commercial banks ' 
foreign deposits.24 Net direct foreign investment reached its peaks  in 2012 and 2014, and then 
more than halved in 2015. Remittances from abroad increased in 2014 and 2015, although the 
inward flow of remittances declined in the last quarter of 2015 due to the de -risking measures 
undertaken by international correspondent banks.25 
                                                
24 Central Bank of Belize(2016), Annual Report 2015 . Viewed at: https://www.centralbank.org.bz/docs/ 
default -source/r sh_4.2.4_annual -reports/cbb -2015-annual -report -final.pdf?sfvrsn=2  [19/10/16].  
25 Central Bank of Belize (2016),  Annual Report  2015. Viewed at: https://www.centralbank.org.bz/docs/ 
default -source/rsh_4.2.4_annual -reports/cbb -2015-annual -report -final.pdf?sfvrsn=2  [14/10/16].  WT/TPR/S/ 353 • Belize  
 
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  1.24.   Belize continued to build up its foreign reserves during the period under review. It reached a 
low point of 3.3 months of import cover in 2011, but improved to 5.7 months in 2014. In 2015, 
the gross international reserves were drawn down, mainly be cause of the one -off payments in 
September 2015 for outstanding liabilities related to the Government's nationalization of BTL and 
BEL. The aforementioned payments contributed to a dip in the official reserves, which at year -end 
covered approximately 5.0 m onths of merchandise imports.  
1.2.5   Structural policy  
1.25.   As a small country with a limited domestic market, Belize's economy is strongly dependent 
on trade. According to the Inter -American Development Bank  (IDB) , binding constraints on 
economic growth include disto rtions to producers and particularly exporters created by Belize's 
tariff and non -tariff barriers as well as its tax structures.26 
1.26.   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.27 Furthermore , trade taxes on imports include not only tariffs, 
but also an environmental tax, a revenue replacement duty, and other duties and charges. This 
may distort incentives for producers while raising costs for competitive or potentially competitive 
sectors, and obstruct Belize's export diversification efforts. For example, it was estimated that the 
combined impact of taxes on trade increased the cost of hotel renovation or expansion by 40%.28 
Furthermore, prices for food and food products remain higher than world levels, as import 
measures are used to protect domestic producers from competition and to raise domestic prices 
(Section 4.1.3). The Government  has to relieve consumers by zero -rating and exempting the 
goods and services tax (GST) on many items. According to the IDB, 44% of potential GST 
suppliers are zero -rated, costing the Government around 8% of GDP in foregone revenue on a 
gross basis.29 
1.27.   Non-tariff barriers include import licences, which are required for a long list of products and 
are subject to various different  pieces of  legislation ( Section 3.1). Licences are non -automatic in 
most cases, and the procedure to obtain them is not clear. The priv ate sector has indicated that 
these licensing requirements are burdensome and costly.30 
1.28.   All the tariff and non -tariff barriers, combined with Belize's poor port and road 
infrastructure, led to elevated costs to import and export. According to the World Bank  Doing 
Business Report, Belize was ranked 117th in 2016 among 189  of the world's  economies in terms of 
trading across borders. Trade barriers create incentives for traders to get around them by seeking 
duty and other tax exemptions and reductions through e xport processing zones, free zones, and 
fiscal incentive programmes, adding to the cost of tax administration ( Section 3.2).  
1.29.   Other constraints for economic growth lie mainly in the high cost of finance  (the weighted 
average lending rate by commercial banks  was 10%, while the weighted average deposit rate was 
1.5%, resulting in a spread of 8.6%) ( Section 4 .4.2). The Central Bank indicated that several 
structural reforms are being carried out, including the National Payments System project, which 
commenced in  October 2016; the legislation to support the modernization of this system is 
scheduled for its second parliamentary reading. An upgrade of the information technology 
infrastructure was completed in October 2015, while the enterprise business system projec t, which 
began  in 2014, is all but completed , except for the human resources module. The ec onomic data 
management project wa s scheduled to be rolled out in December 2016.  
                                                
26 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [17/10/16].  
27Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [17/10/16].  
28 Nuenninghoff S., Lemay M., Rogers C., and Martin D. (2015), Sustainable Tourism in Beliz e, January. 
Viewed at: https://publications.iadb.org/bitstream/handle/11319/6795/ENE_TN_Sustainable_Tourism_in_ 
Belize.pdf?sequenc e=1 [17/10/16].  
29 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnu m=38275821  [17/10/16].  
30 Monge E. (2013), Trade Policy Scope and Taxation in Belize Study , December, IDB. Viewed at: 
http://services.iadb.org/wmsfiles/products/Publication s/38368966.pdf  [05/10/16].  WT/TPR/S/ 353 • Belize  
 
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  1.30.   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. It is 
based on several pillars, including the penetrati on of  export markets, attracting foreign 
investment, conducting effective industrial policy, enhancing mar ket efficiency, alleviating 
infrastructur al bottlenecks, and alignment with WTO requirements ( Section 3.2.4). Major 
infrastructure projects envisaged include the construction of  new port facilities and upgrading of 
transport links. It also emphasize s the d evelopment of priority sectors (agriculture, agro -
processing, tourism and energy) and the diversification into new products and services. Given the 
limited fiscal space, implementation would hinge upon careful prioritizing and ensuring adequate 
financing.  
1.31.   The economic outlook is not bright: GDP is projected by the IMF to decline by 1.5% in 2016, 
due partly to the damage caused by hurricanes, and partly to declining productivity, 
competitiveness and public investment.31 Expansion in services is expected to be  offset by 
contractions in the primary and secondary sectors. Agricultural crop output is projected to shrink 
further due to declines in citrus, banana and papaya  production . The largest banana farm and the 
largest papaya farm were closed in October 2015 a nd August 2016, respectively, while the shrimp 
industry is recovering from the bacterial infection that temporarily halted operations in 2015. The 
decline in p etroleum extraction appears  to be continu ing, resulting in a marginal contraction in the 
secondar y sector. The outlook for the tourism sector is positive, as low oil prices are expected to 
boost disposable incomes in the major source countries. Fiscal and financing constraints tend to 
reduce public investment, which is needed for further development o f the economy.  As suggested 
in the previous Review, diversification of the economy would help to reduce dependence on a 
narrow range of exported commodities, but these efforts are limited by Belize's small population 
and limited domestic market. Therefore,  it is important for trade policy to play a greater  role as 
trade increases economies of scale. To tap the potential and accelerate economic growth, Belize 
will need to enact significant policy reforms to lessen impediments to trade and carefully prioritiz e 
public investments.32 
1.32.   According to the Central Bank, real GDP in 2016 is projected to contract by 2.4% ; while 
primary and secondary sectors both declined, growth in the tertiary sector decelerate d. However, 
the economy is  predicted  to rebound in 2017, and  real GDP is predicted to grow by 3.4%.  
1.3  Trade Performance  
1.3.1   Composition of merchandise trade  
1.33.   Trade data were provided by the Statistical Institute of Belize. During the review period, the 
total export value increased from US$305 million in 2010, to US$416 mi llion in 2013, and fell 
again to US$329 million in 2015 (Table A1.1). Exports remained concentrated in a narrow range of 
products, exported to a small number of countries (Chart 1.1). The share of agricultural goods 
continued to  increas e, while that of bot h merchandise goods and petroleum continued to fall. 
Prepared foodstuffs and beverages accounted for  the largest share : 41.1% in 2015, up from 26% 
in 2010. Vegetable products and live animals accounted for 21% and 1 3.6%, respectively , in 
2015. The share of  mineral products dropped significantly, from 3 5.7% in 2010 to 8 .2% in 2015, 
as reservoirs became depleted and prices remained low ( Section  4.3) 
1.34.   Imports grew much faster than exports. Total import value rose from US$702  million in 
2010 to US$1,030 million in 2015 (Table A1.2). Imports are much more broadly based than 
exports (Chart 1.1). Manufactures represented  a much larger  share than agricultural goods, with 
machinery and electrical equipment being the main import item (16.5% in 2015, up from 12% in 
2010). From 2010 to 2015, the share of prepared foodstuffs and beverages increased (from 8 .1% 
to 15%), as did the shares of vehicles and transport equipment (from 4.6% to 9 .1%) and textiles 
(from 1 .2% to 6.5%), while the share of mineral products fell from 17 .5% to 12 .5%. 
                                                
31 IMF press release No. 16/424, 26 September 2016. Viewed at: 
http://www.imf.org/en/News/Ar ticles/2016/ 09/26/PR16424 -Belize -IMF-Executive -Board -Concludes -2016-
Article -IV-Consultation  [06/10/16].  
32 Inter-American Development Bank (2013), IDB Country Strategy with Belize 2013 -2017, November. 
Viewed at: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=38275821  [17/10/16].  WT/TPR/S/ 353 • Belize  
 
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  Chart 1.1 Merchandise trade by main HS sections, 2010 and 2015  
Chart 1.1
Merchandise trade by main HS sections, 2010 and 2015
2010 2015
(a)    Exports
Total: US$305 million
(b)    Imports
Total: US$702 million. Total: US$1,030 million.
Source:   WTO Secretariat estimates based on data provided by the authorities.Total: US$329 millionOther
9.1%Live 
animals
8.7%Other
9.2%
Chemical 
products
8.2%
Base 
metals
6.4%Machinery & 
electrical 
equipment
4.6
Base 
metals
6.7%Mineral 
products
17.5%
Machniery & 
electrical 
equipment
12.0%Other
38.0%
Plastics
5.5%Chemical 
products
8.0%
Textiles
6.5%Machinery & 
electrical 
equipment
16.5%Other
20.1%Prepared 
foodstuffs; 
beverages
8.1%
Textiles
1.2%Mineral 
products
12.5%Prepared 
foodstuffs; 
beverages
15.0%Mineral 
products
35.7%Mineral products
8.2%Machinery & 
electrical 
equipment
0.9%
Chemical products
2.2%Live 
animals
13.6%
Chemical 
products
0.7%
Plastics
4.0%
Vehicles & 
transport 
equipment
4.6%Prepared foodstuffs; 
beverages
41.1%
Vehicles & 
transport 
equipment
9.1%Vegetable 
products
18.9%
Vegetable 
products
21.0%
Prepared 
foodstuffs; 
beverages
26.0%
 
Source:  WTO Secretariat estimates based on data provided by the authorities.  
1.3.2   Geographical distribution of merchandise trade  
1.35.   The mai n export destination remains the United States, although its share fell from 46.8% 
in 2010 to 40 .2% in 2015 (Chart 1.2 and Table A1.3). About two thirds of Belizean exports go to 
other countries in the region. The share of Europe went up, from 2 6.6% in 201 0 to 35 .3% in 2015.  WT/TPR/S/ 353 • Belize  
 
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  1.36.   The main sources of imports are other countries in the region. The United States is the 
single largest  source of imports, accounting for just over a third of imports (3 3.8%), followed by 
Mexico (10.6%), the Netherlands Antilles (8.8%), and Guatemala (7.4%). Outside the  America s, 
China is a major  source of imports (10 .1%), followed by Europe (7%) (Chart 1.2 and Table  A1.4).  
Chart 1.2 Merchandise trade by main origin and destination, 2010 and 2015  
Chart1.2
Merchandise trade by main origin ad destination, 2010 and 2015
2010 2015
(a)    Exports
Total: US$305 million
(b)    Imports
Total: US$702 million Total: US$1,030 million
Source:   WTO estimates based on data provided by the authorities.Total: US$329 millionTrinidad & 
Tobago
2.5%Others
0.7%
Mexico
2.9%Other 
Americas
14.8%
Mexico
9.9%Americas
61.4%
Mexico
4.6%Other 
Americas
8.9%Others
0.4%
Americas
69.4%
United 
States
34.4%
Other 
Americas
13.5%India
0.6%
Guatemala
7.8%China
10.6%Other 
Asia
4.2%Others
0.3%
United 
States
33.8%
Mexico
10.6%Other 
Americas
14.5%India
1.9%
China
10.1%Other 
Asia
5.1%Others
0.8%
Americas
79.3%Americas
75.2%Asia
15.4%Asia
17.1%
Neth. 
Antilles
8.8%Jamaica
3.6%
Neth. 
Antilles
13.7%United 
States
46.8%United 
States
40.2%
Guatemala
7.4%Jamaica
2.4%Europe
26.6%Asia
3.3%
Europe
35.3%Asia
2.9%
Europe
7.0%Europe
5.0%Trinidad & 
Tobago
4.1%
 
Source:  WTO estimates based on data provided by the authorities.  WT/TPR/S/ 353 • Belize  
 
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  1.4  Foreign Direct Investment  
1.37.   Based on data from UNCTAD, foreign direct investment (FDI) inflows varied during the 
review period and peaked at US$189 million in 2012 (Table 1.6). The inwar d FDI stock increas ed 
over the period , reaching US$2,055 million in 2015, up by 3.2% from 2014.  
Table 1.6 Foreign direct investment, 2010 -15 
(US$ million)  
 2010  2011  2012  2013  2014  2015  
FDI inflows  97.2 95.3 189.2  95.2 152.7 64.6 
% of gross fixed capital formation  45.5 41.8 74.8 32.8 45.2 17.2 
FDI outflows  1.1 0.6 0.9 0.7 2.2 0.5 
% of gross fixed capital formation  0.5 0.3 0.3 0.2 0.7 0.1 
FDI inward stock  1,461. 2 1,556.6  1,745.7 1,837.5 1,990.3 2,054.9 
% of GDP  104.6  104.7  110.9  113.9 116.6 117.9 
FDI outward stock  49.4 50.5 61.0 61.6 66.3 66.8 
% of GDP  3.5 3.4 3.9 3.8 3.9 3.8 
 
Source:  WTO estimates, based on data from UNCTAD Data Center, Foreign Direct Investment online 
information, and UNCTAD World In vestment Report 2016.  
1.38.   Data provided by the Central Bank indicate that the main destination of foreign investment 
was hotels and restaurant s, followed by construction, real estate activities, health and social work, 
and agriculture, hunting, forestry and fish ing. WT/TPR/S/ 353 • Belize  
 
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  2  TRADE AND INVESTMENT  REGIME  
2.1  General Framework  
2.1.  Belize attained its independence on 21 September 1981 and inherited the common law 
system from the United Kingdom. The country's supreme law is the Constitution which sets out the 
three branches of govern ment: the Legislat ure, the Executive and the Judiciary.1 
2.2.  Belize's current system is based on the British model  of parliamentary democracy. The 
legislative branch represents the National Assembly of Belize which has two legislative chambers: 
House of Repres entatives and Senate.  
2.3.  The House of Representatives presently consists of thirty -one members, who are elected by 
the populace in a general election that takes place every five years. The House of Representatives 
elects a member from among themselves or from  outside to preside as the speaker of the House.  
2.4.  The Senate is made up of twelve appointed members known as senators and one president. 
The Governor -General appoints six senators on the advice of the Prime Minister; three are 
appointed on the advice of the  leader of the opposition, one on the advice of the Belize Chamber of 
Commerce and Industry and the Belize Business Bureau, one on the advice of the National Trade 
Union Congress and Civil Society Steering Committee, and one on the advice of the Belize Cou ncil 
of Churches and Evangelical Association of Churches. The Senate is responsible for ratifying bills 
after they have been passed by the House of Representatives.  
2.5.  The executive authority of Belize is bestowed on Her Majesty Queen Elizabeth II. Her 
author ity is exercised through the Governor -General who is appointed by her and must be a 
Belizean. The Constitution of Belize confers powers on the Governor -General but requires that 
she/he "acts in accordance with the advice of the Cabinet" except where specif ically provided for in 
the Constitution or laws of Belize. The Governor -General has no fixed term but holds office "during 
Her Majesty's pleasure".2 The current Governor -General has served since 1993.  
2.6.  The Governor -General is responsible for appointing the Prime Minister, who is the leader of 
the political party that has the support of the majority in the House of Representatives and is the 
Head of Cabinet. On the advice of the Prime Minister, the Governor -General also appoints 
ministers from the National As sembly who form the Cabinet, which is the chief policy -making 
body. The last elections were held on 4 November 2015 re -electing the incumbent government.  
2.7.  The House of Representatives is responsib le for passing all legislation. The Senate has the 
authority to reject a bill that has been passed by the House. The bill must then be referred back to 
the House. If the bill is passed again, the House can present it to the Governor -General for his /her 
consent despite the Senate's disproval of the bill for a second time. 
2.8.  The judicial system is independent from the political sphere. The Supreme Court of Belize is 
established as the highest court in Belize.3 The administration of the Supreme Court of Belize is 
directed by the Chief Justice and the Registrar General. Cu rrently, the Supreme Court has eight 
other judges.4 The Court has unlimited original jurisdiction to hear and determine any civil or 
criminal proceedings under any law.  
2.9.  The Chief Justice is appointed by the Governor -General, acting in accordance with the a dvice 
of the Prime Minister, given after consultation with the leader of the opposition. The other judges 
are also appointed by the Governor -General, in accordance with the advice of the Judicial and 
Legal Service s Section of the Public Service Commission and with the Prime Minister, after 
consultation with the leader of the opposition. There are also magistrate's courts, referred to as 
                                                
1 Chapter 4 of the Laws of Belize, Part s V, VI, and VII.  Viewed at: http://www.belizelaw.org/web/e_ 
library/constitution.html . 
2 Chapter 4 of the Laws of Belize, section 30. Viewed at: http://www.belizelaw.org/web/e library/ 
constitution_04.html . 
3 Chapter 4 of the Laws of Belize, section s 94 and 95. Viewed at:  http://www.belizelaw.org/web/e 
_library/constitution_07.html . 
4 In Belize the other judges are called "Puisne Judg es". WT/TPR/S/ 353 • Belize  
 
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  the "lower courts", situated  in every district capital. In Belize City, there are four magistrate's 
courts, consisting of local magistrates.5 
2.10.   The Court of Appeal, established under section 94 of the Constitution of Belize, hears and 
determines appeals in civil and criminal matters .6 The Governor -General appoints the judges of the 
Court of Appeal in accordance with the advice of the Prime Minister and with the approval of the 
Senate. The Court of Appeal has four judges, including its president. The Constitution sets no fixed 
term of office for these judges, but it provides that their instruments of appointment stipulate the 
terms of office.  
2.11.   Before 1 June 2010, the regional appellate court was the Judicial Committee of the Privy 
Council in London. Under the Belize Constitution (Seventh Amendment) Act, 2010, appeal cases 
are now sent to the Caribbean Court of Justice (CCJ) located  in Trinidad and Tobago. To date, in 
addition to Belize, other CARICOM States that are members of the CCJ are Barbados, Dominica 
and Guyana.  
2.2  Trade Policy: Institutional Framework and Objectives  
2.12.   Trade policy in Belize is the responsibility of the Ministry o f Economic Development, 
Petroleum, Investment, Trade and Commerce (MEPITC)7 through the Directorate General for 
Foreign Trade (DGFT). DGFT works in coordination with 30 trade -related departments or agencies 
that form the Trade Technical Team (TTT) (Table 2 .1). 
Table 2.1 Trade technical team of Belize  
Directorate General for Foreign 
Trade  Customs and Excise Department  Department of Labour  
Investment Policy and 
Compliance Unit  Belize Trade and Investment  
Develop ment Services  Ministry of Transport and NEMO  
Central Bank of Belize  Department of Forestry  Public -Private Sector Dialogue  
Ministry of Finance  Belize Agricultural Health Authority  Department of Fisheries  
Ministry of Foreign Affairs  National Institute of  Culture and 
History  Ministry of Health  
Attorney General 's Ministry  Belize Bureau of Standards  Belize Coalition of Service 
Providers  
Ministry of Economic 
Development  Belize Intellectual Property Office  Department of Police  
Ministry of Agriculture  Belize  Tourism Board  University of Belize  
Ministry of Natural Resources  Office of the Supervisor of Insurance 
and Private Pension s Statistical Institute of Belize  
Ministry of Tourism and Civil 
Aviation  Department of the Environment  Department of Immigration  
Source:  Directorate General for Foreign Trade.  
2.13.   The TTT is an inter -ministerial body that gives technical advice to the Cabinet on trade -
related matters and on official national trade positions. Private sector representatives are invited 
to participate in me etings to provide input on the current state of play of business in the country. 
The Office of the Prime Minister has a unit responsible for public –private sector dialogue that 
liaises directly with the private sector. Civil society and the general public' s advice are also sought 
when particular productive sectors may be affected by trade agreements or the implementation of 
proposed trade policy measures. The TTT has two sub -committees for SPS/TBT and market access.  
2.14.   The Trade Negotiating Team (TNT) is forme d by representatives of different government 
departments, who are the principal negotiators on behalf of the Government of Belize. These 
                                                
5 Inferior Courts Act, Chapter 94 of the Laws of Belize (revised edition 2000), Section 3(1). Viewed at: 
file://client/G$/1270777962_Inferior_Courts_Act.pdf . 
6 Chapter 4 of the Laws o f Belize, section s 94, 95 and 100 . Viewed at : 
http://www.belizelaw.org/web/e_library/constitution.html . 
7 After the last general election on 4 November 2015, the ministry responsible for trade changed its 
name to the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce (MEPITC) . WT/TPR/S/ 353 • Belize  
 
- 25 - 
 
  representatives are appointed by the Chief Executive Officer (Chief Negotiator).8 The TNT is under 
the authority of the  DGFT wh ich executes the negotiating mandate.  
2.15.   In July 2016, Belize launched its first trade policy framework. The intention is to develop a 
policy to guide long -term planning and evaluation of implementation projects over the next ten 
years. This long -term plan has five objectives: (1) expand foreign trade for sustainable economic 
development; (2) develop human capital and foster an entrepreneurial spirit; (3) achieve higher 
standards of living for Belizeans; (4) develop efficient productive practices to bo ost international 
competitiveness; and (5) enhance trade relations with a focus on Latin America and the Caribbean.  
2.16.   The trade policy framework identifies four pillars to guide Belize's trade policy: institutional 
capacity, market access, supply capacity, a nd trade facilitation. The institutional capacity pillar 
addresses the need for a legal mandate to transform the DGFT into a department with its own 
technical and administrative mechanisms. Supply capacity focuses on building and enhancing the 
competitiven ess of the productive sector to expand Belize' s value chain through innovation and 
diversify the export basket. The market access pillar focuses on assessing the productive sector's 
capacity and identifying new markets for goods and services. Trade facilit ation has three focus 
areas: enhancing procedures and documentation for clearance and transit of goods; facilitating 
formal trade and payment flows; and improving transportation of goods to Central America 
through the region's International Transit of Good s (TIM) system.  
2.17.   The Directorate General for Foreign Trade coordinates with officials from other Ministries 
and agencies to set official positions on trade for Belize's participation in the WTO and in other 
trade negotiations. While the MEPITC has the lead role in developing trade policy, other 
government agencies are responsible for specific products and/or facets of trade.  
2.18.   For example, the Ministry of Agriculture and Fisheries is responsib le for the development of 
trade policy pertinent to agricultural and  fisheries products. The Belize Bureau of Standards (BBS) 
under MEPITC is responsible for import licences for non -agricultural goods. BBS also works closely 
with the Belize Agricultur al Health Authority (BAHA) , under the Ministry of Agriculture and 
Fisheri es, which is responsible for import licences for agricultural goods and sanitary and 
phytosanitary issues.  
2.19.   The Ministry of Finance and the Customs and Excise Department are responsible for setting 
and collecting taxes, import duties and the revenue replace ment duty. Since September 2012, 
Belize Customs and Excise Department has been  implementing the latest version of the Automated 
System for Customs Data (ASYCUDA World ). 
2.20.   The Investment Policy and Compliance Unit , under MEPITC , is in charge of policy 
formula tion for investment and gaming control.  
2.21.   The Central Bank of Belize regulates the national financial system, advises on balance -of-
payment issues and provides economic data in trade negotiations.  
2.22.   Belize does not have a dedicated law on foreign trade, rather  different facets and 
instruments of trade policy are governed by a range of specific and/or sectoral legislation. 
Table  2.2 lists some of the main trade and investment -related laws, without being exhaustive.  
Table 2.2 Main trade -related legislation, 2016  
Area  Legislation  
Agriculture  Sugar Industry Act 2001, Chapter 325  
 Banana Industry Act, Chapter 205, Revised Edition 2000  
Air Transport  Civil Aviation Act, Chapter 239, Revised Edition 2000  
Commerce  Income  and Business Tax Act 1998  
 Trade Licensing Act, Chapter 66, Revised Edition 2000  
 Incorporation of Company Companies Act , Chapter 250 , Revised Edition 2000  
 Business Names Act, Chapter 247, Revised Edition 2000  
                                                
8 The Chief Executive Officer is second in command after the Minister.  WT/TPR/S/ 353 • Belize  
 
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  Area  Legislation  
 Partnership Act, Chapter 259, Revised E dition 2000  
 Limited Liability Partnership Act, Chapter 258, Revised Edition 2000  
 Companies Act, Chapter 250, Revised Edition 2000  
 Belize Chamber of Commerce and Industry Act, Chapter 308, Revised Edition 
2000 
 Belize Business Bureau Act, Chapter 307 , Revised Edition 2000  
 Holidays Act, Chapter 289, Revised Edition 2000  
Customs  Customs and Excise Duties Act, Chapter 48, Revised Edition 2000  
 Customs Regulation Act, Chapter 49, Revised Edition 2003  
Energy  Electricity Act, Chapter 221, 2000  
 Petroleum Act , Chapter 225, 2000  
 Petroleum Act, Chapter 225 S, 2000  
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  
Financial Services  Central Bank of Belize Act 1982, Revised Edition 2003  
 Exchange Control Reg ulation Act, Revised Edition 2003   
 Domestic Banks and Financial Institutions Act, 2012 (DBFIA)  
 International Banking Act, Chapter 267, Revised Edition 2003  
 International Banking (Fees) Regulations 2010  
 Credit Unions Act, Revised Edition 2003  
 Insurance Act 2004, Chapter 251 (Amended) by Act No. 11 of 2014 and Act 
No. 16 of 2014  
 International Insurance Act, Chapter 269, 2000  
 Money Laundering and Terrorism (Prevention) Act 2008  
Fisheries  Fisheries Act, Chapter 210, Revised Edition 2000  
 High Se as Fishing Act 2013  
Forestry  Forest Act, Chapter 213, Revised Edition 2000  
 National Parks System Act, Chapter 215, Revised Edition 2003  
Government procurement  Finance and Audit Act, Chapter 15, Revised Edition 2000  
 Finance and Audit (Reform) Act 2005  
 Contractor General Act No. 6 of 1993  
Investment  Fiscal Incentives Act, Chapter 54, Revised Edition 2003  
 Export Processing Zone (EPZ) Act 1990  
 Commercial Free Zones (CFZ) Act 1994  
 Gaming Control Act, Chapter 152, Revised Edition 2000  
 Lotteries C ontrol Act, Chapter 151, Revised Edition 2000  
 Belize Trade and Investment Development Service Act, Chapter 282, Revised 
Edition 2000  
Intellectual property  Patents Act, Chapter 253, Revised Edition 2000  
 Patents Regulations, Chapter 253 S  
 Designs Act , Chapter 254, Revised Edition 2000  
 Industrial Designs Regulations, Chapter 254  S 
 Integrated Circuits Act, Chapter 256, Revised Edition 2000  
 Protection of New Plant Varieties Act, Chapter 255, Revised Edition 2000  
 Protection of New Plant Varieties Regulations, Chapter 255 S, 2001  
 Copyright Act, Chapter 252, Revised Edition 2000  
 Copyright (Specified Countries) Order, 2001  
 Trade Marks Act, Chapter 257  
 Trade Marks Rules, Chapter 257  S 
 Other Electronic Transactions Act, Chapter 290, Revised Ed ition 2003  
Land National Lands Act, Chapter 191, Revised Edition 2003  
 Registered Land Act Chapter 194, Revised Edition 2000  WT/TPR/S/ 353 • Belize  
 
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  Area  Legislation  
Mining  Mines and Mineral Act, Chapter 226, Revised Edition 2000  
 Mines and Minerals (Safety, Health and Environmental) Regulat ions No. 33 , 
Revised Edition 2003  
Maritime transport  Maritime Areas Act 1992  
 Belize Port Authority Act, Chapter 233, Revised Edition 2000  
 Harbours and Merchant Shipping Act, Chapter 234, Revised Edition 2003  
 Registration of Merchant Ships Act, Chapter 236 Revised Edition 2000  
SPS and quarantine  Belize Agricultural Health Authority Act No. 47 of 1999  
 Public Health Act, Chapter 40, Revised Edition 2003  
 Pesticides Control Act 1985  
Standards and technical 
regulations  Factories Act, Chapter 296, Revised Edition 2000  
 Standards Act, Chapter 295, Revised Edition 2000  
 Supplies Control Act, Chapter 293, Revised Edition 2003  
 Metrology Act No. 23 of 2003  
 Dangerous Goods Act, Chapter 134, Revised Edition 2000  
 Sale of Goods Act, Chapter 261, Rev ised Edition 2000  
 Food and Drugs Act, Chapter 291, Revised Edition 2000  
Taxation  Income and Business Tax Act 1998  
 General Sales Tax Act 2005  
 General Sales Tax Act Amendment S.I. 38, 2010  
Tourism  Hotels and Tourist Accommodation Act, Chapter 285, Re vised Edition 2003  
 Belize Tourism Board Act, Chapter 275, Revised Edition 2000  
Telecommunications  Belize Telecommunications (Assumption of Control over Belize Telemedia 
Limited) Order, S.I. 104 of 2009  
 Public Utilities Commission Act, Chapter 223, Rev ised Edition 2000  
 Belize Telecommunication Act 2002, Chapter 229  
Source:  Belize Laws online information. Viewed at: http://www.belizelaw.org/web/lawadmin/ . 
2.3  Trade Agreements and Arrangements  
2.3.1   WTO  
2.23.   Belize became a signatory to the GATT in 1983 and a founding Member of the World Trade 
Organization (WTO) in 1995. Belize does not have a representative in Geneva responsible for WTO 
affairs; hence, its involvement in WTO activities is limited. Currently, Beli ze's Embassy in Brussels 
has responsibility for WTO matters. In order to maximize its participation in the WTO, Belize is a 
member of the following WTO groups: the African, Caribbean and Pacific (ACP)  group , G-90 (ACP, 
African Group and LDC s), G-33 (agricu lture), the "W52" sponsors (geographical indications), and 
the small and vulnerable economies (SVEs)  group . Although Belize has never been a respondent or 
complainant in a WTO dispute, it has been a third party to four dispute settlement cases.9 
2.24.   One of Bel ize's main interests in the WTO is seeking flexibilities for SVEs in agriculture and 
non-agriculture goods, as well as clearly defined tariff reduction targets for developed  countries , 
developing countries and SVEs that align with the principles of special  and differential treatment 
and non -reciprocity. In services, Belize also seeks commitments to grant flexibilities to developing 
countries.  
2.25.   Belize was among the first countries to ratify the WTO Trade Facilitation Agreement (TFA), 
and is committed to imple menting the provisions of the TFA, with donor assistance, in order to 
facilitate trade flows of goods and services and reduce trade -related costs and delays.  
2.26.   In the context of its new trade policy framework, Belize's interests lie in enhancing 
institutiona l capacity for trade, including improving recruitment and retention of skilled workers, so 
                                                
9 EC – Regime for the Importation, Sale and Distribution of Banan as (DS27);  EC – Export Subsidies on 
Sugar (DS265);  EC – Export Subsidies on Sugar (DS266) ; and EC – Export Subsidies on Sugar (DS283) . 
Information on th ese cases is available on the WTO website . WT/TPR/S/ 353 • Belize  
 
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  as to ensure the achievement of the framework's goals. In this respect, the WTO's technical 
assistance along with donors' support is crucial for Belize.  
2.27.   Since the la st review, Belize's market access concerns have been  submitted through the 
ACP group to the wider WTO membership. Belize made note of the loss of preferences on key 
lucrative commodities such as banana s and sugar. This is still a pressing concern for Beliz e as 
more and broader regional trade agreements are concluded globally.  
2.28.   Food security and its link to the depletion of fishing resources is another concern for Belize. 
Belize supports the ACP position that seeks a decision on the elimination of fisheries s ubsidies 
which have led to over -fishing and illegal, unreported and unregulated (IUU) fishing.  
2.29.   Since 2009, Belize has submitted updated notifications to the WTO in the following areas: 
sanitary and phytosanitary measures (SPS); anti -dumping; subsidies and countervailing 
measures; safeguards; regional trade agreements (regarding CARIFORUM) ; and rules of origin 
(Table 2.3). On the other hand, no notifications have been made in the areas of agriculture 
(domestic support and export subsidies); trade -related inv estment measures (TRIMs); 
government procurement; import licensing; and state trading enterprises.  
Table 2.3 Notifications to the WTO, January 2009 -November 2016  
Legal provision  Description of 
requirements  Frequency  WTO document (most 
recent or series) and date  
Agreement on Rules of Origin  
Article 5 and para. 4 of 
Annex II  Non-preferential and 
preferential rules of 
origin  Once (90 days after 
entry into force of 
WTO Agreement, or 
promptly thereafter 
in case o f preferential 
ROs); ad hoc (60 
days before entry 
into force of modified 
or new RO s) G/RO/N/147, 12/09/2016  
Agreement on Implementation of Article VI of the GATT 1994 (Anti -dumping)  
Article 16.4  Anti-dumping actions 
(taken within the 
preceding 6 months)  Semi-annual  G/ADP/N/173/Add.1/Rev.2,  
23/11/2010  
 
Article 16.5  Authorities and 
procedures  As appropriate (upon 
entry into force of 
the WTO Agreement 
for the Member 
concerned)  G/ADP/N/193/BLZ, 
22/04/2010  
Agreement on Trade -Related Aspects of Intellectu al Property Rights (TRIPS)  
Article 69  Specification of contact 
points; changes thereto  Once (1 Jan uary 
1996, or promptly 
upon becoming 
Member)  IP/N/3/Rev.11, 04/02/2010  
 
Agreement on Safeguards  
Article 12.6  Laws/regulations and 
administrative 
arrangeme nts (and 
changes thereto), or 
absence thereof  Once (promptly after 
the date of entry into 
force of the WTO 
Agreement); ad hoc 
(promptly after the 
establishment of 
laws, regulations and 
administrative 
procedures, with 
updates to reflect 
modifications)  G/SG/ N/1/BLZ/1, 06 /03/2014  
Agreement on the Application of Sanitary and Phytosanitary Measures  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/7, 20 /12/ 2011  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/8, 02/12/2011  
Article 7 and An nex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/9, 20/12/2011  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/2, 21/06/2011  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/3, 21/06/2011  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ /4, 21/06/2011  
Article 7 and Annex B  SPS regulations  Ad hoc  G/TBT/N/BLZ/5, 28/10/2011  WT/TPR/S/ 353 • Belize  
 
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  Legal provision  Description of 
requirements  Frequency  WTO document (most 
recent or series) and date  
Article 7 and Annex B  SPS regulations  Ad hoc  G/SPS/N/BLZ/6, 21/ 06/2011  
Agreement on Subsidies and Countervailing Measures  
Article 25.1 and Article 
XVI:1 of the GATT  Subsidies (any subsidy as 
defined in ASCM 1:1 
which is specific within 
the meaning of ASCM 2)  
 Annual (triennial full 
notification and 
annual changes)  G/SCM/284/BLZ; 
G/SCM/N/290/BLZ, 
22/01/2016  
Articles 25.11 and 
25.12  Countervailing duty 
actions (prelimi nary and 
final); authorities and 
procedures  Ad hoc (without 
delay); once (upon 
entry into force of 
the WTO Agreement 
for existing 
authorities and 
procedures); ad hoc 
(as and when a 
Member establishes 
or modifies such 
authorities and 
procedures)  G/SCM/N/202 /BLZ, 
11/03/2014  
General Council 
Decision WT/L/691 on 
the Extensions under 
SCM Article 27.4  Transition period for the 
elimination of export 
subsidies  In accordance with 
procedures in 
General Council 
Decision WT/L/691  G/SCM/N/299/BLZ, 
07/10/2016  
Agreemen t on Technical Barriers to Trade (TBT)  
Article 15.2  Administrative 
arrangements; laws/ 
regulations  Once (upon entry 
into force of the WTO 
Agreement)  G/TBT/2/Add.104, 
20/08/2010  
Article 2.9  Technical regulations  Ad hoc  G/TBT/N/BLZ/2, 28/10/2011  
Article 2 .9 Technical regulations  Ad hoc  G/TBT/N/BLZ/3, 28/10/ 2011  
Article 2.9  Technical regulations  Ad hoc  G/TBT/N/BLZ/4, 28/10/2011  
Article 2.9  Technical regulations  Ad hoc  G/TBT/N/BLZ/5, 28/10/2011  
Article 10.6 Regional Consumer  
Protection Draft Law  
based o n CARICOM Model  Ad hoc  G/TBT/N/BLZ/1, 23 /09/2010  
Agreement on Trade Facilitation  
Ministerial Decision of 7 
December 2013 
(WT/MIN (13)/36, 
WT/L/911 ) Notification of Category A 
Commitments  Once WT/PCTF/N/BLZ/1, 
04/09/2015  
Source:  Belize's  notifications  to the WTO, 2009 -16. 
2.3.2   Regional and preferential agreements  
2.3.2.1   CARICOM  
2.30.   The Caribbean Community and Common Market (CARICOM) came into force with the 
signing of the Treaty of Chaguaramas in Trinidad and Tobago on 4 July 1973.10 Belize joined the 
Community in 1974 .11 The Revised Treaty of Chaguaramas (RTC), signed in Bahamas in 2001, 
established the CARICOM Single Market and Economy (CSME). The CSME is a regional integration 
process that should create a single market and economy among CARICOM member States through 
the removal of all barriers to the free movement of factors of production, including fiscal, legal, 
physical, technical and administrative restrictions. In January 2006, Belize joined  the CARICOM 
Single Market (CSM) , the first component of the CSME. The sec ond component, the "single 
economy" was scheduled for 2016, but has been deferred due to pending administrative, fiscal and 
legal issues. Currently, 1 3 member States are part of the CSME.12 
                                                
10 The revised Treaty of Chaguaramas was notified to the WTO i n document WT/REG155/1, 8 July 2003.  
11 CARICOM has 15 member States: Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, 
Guyana, Haiti, Jamaica, Monserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent an d the Grenadines, 
Suriname, Bahamas, and Trinidad and Tobago.  
12 Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Saint Kitts and 
Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.  WT/TPR/S/ 353 • Belize  
 
- 30 - 
 
  2.31.   Within CARICOM, Belize is a designated less developed country (LDC) , and has the right to 
protect vulnerable and sensitive domestic industries to redress disadvantages arising from the 
obligations under the CSME. All goods from the other CARICOM members enter Belize duty -free, 
except for  beer, aerated beverages and wheat flour.13 The RTC prohibits the application of import 
licensing requirements on goods of Community origin. However, Belize still applies import licensing 
requirements to a range of goods from all CARICOM member States: rice, poultry, edible 
vegetables and ro ots, corn, maize flour, soya beans, preparations of meat, sugar and sugar 
confectionary, preparations of vegetables, fruit and nuts or other parts of plants, beverage spirits 
and vinegar, prepared animal fodder, gasoline, kerosene, diesel, petroleum gases,  edible products 
of animal origin, meat and edible offal, wood and articles of wood, and furniture made of wood for 
use in offices, kitchens and bedrooms or upholstered seats with wooden frames.  
2.32.   The two main bodies of the Community are the Conference of He ads of Government (the 
highest organ) and the Community Council of Ministers (the second highest organ). These two 
bodies are assisted by the following four bodies: the Council for Finance and Planning (COFAP); 
the Council for Trade and Economic Developmen t (COTED); the Council for Foreign and 
Community Relations (COFCOR); and the Council for Human and Social Development (COHSOD). 
A quasi -cabinet of Heads of Government has been established, with each Head having the 
responsibility to lead in critical areas for the region's integration process. Belize is currently 
responsible for justice and governance. The CARICOM Secretariat assists in the implementation of 
the provisions of the RTC.  
2.33.   In 2010, CARICOM approved seven regional priority areas for the developmen t of trade in 
services: (i) financial services ; (ii) information, communication  and technology  (ICT); 
(iii) professional services ; (iv) tourism services ; (v) education services ; (vi) health  and wellness 
services ; and (vii) recreational, cultural  and sporti ng services . The objective is to develop legal 
frameworks in CARICOM member  States and facilitate the free movement of services within 
CARICOM. In early 2016, consultants began collecting information on the state of play in the 
Caribbean regarding the foll owing services: cultural and entertainment, ICT, health and wellness, 
and professional services; this will be extended to tourism, sporting and education services. 
Furthermore , in 2016 a trade in services statistics project began with the aim of building c apacity 
in the national statistical offices and improv ing the collection of national services statistics.  
2.34.   CARICOM has signed bilateral trade agreements with five Latin American countries: 
Colombia (1994), Venezuela (1992), Dominican Republic (1998), Costa Rica (2004) and a trade 
and economic cooperation agreement with Cuba (December 2000). Of these, only two agreements 
have been ratified: Costa Rica (5 October 2010) and Cuba (6 September 2002). Belize is entitled 
to preferential duty -free treatment for good s on a non -reciprocal basis under all five agreements. 
However, the agreement with the Dominican Republic provides for a revision of the non -reciprocity 
provision granted to Belize and for the negotiation of a new Chapter on Services after the first five 
years of entry into force. This has not happened as the agreement has not yet entered into force.  
2.3.2.2   EU–CARIFORUM Economic Partnership Agreement  
2.35.   In October 2008, Belize signed the Economic Partnership Agreement (EPA) between the 
European Union and CARIFORUM.14 The agreement has been notified to the WTO.15 The EPA allows 
for immediate duty -free and quota -free market access for all goods originating in CARIFORUM 
States to the EU market, except for rice and sugar which both had a phase -in period with a 
regional tari ff quota at zero duty. On 1 January 2010, customs duties and quotas on rice 
originating from all CARIFORUM States were eliminated. In 2015, all duties and quotas on sugar 
were removed. CARIFORUM tariff elimination commitments cover 87% of EU exports and ar e to be 
implemented over a 25 -year period.  
                                                
13 The authorities indicated that these are the  only three products currently approved for  treatment 
under Article 164  (Promotion of Industrial Development ) of the R evised  Treaty of Chaguaramas . The text of the 
treaty is available on the C ARICOM website at: http://archive.caricom.org/jsp/community/revised_treaty -
text.pdf . 
14 The m embers of CARIFORUM are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, 
Guyana, Haiti, Jamaica, Monserrat, Saint Kitts and Nevis, Saint L ucia, Saint Vincent and the Grenadines, 
Suriname, The Bahamas, Trinidad and Tobago,  and the Dominican Republic . 
15 WTO document WT/REG255/N/1/Rev.1 and S/C/N/469/Rev.1, 24 October 2008.  WT/TPR/S/ 353 • Belize  
 
- 31 - 
 
  2.36.   In addition to trade in goods, the EPA covers trade in services; investment; intellectual 
property; transparency in public procurement; competition; and development support. Sectors 
excluded are processing of nucl ear material, trade in arms, audiovisual services, national maritime 
cabotage, and air traffic rights. Annex IV F to the Agreement lists limitations to market access and 
national treatment for trade in services.  
2.37.   According to the Belizean authorities, imple mentation of the EPA has been slow due to 
human and financial challenges. However, they indicated that Belize had completed its third tariff 
reduction under the Agreement. In 2014, the Cabinet approved a national EPA implementation 
plan and the creation of  an EPA Unit. Since its establishment, the Unit has coordinated capacity 
building initiatives for the benefit of private and public sector representatives, including training for 
export consortia using the UNIDO model, sensitization and awareness campaigns , and training and 
GAP audits regarding ISO 9001 requirements. In fulfilment of EPA provisions, a Draft Geographical 
Indications Bill was produced in November 2015.  
2.38.   The authorities intend  to set up a new CSME -EPA Implementation Committee with 
responsibilit y for overseeing the policy -related issues associated with implementation of the EPA 
and other trade agreements. The committee would be drawn from the pool of Chief Executive 
Officers (CEOs) in government ministries.16 
2.3.2.3   Trade relations with Central America  
2.39.   The Central American Integration System (SICA) was established with the signature of the 
Protocol of Tegucigalpa in December 1991. The protocol came into force in 1993. In addition to 
Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama, Belize became a full 
member of SICA in December 2000. The overall objective is to achieve regional integration and 
transform Central America into a region of peace, liberty, democracy and development. As a 
member, Belize can participate in all organs and instit utions of SICA, which include inter -
governmental decision -making bodies, community organizations, and specialized agencies.  
2.40.   Belize is currently evaluating the economic, political and social implications of becoming a 
signatory to the Protocol of Guatemala (1993) which established the Central American Economic 
Integration S ubsystem which  forms the economic component of SICA. If and when Belize joins the 
Subsystem , it will form part of the Council of Ministers (COMIECO), the highest decision -making 
body. By t he same token, Belize would be required to remove fiscal, legal and administrative 
restrictions to facilitate the movement of capital, people, goods and businesses among the 
member countries.  
2.3.2.4   Partial Scope Agreement with Guatemala  
2.41.   On 26 June 2006, Belize a nd Guatemala signed a Partial Scope Agreement (PSA) that 
entered into force in early 2010.17 Under the PSA, the parties grant each other preferential access 
for a limited number of goods. For exports from Belize to Guatemala, the PSA covers 72 tariff lines 
at the HS 8 -digit level, all of which enter free of duty from the start of implementation, except for 
two products (yellow maize and black beans) which are subject to tariff quotas.18 
2.42.   For exports from Guatemala to Belize, the PSA covers 79 tariff lines at t he HS  8-digit level. 
The margin of preference granted by Belize is between 50% and 100% and is implemented either 
immediately or in equal annual instalments over 3 or 5 years.19 Import licences are granted 
                                                
16 In Belize , the Chief Executive Officer is  second in command after the  Minister . 
17 Belize ratified the PSA in October 2009.  Guatemala comp leted its ratification process in March 2010.  
18 Yellow maize ( HS1005.90.20 ) is subject to a tariff quota of  20,000 metric tons;  and black beans (HS 
0713.33.10 ) have a tariff quota of 875 metric tons. The i n-quota duty is 0%  in both cases . 
19 Under Article 5 of the PSA , tariff preferences on originating goods are to be implemented as follows: 
Category "A": a margin of preference between 50% and 100% shall be fully implemented on the date that  the 
Agreement enters into force. Category "B": a margin of preference between 50% and 100% shall be 
implemented in three equal annual cuts, beginning on the date that the Agreement enters into force. Category 
"C": a margin of preference between 50% and 10 0% shall be implemented in five equal annual cuts, beginning 
on the date that the Agreement enters into force. SICE online information. Viewed at: http://www.sice.oas. 
org/trade/blz_gt m/BLZ_GTM_PSA_e.pdf . WT/TPR/S/ 353 • Belize  
 
- 32 - 
 
  automatically to Guatemalan products covered by the  PSA. According to the authorities, Belize has 
completed all required phases of tariff reductions as outlined in the Tariff Schedules of the PSA. 
Among the main Belizean products benefiting from this agreement are: citrus es, tilapia, cattle, red 
beans, pou ltry and pepper sauce.  
2.43.   In order to facilitate full implementation of the agreement, a Belize -Guatemala 
Administrative Commission was established. The Commission met in February 2014 and August 
2015 in Belize, and was formed by high level officials from bo th countries.  
2.3.2.5   Other arrangements  
2.44.   Belize benefits from two unilateral trade preferences programmes: CARIBCAN and the 
Caribbean Basin Initiative (CBI). Under CARIBCAN, established in 1986, Canada grants unilateral 
duty-free market access for goods and servic es from Caribbean Commonwealth partners. 
Negotiations between the CARICOM States and Canada to conclude a new binding agreement that 
would build on the existing arrangements and secure existing benefits were suspended in May 
2015 due to divergent views on key issues.  
2.45.   The Caribbean Basin Initiative  (CBI)  is a unilateral arrangement  established by the United 
States to facilitate economic development and export diversification in Caribbean economies. It 
was launched in 1983 through  the Caribbean Basin Economic  Recovery Act (CBERA) and then 
expanded through the enactment of the Caribbean Basin Trade Partnership Act (CBTPA) in 2000 
and through relevant provisions in the Trade Act of 2002. CBI beneficiary economies receive duty -
free access for most of their origin ating goods in the U.S. market.  The CBI is also used as a forum 
to discuss relevant trade issues.  
2.46.   Belize enjoys duty -free access for a substantial part  of its agriculture and crude oil exports 
to the U.S. market through the CBI. In 2010, 47% of Belize's ex ports were destined f or the 
United  States,  this proportion declined to 40% in 2015. The decline can be in part attributed to the 
reduction in exports and prices of crude oil. Nevertheless, the United States continues to be 
Belize's main export partner. In 2015, Belize's top exports to the U.S. market were raw sugar, 
frozen orange juice, crude oil, shrimp, lobsters, and fresh papayas. Apparel articles are no longer 
exported to the United States due to closure of the only garments assembly factory in Belize 
during the period under review.  
2.47.   In principle, Belize also qualifies for GSP treatment from several other developed 
countries20, but practically all its exports are destined for the United States and the European 
Union.  
2.3.2.6   Ongoing negotiations  
2.48.   On 23 August 2012,  a framework agreement was signed for a PSA between the Government 
of Belize and the Government of El Salvador. The first round of negotiations was in February 2013 
in Belize and the second round in July 2013 in El Salvador. A third round of negotiations i s yet to 
be convened.  
2.49.   With Mexico, Belize is currently in the process of establishing the General Framework for the 
Negotiation of a Partial Scope Agreement. Once it is finalized and officially signed, the negotiations 
will proceed according to the schedul e contained in the General Framework.  
2.4  Investment regime  
2.4.1   Foreign investment regulations  
2.50.   The Investment Policy and Compliance Unit, under the MEPITC, has the lead role in 
developing investment policy and enforcing gaming regulations. Currently, no official i nvestment 
legislation or policy exists. In early June 2016, the Cabinet approved the mandate to work on a 
                                                
20 These are: Australia, Kazakhstan, New Zealand, Norway, the Russian Federation, Switzerland and 
Turkey. WTO online information. Viewed at: http://ptadb.wto.org . WT/TPR/S/ 353 • Belize  
 
- 33 - 
 
  framework that will guide the development of Belize's National Investment Policy and Strategy 
(NIPS) and the establishment of a Project Steering Commi ttee to manage this process. Work on 
the NIPS was expected to commence by the end of 2016.  
2.51.   Belize's foreign investment regime is generally open. In most sectors, 100% foreign 
ownership is permitted. Restrictions to foreign investment exist only in a few ar eas: mines and 
minerals, marine fishing and tour operators (Box 2.1).  
Box 2.1 Foreign direct investment reserved activities  
I. Reserved activities (only for Belizean citizens):  Legislation  
Mines and minerals s ector: mineral rights and non -exclusive rights are 
not granted to an individual unless he is a citizen of Belize or to a 
company unless the entire share capital is beneficially owned by citizens 
of Belize and the company is incorporated under the laws of B elize. Mines and Mineral Act, Chapter 226, 
Revised Edition 2000, section 12 (a) 
(b) and section 71 (a), (b) and (c)  
Marine fishing sector: persons wishing to apply for a fisherman's licence 
must be Belizean citizens or permanent residents.  Fisheries Act, Chapter 210S, 
Revised Edition 2000, section 37 (3) 
(a), (b) and (c)  
Tourism sector: only a Belizean citizen or a company that has a 
majority control or ownership by Belizean shareholders or permanent 
residents of Belize who have resided in the country for  at least five 
years can engage in tour operating activities.  Belize Tourism Board Act, Chapter 
275; and Local Water Passenger 
and Water sports Vessels 
Regulations 2002, section 7 (1) (a) 
and (b)  
II. Other restrictions:   
For foreign investors who wish to  own any amount of shares in a locally 
incorporated company in any sector, prior clearance from the Central 
Bank of Belize is required. The procedure is carried out through a 
registered attorney in Belize.  Exchange Control Regulations Act,  
Chapter 52, Revi sed Edition 2003, 
Part III Securities 8 (2)  
Source:  Belize Law online information. Viewed at: http://www.belizelaw.org/web/lawadmin/index2.html . 
2.52.   There are provisions related to investment i n the EU -CARIFORUM EPA and in the Partial 
Scope Agreement between Belize and Guatemala. The EPA provides that the EU and CARIFORUM 
States must ensure that investment is not encouraged through any lowering or relaxing of 
environmental, labour, occupational health and safety legislation, core labour standards or law s 
aimed at protecting and promoting cultural diversity. Annex IV F of the EPA contains limitations to 
investment in services. The PSA with Guatemala requires each party to treat investment from the  
other party on the same terms and conditions it applies to any third party.  
2.53.   In order to attract investments with high economic and social returns for the country, the 
Government of Belize has identified sector priority areas and put in place several incen tive 
programmes.  
2.54.   Belize Trade and Investment Development Service (BELTRAIDE), a statutory body operating 
within the portfolio of MEPITC, serves as the first stop for individuals and businesses seeking to 
invest in Belize. It assists them with relevant info rmation and contacts, provides guidance 
throughout the entire investment process, and administers investment incentives schemes.  
According to BELTRAIDE's investment manual, six areas of investment have been prioritized: agri -
business (inclusive of fisherie s and aquaculture), tourism, medical tourism, international financial 
services, renewable energy, and business process outsourcing (BPO).  
2.55.   Incentives to attract investment generally consist of tax breaks and exemptions. The main 
incentives schemes are provi ded through the Export Processing Zone Act, the Free Zones Act, and 
the Fiscal Incentive s Act. These programmes are discussed in Section 3. 2. 
2.56.   In order to attract retired investors, Belize has put in place a new incentive programme 
called the Qualified Reti red Programme (QRP) for foreigners wishing to retire and live in Belize. In 
order to qualify for QRP status, a person must be 45 years or older, and prove a consistent and 
steady stream of income of at least US$2,000 per month received from abroad. All app licants are 
subject to a background check. Benefits include : exemption from all taxes on income and receipts WT/TPR/S/ 353 • Belize  
 
- 34 - 
 
  (from a foreign source) as well as from all import duties and taxes on personal possessions upon 
the first importation; exemption from all import d uties and taxes for a private motor vehicle every 
five years; possibility to include spouse and children under the age of eighteen under the 
programme; and permission granted to conduct business from Belize provided that the economic 
activity is carried on  outside the country and not with Belizeans.  
2.57.   The Gaming Control Act is intended to contribute to economic growth and development 
through investment. The objective is to create jobs, transfer skills and technology, earn foreign 
exchange, and foster linkages  to the tourism industry and other economic sectors. The Act is 
specifically designed to encourage the hotel and tourism industry. The benefits of the Act include 
an easy application process, permission for gaming rooms to be open every day (except Good 
Friday); no payment of additional fees attached to the usage of slot machines; and a renewable 
licence granted for a period of five years. Large hotels that are established or are in the process of 
construction can apply for a gaming licence. Persons who all ow other persons to use their premises 
for gaming are also required to apply for a gaming licence. Three types of gaming licence exist: 
gaming premises licence (only for casinos), gaming machine licence, and online gaming licence.  
2.58.   The International Busines s Companies (IBC) Act 1990 provides for exemptions from internal 
taxes to encourage offshore investing and international financial transactions. Investors have a 
wide range of services available to them including asset protection, operating brokerage accou nts, 
and other commercial transactions. In 1992, the Trusts Act was enacted to supplement the IBC Act 
and provide onshore and offshore trusts. This law provides for a number of benefits ranging from 
low minimum capital requirements to no exchange control r estrictions.  
2.59.    The Cabinet Sub -Committee on Investment (CSCI), formalized by a Cabinet Decision in 
2014, is a ministerial committee responsible for reviewing large investment projects (exceeding 
US$5 million) and conducting assessment and due  diligence to e nsure meaningful investments and 
maximize benefits to the people and Government of Belize. The CSCI is chaired by the Minister of 
State of the MEPITC.21 A framework (known as the five point analysis) has been established in 
order to provide transparency and  a methodology to assess proposed investments. According to 
the framework, a proposed investment should: a) be socially and economically acceptable and 
legally doable; b) bring revenue to the Government; c) bring meaningful employment; d) bring 
foreign exc hange; and e) preserve and possibly enhance the environment and respect the cultural 
heritage of Belize. This procedure is applied to investments other than those covered under the 
EPZ, free zones  and fiscal incentives  programmes.  
2.60.   Belize has signed seven bilateral investment treaties (BITs) to boost investment 
opportunities for nationals as well as foreign investors (Table 2.4). No new such agreements were 
signed during the period under review.  
Table 2.4 Bilat eral Investment Treaties, 2016  
Partner  Date of signature  Date of entry into force  
Austria  17 July 2001  1 February 2002  
Cuba 08 April 1998  16 April 1999  
El Salvador  04 December 2001  Not in force  
Italy 23 November 2005  Not in force  
Netherlands  20 August  2002 1 October 2004  
Chinese Taipei  16 January 1999  Not in force  
United Kingdom  30 April 1982  30 April 1982  
Source:  Belize Ministry of Foreign Affairs.  
                                                
21 Other members of the CSCI include  the minister of Natural Resources and Immigration; the Minister 
of State of the Ministry of Agriculture, Fisheries, Forestry, the Environment and Sustainable Development; the 
Attorney General; the Labour Commissioner of the Ministry of Labour; and other l ine ministries based on 
project relevance. BELTRAIDE serves as its secretariat.  WT/TPR/S/ 353 • Belize  
 
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  2.4.2   Setting up a business  
2.61.   Setting up a business in Belize requires fulfilling a number of legal requireme nts and 
obtaining authorizations from various agencies (Table 2.5). Certain economic activities require 
special permits or licences, such as gaming, operating hotels and tourist accommodation, mining 
and quarrying, selling liquor, aquaculture, and logging.22 According to the World Bank Doing 
Business 2016 report on Belize, starting up a business requires 9 procedures and 43 days.23 
Table 2.5 Key legal requirements to establish a business in Belize, 2016  
Legislati on Agency  Procedures  Certificate/licence  
Registration of 
business name  
Business Names Act 
(Chapter 247, 
Revised Edition 2000)  Belize 
Companies 
Registry  Business names are registered in 
Belmopan. Application fee of BZ$25. 
Identification of all owners requ ired. A 
name search is also conducted to ensure 
the name is not duplicated.  
 Certificate of 
Business Name  
Incorporation of 
company  
Companies Act 
(Chapter 250, 
Revised Edition 2000)  Belize 
Companies 
Registry  Memorandum of Association and Articles 
of Assoc iation to be submitted to the 
Companies Registry for review. 
Application fee dependent on quantity of 
share capital, but there is a fixed fee of 
BZ$500 for the certificate.  
 Certificate of 
Incorporation  
Trade licence   
Trade Licensing Act  
(Chapter 66, Re vised 
Edition 2000)  City/town 
councils  Applications  for a trade licence to be 
made at a local city/town council. 
Approval is based on the recommendation 
of the respective Trade Licensing Board . 
Fees are a percentage of the annual 
rental value of the premis es. Prerequisite: 
certificate of registration or incorporation.  
 Trade Licence  
Business tax 
registration   
Income and Business 
Tax Act (1998)  
 Income Tax 
Department  Registration for business tax with the 
Income Tax Department.  Prerequisite: 
certificate of  registration or incorporation, 
memorandum of articles of association, 
trade licence and relevant business 
registration form.  Tax Identification 
Number (TIN)  
General sales tax 
registration  
General Sales Tax Act  
(2005)  Income Tax 
Department  Registration f or general sales tax with the 
GST Department, if conducting a taxable 
activity and annual turnover exceeds 
BZ$75,000 (US$37,500). Prerequisite: 
certificate of registration or incorporation 
and trade licence.  
 General Sales Tax 
Number (same as 
the TIN)  
Social security 
registration  
Social Security Act 
(1979)  Social Security 
Board  Payment of social security tax  Social Security 
Number  
Source:  BELTRAIDE  online information , "Steps to Business Establishment ". Viewed at: 
http://www.belizeinvest.org.bz/steps -to-business -establishment/ . 
2.62.   Belizean laws allow for businesses to be established under several forms: private 
companies, joint ventures and cooperatives, partnerships, sole propriet orships, trust funds, public 
investment companies, and international business companies (IBCs). Belizean residents are not 
allowed to form IBCs.  
                                                
22 Since March 2012, there has been  a moratorium on the harvest and export of rosewood.  
23 World Bank ( 2016), Doing Business 2016: Measuring Regulatory Quality and Efficiency . Economy 
Profile Belize 2016 . Viewed at: http://www.doingbusiness.org/data/exploreeconomies/belize/~/media/giawb/ 
oing%2 0business/documents/profiles/country/BLZ.pdf . WT/TPR/S/ 353 • Belize  
 
- 36 - 
 
  2.63.   Foreign -owned businesses may choose to incorporate either under the Companies Act 
(Chapter 250) or the Internat ional Business Companies (IBC) Act. IBC companies must conduct 
business exclusively with non -residents; they may not hold shares or debt obligations in a Belizean 
company and must maintain a registered agent and office in Belize. IBC companies are not 
required to disclose beneficial owners and their register of shares may be inspected only by 
shareholders. Bearer shares are permitted.  
2.64.   Taxation of companies is governed by the Income and Business Tax Act 2000 
(Section  3.3.1 ). 
2.4.3   Ease of doing business  
2.65.   In 2016, Belize ranked 120th out of 189 countries for doing business, a decline from 80th 
place in 2010.24 While in 2010 Belize's overall doing business environment ranked better than 
some of its Caribbean counterparts, in 2016 it fell behind countries such as Jamai ca and the 
Dominican Republic, although it fared better than Guyana and Suriname. Access to electricity and 
paying taxes are the two areas where Belize ranked higher than some of its Caribbean 
counterparts (Table 2.6). Compared to 2010, Belize's rankings i n 2016 fell for almost all 
indicators.25 While the ranking on enforcing contracts has improved, it remains low , reflecting 
mainly the backlog of cases before the court. The 2016 ranking for cross -border trading (117th) 
remained the same as in 2010, and is l ower than the regional average for Latin America and the 
Caribbean.  
Table 2.6 Doing Business: rankings for Belize and selected countries, 2016  
 2016 Rankingsa 
Indicators  Belize  Dominican 
Republic  Guyana  Jamai ca Suriname  
Doing business  120 93 137 64 156 
Starting a business  159 110 92 9 183 
Dealing with construction permits  81 44 138 72 109 
Getting electricity  73 149 165 80 93 
Registering property  128 82 125 122 176 
Getting credit  162 97 167 7 174 
Protec ting minority investors  122 81 99 57 166 
Paying taxes  69 77 117 146 75 
Trading across borders  117 57 139 146 77 
Enforcing contracts  133 115 87 107 186 
Resolving insolvency  81 159 156 35 127 
a Rankings out of 189 economies.  
Source:  World Bank, Doing Bu siness 2016 . Viewed at 
http://www.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Annual -
Reports/English/DB16 -Full-Report.pdf . 
2.66.   Trading across borders in Belize is costly and lengthy. For example, the time to comply with 
border requirements in the case of exports is 96 hours (compared to an average of 86 hours for 
the Latin America and the Caribbean region). The costs o f complying with border procedures for 
the exportation of goods is US$710, compared to a US$493 average for the region. Belize fares 
relatively better as regards the time and costs for importing goods, but the cost of border 
compliance for imports remains higher than in the region as a whole (Table 2.7).  
                                                
24 World Bank (2016), Doing Business 2016 . Viewed at: http://www.doingbusiness.o rg/~/media/GIAWB 
/Doing%20Business/Documents/Annual -Reports/English/DB16 -Full-Report.pdf . 
25 The 2010 rankings can be found in the previous TPR report. WTO (2010), Trade Policy Review of 
Belize , Geneva.  WT/TPR/S/ 353 • Belize  
 
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  Table 2.7 Export and import time and cost in Belize, Latin America and the Caribbean, 
2016  
Export and import time and cost  Belize  Latin America and the 
Caribbe an (average)  
Time to export (hours)  Border compliancea 96 86 
 Documentary complianceb 86 68 
Cost to export (US$)  Border compliance  710 493 
 Documentary compliance  125 134 
Time to import (hours)  Border compliance  48 107 
 Documentary compliance  36 93 
Cost to import (US$)  Border compliance  688 665 
 Documentary compliance  75 128 
a Documentary compliance is the cost (US$) and time (hours) needed to obtain, prepare and submit 
documents during transport, clearance, inspections and port or border handling in origin economy.  
b Border compliance is the cost (US$) and time (hours) used to complete customs clearance and 
inspections, inspections by other agencies, and port or border handling.  
 
Source:  World Bank (2016), Doing Business 2016 . Viewed at: 
http://www.doingbusiness.org/data/exploreeconomies/belize/~/media/giawb/doing%20business/do
cuments/profiles/country/BLZ.pdf . 
2.67.   As part of its efforts to improve the conditions for cross -border trading, Belize ratified the 
WTO Trade Facilitation Agreement (TFA) and deposited its instrument of acceptance in September 
2015. Previously, Belize had notified its "category A " commitments to the WTO26 (Table 2.8).  
2.68.   The Belize National Trade Facilitation Committee, established in 2009 under the MEPITC, is 
administered by the Directorate General for Foreign Trade. The committee's membership is the 
same as for the Trade Technical Team (Table 2.1 ). Its responsibility is to oversee the 
implementation of the TFA, ensure all notification requirements are met, and coordinate technical 
assistance needs for the country. At the regional level, Belize participates in the CARICOM Regional 
Trade Facilitatio n coordination meetings.  
Table 2.8 Belize's Category A commitments under the Trade Facilitation Agreement  
Category A  Measures for immediate implementation  
Article 7.3  Separation of release from final determin ation of customs duties, taxes, fees and charges  
Article 9  Movement of goods intended for import under customs control  
Article 10.2  Acceptance of copies 
Article 10.5  Pre-shipment inspection  
Article 10.6  Use of customs brokers  
Article 10.8  Rejecte d goo ds 
Article 11.4  Transit: strengthened non -discrimination  
Article 11.5 -10 Transit: procedures and controls  
Article 11.11 -15 Transit: guarantees  
Article 12  Customs cooperation  
Article 23.2  National Committee on Trade Facilitation  
Source:  Belize Directo rate General for Foreign Trade.  
 
                                                
26 WTO document WT/PCTF/N/BLZ/1, 4 September 2015.  WT/TPR/S/ 353 • Belize  
 
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  3  TRADE POLICIES AND P RACTICES BY MEASURE  
3.1  Measures Directly Affecting Imports  
3.1.1   Customs procedures, valuation and rules of origin  
3.1.  Since the previous Review in 2010, there have not been any major changes to the legislative 
and institutional framework regulating customs procedures in Belize. Belize's Customs and Excise 
Department oversees the importation and exportation of goods. The m ain laws remain the 
Customs and Excise Duties Act, the Customs Regulation Act, and the Exchange  Control Regulation 
Act.1 During the review period, t he Customs Department reviewed the draft Customs 
Harmonization Bill and Customs Regulations for the CARICOM region. According to the authorities, 
the Bill  will provide greater support to ASYCUDA World an d post clearance audit, and will contain 
provisions for binding advanced rulings. The Bill was approved by CARICOM in September 2016, 
and is to go to the Attorney General's Office for final vetting and then to the National Assembly for 
approval.  
3.2.  ASYCUDA Wo rld has been implemented throughout Belize's customs territory since 2011. The 
authorities stated that the implementation of ASYCUDA World resulted in a shift to a more risk -
based approach and the adoption of post clearance audit. The World Bank's Doing Bu siness report, 
however, ranked Belize 117th in 2016 among 189 economies in terms of the ease of trading across 
borders (Table 3.1), down from 107th in 2012 (among 183 economies in the world).2 Belize's rank 
indicates a performance that is generally lower than the regional average for Latin America and 
the Caribbean. The authorities insisted that ASYCUDA World reduced the customs clearance time 
for traders, as all customs posts designated for  the clearance of  commercial consignments are 
automated and all dec larations are electronic. According to the authorities, the use of e-documents 
and e -signature are mentioned under the Electronic Transaction Act.  
Table 3.1 Summary of procedures and documents for trading acro ss borders, 2016  
Belize  Import procedures  Export procedures  
Time per 
consignment  Cost per 
consignment  Time per 
consignment  Cost per 
consignment  
Border compliance  48 hours  US$688  96 hours  US$710  
Documentary compliance  36 hours  US$75  86 hours  US$125  
Documents required  Application for foreign exchange 
(XCH form),  
bill of lading,  
commercial invoice,  
customs import declaration,  
delivery order,  
out of charge note/cargo release 
order to exit the port,  
packing list  Bill of lading,  
certificate of origin,  
comm ercial invoice,  
customs export declaration,  
export licence,  
packing list,  
phytosanit ary certificate  
Latin America and the Caribbean  Import procedures  Export procedures  
Time  Cost  Time  Cost 
Border compliance  107 hours  US$665  86 hours  US$493  
Documentary  compliance  93 hours  US$128  68 hours  US$134  
Source:  World Bank online information, "Doing Business 2016: Belize". Viewed at: 
http://www.doingbusiness.org/data/exploreeconomies/belize/~/media/giawb/doing%20business/do
cuments/profiles/country/BLZ.pdf  [26/07/16].  
3.3.  Imports may be declared by an importer or a broker, who must obtain a code from the 
Comptroller of Customs. Th e code is granted automatically. Customs brokerage is necessary only 
                                                
1 Customs and Excise Department online information: http://customs.gov.bz/download/customsexcise_ 
duties.pdf  and http://customs.gov.bz/download/customsregulations.pdf  [21/07/16].  
2 World Bank Doing Business online information. Viewed at: 
http:/ /www.doingbusiness.org/~/media/FPDKM/Doing%20Business/Documents/Annual -Reports/English/DB12 -
FullReport.pdf  and http://www.doingbusiness.org/data/exploreeconom ies/belize/#trading -across -borders  
[26/07/16].  WT/TPR/S/ 353 • Belize  
 
- 39 - 
 
  when the commercial value of the imported goods exceeds BZ$200 (US$100).3 In May 2015, 
Belize introduced a voluntary compliance programme (VCP) for the top 25 traders based on the 
c.i.f. trade value. Under this system, 80% of these traders' imports go through the green channel 
(see below), and impor ters are required to disclose discrepancies where they exist. The authorities 
indicated that they  plan to roll out the VCP system in early 2017 . 
3.4.  Under ASYCUDA World, there are four channels for customs clearance: green (release of 
cargo without examination), yellow (release of cargo after documentary validation), red (release of 
cargo after physical examination) or blue (post audit control).4 Data provided by the authorities 
suggest that, in 2015, 39% of the goods entered Belize through the green channel, 17% through 
the yellow channel, 41% through the red channel , and 3% through the blue channel. The 
authorities emphasized that Customs increased their use of red channel clearance in 2015, with 
the intention of collect ing data. The percentage  of goods passing  through the red channel drop ped 
in 2016, reach ing 31% by November 2016.  
3.5.  For perishable goods, there are expedited clearance procedures, under  which goods are 
cleared through customs on presentation of the customs declaration, and on payment of import 
tariffs plus a deposit of either one -and-a-half or twice the duty value. The customs authorities 
undertake a post -delivery audit.  Demand for exped ited clearance is mainly from three large 
importers approximately twice a month.  
3.6.  There is no legislation on pre -shipment inspection.  
3.7.  Belize submitted its instrument of acceptance of the Trade Facilitation Agreement (TFA) to 
the WTO on 2 September 2015, and  notified its category A commitments.5 According to the OECD 
Trade Facilitation Indicators, Belize's best performance is in the areas of information availability, 
appeal procedures , and the simplification and harmonization of documents. However, in general , 
Belize's performance is below the averages of Latin America and the Caribbean and lower -middle -
income countries.  
3.8.  The procedures for filing customs decisions  complaints  have remained unchanged since the 
previous Review.  In practice, all customs valuation and classification disputes have been resolved 
administratively. Traders may appeal customs decisions, although in practice no such appeals have 
been filed since 2011. The CARICOM Customs Harmoni zed Bill envisaged the establishment of a 
Customs Appeals Com mission.  
3.9.  As at the time of  the previous Review, Belize uses the transaction value to determine 
customs value, and when it is not possible to apply the transaction value, Customs applies the 
other methods set out in the WTO Customs Valuation Agreement seque ntially. In 2015, the 
transaction value was used in 95% of cases (same as in 2009). The Comptroller of Customs 
receives a weekly exchange rate for foreign currencies against the U.S. dollar from the Central 
Bank to calculate customs value. When the transac tion value is questioned and proof cannot be 
provided, for example, for second -hand vehicles and gifts for which invoices are not available, 
Customs determines the value in consultation with the importer.  
3.10.   In September 2016 , Belize notified that it applies no non -preferential rules of origin.6 Its 
preferential rules of origin for goods imported into Belize are administered by Customs (Table 3.2).  
                                                
3 BCCI Trade and Investment Zone online information. Viewed at: http://www.belize.org/tiz/customs -
and-duties  [27/07/16].  
4 Customs and Excise Depar tment online information. Viewed at: http://customs.gov.bz/download/ 
risk.pdf  [21/07/16].  
5 WTO document, WT/PCTF/N/BLZ/1, 4 September 2015. And WTO TFA Facility online information . 
Viewed at : http://www.tfafacility.org/notifications  [26/07/2016].  
6 WTO document, G/RO/N/147, 12 September 2016.  WT/TPR/S/ 353 • Belize  
 
- 40 - 
 
  Table 3.2 Belize's preferential rules of origin  
Agreement/country  Rules  
CARICOM  Article 84 of the Revised Treaty of Chaguaramas deals with rules of origin. Goods 
must have been wholly obtained or produced within CARICOM (intra -CARICOM 
cumulation applies). Goods produced within CARICOM from materials imported from 
third countries must have been substantially transformed: this may be specifically 
defined for each tariff heading as set out in Schedule I of the Revised Treaty, or it is 
achieved by a change of tariff heading.  
 
CARIFORUM –EC 
Economic  Partnership 
Agreement  Rules of origin are set out in Article 10 to the Agreement and Protocol I. Products 
must have been wholly obtained within the parties or have undergone sufficient 
working/processing as set out in Annex II to Protocol I. Cumulation among the parties 
applies and , under certain conditions, may also include ACP states and the EU's 
overseas countries and territories. At the request of the CARIFORUM States, and 
under certain conditions, CARIFORUM origin may also be conferred on goods 
incorporating materials from cert ain neighbouring countries without sufficient 
working/processing being required. These countries are: Colombia, Costa Rica, Cuba, 
El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Venezuela. Goods 
are considered as originating if the value o f all non -originating materials does not 
exceed 15% of the ex -works price of the product.  
 
Belize –Guatemala 
Partial Scope 
Agreement  Specific rules of origin relating to the goods covered by the Partial Scope Agreement 
are set out in Annex IIIA to the Agre ement. If not wholly produced in one or both 
countries, origin is generally conferred by a change of tariff heading.  
Source:  WTO (2010), TPR of Belize.  
3.1.2   Tariffs  
3.11.   Belize's tariff schedule is based on CARICOM's Common External Tariff (CET), with some 
exceptio ns. Under the CET, maximum tariff rates are set at 20% for non -exempt industrial goods, 
and 40% for non -exempt agricultural goods.  
3.12.   Tariff rates may be changed by the National Assembly, through amendments to the 
Customs and Excise Duties Act. In 2010, some  goods were exempted from import tariffs, 
including: banana plants, coffee substitutes, sesame oil and its fractions, vegetable fats and oils, 
luncheon meat, bulgur wheat, inactive yeasts, cartons/boxes/cases, cables, sugar cane loading 
machinery, some par ts for tractors, chicken sausages, hot -dog sausages, and note books.7  
3.13.   In 2012, the Customs and Excise Duties Act was amended to adjust the tariff rates of those 
items which had been removed from import licensing requirements ( Section 3.1.4).8 These items 
include: edible offal of some animals; some vegetables; some fruits (including bananas); flour of 
durum wheat; peanuts; jams and jellies; fruit and vegetable juices; pepper sauce; animal feeds; 
wood; yachts and other vessels for pleasure and for sports; se ats with wooden frames; and 
furniture. The i mport tariff rate is zero for goods originating in CARICOM countries, while they 
range from 5 -100% for goods originating in non -CARICOM countries.9 
3.14.   Other changes to tariffs include:  
a. in 2013, the tariff rate for flour of durum wheat was increased: 70% if originating in 
CARICOM (up from zero -rated), 100% if originating in non -CARICOM countries (from 
45%)10; 
b. in 2015, the tariff rate for plastic tanks was increased: 0 if originating in CARICOM 
countries, 20% if origina ting in non -CARICOM countries11; and  
                                                
7 BCCI Trade and Investment Zone online information. Viewed at: http://www.belize.org/tiz/customs -
and-duties  [27/07/16].  
8 Customs and Excise Duties (Amendment) Act 2012, No. 12 of 2012.  
9 For goods originating in non -CARICOM countries, tariff rates are the same with one exception: yachts 
and othe r vessels for pleasure or sports. The tariff rate is zero if they originate in the EU, and is 20% if they 
originate in non -EU countries.  
10 Customs and Excise Duties (Amendment) Act, 2013, No. 6 of 2013.  WT/TPR/S/ 353 • Belize  
 
- 41 - 
 
  c. in 2016, tariffs on gasoline and diesel were abolished.12 
3.1.2.1   Applied tariffs  
3.15.   Based on the Second Schedule to the Customs and Excise Duties Act (as amended), Belize's 
tariff comprises 6,472 tariff lines at the HS eight -digit level, using the HS2012 nomenclature 
(Table 3.3). Most lines (99.3%) carry ad valorem  rates, with 17 rates applied (from zero to 
100%), and the highest tariff rate was up from 70% in 2010 to 100% in 2016 (Chart  3.1). More 
than half (51%) of tariff lines ca rry a rate of 5%, and 11% of tariff lines are zero-rated. Tariff 
rates between 50% and 80% apply to a variety of products, including wood and plywood, pearls, 
clocks and watches, firearms, preparations of vegetables, edible vegetables and fruits. Items 
attracting an MFN applied rate of 100% are fruit juices, water, and beer.  
Table 3.3 Structure of the tariff schedule in Belize, 2016  
 2010  2016  
Total number of tariff lines  6,305  6,472  
Non-ad valorem  tariffs (%  of all tariff lines)  0.7 0.7 
Non-ad valorem  with no AVEs (% of all tariff lines)  0.7 0.7 
Lines subject to tariff quotas (% of all tariff lines)  0.0 0.0 
Duty-free tariff lines (% of all tariff lines)  9.8 11.0 
Average tariff rate of dutiable lines (%)  12.9 14.2 
Simple average tariff (%)  11.6 12.6 
WTO agriculture  20.5 23.3 
WTO non -agriculture (incl. petroleum)  9.9 10.5 
Domestic tariff "peaks" (% of all tariff lines)a 9.3 10.7 
International tariff "peaks" (% of all tariff lines)b 27.9 29.0 
Overall st andard deviation  12.2 14.8 
Nuisance applied rates (% of tariff lines)c 0.0 0.1 
Bound tariff lines (% of all tariff lines)  97.4d 97.7e 
a Domestic tariff peaks are defined as those exceeding three times the overall average applied rate.  
b International ta riff peaks are defined as those exceeding 15%.  
c Nuisance rates are greater than 0% but inferior or equal to 2%.  
d 163 lines are unbound and 1 line is partially unbound.  
e 120 lines are unbound in the HS2007 nomenclature.  
 
Source:  WTO Secretariat calculati ons, based on data provided by the authorities.  
3.16.   Specific rates are applied on 0.7% of all tariff lines (total of 43 tariff lines), which cover 
potatoes, onions, certain alcoholic beverages, tobacco products, fuels, ethyl alcohol, and food 
preparations. Bel ize does not apply any tariff quotas. Duties are calculated on the c.i.f. value of 
the goods.  
3.17.   The simple average MFN tariff (excluding specific rates) is 12.6%, up from 11.6% in 2010. 
The increase in tariff rates was partly attributed to the change in tari ff nomenclature from HS2007 
to HS2012, and partly because of the increase in the highest tariff rate from 70% to 100%. The 
average applied tariff for agriculture (WTO definition) is 23.3% (up from 20.5% in 2010), with 
tariffs ranging from 0% to 100%. For n on-agriculture the average is 10.5% (up from 9.9%), with 
tariffs ranging from 0% to 75% (Table 3.4).  
                                                                                                                                                  
11 Statutory Instrument No. 84 of 2015, Customs and E xcise Duties (Amendment of First Schedule) 
Order, 2015.  
12 Statutory Instrument No. 36 of 2016, Customs and Excise Duties (Amendment of First Schedule) 
(No. 2) Order, 2016.  WT/TPR/S/ 353 • Belize  
 
- 42 - 
 
  Chart 3.1 Frequency distribution of MFN tariff rates, 2016  
(11.0%)(51.2%)
(3.4%)(4.9%)16.1%)
(0.8%)(12.1%)
(0.6%)
0102030405060708090100
05001,0001,5002,0002,5003,0003,500
Duty free >0 - 5 >5 - 10 >10 - 15 >15 - 20 >20 - 25 > 25 Specific dutyChart 3.1
Frequency distribution of MFN tariff rates, 2016
Number of tariff linesaPer cent
Cumulative per cent
Number of lines (% of total)
a   The total number of lines is 6,472.
Source:   WTO Secretariat calculations, based on data provided by the authorities.
 
a The total number of lines is 6,472.  
 
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
Table 3.4 Summary analysis of MFN tariff, 2016  
 MFNa  
Description  No. of 
lines  Average  
(%) Range  
(%) Coefficient 
of variation  
(CV)  Final bound 
averageb 
(%) 
Total  6,472  12.6 0-100 1.2 58.5 
HS 01 -24 1,313  26.0 0-100 0.9 101.7  
HS 25 -97 5,159  9.3 0-75 1.0 52.4 
By WTO category       
WTO Agriculture  1,114  23.3 0-100 1.0 100.9  
 - Animals and products thereof  177 28.7 0-45 0.6 104.3  
 - Dairy products  25 6.0 0-20 1.1 100.0  
 - Fruit, vegetables and plants  324 27.5 0-80 0.8 101.5  
 - Coffee and tea  29 10.2 0-40 1.2 100.0  
 - Cereals and preparations  137 17.0 0-100 1.1 100.6  
 - Oil seeds, fats and oils and their  
products  109 9.5 0-80 1.7 100.3  
 - Sugars and confectionary  24 25.0 5-45 0.6 100.6  
 - Beverages, spirits and tobacco  119 57.1 0-100 0.7 104.6  
 - Cotton  6 5.0 5-5 0.0 100.0  
 - Other agricultural products n.e.s.  164 10.0 0-55 1.3 97.4 
WTO non-agriculture (incl. petroleum)  5,358  10.5 0-75 1.0 51.6 
 - WTO non-agriculture (excl. 
petroleum)  5,326  10.5 0-75 1.0 51.5 
 - - Fish and fishery products  277 31.0 0-45 0.5 107.1  
 - - Minerals and metals  1,108  8.2 0-50 1.2 50.2 
 - - Chemicals and photographic 
supplies  1,005  6.8 0-35 0.8 50.2 
 - - Wood, pulp, paper and furniture  329 13.4 0-75 1.0 51.9 
 - - Textiles  629 7.5 0-30 0.7 50.9 
 - - Clothing  281 19.9 5-30 0.1 70.0 WT/TPR/S/ 353 • Belize  
 
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   MFNa  
Description  No. of 
lines  Average  
(%) Range  
(%) Coefficient 
of variation  
(CV)  Final bound 
averageb 
(%) 
 - - Leather, rubber, footwear and 
travel goods  182 10.2 0-30 0.7 50.3 
 - - Non-electric machinery  593 5.7 0-30 0.8 50.0 
 - - Electric machinery  265 10.1 0-45 0.8 50.0 
 - - Transport equipment  183 10.7 0-45 1.1 50.0 
 - - Non-agriculture articles n.e.s.  474 14.1 0-60 0.9 50.6 
 - Petroleum  32 3.1 0-25 2.2 69.4 
By ISIC sectorc      
Agriculture and fisheries  511 25.9 0 80 0.9 95.5 
Mining  106 7.4 0-50 1.4 51.9 
Manufacturing  5,854  11.5 0-100 1.2 56.6 
By HS section       
01 Live animals & products  452 29.4 0-80 0.6 102.5  
02 Vegetable products  432 22.9 0-100 1.0 101.1  
03 Fats & oils  54 12.5 0-40 1.4 100.0  
04 Prepared food  etc. 375 27.4 0-100 1.1 102.3  
05 Minerals  191 6.3 0-30 1.0 54.5 
06 Chemical & products  936 6.7 0-35 0.8 52.4 
07 Plastics & rubber  244 7.6 0-30 1.0 50.1 
08 Hides & skins  82 10.6 5-20 0.7 60.4 
09 Wood & articles  133 16.3 0-60 0.8 54.7 
10 Pulp, paper e tc. 165 7.9 0-35 0.9 50.3 
11 Textile & articles  899 11.0 0-30 0.7 57.7 
12 Footwear, headgear  59 16.3 0-20 0.4 50.0 
13 Articles of stone  185 10.8 0-30 0.7 50.0 
14 Precious stones, etc.  62 28.0 0-50 0.8 50.0 
15 Base metals & products  708 6.5 0-20 0.9 50.0 
16 Machinery  872 7.2 0-45 1.0 50.0 
17 Transport equipment  194 10.5 0-45 1.1 50.0 
18 Precision equipment  226 12.8 0-50 1.2 50.0 
19 Arms and ammunition  22 30.7 0-50 0.6 50.0 
20 Miscellaneous manuf acture  173 17.2 0-75 0.7 51.6 
21 Works of art, etc.  8 20.0 20-20 0.0 52.9 
By stage of processing       
First stage of processing  935 21.1 0-80 1.0 78.7 
Semi-processed products  1,878  6.2 0-100 1.1 52.0 
Fully-processed products  3,659  13.7 0-100 1.1 58.5 
a No AVEs could be estimated for non -ad valorem  duties. Therefore, lines with non -ad valorem  duties 
are excluded from the calculation.  
b Bound rates are provided in HS2007 classification and applied rates in HS2012; therefore there is a 
difference between the number of lines included in the calculation.  
c ISIC (Rev.2) classification, excluding electricity (1 line).  
 
Source:  WTO Secretariat estimates, based on data provided by the authorities.  
3.18.   Unprocessed products attract the highest tariffs (averaging 21.1%), followed by fully 
processed products  (averaging 13 .7%) (Table 3. 4). The simple average for semi -processed 
products is 6.2% in 2016. Unprocessed products, such as cucumbers, various vegetables, 
coconuts, dates, figs, pineapples, melons, bananas and other fruits, are subject to a tariff rate of 
80%.  
3.1.2.2   Tariff bindings  
3.19.   Belize bound 97.7% of its tariff lines (in HS2007 nomenclature), with a simple average 
bound  rate of 58.5%. Agricultural products (WTO definition) were bound at a general ceiling rate WT/TPR/S/ 353 • Belize  
 
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  of 100%, except for some lines bound at 110%, including: certai n meat, prepared meat and edible 
offal, honey, certain vegetables, manioc, coconuts, citrus es, ground nuts, rice, soya beans, fruit 
juices, ethyl alcohol, tobacco products and essential oils. One line is bound at 70% (wheat or 
meslin flour), and eight line s are bound at 50% (raw hides and skins).  
3.20.   The general ceiling binding for non -agricultural products is 50%, except for some lines 
bound at 53.5% ( 1 line: compound of mercury), 70%, 100%, and 110%. The items bound at 
110% are: crustaceans, molluscs and othe r aquatic invertebrates, dolomites, and mixtures of 
odoriferous substances. The items bound at 100% are: coral, some animal products, vegetable 
alcaloids and mixtures of odoriferous substances. Products bound at 70% include  various fuels, 
soap, matches, in secticides and rodenticides, articles of plastics, various suitcases and bags, 
various articles and items of wood, plaiting material (matting of vegetable materials), toilet paper, 
various clothing articles and accessories, linens a nd curtains, furniture o f material other than 
wood, pen s/pencil s and holders, tricycles and toys, and original sculptures.  
3.21.   Unbound tariff lines (118 lines and 2 sub -lines) include fish, crustaceans and molluscs, fish 
products, fats and oils of fish, extracts of fish or crustacean s, and flours of fish or crustaceans.  
3.22.   Reflecting tariff rate increases, the applied MFN rates of a number of tariff lines breach their 
bound duties (Table 3.5). The authorities stated that they are making efforts to lower the applied 
rates of these tariff lines.  
Table 3.5 Tariff lines for which  MFN 2016 duties exceed  bound duties  
Directly comparable lines (at the HS 8 -digit level)  MFN duty (%)  Bound 
(%) 
MFN HS 
code  Bound HS 
code  MFN description  Bound descripti on 2010  2016   
94015100  94015100  Of bamboo or 
rattan  - - Of bamboo or rattan  20 60 50 
94015900  94015900  Other  - - Other  20 60 50 
94016100  94016100  Upholstered  - - Upholstered  35 75 50 
94016900  94016900  Other  - - Other  35 75 50 
Comparable lines at the H S 6-digit level  MFN duty (%)  Bound 
(%) 
MFN HS 
code  Bound HS 
code  MFN description  Bound description  2010  2016   
11010010  11010000  Of durum wheat  Wheat or meslin flour  5 100 70 
11010090  11010000  Other  Wheat or meslin flour  25 100 70 
94060010  94060000  Mainly of wood  Prefabricated buildings  20 60 50 
Source:  WTO Secretariat, based on information provided by the authorities.  
3.1.2.3   Customs duty exemptions  
3.23.   The Minister of Finance may grant full or partial tariff exemptions for imports, under certain 
circumstances:  
a. imports by charitable, religious, and non -governmental organizations;  
b. capital goods imported by small licensed hotel and guesthouse operators for the 
improvement of their properties;  
c. passenger vans of up to 18 seats imported by small licensed tour operators for the 
improvement of the quality of their services;  
d. farm machinery and implements imported by small -scale farmers for use in their farming 
activities13; and  
                                                
13 Act to amend the Customs and Excise Duties Act, No. 11 of 2008.  WT/TPR/S/ 353 • Belize  
 
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  e. essential consumable items such as bed linens, towels, and carpets imported by small 
licensed hote l and guest house operators for the running of their businesses.14 
3.24.   The Fiscal Incentives Act, the Export Processing Zone Act, the Free Zone s Act, and the 
Retired Persons Incentives Act all contain provisions on duty concessions and exemptions ( Section 
3.2.4  and Section 2.4.1).  
3.1.2.4   Preferential tariffs  
3.25.   Duty-free access is granted to most CARICOM imports, subject to rules of origin criteria. 
The simple average rate of preferential tariffs (0.2%) is much lower than the simple average 
applied MFN rate (12.6%), with 99.7% of lines duty free (Table 3.6).  
3.26.   Goods from CARICOM MDCs ( more developed countries: Barbados, Guyana, Jamaica, and 
Trinidad and Tobago) that are subject to MFN tariff rates are listed in the Fifth Schedule of the 
Customs and Excise Duties Act, and in clude: wheat flour, biscuits, beer, stout, ale, gin, rum, 
whisky, vodka, tobacco (except cigars), coir products, mats and matting, petroleum products, 
brushes made with plastic bristles (except paint and artists' brushes), preserved fruits and fruit 
prepar ations (except frozen citrus concentrates and citrus segments), prepared paints, enamels, 
lacquer and varnishes, tyres and tubes for vehicles, cleaning preparations without soap, fertilizers, 
crates and wooden containers, finished structural parts of iron or steel, radio and television sets, 
accumulators, wooden and metal furniture, mattresses, underwear and shirts of knitted fabrics, 
underwear, shirts and nightwear (of fabrics other than knitted outerwear of non -knitted textile 
fabrics), and footwear (whol ly or mainly of leather).  
Table 3.6 Analysis of preferential tariffs, 2016  
  WTO categories  
 Total  Agricultural products  Non-agricultural products  
(including petroleum)  
 Average  
(%) Duty -free 
lines  
(%) Avera ge 
(%) Duty -free 
lines  
(%) Average  
(%) Duty -free 
lines  
(%) 
MFN 12.6 11.0 23.3 15.6 10.4 10.0 
CARICOM  0.2 99.7 0.9 98.6 0.0 99.9 
EPA 10.3 20.2 21.4 18.8 8.0 20.5 
Guatemala  12.5 12.0 23.2 15.8 10.3 11.2 
Note:  For this analysis, in cases where the prefer ential tariff is higher than the MFN tariff, the MFN tariff is 
used to calculate the averages.  
Source:  WTO Secretariat estimates, based on data provided by the authorities of Belize.  
3.27.   The simple average tariff on imports from the EU under the EPA between CA RIFORUM and 
the EU is 10.3%, with 20.2% of lines duty free. The highest tariff rates are 80%, 85% (1 item: 
sauces and mixed condiments), and 100%. The rate of 80% applies to birds' eggs, cucumbers, 
various vegetables, coconuts, bananas, dates, figs and pin eapples, melons, some fruits and 
ground nuts. The products subject to the highest rate of 100% are wheat or meslin flour, fruit and 
vegetable juices, waters, and beer.  
3.28.   Under the Partial Scope Agreement with Guatemala, 12% of tariff lines are duty free, and  
the simple average tariff on imports from Guatemala is 12.5%, slightly lower than the simple 
average MFN tariff rate (12.6%).  
3.1.3   Other duties and charges  
3.29.   Taxes from international trade and transactions, including import tariffs and other duties 
and charges, accounted for 26% of total tax revenue in 2015 (15% in 2009) ( Section  1).  
                                                
14 Act to amend the  Customs and Excise Duties Act, No. 14 of 2010.  WT/TPR/S/ 353 • Belize  
 
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  3.30.   Belize bound other duties and charges on a number of products.15 Other duties and charges 
on agricultural products were bound at 14%, except for chewing gum and other sugar 
confectio nery not containing cocoa (29%), beer stout and other (14% stamp duty plus revenue 
replacement duty (RRD) of BZ$19.06 per imperial gallon)16, alcoholic beverages (14% stamp duty 
plus 90% RRD), and tobacco products (14% stamp duty, and 75% RRD applicable onl y to 
cigarettes). Belize also bound other duties and charges on certain non -agricultural goods, with 
bindings ranging from 2% for fertilizers to 44% for aviation spirit.  
3.31.   During the review period, a number of changes were made to taxes collected at the bord er. 
In particular, the amendment to the Customs and Excise Duties (Amendment) Act in April 2016 
removed revenue replacement duties on CARICOM goods, and increased the scope of goods 
subject to excise duties. Following these changes, the border taxes are im port tariffs, revenue 
replacement duties, and an environmental tax. These taxes are not applied on domestically 
produced goods or services; they are applied on imports from non -CARICOM countries only. Some 
taxes are collected on both domestically produced goods and services, and on imported ones; they 
include the general sales tax (GST) and excise duties ( Section 3.3.1).  
3.32.   Statutory Instrument No. 37 of 2016 stipulated that, from 1 April 2016, RRDs would be  
collected on imports from non -CARICOM countries. At  the HS 8 -digit level, 109 items  – including 
meats, flour, jam and jellies, fruit juices, ice cream, waters, beer and other fermented beverages, 
cigarettes, building blocks, jewellery, pearls, and aluminium structures  – are subject to RRDs. Most 
items car ry ad valorem  RRDs, with rates ranging from 5 % to 50% (Table A3.1). The authorities 
indicated their intention to remove RRDs on imports from the EU in 2018.  
3.33.   The environmental tax is levied on goods imported into Belize from non -CARICOM countries, 
while dom estic goods are not subject to such tax. For vehicles with over four cylinders, this tax is 
applied at a rate of 5%; for fuel products, the tax is BZ$0.18 per imperial gallon; and for all other 
goods, the tax is applied at a rate of 2%.17 Some goods are exe mpted from this tax, such as some 
basic food stuffs, medicines and medical supplies for human use.18 
3.34.   There is significant transit activity through Belize's free zones into neighbouring countries. 
In accordance with the Customs Regulation Act, and the relate d Goods in Transit (Administration 
Charges) Order, an administration fee is levied on goods in transit, and imported into export 
processing zones (EPZs), at a general rate of 1.5% of the c.i.f. customs value, with particular rates 
for: 
a. whiskey and other po table spirits (BZ$1.50 per gallon);  
b. wine and beer (2%);  
c. cigarettes (BZ$1 per 1,000 cigarettes);  
d. fresh fruit and vegetables and spices (1%);  
e. and lumber (1.5%).  
3.35.   A similar social fee is collected on imports into free zones: for cigarettes and alcoholic 
bever ages, the fee is collected at a rate of 6% on the c.i.f. customs value of the imports; for fuel, 
the fee is collected at a rate of 10%; and for general merchandise, the fee is collected at a rate of 
1.5%.  
3.36.   Furthermore, Customs is also responsible for collec ting a number of fees at the border. 
These include: repacking fees (for warehouses), extra service fees (for overtime at private 
warehouses), small expenses, revenue seizures (fines for customs infractions), and warehouse 
fees (Table 3.7).  
                                                
15 WTO document G/SP/7, 24 October 1994.  
16 The stamp duty has been repealed.  
17 Environment Tax (Amendment) Act, 2009.  
18 BCCI Trade and Investment Zone online information. Viewed at: http://www.belize.org/tiz/customs -
and-duties  [27/07/16].  WT/TPR/S/ 353 • Belize  
 
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  Table 3.7 Taxes and fees collected at the border, fiscal year 2015 -16 
(BZ$)  
 Type of taxes  Value  Share (%)  
Border taxes  Import tariffs  189,896,685.41  43.1 
 RRDs  15,421,962.43  3.5 
 Environmental tax  31,274,740.45  7.1 
 Export tax  28,745.20  0.01 
Internal tax collected at the border  GST 168,130,183.72  38.2 
 Excise duties  23,022,602.21  5.2 
Other  Administration fee  908,976.50  0.2 
 Social fee  11,105,317.35  2.5 
 Repacking fee  77,861.48  0.02 
 Extra service fee  103,347.12  0.02 
 Small expenses  8,088.75  0.00 
 Revenue seizures  287,913.56  0.07 
 Warehouse fee  234,385.73  0.05 
Note:  Taxes collected at Customs Headquarters, Phillip Goldson International Airport, Benque Viejo Border, 
Santa Elena Border, Punta Gorda, and Big Creek.  
 
Source:  Information provided by Belize Customs.  
3.1.4   Import prohibitions, restrictions, and licensing  
3.37.   Import prohibitions, as listed in the Customs Regulation Prohibited Goods Order and the 
Customs Regulation (Prohibited and Restricted Goods) (Consolidation) Or der19, are applied mainly 
for the protection of human and animal health, human safety, public morals, and prevention of 
counterfeit. Since the previous Review, there has been no change to the products prohibited from 
importation (Table 3.8).  
Table 3.8 Import prohibitions  
Legislation and prohibited product s 
Prohibited Goods Order  
 Shaving brushes manufactured in Japan  
Various tobacco parts and products unless mixed with ingredients that render 
them, in the opini on of the Comptroller of Customs , unfit for use , except for 
industrial or horticultural purposes  
Indecent, obscene, seditious or inflammatory materials  
Base or counterfeit coins  
Customs Regulation 
(Prohibited and 
Restricted 
Goods)(Consolidation) 
Order, 19 88 (amended 
in May 2008)  
 Animals or any specific kind thereof or their carcasses, fodder, litter, dung or 
other similar items , the importation of which is prohibited by the Minister 
under the Animals (Disease and Importation) Act to prevent the introducti on 
and spread of disease  
Any infringing copy of a work, whether printed, audio, video or other, in which 
copyright subsists, or places or other devices for making such infringing copies  
Articles of food intended for human consumption which, in the opinion of the 
Director of Health Services, are unfit for purpose  
Books, pamphlets, leaflets, other printed literature, photographs, paintings, 
caricatures, audio or video tapes or any other type of printed, sound or visual 
media capable of suggesting words or ide as, which are, in the opinion of the 
Minister, contrary to the public interest  
Counterfeit coins or currency of Belize or of any other country  
Fictitious postage stamps and any die, plate, instrument or materials capable 
of being used to make any such stam ps 
Firearms having a disguised appearance, in particular any pistol or other 
apparatus in the form of a stylographic pen or pencil and any shot or cartridge 
                                                
19 Customs online information. Viewed at: 
http://www.cdn.gov.bz/customs. gov.bz/download/RestrictedandProhibitedGoods.pdf  [19/08/2016].  WT/TPR/S/ 353 • Belize  
 
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  Legislation and prohibited product s 
for such a pistol or apparatus  
Gold or silver in the form of ingots, bars, sheets, coins or other s uch forms and 
bearing assay marks purporting to be of British or of other foreign 
manufacture but which are below the standard indicated by the marks  
Indecent or obscene prints, paintings, photographs, books, cards, lithographic 
or other engravings or any  other indecent or obscene articles or matter  
Knives automatically released from walking sticks, flick knives, flick guns and 
gravity knives  
Pesticides listed in Schedule IV of the Pesticides Control Act  
Pipes or other utensils for use in connection with t he smoking of opium or any 
other articles used in connection with the preparation of opium for smoking  
Raw opium, cocoa leaf, Indian hemp (includes cannabis), prepared opium, 
poppy straw, mescaline and other dangerous drugs and psychotropic 
substances as d efined and prohibited in the Dangerous Drugs Act or under 
regulations made thereunder  
Any other goods the importation of which is prohibited by any law or 
regulation  
Domestic refrigerators and freezers, industrial refrigeration units, commercial 
refrigerat ion units (including display cabinets, bottle coolers and soda 
fountains), and air conditioning units for domestic, commercial and industrial 
use, or vehicular air conditioning units using CFC -12 (Dichlorofluromethane) as 
the refrigeration gas, with effect  from 1 January 2003  
Aerosols, foams and solvents made of, or containing a mixture of, any of the 
following ozone depleting substances: CFC -11, CFC -12, CFC -13, CFC -14, CFC -
115, with effect from 1  January  2003 
Disposable cans of less than sixteen ounces con taining CFC, with effect from 
1 January 2003 
The refrigerant gas CFC -11, with effect from 1 July 2002  
Halon -based fire -fighting equipment, with effect from 1 July 2002  
Ephedrine  
Source:  TPR of Belize, 2010.  
3.38.   Import permits and import licences are required for a range of products. Belize has not 
made any notifications under the WTO Agreement on Import Licensing Procedures, nor has it 
replied to the Questionnaire on Import Licensing Procedures.  
3.39.   Belize has maintained its extensive and largely discretionary imp ort licensing regime, which 
is based on:  
- the Supplies Control (Import/Export) Regulations and the Guidelines for the Approval 
  of Supplies Control (Import /Export) Licence s; 
- the Customs Regulation (Prohibited and Restricted Goods) (Consolidation) Order ; and  
- the Prohibited Goods Order.  
3.40.   Statutory Instrument No.  72 of 2012 amended the Supplies Control (Import/Export) 
(Amendment) Regulations, and introduced significant changes to the list of products with import 
licensing requirements (Table 3.9). The aut horities indicated that half of the products with 
licensing requirements were removed from the list. From September 2012, goods requiring an 
import licence include: live animals, meat and edible offal, dairy produce, edible vegetables, 
certain roots and tu bers, edible fruits, cereals, flour, oil seeds, sugar, beverage spirits and vinegar, 
prepared animal fodder, mineral fuels, oil and oil products, bituminous substances, mineral waxes, 
wood and wood articles.  WT/TPR/S/ 353 • Belize  
 
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  Table 3.9 Goods requiring an import licence prior to importation  
Item  HS07 
number  Description of product  
Live animals  01.05  Live poultry: fowls of the species Gallus domestic us, ducks, 
geese, turkeys and Guinea fowls (excluding baby chicks)  
Meat and edi ble offal  02.01  Meat of bovine animals, fresh or chilled  
 02.02  Meat of bovine animals, frozen  
 02.03  Meat of swine, fresh, chilled, or frozen  
 02.07  Meat and edible offal, of fowls of the species Gallus domestic us 
(heading No.  01.05), fresh, chilled or  frozen  
 0210.11  Hams, shoulders and cuts thereof, with bone in  
 0210.12  Bellies (streaky) and cuts thereof  
 0210.12.10  Bacon  
Dairy products, birds' 
eggs, edible products of 
animal origin  04.01  Milk and cream, not concentrated, not containing added su gar or 
other sweetening matter  
 0407.00.10  Hatching eggs, for breeder flock, of the species Gallus 
domestic us 
 0407.00.20  Hatching eggs, not for breeder flock, of the species Gallus 
domestics  
 0407.00.30  Other fresh eggs  
Edible vegetables  07.01  Potatoe s, fresh or chilled  
Certain roots and tubers  0702.00  Tomatoes, fresh or chilled  
 0704.10.10  Cauliflowers, fresh or chilled  
 0704.90.10  Cabbages, fresh or chilled  
 0705.11.00  Cabbage lettuce (head lettuce), fresh or chilled  
 0705.19.00  Other lettuce, f resh or chilled  
 0706.10.10  Carrots, fresh or chilled  
 0708.20.00  Beans: dried, shelled, whether or not skinned or split  
 0708.20.90  Other beans  
 0709.60.10  Sweet peppers, fresh or chilled  
 0709.60.90  Other peppers, fresh or chilled  
 0709.90.40  Sweet  corn (corn on the cob), fresh or chilled  
 0710.10.00  Potatoes (uncooked or cooked by steaming or boiling in water), 
frozen  
 0710.80.30  Carrots (uncooked or cooked by steaming or boiling in water), 
for use in industry, frozen  
 0710.80.40  Other carrots ( uncooked or cooked by steaming or boiling in 
water), frozen  
 0710.80.80  Other vegetables (uncooked or cooked by steaming or boiling in 
water), for use in industry, frozen  
 0710.80.90  Other vegetables (uncooked or cooked by steaming or boiling in 
water), frozen  
 0713.33.10  Red kidney beans  
 07.14  Manioc, salep, Jerusalem artichokes , sweet potatoes, and similar 
roots and tubers with high starch or inulin content, fresh, chilled, 
frozen or dried, whether or not sliced or in the form of pellets; 
sago pith ( excluding arrowroot of HS No. 0714.90.10)  
Edible fruits  0804.30.00  Pineapples, fresh  
 08.05  Citrus fruit, fresh or dried  
 0807.11.00  Watermelons, fresh  
 0807.19.10  Cantaloupes, fresh  
 0807.19.20  Muskmelons, fresh  
Cereals  10.05  Maize (corn)  
 10.06  Rice  
Products of the milling 
industry  1102.20.00  Maize (corn) flour  
Oil seeds  12.01  Soya beans, whether or not broken  
Oleaginous fruits    WT/TPR/S/ 353 • Belize  
 
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  Item  HS07 
number  Description of product  
Miscellaneous grains    
Preparations of meat  16.02  Other prepared or preserved meat, meat offal or blood, except 
goods classified under heading HS No.  1602.10.20.00, 
1602.49.10.00 (canned only), and 1602.50.10.00  
 1601.00.20  Other chicken sausages (except canned)  
 1601.00.30  Salami sausages (except canned)  
 1601.00.90  Other sausages (except canned)  
Sugar and sugar  
confectionary  17.01  Cane and beet sugar and chemically pure sucrose in solid form, 
excluding icing sugar of HS No.  1701.99.10  
 17.03  Molasses resulting from the extraction or refining of sugar  
Preparations of 
vegetables, fruits, nuts  2007.91.10  Citrus f ruit puree and fruit paste, not in retail  
Other parts of plants  2008.30.00  Citrus fruit, otherwise prepared or preserved, whether or not 
containing added sugar or spirit, not elsewhere specified or 
included  
 20.09  Orange juice, unfermented and not contai ning added spirit, 
whether or not containing added sugar or other sweetening 
matter, excluding HS No.  2009.12.10, 2009.19.10  
 2009.21  Grapefruit juice, unfermented and not containing added spirit, 
whether or not containing added sugar or other sweetening 
matter, excluding HS No.  2009.21.10  
 2009.31.00  Juice of any other single citrus fruit, unfermented and not 
containing added spirit, whether or not containing added sugar 
or other sweetening matter, excluding HS No.  2009.31.12, 
2009.31.21  
 2009.90.20  Other mixture of grapefruit and orange juice  
Beverage spirits and 
vinegar  22.02  Waters, including mineral waters, aerated waters, containing 
added sugar or other sweetening matter or flavoured, and other 
non-alcoholic beverages, not including fruit or vegeta ble juice of 
heading 20.09  
 22.03  Beer made from malt  
Prepared animal fodder  2309.90.30  Poultry feed  
 2309.90.40  Cattle feed  
 2309.90.50  Pig feed  
Mineral  oils 2710.11.30  Motor spirit: gasoline  
Oil and products of their 
distillation  2710.11.31  Gasolin e 90 octane or more (premium)  
Bituminous substances  2710.19.20  Kerosene  
Mineral waxes  2710.31.00  Diesel  
 27.11  Petroleum gases and other gaseous hydrocarbons  
Wood and articles of wood  44.07  Wood sawn or chipped lengthwise, sliced or peeled, whether o r 
not planed, sanded or finger -jointed, of a thickness exceeding 
6 mm 
 44.09  Wood (including strips and friezes for parquet flooring, not 
assembled) continuously shaped (tongued, grooved, rebated, 
chamfered, V -jointed, beaded, moulded, rounded or the like ) 
along any of its edges or faces, whether or not planed, sanded or 
finger -jointed  
 4414.00.00  Wooden frames for paintings, photographs, mirrors or similar 
objects, not mounted  
 44.20  Wood marquetry and inlaid wood; cases for jewellery or cutlery, 
and si milar articles, of wood; statuettes and other ornaments, of 
wood; wooden articles of furniture not falling in Chapter 94 
(excluding caskets)  
Furniture, mattress es 9401.61.00  Upholstered seats with wooden frames  
Supports  9403.30.00  Wooden furniture of a kind used in offices  
 9403.40.00  Wooden furniture of a kind in the kitchen  
 9403.50.00  Wooden furniture of a kind used in the bedroom  
 9403.60.90  Other wooden furniture  
Source:  Supplies (Control) (Import/Export) (Amendment) Regulations, 2012.  WT/TPR/S/ 353 • Belize  
 
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  3.41.   The Custo ms Regulation (Prohibited and Restricted Goods) (Consolidation) Order also lists 
some products with import licensing requirements, mainly for the purposes of national security, 
public health and safety, sanitary and phytosanit ary measures, and preservation  of cultural 
heritage or the environment. Under the Prohibited Goods Order, licences are required for various 
dyestuffs produced or manufactured outside the Commonwealth (Table 3.10).  
Table 3.10 Import licensi ng 
Product  
Customs Regulation (Prohibited and Restricted Goods) (Consolidation) Order  
Certain animals, birds, reptiles and insects  
Antibiotics, except those manufactured by a pharmaceutical firm approved by the Minister and only by the 
holder of a licence  to import antibiotics  
Antiques, artefacts, ancient monuments and other articles of archaeological value or interest  
Apparatus or component part s thereof for transmission by radio waves (permit)  
 
Any goods which bear a design in imitation of any currency or bank note or coin in use in Belize or in any 
other country (permit)  
Currency, bank or other notes which are or have, at any time, been legal tender in Belize; any certificates of 
title to any security, including such certificates which have been cancell ed; treasury bills; and any other item 
prohibited from being imported by Part IV of the Exchange Control Regulations (permit)  
Bees, honey or bee -keeper's stock (permit)  
Firearms and ammunition, including guns of all types, but excluding those of the type s pecified and any 
apparatus resembling or capable of being mistaken for a firearm  
 
Herbs or plants for use as a drug or medicine (permit)  
Gunpowder, nitro -glycerine, dynamite, gun cotton, blasting powder, detonators and other explosives as 
defined in secti on 28 of the Dangerous Goods Act  
Importation in transit of military, naval or aerial warfare type of arms and ammunition, military or naval 
stores, aircraft of any type, military communications equipment, patrol vessels whether armed or unarmed, 
landing cr aft and other vessels of military utility and any other combat or non -combat military equipment 
(permit)  
 
Medicinal dangerous drugs as defined in the Dangerous Drugs Act  
Military, naval or aerial warfare type of arms and ammunition (permit)  
Pesticides, re gistered or restricted under the Pesticides Control Act and listed in Schedules II or III 
respectively of that Act  
Plants, vegetables organisms, packages, animals, and animal organisms likely to cause infection to or which 
are inimical to the growth of pla nts (permit)  
Weapons designed for the discharge of noxious liquid, gas or other thing or any ammunition containing or 
designed or adapted to contain any such noxious thing (permit)  
Wild animals, that is, animals other than those kept in a domesticated stat e except on a licence issued under 
the Wild life Protection Act  
Gaming machines (including arcade machines, poker machines and slot machines) (permit)  
Gases that are ozone depleting substances of (a) the chloroflorocarbons (CFC) family, namely (CFC -11; 12; 
113; 114 and 115) and (b) the Halon family, namely Halon 1211; 1301 and 2402  
Used tyres  
Lead acidic batteries  
 
Prohibited Goods Order  
Various dyestuffs produced or manufactured outside the Commonwealth  
Source:  WTO document, WT/TPR/S/238/Rev.1.  
3.42.   According to online information  of the Belize Chamber of Commerce and Industry (BCCI ), 
licences are automatic for the importation of furniture in non -commercial quantities, and for 
"unique wooden articles" for the tourism industry. According to the authorities, most  licences are 
automatic.  
3.43.   Licences are granted by the Supplies Control Unit (SCU) of the Ministry of Economic 
Development, Petroleum, Investment, Trade and Commerce. There is no licensing fee or 
administrative charge. Licences are granted for each shipment  and cannot be transferred between 
importers. Imports into export processing zones and free zones do not require a licence. Imports 
from CARICOM countries are generally exempt from import licences, except aerated beverages 
and beer from CARICOM MDCs. Impor t licences are granted automatically to Guatemala for 
products covered by the Partial Scope Agreement.  WT/TPR/S/ 353 • Belize  
 
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  3.44.   The Supplies Control Unit introduced a virtual licence application system in 2015, which 
greatly reduced transaction costs, and improved efficiency and t imeliness. The SCU is currently 
seeking to pilot a web interface platform to allow for the virtual communication between the SCU 
and ASYCUDA.  
3.1.5   Contingency measures  
3.45.   Belize notified the WTO that it has not established a competent authority to initiate or 
conduct any anti -dumping or countervailing investigations, and has not taken any anti -dumping or 
countervailing actions.20 
3.46.   The authorities stated that the safeguard mechanism in Belize is based on the Revised 
Treaty of Chaguaramas. Belize notified the WTO in 20 14, and confirmed in November 2016 that, 
up to now it has no laws, regulations or administrative procedures relating to safeguard measures 
within the meaning of Article 12.6 of the Agreement on Safeguards and thus has not, to date, 
conducted any investigat ions of serious injury.21 
3.47.   Belize is waiting for the development of a more uniform CARICOM approach on contingency 
measures.  The Revised Treaty of Chaguaramas allows CARICOM members to take anti -dumping 
actions against imports from other members, and it cont ains provisions on subsidies and 
countervailing measures. Belize has not taken any anti -dumping action s against other CARICOM 
members, and no anti -dumping action s have been initiated by other CARICOM members against 
Belize. As Belize has no domestic legisl ation in place on subsidies, it may not take action against 
subsidized imports from another CARICOM member. Belize's Trade Policy Framework, approved by 
Cabinet in 2015 and launched in July 2016, stipulated that Belize reserves the right to develop its 
national legislative and institutional framework on contingency measures.  
3.1.6   Standards and other technical requirements  
3.48.   Belize's national enquiry point for issues related to standards and technical requirements 
under the Agreement on Technical Barriers to Trade  (TBT) is the Belize Bureau of Standards 
(BBS). Since its last review, Belize has submitted its statement on the implementation and 
administration of the TBT Agreement as well as four draft technical regulations and a draft law on 
consumer protection to th e TBT Committee.22 The notification concerning the adoption of the Code 
of Good Practice for the Preparation, Adoption and Application of Standards by the BBS is still 
pending.  
3.49.   The BBS, established under the Standards Act (Revised Edition 2000), has respons ibility for 
the development of Belize's national quality infrastructure. This includes matters related to 
standards, metrology, conformity assessment procedures (sampling, testing, inspection, 
calibration and certification), accreditation, and consumer pro tection. There is no specific law for 
the protection of consumers but a draft Consumer Protection Bill has been submitted to the 
Solicitor General's Office for examination.23 
3.50.   The National Metrology Act (2003) mandates the BBS to regulate all matters pertain ing to 
weighing and measuring devices used for trade and industry in Belize. Currently, metrology 
services offered in Belize are limited to the verification of such devices. However, the BBS is in the 
process of modernizing its legal framework and building  metrology laboratories in Belmopan, which 
will enable the BBS to provide internationally recognized calibration services to public and private 
sector entities.24 The authorities expect that the new laboratories will be operational by mid -2017.  
                                                
20 WTO documents, G/ADP/N/193/BLZ, 22/04/2010; G/SCM/N/202/BLZ, 11/03/2014.  
21 WTO document, G/SG/N/1/BLZ/1, 6 /03/2014. 
22 WTO documents G/TBT/2/Add.104, 20 August 2010; G/TBT/N/BLZ/1, 23 Septemb er 2010; and 
G/TBT/N/BLZ/2 – 5, 28 October 2011.  
23 The Solicitor General's Office is responsible for drafting laws on behalf of the Government of Belize.  
24 The new laboratory facilit ies are funded through grant s from the European Union's  Belize Rural 
Devel opment Project II . They will be equipped to measure  various metrology magnitudes including grand 
mass, fine mass, volume, temperature, pressure and dimension . WT/TPR/S/ 353 • Belize  
 
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  3.51.   Under the St andards Act, the BBS 's main responsibility is the preparation, promotion and 
implementation of standards, technical regulations and codes of practice in relation to goods, 
services and processes. This is done in collaboration with other government departme nts such as 
the Belize Agricultural Health Authority, the Ministry of Agriculture and Fisheries, and the Ministry 
of Health. Within the BBS framework, a Standards Advisory Council (SAC), comprising 
representatives from the public and private sectors, has t he function of advising the Minister on all 
matters pertaining to standardiz ation.25 In addition, a technical committee (TC)  is appointed to 
assist in preparing draft standards and considering public comments received on such drafts. 
These technical committ ees include experts, persons with experience in the manufacture and use 
of the products affected by the standards, consumer and industry representatives, and 
government departments. To date , three technical committees have been established for tourism 
and related services, fuels and lubricants, and food and food -related products.  
3.52.   Since its last review, Belize has developed an internal outline with timeframes for each of 
the stages of its standards -setting process. These stages are described in Table 3.11. Public 
notices of draft standards are published in at least two local newspapers and the Official Gazette  
as prescribed by law, and on one media channel according to best practices. The authorities 
indicated that, at this stage, the draft technical regulat ion is also notified to the WTO. A period of 
three months from the date of notice is provided for comments from stakeholders and the general 
public. At the time of this review, Belize had not developed any conformity assessment procedures 
for non -food item s. 
Table 3.11 Stages for the development and publication of technical regulations and 
standards  
Stage name  Description  Maximum time 
limit 
Preliminary stage  Persons or companies wishing to propose a new standa rd must 
submit a formal request for the development of a standard to 
the BBS. The request is then processed using  the prescribed 
forms issued by the BBS.  One month  
Proposal stage  Once the proposal is processed, the project is submitted to the 
Standards Ad visory Council (SAC) for authorization to proceed.  One month  
Preparatory stage  Officers from the BBS prepare a working draft and a project 
schedule based on a work programme template.  Three months  
Committee stage  The working draft is circulated to TC me mbers who must agree 
on its technical content.  Six months  
Enquiry stage  The working draft is then published for comments from the 
stakeholders and the general public, and notified to the WTO. 
These comments are taken into consideration and the draft 
standard is revised as necessary. The TC votes to approve the 
final draft.  Three months  
Approval stage  The final draft standard is submitted to the SAC for approval. 
Once approved by the SAC:  
 a voluntary standard is signed by the Chair of the SAC 
and the Dire ctor of BBS ;  
 a technical regulation is submitted to the Minister 
responsible for the BBS with the recommendation that 
the standard be compulsory.  Two months  
Publication stage  The standard is forwarded for final editing and publishing. 
Technical regulati ons are  published in the Official Gazette  via a 
Statutory Instrument (SI).  Two months  
Review stage  The standard or technical regulation is reviewed to keep it up -
to-date and technically valid and to determine whether it needs 
to be revised, amended, withd rawn or reaffirmed.  No specified time  
Source:  The Belize Bureau of Standards.  
                                                
25 The SAC is composed of representatives from  the following entities: Ministry of Finance, Public  
Service, Energy and Public Utilities ; Ministry of Natural Resources and Immigration ; Ministry of Health ; Ministry 
of Works  and Transport ; Ministry of Tourism and Civil Aviation ; BELTRAIDE ; Directorate General for Foreign 
Trade ( MEPITC);  Department of the Environment ; Belize Agricultur al Health Authority (BAHA) ; Citrus Products 
of Belize Limited (CPBL) ; Belize Chamber of Commerce and Industry (BCCI) ; Belize Marketing and 
Development Cor poration ; and American Sugar Refining –Belize Sugar Industry Limited (ASR -BSI). WT/TPR/S/ 353 • Belize  
 
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  3.53.   In 2014, the BBS completed work on a National Standardization Programme which seeks to 
develop standards and technical regulations for goods and services in key economic sector s over a 
period of five years (2015 -2020). The programme was released in 2016. The key sectors are 
wholesale and retail, manufacturing, agriculture, tourism, electricity and water supply, 
construction, petroleum, transportation and communication. They were  selected taking into 
account their contribution to GDP and export earnings and their alignment with national 
development policies, strategies and action plans.26 The Programme envisages the establishment 
of new technical committees, including in the areas of: transportation and road safety; renewable 
energy and energy efficiency; and medical and industrial gases. The new committees are expected 
to be operational in the first quarter of 2017.  
3.54.   Belize currently has 10 voluntary standards and 23 technical regu lations, mostly in the area 
of agriculture (Table 3.12 ). There are five codes of practice. The BBS website provides a partial list 
of Belize's technical regulations and standards; however it does not provide direct access to the 
actual documents containing  such technical regulations and standards. Since its last review, Belize 
has developed seven technical regulations and two standards. The goods subject to technical 
regulations include agricultural products; food and food -related products; industrial -chemi cal 
products; engineering -mechanical products; petroleum products; and tourism. The authorities 
have indicated that the technical regulations are all based on CARICOM, CODEX or ISO standards , 
except for the C ode of Practice for the Preparation and Sale of Street -Vended Foods . 
Table 3.12 Belize's  technical regulations and standards  
Code  Title Statutory instruments  
Technical Regulations  
BZS 1 (1998)  Part 1: Belize Standard: Specification for Labelling – 
General  Principles  SI No. 116 of 1999  
BZS 1 (1998)  Part 2: Belize Standard: Specification for Labelling: 
Labelling of Pre -packaged Goods  SI No. 117 of 1999  
BZS 1 (1998)  Part 3: Belize Standard: Specification for Labelling: 
Labelling of Pre -Packaged Food  SI No. 118 of 1999  
BZS 1 (1998)  Part 4: Belize Standard: Specification for Labelling: 
Labelling of Retail Packages of Cigarettes  .. 
BZS 1 (2007)  Part 5: Belize Standard: Specification for Labelling: 
Labelling of Brewery Products  SI No. 97 of 2007  
BZS 1 (2012)  Part 7: Belize Standard: Specification for Marking and 
Labelling of Gas Cylinders  .. 
BZS 2 (1998)  Belize Standard: Specification for Wheat Flour  
BZS 2: 2007 (Revised)  SI No. 97 of 2007  
BZS 8 (2001)  Belize Standard: Specification for Liquid Household 
Chlorine Bleach  SI No. 19 of 2001  
BZS 10 (2002)  Belize Standard: Specification for Bottled/Packaged Water  SI No. 3 of 2003  
BZS 12 (2004)  Belize Standard: Specification for Potato es SI No. 125 of 2004  
BZS 13 (2004)  Belize Standard: Specification for Onion s SI No. 126 of 2004  
BZS 15 (2007)  Belize Standard: Specification for Rum  SI No. 98 of 2007  
BZS 16 (2007)  Belize Standard: Specification for Carbonated Beverages  SI No. 93 of 2007  
BZS 17 (2007)  Belize Standard: Specification for Salt  SI No. 95 of 2007  
BZS 18 (2007)  Belize Standard: Specification for Brewery Products  SI No. 99 of 2007  
BZS 20 (2007)  Belize Standard: Rice – Specification, Sampling, Testing 
and Analysis (Revised 2015)  SI No. 58 of 2016  
BZS 21 (2012)  Belize Standard: Specification for Li quefied Petroleum Gas  SI No. 12 of 2011  
BZS 22 (2012)  Belize Standard: Specification for Inspection, Testing and 
Requalification of Portable Containers for Liquefied  
Petroleum Gas  SI No. 12 of 2011  
BZS 23 (2012)  Belize Standard: Specification for Filling , Handling, 
Storage, Transportation and Location of Portable Cylinders 
for Liquefied Petroleum Gas  SI No. 12 of 2011  
BZS 26 (2014)  Belize Standard For Health And Safety Of Archaeological 
Reserves And Parks  .. 
BZ CP 4 (2007)  Belize Standard: Code of Hygie nic Practice for Packaged 
Water  .. 
BZ CP 5 (2016)  Recreational scuba diving services  SI No. 57 of 2016  
                                                
26 Belize National Standardization Programme is based on the template of the ISO methodology . The 
methodology is explained at: http://www.iso.org/iso/home/store/s tandards_development_publications.htm . WT/TPR/S/ 353 • Belize  
 
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  Code  Title Statutory instruments  
Standards  
BZS 4 (1999)  Specification for Whole Chicken (Eviscerated) and Chicken 
Parts n.a. 
BZS 5 (1999)  Definitions for Terms Used in the Pneumatic  Tyres 
Industry  n.a. 
BZS 6 (1999)  Specification for Pneumatic Passenger Car Tyres  n.a. 
BZS 7 (1999)  Specification for Biscuits  n.a. 
BZS 11 (2004)  Specification for Honey  n.a. 
BZS 14 (2007)  Specification for Liquid Whole ( Cow's) Milk  n.a. 
BZS 19 (2007)  Standard specification for Grading and Quality 
Requirements for Table Eggs  n.a. 
BZ CP 1 (1999)  Part 1 - Code of Practice for Storage of Tyres, Inner Tubes 
and Flap  n.a. 
BZ CP 2 (2002)  Code of Practice for Preparation and Sale of Street -
Vended Foods  n.a. 
BZ CP 3 (2002)  Code of Practice for Fresh Meat  n.a. 
.. Not available.  
n.a. Not applicable.  
Source:  Belize Bureau of Standards.  
3.55.   There are three technical regulations concerning specifically the labelling of food: general 
principles, pre -packaged foods , and brewery products, all of which have been developed through 
CARICOM'S standards process. Labels on all processed food products must be in English and 
contain the following information: name of the food or product; brand name; ingredients; net 
contents; n ame and address of the manufacturer; country of origin; date of marking; batch/lot 
number/code; and directions for proper use and storage. Pre -packaged processed food products 
labelled in English in accordance with the laws or standards in force in Canada,  the Caribbean 
Community, the European Union, and the United States are deemed to comply with Belizean 
labelling standards.27 Other technical regulations related to labelling are provided for in product -
specific legislation such as the Food and Drugs Act (C hapter 291), which sets out additional 
labelling requirements for some dairy products; and the Supplies Control Regulations (Chapter 
293S), which established additional labelling requirements on imports of certain alcohol and 
tobacco products. Labelling of  cosmetics and pharmaceutical products is regulated by the Ministry 
of Health.  
3.56.   In February 2016, the BBS implemented a new technical regulation for the packaging of 
rice, according to which all rice for retail sale must be pre -packaged and marked clearly w ith an 
expiration date and a manufacturing date. The new regulation also requires manufacturers to state 
the grade of the rice and the amount being packaged.28 
3.57.   There are no accredited testing laboratories in Belize. However, the Belize Agricultural 
Health A uthority (BAHA), a public laboratory, and the Citrus Research and Education Institute 
(CREI), a private laboratory facility, are currently implementing ISO 17025 to carry out tests, 
calibrations and sampling. Both are seeking international accreditation. A s regards food products, 
BAHA assists with the implementation of certification programmes, including Good Manufacturing 
Practices (GMP) and Hazard Analysis and Critical Control Points (HACCP), and also conducts risk 
analysis and inspection for food safety purposes. Due to lack of resources and the absence of any 
internationally accredited laborator ies in Belize, the BBS's ability to verify compliance with 
standards is limited. Where possible, conformity checks are carried out after imports have cleared 
customs. 
3.58.   The BBS is a member of the Codex Alimentarius Commission, the Pan American Standards 
Commission (COPANT), and the International Telecommunications Union (ITU). It also participates 
in the International Electrotechnical Commission Affiliate Programme, and as a member of 
CARICOM, in the Inter -American Metrology System.29 In 2015, Belize became a subscriber 
                                                
27 Belize Specification for Labelling: Labelling of Pre -packaged Food, Statutory Instrument No. 118 of 
1999. FAO online information. Viewed at: http://faolex. fao.org/docs/pdf/blz19762.pdf . 
28 Statutory Instrument No. 17 of 2016.  
29 CARICOM has been an associate member of the General Conference of the Inter -American Metrology 
System since 2005.  WT/TPR/S/ 353 • Belize  
 
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  member of the International Organization  for Standard ization  (ISO), which entitles it to receive 
up-to-date information without participating in the wo rk of the organization. The BBS recently 
achieved certification in ISO 9001:2008 for organizational quality management systems and is 
now pursuing accreditation in ISO/IEC 17025:2005 for testing and calibration as it seeks to 
provide internationally recogn ized calibration and testing services.  
3.59.   Belize is also a member of the CARICOM Regional Organization for Standards and Quality 
(CROSQ), created in 2002. CROSQ is, inter alia , mandated to establish and harmonize standards 
and technical regulations within CAR ICOM, and to promote the mutual recognition of conformity 
assessment procedures covering goods and services produced or provided in CARICOM as well as 
the accreditation and certification system based on internationally accepted criteria. The CROSQ 
Secretar iat is located in Barbados.  
3.60.   Interested entities in CARICOM member States may submit a request to develop a regional 
standard to the CROSQ through their national standards body. Standards and technical regulations 
are drafted by regional technical committee s within the CROSQ. Then they are submitted for 
comments and voting by member States, and thereafter forwarded to the Council of the CROSQ 
for adoption. Participation in committee work is open to all interested parties. The Council 
comprises the executive heads of the respective national standards bodies. Standards and 
technical regulations adopted by the CROSQ are then recommended to the CARICOM Council for 
Trade and Economic Development (COTED) for approval as a regional standard; thereafter 
CARICOM gover nments must adopt the necessary legal and administrative arrangements to give 
effect to COTED decisions within their jurisdictions.30 Regional standards and technical regulations 
are generally developed within one to two years and are reviewed every three y ears. Of the 23 
technical regulations in force in Belize, 12 are based on CARICOM regional technical regulations; 
there are also two voluntary standards based on CARICOM standards.  
3.1.7   Sanitary and phytosanitary requirements  
3.61.   There have no substantial changes t o SPS policy or legislation since the last review. In 
2011, draft laws on animal health, plant protection, and food safety and hygiene were prepared 
but, at end -2016, had not become law . In 2016, a national food safety policy was being 
developed.  
3.62.   Belize's national enquiry point for issues related to sanitary measures under the SPS 
Agreement is the Belize Agricultur al Health Authority (BAHA), and the notifications authority is the 
Directorate General for Foreign Trade. In 2011 , Belize made eight notification s to the SPS 
Committee: three related to bovine spongiform encephalopathy; one related to  the regulation for 
an animal identification system; one related to  the regulation for the eradication of bovine 
tuberculosis; one related to the draft Animal Health B ill; one related to  the draft Plant Protection 
Bill; and one related to the draft Food Safety and Food Hygiene Rules Bill.31 At end -2016, the three 
draft bills were awaiting approval for submission to the Cabinet.  
3.63.   Since the last review, Belize has used the SPS Committee to raise concerns related to the 
accreditation of third -party bodies to conduct food safety audits and to issue certifications in the 
United States.32 Belize has also used the SPS Committee to inform Members of its concerns related 
to private standards, as well as to inform Members of its technical cooperation needs and the 
assistance provided to meet these needs. In 2009, the WTO's Standards and Trade Development 
Facility included Belize in a film about the steps taken in several countries to address SPS issues, 
and Belize's success in being recognized as free of Mediterranean fruit fly.33 In addition, Belize is 
free from several major animal diseases and pests . It has  OIE recognized status as free from foot 
and mouth disease without vaccination , it is self-declared free from classical swine fever34, and the 
ongoing surveillance programmes for bovine tuberculosis and brucellosis ( Section 4.1) have not 
shown any positive cases. On the other hand, citrus greening disease had reduced production by 
                                                
30 CROSQ online information. Viewed at: https://www.crosq.org/ . 
31 WTO documents: G/SPS/N/BLZ/2 to 6, 21 June 2011; WT/G/S/BLZ/7 to 9, 20 December 2011.  
32 WTO document G/SPS/R/73, 16 October 2013, paras 3.1 -3.3. 
33 STDF (2009), Trading safe ly: protecting health, promoting development. A new film by the STDF , 
STDF Newsletter, Volume 2,  Issue 2, June.  
34 WTO document G/SPS/GEN/861, 4 July 2008  WT/TPR/S/ 353 • Belize  
 
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  50% since 2009, but since it is the processed product which is traded, the final product has not 
been affected. In addition , vibriosis in shrimp affected shrimp production and Papaya Meleira Virus 
reduced production by 95% and made the industry non -competiti ve (Sections 4.1 and 4.2).  
3.64.   The Ministry of Agriculture, Fisheries, Forestry, Environment and Sustainable Development 
is responsible for SPS policy and preparing draft legislation , while BAHA is responsible for 
implementing the legislation and issuing impo rt permits. BAHA was established under the Belize 
Agricultural Authority Act No. 47 of 1999 with responsibility for all SPS issues, except those 
relating to water.  
3.65.   Within BAHA, there are four principal laboratories: two for animal health, one of which is 
specifically for diagnosis of shrimp diseases; one for plant pest diagnosis; and one for food safety, 
which includes microbial and residue analysis. None of these laboratories are currently accredited 
under ISO/IEC 17025 general requirements for the compete nce of testing and calibration 
laboratories. However, the authorities noted that the four laboratories have been modernized, staff 
have been recruited and trained , and they are working towards accreditation under ISO/IEC 17025 
in 2017. The Food Microbiolog y Laboratory is to be audited by the Jamaican National Agency for 
Accreditation while accreditation of the other BAHA Laboratories will be done through a n 
International Regional Organiz ation for Plant and Animal Health (OIRSA ) Project although no 
accredita tion body had been specifically identified at end -2016.  
3.66.   As specified in the relevant legislation, Belize applies minimum residue levels for biological 
residues in meat and other animal products, and in food additives, as specified by the Codex 
Alimentarius .35 In general, measures adopted by Codex, IPPC or OIE are used and applied to 
domestic as well as imported products.  
3.67.   Permits are required for imports of animals and animal products, plants and plant products, 
veterinary drugs, veterinary biologicals, veter inary pesticides, and supplementary animal feed. All 
applications must be made to BAHA, which liaises with other responsible agencies when necessary. 
Once granted, the permit lists the requirements that must be met for the import to be accepted. In 
additio n to the normal import documentation, these usually include the import permit and a 
sanitary certificate (for animals and animal products) or a phytosanitary certificate (for plants or 
plant products) from the competent authority in the exporting country.36 
3.68.   Fees for the import permit process vary depending on the product – from BZ$25 for animal 
and plant products to BZ$100 for pets. In addition, the importer has to bear the costs of sampling 
and laboratory testing plus inspection and for any other quarantine  costs.37 Under normal 
circumstances, the application process for a frequently imported commodity may take up to seven 
days and the import must comply with the conditions set out in, or attached to the import permit 
plus special permits or licences as reque sted by other relevant authorities.  
3.69.   At the request of the competent authority in the exporting country, BAHA carries out a risk 
analysis in cases where:  
 the commodity in question has never been imported before;  
 the country or region of origin has not yet b een approved;  
 the health status of the country or region of origin or transit has changed or is not known 
to BAHA;  
 there is new information on the particular pest or disease; or  
 it is required that a country or region provides evidence that an export commo dity does 
not present a threat or risk to Belize.  
3.70.   As part of the risk analysis, BAHA, in cooperation with the competent authority of the 
exporting country, carries out site inspections of the companies, processing plants, fields, farms 
                                                
35 CAP. 211, Belize Agricultural Health Authority (Biological Residues)  (Control) Regulations . 
36 USDA F oreign Agricultural Service (2011), Belize – Food and Agricultural Import Regulations and 
Standards – Narrative , GAIN Report Number BH1101, 31 October.  
37 SI No. 182 of 2004, S. 6 and 7, Belize Agricultural Health Authority (Service Fees) Regulations, 2004 . WT/TPR/S/ 353 • Belize  
 
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  and other sites or e stablishments that need to be inspected to evaluate conformity with Belize's 
SPS measures. The fee for a risk analysis is US$500 plus expenses.38 Since 2010, 49 risk 
assessments have been concluded (Table 3.13).  
Table 3.13 Risk assessments completed 2010 -16 
 2010  2011  2012  2013  2014  2015  2016  
Food safety 0 1 2 4 4 5 7 
Plant health 0 0 1 2 3 0 3 
Animal health 4 3 0 1 3 1 5 
Total  4 4 3 7 10 6 15 
Source:  Belize authorities.  
3.71.   At end -2016, the current biosafety p olicy was in the process of being reviewed although any 
change from the current policy of not allowing GMOs in production would require appropriate 
legislation and regulatory capacity as well as additional investment in laboratories and a budget for 
biosaf ety. 
3.72.   All food exporting enterprises are required to be registered with BAHA and comply with the 
guidelines on the Hazard Analysis and Critical Control Point system (HACCP) set out in the 
regulations.39 The registration process requires the enterprise to submit its HACCP plan to BAHA 
followed by a pre -audit by BAHA and, after implementation of the findings from the pre -audit, a 
full audit by BAHA and other relevant authorities. BAHA may then issue a certificate of HACCP 
compliance and a sanitary certificate i f required.40 BAHA has a certification system for compliance 
with the Hazard Analysis and Critical Control Point (Statutory Instrument No. 25 of 2001) for 
processing establishments, for example for the processing  of dairy, meats, poultry and shrimp. A 
draft Standard for Good Agricultural Practices was prepared but only had programmes for small 
vegetable producers on a pilot basis.  
3.2  Measures Directly Affecting Exports  
3.2.1   Export procedures and requirements  
3.73.   As for importers, exporters must obtain an automatically i ssued code from the Customs and 
Excise Department. The d ocuments required are: bill of lading, commercial invoice, customs 
export declaration, packing list (Table 3.1), as well as the Single Administrative Document (C -100 
form), the Exchange Control Regula tion form (XCH2 form), and a n E100 form for exports to the 
EU. When required, export licences, certificates of origin, and phytosanit ary certificates must be 
presented as well. For warehoused goods, exporters must provide a bond  to the Comptroller of 
Custo ms to ensure that the goods will be shipped outside Belize within a reasonable period of 
time. 
3.2.2   Export duties, charges, and levies  
3.74.   The exportation of scrap metal is subject to an export duty levied at  BZ$10 per tonne.  The 
authorities indicated that this exp ort duty and the licensing requirement are to prevent the theft of 
copper wire in telephone lines.  
3.2.3   Export prohibitions, restrictions, and licensing  
3.75.   Since the previous Review, there has been no change to the list of products subject to 
export prohibitions o r licensing requirements, which are regulated under the Customs Regulations 
(Prohibited and Restricted Goods) (Consolidation) Order, and the Supplies Control (Import/Export) 
Regulations.  
                                                
38 S.I. No. 54 of 2004, Belize Agricultural Health Authority (Inspection in a Foreign Country) 
Regulations.  
S.I. No. 182 of 2004, Belize Agricultural Health Authority (Service Fees) Regulations . 
39 CAP. 211, Belize Agricultural Health Authority (Food Safety ) Regulations.  
40 BAHA online information. Viewed at: http://www.baha.org.bz/index.php/general -procedures  
[November 2016].  WT/TPR/S/ 353 • Belize  
 
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  3.76.   Products prohibited from exportation are:  
a. any infringing copy of a wo rk, whether printed, audio, video or other, in which copyright 
subsists, or plates or other devices or means for making such infringing copies;  
b. arms and ammunition of all kinds;  
c. raw opium, cocoa leaf, Indian hemp (includes cannabis), prepared opium, poppy straw, 
mescaline and other dangerous drugs and psychotropic substances, as defined and 
prohibited in the Misuse of Drugs Act; and  
d. lumber of any dimensions produced from ziricote trees.  
3.77.   Export products requiring a licence or permission include: scrap metals ; antiques; apparatus 
or component parts for transmission by radio waves; currency, bank or other notes; fish, shrimps, 
lobster and other crustaceans, and all other marine products including corals; logs and lumber, 
medicinal dangerous drugs; wild animals;  live animals (excluding pets); sugar; citrus fruits; and 
beans.41 The authorities indicated their intention to review this list.  
3.2.4   Duty and tax concessions  
3.78.   Belize notified the WTO in October 2016 that it has made no changes to the investment 
programmes which  provide for the grant of prohibited subsid ies: 
- programme under the Fiscal Incentives Act (Cap. 54);  
- programme under the Export Processing Zone Act (Cap. 280);  
- programme under the Free Zones Act (Cap. 278).42 
3.79.   As these programmes involve prohibited sub sidies under Article 3 of the Agreement on 
Subsidies and Countervailing Measures (SCM Agreement) of the WTO, Belize requested and was 
granted by the SCM Committee annual extensions of the transition period for the elimination of 
export subsidies under Arti cle 27.4 of the SCM Agreement. Pursuant to the General Council 
decision adopted in 2007, export subsidies should have been phased out by 31 December 2015.43 
3.80.   The Government developed an action plan and established a Working Group on WTO 
Compliance comprised of relevant government ministries and agencies. Belize obtained technical 
assistance from the Commonwealth Secretariat, who prepared a consultant report and tabled it to 
the Government. That report presented an assessment to the three programmes, and indic ated 
the WTO -non-compliant provisions of each. In May 2016, the Cabinet considered and approved 
recommendations from the Ministry of Economic Development based on this consultant report. 
Subsequently, the authorities are in the process of amending the Fisc al Incentives Act and the Free 
Zones Act, and drafting a new bill to replace the Export Processing Zone Act.  
3.2.4.1   Export Processing Zones Programme  
3.81.   Under the Export Processing Zone Act, the EPZ programme is administered by the Export 
Processing Zone Committee (EPZC) comprising members from both the public and the private 
sectors. The EPZC designates areas to be used as export processing zones (EPZs). There are three 
types of EPZ businesses: EPZ developers, EPZ businesses, and special EPZs. Companies in the 
EPZs are allowed to open foreign currency bank accounts, and are exempted from import and 
export licensing requirements. They are also exempted from a number of direct and indirect taxes 
including import tariffs. Tax exemptions are for 20 years, but dividends paid by an EPZ business 
are exempt from tax in perpetuity.  
                                                
41 Details are listed in Table III.11, WTO (2010), TPR of Belize 20 10. 
42 WTO document, G/SCM/N/299/BLZ, 7 October 2016.  
43 WTO document WT/L/691, 27 July 2007.  WT/TPR/S/ 353 • Belize  
 
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  3.82.   EPZs pay an environmental tax  (Section 3.1.3)  and a business tax on local sales  (Section 
3.3.1.1.4) . An administration fee is paid at a rate of 1.5% of the c.i.f. value of goods imported by 
EPZ com panies ( Section 3.1.3). They  are also required to  pay payroll taxes and social security.  
The m ain sectors  present  in the EPZs are: agro -processing , including citrus juices, aquaculture 
(primarily shrimp), and papaya; manufacturing of items such as home fur nishing and musical 
instruments; and services including IT business such as business process outsourcing activities in 
customer care, technical support, and voice and data processing and gaming. Investment, a major 
target of EPZs, reached US$85 million in 2014, of which US$76  million (90%) was made in the 
agro-processing sector. The authorities indicated that in 2014, exports from EPZs accounted for 
roughly one  third of total merchandise exports, while imports accounted for about 4% of total 
merchandise imp orts. The export contingent element  of the programme  is that domestic sales of 
products manufactured in EPZ s are allowed only after a waiver is issued by the EPZC.  
3.2.4.2   Free Zones Programme  
3.83.   Free zones are administered by the National Free Zone Authority (NFZA) through its Board 
of Directors. The NFZA and the Minister , with the approval of the Cabinet , have the authority to 
designate any area in Belize to be a free zone and then designate an FZ developer. Free zones are 
further grouped into private -sector -managed  and public -sector -managed free zones. Companies in 
FZs are exempted from  import and export licensing requirements, as well as taxes imposed on the 
sale of foreign currency. Additionally, FZ businesses incurring a net loss over the five -year tax 
holiday pe riod may deduct losses from profits in the three years following the tax holiday period.44 
3.84.   Imports and exports of companies in a FZ are exempt from import tariffs, export duties, 
GST, excise duties, and transit taxes, except those destined for and entered d irectly into the 
national customs territory. FZ companies pay a social fee for imports at the c.i.f. value: 1.5% for 
general merchandise; 6% for liquor and cigarettes; and 10% for fuel ( Section 3.1.3).  
3.85.   During the first 10 years of operation, companies in F Zs are exempt from the payment of 
business tax or any other corporate tax, and any dividends paid by these companies are also 
exempt from such tax for the first 10 years of operation. Companies in FZs are required to pay 
business tax at the rate of 2% on t he expiration of their tax holiday period. In the computation of 
business tax, tax credits are given in accordance with the number of Belizean workers employed 
on a continued basis:  
a. 10-30 Belizean workers – 1% of annual business tax;  
b. 31-50 Belizean workers  – 1.5% of annual business tax;  
c. Over 50 Belizean workers – 2% of annual business tax.  
3.86.   There are currently two active FZs, both trad ing almost exclusively in transit goods: one 
located at Corozal near the Mexican border (294 companies), and the other locate d at Benque -
Viejo (18 companies) near the Guatemalan border. Imports into these two FZs amounted to 
approximately BZ$176 million in 2014, down from BZ$218 million in 2013 and BZ$285 million in 
2012. The share in total merchandise imports also dropped from 17% in 2012 to 12% in 2013 and 
9% in 2014.  Export sales at the Corozal Free Zone amounted to BZ$528 million in 2012 and 
BZ$520 million in 2013. Another four FZs are in the planning stage: Belize Port Free Zone , 
International Free Zone , Western Free Zone , and Toledo Free Zone .  
3.87.   Sales from a company located in an FZ to the national customs territory are subject to the 
approval of the Ministry of Finance. If such sales are approved, they must not exceed 25% of an 
enterprise's respective imports, or 25% of the goods produced by a company located in  an FZ. 
Furthermore, they  would be subject to duties and taxes und er the national customs regime.  
                                                
44 U.S. Department of State, 2016 Investment Climate Statement – Belize . Viewed at: 
http://www.state.gov/e/eb/rls/othr/ics/investmentclimatestatements/index.htm?year=2016&dlid=254507#9co
mpetition  [14/09/2016].  WT/TPR/S/ 353 • Belize  
 
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  3.2.4.3   Fiscal incentives  
3.88.   The Fiscal Incentive P rogramme, administered by the Belize Trade and Investment 
Development Service (B ELTRAIDE) , is governed by the Fiscal Incentives Act, Chapter 54, revised 
edition 2003. It aims to encourage investment from existing and prospective investors. In order to 
qualify, a company must be incorporated under the laws of Belize and its business ac tivity must 
provide benefits to Belize's  economy. The main advantage to participating businesses is the 
granting of exemptions from import duties and RRDs for items used in the production of goods or 
services (e.g. building materials, machinery and equipme nt, spare parts, fixtures and fittings, 
office appliances, and raw materials for the sole use of the approved enterprise). The exemptions 
are for a maximum period of 15 years, which may be extended for a further 10 years in the case 
of companies engaged in  agriculture, agro -industrial products, aquaculture, food processing , and 
manufacturing, provided they operate only for export and are highly labour  intensive.  
3.89.   The export contingent elements in this programme are reflected in two aspects: first, the FI 
programme provides the possibility of an extension of the import tariff exemption of up to 
25 years for "pure exporters"45; second, in both the application process and the approval criteria, 
information is solicited with regard to a firm's exports and foreign exchange earnings. The 
authorities indicated that most beneficiaries of the Fiscal Incentive Programme are not exporters, 
and that the Act is being amended to eliminate the export requirement.  
3.2.5   Export support and promotion  
3.90.   Belize Trade and Investment Develo pment Service (BELTRAIDE), within the Ministry 
responsible for investment, trade and commerce, is the statutory body mandated to perform 
functions related to: trade development and promotion; investment generation and promotion; 
enterprise development and facilitation; and employment skill training.46 
3.91.   In 2014, EXPORTBelize was established as a unit under BELTRAIDE, to foster an enabling 
environment that promotes  the diversification and competitiveness of Belize's export sector. Its 
core services include: fac ilitating workshops and training; identifying viable export markets; 
providing technical assistance; and promoting Belizean products and services. EXPORTBelize is 
also preparing an Export Priority Sector video and booklet. Focus has been placed on the tourism 
and agriculture sectors.  
3.92.   BELTRAIDE has MOUs with Atlantic Bank Limited, the Development Finance Corporation 
(DFC), and La Inmaculada Credit Union, aiming at improving enterprises' access to finance.  
3.3  Measures Affecting Production and Trade  
3.3.1   Tax and ince ntives  
3.3.1.1   Tax 
3.93.   According to the World Bank's Doing Business Report, Belize ranks 69th out of 189 countries 
in the world for ease of paying taxes in 2016, a decline from the 57th rank in 2010. Belize made 
payment of taxes easier in 2012 by improving electronic filing and payment for social security 
contributions. On average, businesses in Belize make 29 tax payments a year, spend 147 hours a 
year filling, preparing and paying taxes, and pay total taxes amounting to 31% of profit.47 
3.3.1.1.1   General sales tax  
3.94.   A general sal es tax (GST) of 12.5% is chargeable on both imports and domestically 
produced goods and services. With respect to domestically produced goods and services, the GST 
is applied at the retail stage and not the manufacturing stage. In the case of imports, it i s levied at 
                                                
45 Preville & Associates Consulting Group (International) Limited (2015), Reforming Subsidies 
Programme in Belize for Compliance with WTO Agreement on Subsidies and Countervailing Measures , October.  
46 BELTRAIDE online information. Viewed at:  http://www.beli zeinvest.org.bz/belize -invest -services/ 
what-we-do/ [30/08/16].  
47 World Bank (2016), Doing Business 2016 .  WT/TPR/S/ 353 • Belize  
 
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  the moment of importation and is assessed on the basis of the c.i.f. customs value plus the import 
tariff.  
3.95.   Some goods and services have zero -rated GST, such as exports of goods and services, as 
well as a large number of agricultural products an d supplies (Table  3.14). Some goods are 
exempted from the GST, while the Ministry of Finance may also exempt goods and services from 
the GST. The GST is not always applied equally on domestically produced goods and services and 
imported goods and services . Only locally produced fresh milk, locally produced fresh fruits and 
vegetables, and locally produced sweet bread and bun s are zero -rated. A number of services, if 
they are domestically provided, are exempt from the GST, while some other goods and services  for 
import are exempt from the GST.  
Table 3.14 GST exempt and zero -rated items, 2016  
Tax treatment  Goods and services  
Zero-rated 
exported 
goods  Includes the supply of goods to a free zone under the Free Zone s Act or an export 
processing zone under the Export Processing Zone Act  
Zero-rated 
exported 
services  Services connected with exported goods and services consumed outside of Belize  
Zero-rated 
supplies and 
imports  Food for human consumption:  
- Unprocessed foods (rice; flour; corn; fresh meat from any mammal, bird, fish; edible 
offal of bovine animals, swine, and sheep; eggs; beans; locally produced fresh milk; locally 
produced fresh fruits and vegetables ; salt; tea)  
- Processed foods (edible swine and bovin e meat salted or in brine; condensed and 
powdered milk; oats; percolated and instant coffee; cooking lard; cooking oil; margarine; 
chicken sausage (canned); potted meat; luncheon meat; corned beef (in cans); sugar; 
chocolate powdered drinks; baby formula; preparations of malt extract; macaroni and 
cheese; cereals; bread, corn and flour tortilla and locally produced sweet bread and bun; 
yeast; soups and broths in solid or powdered form (including Ramen)  
- Live birds, fish, crustaceans, mollusc or other anima l of a kind used as, or producing, 
food for human consumption  
 Supplies connected with agriculture, livestock birds and fish, crustacean and 
mollusc s and other supplies connected with agriculture : hatching eggs; animal 
feeding stuff suitable for any live bird, fish, crustacean, mollusc, or other animal of a kind 
generally used as, or producing, food for human consumption or for any draught animal; 
concentrated feed for bovine animals and swine; seeds and other means of propagation of 
plants that are used f or providing certain food or feed; preparations formulated for 
agricultural use, namely fertilizers, pesticides, fungicides and herbicides; land preparation 
for agriculture, harvesting and crop -dusting services; barbed wire; irrigation pipes and 
hoses; spa re parts for tractors; cables for banana industry; sugar -cane-loading machines  
 Utilities:  supply of water (other than water supplied in bottles or similar) or domestic 
sewerage services; butane gas for domestic production  
 Medicine and medical supplies for human use:  analgesics; cough and cold 
preparations; diagnostic testing kits; insulin and insulin syringes with needles and devices 
of a certain capacity; oral rehydration preparations in the form of salts and solutions of 
WHO/ pharmacopoeia  standards; d ialysis fluids; oxygen; anti -retroviral medicines  
 Items for household use:  laundry washing soap powder  
 Household appliances:  stoves and ranges/cookers; refrigerators for domestic use; 
washing machines for domestic use  
 Items and supplies for use in ed ucation:  erasers, school bags, note books, pen and 
pencil holders and similar holders, writing or drawing pencils, crayons, pencil leads (black 
or coloured)  
 Other:  frames for eyeglasses  WT/TPR/S/ 353 • Belize  
 
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  Tax treatment  Goods and services  
Exempt 
supplies 
(domestic 
production 
only)  Financial and other int ermediation services; residential property transactions; supply of 
goods or services by an educational institution (including certain books, music and maps); 
medical supplies (medical, dental, hospital, optical and paramedical services, other than 
veterina ry services and cosmetic surgery); accommodation services (supplied by hotels, 
inns, guesthouses , etc.); utilities and public transport (electricity to consumers who use up 
to BZ$200.00 of electricity per month; postal services; domestic public transport; lease of 
aircraft and maintenance facilities; and air cargo operations); exported services; certain 
supplies to diplomatic missions; goods and services supplied to the Government of Belize  
Exempt 
imports  Items and supplies for use in education : notebooks;  pencils, crayons, lead pencils, 
erasers, pencil holders for use in schools; school bags  
Imports of component parts, accessories, and navigational instruments for installation in 
aeroplanes and ships used in international commercial services (Article 49 of  the GST Act) 
Goods exported, other than for the purposes of repair, renovation or improvement, and 
subsequently re -imported (Article 49 of the GST Act)  
Source:  Information provided by the authorities, Statutory Instruments No. 37 of 2010  and No. 38 of 20 10. 
3.96.   According to Statutory Instrument No. 49 of 2014, Internet services are subject to zero -
rated GST, not GST exemption.48 
3.3.1.1.2   Excise duties  
3.97.   Under the Customs and Excise Duties (Amendment) Act 2016, excise duties are collected on 
goods produced locally and imp orted into Belize. 116 lines at the HS 8 -digit level are subject to 
excise duties. They cover some sugar confectionery, waters, beer, wine, some liqueur s, cigars and 
cigarettes, petroleum oil, diesel oil, beauty or make -up preparations, transmission appara tus for 
radio-broadcasting, motor vehicles, cameras, watches, and arms (Table A3.2). Most rates are ad 
valorem , ranging from 5% to 30%.  
3.3.1.1.3   Income tax, and others  
3.98.   Taxation of companies falls under the Income and Business Tax Act (2000)  and is divided 
into: bus iness tax, income tax, and income tax on petroleum profits.  
3.99.   Businesses are required to pay a business tax, charged on all receipts over a threshold, both 
cash and in -kind. Thus business tax acts like a tax on turnover. The thresholds are BZ$75,000 for 
a business or trade, BZ$20,000 for a profession or vocation, and BZ$800 per month for rental 
receipts, if this is the only source of income. Business tax rates vary, depending on the type of 
business: from 0.75% on the sale of fuel and lubricants, to 25% withh eld from management fees 
and some other charges paid by non -residents.  
3.100.   Businesses may choose to file returns for income tax, which has a flat rate of 25% that is 
applicable to both individuals and companies.49 If the income tax is greater than the business tax, 
the excess income tax is waived. If the business makes a loss, the loss can be converted into a tax 
credit for business tax purposes and losses can be carried forward for up to five years (seven 
years for farmers).  
3.101.   Effective as of 28 December 2015, th e tax on petroleum profits increased from 40% to 
41% on diesel and to 45% for regular and premium gas.  
3.102.   Other internal taxes include a hotel tax of 9% levied on all accommodation charges, a 
stamp duty of 5% on land transactions above BZ$20,000 (US$10,000), a land tax of 1% on the 
unimproved value of land, and a property tax levied by the city/town council in each district.  
                                                
48 Department of General Sales Tax online information. Viewed at: http://www.gst.gov.bz/legal.html  
[07/12/16].  
49 Income Tax Department online information. Viewed at: http://www.incometaxbelize.gov.bz/act. 
html#2  [13/09/16].  WT/TPR/S/ 353 • Belize  
 
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  3.3.1.2   Other incentives  
3.103.   Incentive programmes are mainly provided under the Export Processing Zone Act, the Free 
Zones Act, and the Fiscal Incent ives Act ( Section 3.2.4). Other incentives include those given to 
offshore companies, and to retired persons ( Section 2.4.1).  
3.104.   According to data provided by Customs, tax revenue foregone at the border was mainly  as 
a result of  import tariff and GST exempti ons, followed by RRDs and environmental tax. The v alue 
of tax revenue foregone has been increasing (Chart 3.2).  
Chart 3.2 Tax revenue foregone  
(BZ$)  
02,000,0004,000,0006,000,0008,000,00010,000,00012,000,00014,000,00016,000,00018,000,00020,000,000
Import tariffs RRDs GST Environmental tax Total
2013 2014 2015
 
Source:  WTO Secretariat, based on data provided by Customs . 
3.3.2   Competition policy and price controls  
3.3.2.1   Competition policy  
3.105.   The Revised Treaty of Chaguaramas requires each CARICOM member State to enact 
harmonized competition legislation and establish a national competition authority to monitor and 
investigate anti -compe titive business practices.50 Under the EPA between CARIFORUM and the EU 
there is an obligation to implement competition laws and institutions as well as provisions on 
exchange of information and enforcement cooperation on competition matters.51 
3.106.   Belize is sti ll in the process of developing its competition regime as required by its regional 
and international commitments. To this end, it has set up a Competition Project, funded by the EU 
as part of a regional programme to advance the integration of CARICOM States. The objective of 
the project is to develop and establish a policy, legislative and institutional framework to support a 
                                                
50 Article 74 and Article 170, Chapter 8, of the Revised Treaty of Chag uaramas. Viewed at: 
http://idatd.cepal.org/Normativas/CARICOM/Ingles/Revised_Treaty_of_Chaguaramas.pdf . 
51 Articles 127 and 128, Chapter 1, Title IV of the EP A between CARIFORUM States and the EU. Viewed 
at: http://eur -lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2008:289:0003:1955:EN:PDF . WT/TPR/S/ 353 • Belize  
 
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  national competition regime and increase awareness and understanding of competition law and 
practices.52 The Directorate General for F oreign Trade, within the Ministry of Economic 
Development, Petroleum, Investment, Trade and Commerce, is responsible for the management of 
the project. A  draft competition bill was prepared in September 2016 and was being reviewed. The 
bill was expected to  be submitted to Cabinet in early 2017.  
3.107.   Although Belize does not have overarching competition legislation, sector -specific laws 
contain competition provisions in areas such as public utilities and telecommunications. The Public 
Utilities Commission (PUC) approves prices for water, electricity and telecommunications, where 
there is no competition.53 Also, the Belize Telecommunications Act empowers the PUC to monitor 
anti-competitive practices due to market dominance and prohibits telecom licensees from enter ing 
into agreements that have the purpose or effect of significantly lessening competition in the 
market.54  
3.108.    At the regional level, t he CARICOM Competition Commission (CCC) is in charge of 
implementing competition policy and rules. It has powers to monitor , investigate, detect, make 
determinations and take actions in respect of anti -competitive cross -border practices. CARICOM 
members, including Belize, are required to cooperate with the CCC and other national competition 
authorities, and to enact legislatio n to ensure that the Commission's determinations are 
enforceable in their national jurisdictions.55 CCC determinations can be appealed at the Caribbean 
Court of Justice.  
3.3.2.2   Price controls  
3.109.   Under the Supplies Control Act, 2000 (Cap. 293) and the Supplies Control  (Prices) 
Regulations (Cap. 293s), Belize maintains maximum prices for a number of imported and locally 
produced goods.56 According to the authorities, the objective of maintaining maximum prices is to 
ensure affordability of basic commodities for low -incom e consumers. The Supplies Control Act does 
not specify criteria to determine which commodities are subject to price controls.  
3.110.   The Belize Bureau of Standards is responsible for implementing the price control regime 
through the issuance of Statutory Instrume nts. Maximum prices are expressed either as 
percentage mark -ups at the wholesale and/or retail levels or as absolute prices. Imported goods 
subject to price control appear in the "First Schedule" of the Regulations, while local products are 
listed in the " Second Schedule". Currently, rice and red kidney beans appear in both Schedules. In 
the case of red kidney beans, the maximum price that may be applied to imports is higher than 
the maximum price allowed for domestically produced goods (Table 3.15) . 
Table 3.15 List of goods subject to price controls, 2016  
Articles  Wholesale (maximum %a or 
absolute prices in BZ$)  Retail (maximum %b or absolute 
prices in BZ$)  
First Schedule (imported goods)  
Butane (domestic) ga s Not regulated  Prices vary according to districts: 
BZ$66.00 to BZ$71.00 per cylinder of 
100 lbs  
Cheese (except refrigerated)  12.5%  20% 
Coffee  12.5%  20% 
Cooking oil  7.5%  15% 
Diesel  Not regulated  BZ$5.20 per U.S. gallon  
Gasoline  
Regular  
Premium  Not regulated   
BZ$9.34 per U.S. gallon  
BZ$9.87 per U.S. gallon  
Kerosene  Not regulated  BZ$4.66 per U.S. gallon  
                                                
52 Beneficiaries of the project include experts from the area s of trade, law, agriculture, education, 
finance, and transport , as well as trade unions, the media, the business community, and regulatory agencies in 
civil aviation and port authority.  
53 Public Utilities Commissi on Act (Cap. 223); Water Industry Act (Cap. 222); Electricity Act (Cap. 221).  
54 Part IV of Belize Telecommunications Act.  
55 Article 174, Chapter 8, of the Revised Treaty of Chaguaramas.  
56 Supplies Control Act Chapter 293 of the Laws of Belize. Viewed at: http://www.belizelaw.org/ 
web/lawadmin/index2.html . WT/TPR/S/ 353 • Belize  
 
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  Articles  Wholesale (maximum %a or 
absolute prices in BZ$)  Retail (maximum %b or absolute 
prices in BZ$)  
Lard 7.5%  15% 
Margarine  10% 20% 
Medical preparation and 
prescription drugs  10% 15%-25% 
Milk (powered)  7.5%  15% 
Red kidney beans  BZ$115.00 per s ack of 100 lbs  BZ$1.28 per lb in Belize City and 
BZ$1.25 per  lb in other districts  
Rice  BZ$65.00 per 100 lb sack  BZ$0.69 per lb  
Sardine, mackerel, herring  12.5%  20% 
Second Schedule (local produce)  
Beer BZ$38.00 per carton of 
24 (10 oz. pint) bottles  BZ$2.25 per 10 oz. pint (cold) in Belize 
City and BZ$2.00 in other areas (cold)  
Bread  
Not sliced  
Sliced  Not regulated   
BZ$1.50 per loaf  
BZ$1.75 per loaf  
Fish (fresh, frozen and chilled or 
corned)c  Not regulated  BZ$1.35 to BZ$1.50 per lb  
Hard wheat flou r ("Bebe Agua")  BZ$80.00 per 100 lbs  BZ$0.92 to BZ$0.97  
Mahogany and cedar (ex -mill 
prices at the factory)  Not regulated  BZ$0.43 to BZ$0.31 per board foot  
Pine (ex -mill prices at the 
factory)  Not regulated  BZ$0.53 to BZ$0.89 per board foot  
Primary h ardwoods (mahogany 
and cedar)  Not regulated  BZ$0.37 to BZ$1.40 per board foot  
Red kidney beans  BZ$90.00 sack of 100 lbs  BZ$1.10 per lb  
Rice (5% -10% broken)  BZ$0.75 per lb  BZ$0.85 per lb  
Rice (grade C, milled/white, in 
labelled packages)  BZ$0.80 per lb ( packages 
25 lbs or less)  BZ$0.90 per lb (packages of less than 
25 lbs) 
Soft wheat flour ("La Gitana")  BZ$80.00 per 100 lbs  BZ$0.90 to BZ$0.95  
Sugar, brown  Not regulated  BZ$0.25 per lb  
Sugar, plantation white  Not regulated  BZ$0.75 per lb  
a Maximum per centage that may be added to  the landed cost of imported goods. Landed cost is the 
sum of the c.i.f. value of imports, the customs duties and taxes, cartage and bank and port charges.  
b Maximum percentage that may be added to the wholesale price.  
c An addi tional 25 cents per lb may be added to the price of salt water fish, conchs, shrimps, and 
lobster sold in inland areas, and for clean gutted fish sold anywhere an additional 25 cents per lb.  
Source:  WTO Secretariat, based on the Supplies Control Act Cap. 2 93 and Regulations Cap. 293s.  
3.111.   The authorities have indicated that there have been no changes to the list of goods subject 
to price controls. However, adjustments to the maximum prices have been made regularly, mainly 
to reflect fluctuations in global marke t prices. The latest changes for imported goods concerned 
retail prices for fuels.57 As regards local products, there were changes to the prices of sugar 
(2015)58, rice (2015)59 and wheat flour (2011).  
3.3.3   State trading, state -owned enterprises, privatization, an d support to SMEs  
3.112.   Belize has not made any notification s to the WTO regarding the state trading arrangement 
described in paragraph 1 of the Understanding on the Interpretation of Article XVII of the GATT 
1994 ( Section 2.3.1).  
3.113.   Belize has a number of state ow ned enterprises (SOEs) in the utilities and services sectors. 
The Government is the majority shareholder in, inter alia ,: 
a. Belize Water Services Limited, the sole provider of water services in Belize;  
b. Belize Electricity Limited, the sole provider of electri city services; and  
c. Belize Telemedia Limited, the largest telecommunication provider in the country.  
                                                
57 Statutory Instrument No. 56 of 2016 . 
58 Statutory Instrument No. 9 of 2016.  
59 Statu tory Instrument No. 17 of 2016.  WT/TPR/S/ 353 • Belize  
 
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  3.114.   In 2013, the Government did not renew the private contracts and took over the 
management of the International Business Companies Registry, and the Internati onal Merchant 
Marine Registry of Belize (IMMARBE).60 
3.115.   The Government owns the Belize Marketing and Development Corporation (BMDC), and 
Belize Petroleum and Energy Limited (BPEL). The BMDC, under the Ministry of Agriculture and 
Fisheries, is the sole importer  of wholly milled white rice into Belize  at times of domestic shortage. 
The objective of this arrangement is for the BMDC to provide assistance to rice farmers in the 
south of Belize.   
3.116.   There has been no privatization process since the previous Review.  
3.117.   BELTRAIDE has been making efforts to foster enterprise development, and in particular of 
small and medium enterprises (SMEs). An SME Unit was established under BELTRAIDE in 2007, 
and an SME Policy and Strategy was developed after that. On 31 October 2012, the  first Small 
Business Development Centre , under BELTRAIDE, was opened. This Centre  provides business 
advisory services and technical assistance to entrepreneurs, start -ups and established 
companies.61 Further, on 20 November 2015, Belize launched its first National Entrepreneurship 
Strategy. BELTRAIDE is working on amending the BELTRAIDE Act to strengthen the SME mandate.  
3.118.   Under the Fiscal Incentive s Act there is a programme for SMEs . It aims to encourage SME 
investments below BZ$300,000. In order to qualify,  companies must employ less than 15 persons; 
have an annual turnover not exceeding BZ$500,000, and be a net foreign exchange earner. They 
cannot be a subsidiary of, or be controlled by, an entity that is not a n SME. Joint ventures with 
foreign companies ar e allowed, provided that foreign ownership does not exceed 49%. Benefits for 
SMEs are the same as those for larger companies, although  only investments of up to BZ$300,000 
are eligible for import duty and RRD exemptions. In addition, SMEs benefit from lowe r application 
and administration fees.  
3.3.4   Government procurement  
3.119.   The Finance and Audit (Reform) Act 2005 sets out the rules on government procurement.62 
It applies to the procurement of goods and services. In accordance with the Act, government 
procurement in  Belize is decentralized.63 The Act governs procuring entities including central 
Government entities, statutory bodies, some state -owned enterprises64, municipal councils and 
village councils. The BEL (Belize Electricity Ltd.) and the BTL (Belize Telemedia L imited) are not 
covered. Belize reviewed the Finance and Audit (Reform) 2005 Act in 2010, to, inter alia , enhance 
transparency in the tendering process.65 According to the revision (Statutory Instrument No. 31 of 
2010), procuring entities need to inform bid ders of contract award decisions and provide rejected 
bidders with the reason(s) for rejection.  
3.120.   At the time of the previous Review, the authorities indicated that the Government is 
looking to re -establish a centralized government procurement system. The au thorities indicated 
that the  establishment of new procurement regulations and the development of a website to 
increase transparency in the procurement process are still pending.  
                                                
60 U.S. Department of S tate, 2016 Investment Climate Statement – Belize . Viewed at: 
http://www.state.gov/e/eb/rls/othr/ics/investmentclimatestatements/i ndex.htm?year=2016&dlid=254507#9co
mpetition  [05/09/2016].  
61 BELTRAIDE online information. Viewed at: http://www.belizeinvest.org.b z/services -and-support/sme -
development -2/sbdc -small-business -development -center/  [14/09/16].  
62 The Finance and Audit (Reform) Act, No. 12 of 2005, Part IV. Viewed at: 
http://www.oas.org/juridico/spanish/mesicic2_blz_finance_audit_act.pdf . 
63 Finance and Audit (Reform) Act, No. 12 of 2005. Viewed at: 
http://www.oas.org/juridico/spanish/me sicic2_blz_finance_audit_act.pdf . 
64 These SOEs are: Belize Waters Service Ltd., Belize Marketing and Development Corporation, Belize 
Petroleum and Energy Ltd., Alba Petrocaribe (Belize Energy Ltd.), Development Finance Corporation, and Belize 
Infrastructu re Ltd.  
65 Statutory Instrument 31 of 2010. Ministry of Finance online information. Viewed at: 
https://www.mof.gov.bz/ind ex.php/downloads/finish/31 -laws-and-regulations/123 -si-31-of-2010-finance -and-
audit-reform -act [05/09/2016].  WT/TPR/S/ 353 • Belize  
 
- 68 - 
 
  3.121.   Belize is neither a party of, nor an observer to, the WTO plurilateral Agreeme nt on 
Government Procurement (GPA). Belize's position remains unchanged since the last review: a 
decision to join the GPA would be taken in conjunction with a regional decision by CARICOM. 
According to Article 239 of the Revised Treaty of Chaguaramas (RTC) , CARICOM member States 
are to elaborate a protocol relating to, inter alia , government procurement.66 To support regional 
integration of CARICOM, a Task Force formed in 2011 is responsible for overseeing, coordinating 
and scheduling activities for the enac tment of various dimensions of the Framework Regional 
Integration Policy (FRIP) on public procurement. According to the authorities, a new Government 
Procurement Act is expected to be effective in 2017.  
3.122.   The Belize legislation on government procurement has no distinction between domestic 
and foreign companies. There is no policy favouring local producers. Foreign companies are 
therefore, in principle, allowed to participate in public procurement.  
3.123.   The Finance and Audit (Reform) Act stipulated three tendering procedures: open 
tendering, selective tendering, and limited tendering (Box 3.1). Open tendering procedures are 
obligatory for procurement contracts of BZ$5 million (US$2.5 million) or above: such contract 
awards must be presented to both Houses of the Nat ional Assembly within one month of their 
execution. Procuring entities may use either open or selective tendering procedures for purchases 
of goods and services under the threshold.67 
3.124.   Given Belize's decentralized procurement system, each procuring entity is  permitted to 
develop its own tendering procedures and practices. In 2013, the Government issued a Handbook 
for Government Procurement, requiring procuring entities to use harmonized practices and 
standard forms, bidding documents, and evaluation criteria.  However, the authorities indicated 
that the Handbook has not been implemented, and thus the situation has not improved.  There 
continues to be a lack of uniformity in documentary requirements and evaluation criteria.  
3.125.   Open tendering must be published in loc al newspapers.  Large contracts, particularly those 
financed by external donors, are published in the international press, or on the websites of the 
respective donors.  Statistics are not available on contract awards according to tendering 
procedures, type o f contracts, or origin.  
3.126.   The only statistics on contract awards are those reported by the Contractor -General. The 
Contractor -General presents annual reports to both Houses of the National Assembly. These 
annual reports contain statistics at the individual procuring entity level of the number and the 
value of contracts. These statistics are not available to the Secretariat.  
3.127.   The Contractor -General has parliamentary oversight for government procurement 
contracts. All contracts, regardless of procurement metho ds, must be submitted to the Contractor -
General for review and comments. If the Contractor -General assesses that the contract is not in 
the best interest s of the Government or the country, he/she submits comments in writing to each 
House of the National As sembly for debate before execution of contract. The Contractor -General's 
responsibility is to monitor, ensure the award and implementation of public contracts, and 
investigate fraud, mismanagement, waste or abuse in government procurement activities. The 
Contractor -General 's Office may conduct investigations, but may not enforce findings and 
decisions; enforcement remains the responsibility of the National Assembly.68 During the review 
period, one investigation was conducted. In February 2013, the Ministry o f Finance and the 
Ministry of Economic Development requested an investigation led by the Contractor -General into 
the allegations of corruption charged against the Belize Social Investment Fund (BSIF).69 This led 
                                                
66 The Revised Treaty of Chaguaramas. Viewed at: http://cms2.caricom . org/documents/4906 -
revised_treaty -text.pdf  [06/09/2016].  
67 Finance and Audit (Reform) Act 2005 No. 12 of 2005, Section 19 (5) -(6). Viewed at: 
http://www.oas.org/juridi co/spanish/mesicic2_blz_finance_audit_act.pdf . 
68 The Contractor -General Act, Chapter 6, sections 15, 16 and 29 (1) (3). Viewed at: 
http://www.belizelaw.org/lawadmin/PDF%20files/cap006 .pdf. 
69 The BSIF was incorporated in 1996 as a statutory body throug h the Belize Social Investment Fund 
Act. It approves projects and programmes and provide s financial and technical assistance to community groups 
and local government organizations which s erve to provide basic services to the most severely affected groups 
in the country . (Viewed at: http://www.sifbelize.org/ ) WT/TPR/S/ 353 • Belize  
 
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  to the termination of contracts of relevant s taff members and the resignation of the Executive 
Director of BSIF.70 
Box 3.1 Tendering procedures  
Procedure  Legislative requirements  
Open 
tendering 
procedure  Conditions for participation in tendering to (a) be published in adequate time for supplier s to 
complete the applicable qualification procedure; (b) be limited to those essential to ensuring the 
suppliers' capacity to fulfil the contract; (c) not discriminate against any supplier. A supplier's 
capacity is t o be judged on  the basis of  its global business activity.  
The p rocess ing of and time required for the qualification of suppliers is not to be used to prevent  
any "applicable supplier" from being considered. Any supplier who is able to meet the conditions 
for participation in the tendering procedure is considered a "qualified supplier". Unqualified 
suppliers requesting to participate in the tender may be considered if there is sufficient time. If 
the Government maintains a permanent list of "qualified suppli ers", an "applicable supplier" may 
apply to be included in the list. The Government is obliged to notify suppliers of the inclusion and 
removal of their names from the list.  
The Government, through the appropriate Ministry, shall consider suppliers' tender s; identify 
suppliers who would be short -listed and interviewed; award the contract to a suitable 
supplier(s); and notify unsuccessful suppliers in writing (the reasons for a supplier being  
considered unsuccessful are not stated).  
Selective 
tendering 
procedure  The Government must ensure that the number of applicable suppliers invited to submit a tender 
is sufficient to ensure competition without affecting the efficiency of the process.  
Government selection of suppliers to submit a tender must use the follo wing guidelines: need for 
fairness and non -discrimination; relevant market for procurement; need for expediency in the 
public interest; number of suppliers or purchasers in the relevant market; knowledge of 
government procedures by the applicable suppliers . 
The Government may select a supplier from a permanent list of qualified suppliers, if it exists.  
Limited 
tendering  The Act also allows the Government to buy goods and services directly without issuing a tender 
or by inviting individual suppliers to subm it a tender for a contract (limited tendering). This is 
permitted: (a) where the open or selective tendering procedure was used but no tender was 
received; (b) where it is the Government's view that the tenders received under open or 
selective tendering ar e collusive, or not in compliance with conditions specified in the tender 
invitation; (c) where for certain reasons (technical, protection of exclusive rights , or related to a 
work of art) goods or services can only be procured from one supplier; (d) for r easons of 
extreme urgency or in the public interest; (e) where goods procured are required by the 
Government as parts that are a replacement for, or addition to, existing goods or installations, 
thereby meeting inter -changeability requirements; (f) where t he service procured is an extension 
of an existing one; (g) where goods or services are a prototype or subject to intellectual property 
rights, or a first product or service to be manufactured or performed in pursuance of an 
experiment, original study or o riginal development; and (h) for national security or national 
emergency reasons or to purchase goods or services needed for the day -to-day operations of the 
Government.  
Source:  Finance and Audit (Reform Act) 2005.  
3.128.   Any complaints regarding  government proc urement may be forwarded to the Contractor -
General. Information on complaints made, and how the Contractor -General has handled them, was 
not available to the Secretariat.  
3.3.5   Intellectual property rights  
3.129.   Since the previous Review, there has been no change to t he legislative and institutional 
framework on intellectual property rights protection, and no change to Belize's international 
commitments (Table 3.16). Belize notified its contact point to the WTO in 2010, but has not made 
any other notification s regardin g IPRs since then.71 Belize deposited its instrument of acceptance 
for the 2005 protocol amending the WTO's Agreement on Trade -Related Aspects of Intellectual 
Property Rights (TRIPS) on 15 September 2016. This protocol is intended to formalize a decision to  
ease poorer WTO Members' access to affordable medicines. The protocol allows exporting countries 
                                                
70 Belize National Television Station Plustv online information. Viewed at: 
http://www.plustvbelize.com/minister -of-economic -development -briefs -the-media -on-sif-terminations/ . 
71 WTO document, IP/N/3/Rev.11, 4 February 2010.  WT/TPR/S/ 353 • Belize  
 
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  to grant compulsory licences to their generic suppliers to manufacture and export medicines to 
countries that cannot manufacture the needed medicines themselv es. These licences were 
originally limited to predominantly supplying the domestic market.72 Belize Intellectual Property 
Office (BELIPO) remains the national agency responsible for the protection of copyrights, industrial 
designs, patents, trademarks, new plant varieties, and layout designs (topographies) of integrated 
circuits.  
Table 3.16 IPR 
IP rights  Protection and legislation  
Copyright  Covers original literary, dramatic, musical or artistic work for the li fe of the author plus 50 
years; sound recordings, films, broadcasts and cable programmes for 50 years from the 
end of calendar year in which it was made; typographical arrangements of a published 
edition for 25 years from  the end of the calendar year in wh ich the reedition was first 
published  
Copyright Act (Cap.  252, revised edition 2000) (2000)  
Trade marks  10 years from date of filing (renewable)  
Trade Marks Act (Cap.  257, revised edition 2000) (2000)  
Geographical 
Indications  10 years from date of filing  (renewable)  
Trade Marks Act (Cap.  257, revised edition 2000) (2000)  
Industrial designs  5 years from the date of filing, renewable for two consecutive periods of five years each  
Industrial Designs Act (Cap.  254) (2000)  
Patents  20 years from date of fili ng, non -renewable  
Patents (Amendment) Act, No.  40 of 2005 (2005)  
Patents Act (Cap.  253, revised edition 2000) (2000)  
Utility models  7 years from date of filing, non -renewable  
Patents (Amendment) Act, No.  40 of 2005 (2005)  
Patents Act (Cap.  253, revised ed ition 2000) (2000)  
Layout -designs 
(topographies) of 
integrated 
circuits  10 years from the date of filing or date of first commercial exploitation, not renewable  
Protection of Layout -Designs (Topographies) of Integrated Circuits Act (Cap.  256) (2000)  
New plant 
varieties  25 years for vines, forest trees, fruit trees, and ornamental trees, 20 years for all other 
species  
Protection of New Plant Varieties Act (Cap.  255, revised edition 2000) (2000)  
Date of 
membership  WIPO -administered treaties  
12 July 2003  Hague Agreement Concerning the International Deposit of Industrial Designs (1925)  
17 June 2000  Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) (1994)  
17 June 2000  Berne Convention for the Protection of Literary and Artistic Work s (1886)  
17 June 2000  Convention Establishing the World Intellectual Property Organization  
17 June 2000  Paris Convention for the Protection of Industrial Property (1883)  
17 June 2000  Patent Cooperation Treaty (1970)  
Source:  WIPO online information. Vi ewed at: http://www.wipo.int/wipolex/en/profile.jsp?code=BZ  
[07/09/16].  
3.130.   In fulfilment of EPA provisions, a draft Geographical Indications Bill was produced in 
November 2015 ( Section 2.3.2);  according to the Ministry of Trade, this Bill was sent to the 
Solicitor General's Office for review.  
3.131.   As the laws on patents, industrial designs, and new plant varieties all restrict the 
importation of goods placed on the market in another country with the  consent of their legitimate 
right holder, parallel imports of these products are not allowed. In practice the right holder is 
required  to institute court proceedings to prevent parallel imports. The Layout Designs 
(Topographies) of Integrated Circuits Act  does not expressly restrict the importation of goods 
placed on the market in another country with the consent of their legitimate right holder. Under 
the Trade Marks Act, a registered mark is not infringed by its use in relation to goods that have 
                                                
72 WTO onl ine information. Viewed at: https://www.wto.org/english/news_e/news16_e/trip_15sep16_e 
.htm [18/01/2017].  WT/TPR/S/ 353 • Belize  
 
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  been pu t on the CARICOM Single Market and Economy by the legitimate right holder; this principle 
does not apply when the imports are from non -CARICOM countries. Parallel importation of 
copyrighted material is not allowed.  
3.132.   Compulsory licensing may  be granted under  the Patents Act, the Protection of Layout 
Designs (Topographies) of Integrated Circuits Act, and the Protection of New Plant Varieties Act. 
Since 2010, no compulsory licence s have been granted.  
3.133.   The authorities indicated that on average it takes 30 months for a patent to be granted, 
from the date of receipt in Belize. Regarding trademarks, Belizean nationals may file trademark 
applications directly, while foreign applications must be made through an agent who must be an 
attorney residing and practising in B elize. After the application information is filed, the substantive 
examination procedure applies. It takes a maximum  of two months for a mark to proceed to 
publication, or for a letter to be issued if there is objection to the mark. In the case of objectio n, 
the applicant has two months to respond. Once the response is received, the mark is  required  to 
go through the substantive examination process. Marks are then published three times fortnightly; 
after these six weeks, another six weeks are given to any p erson who may object to the 
registration of the mark. It takes around six months in total for a trademark to be registered.  
3.134.   Details of applications and grants for trademarks, patents, and industrial designs are 
published in BELIPO's Intellectual Property J ournal ( http://www.belipo.bz/ip -journal/ ). The 
authorities indicated that, an application may be rejected on the basis of: similarity with earlier 
marks or being identical to earlier marks; or if the mark is  not distinctive enough to be registered 
as a trademark as it was only descriptive of the applicant's goods or services.  
3.135.   All IPR legislation contains provisions for enforcement, including civil procedures and 
criminal procedures. Remedies available in civi l procedures include the seizure and destruction of 
the infringing products and the equipment used to manufacture them, and the payment of 
damages. Remedies in criminal procedures include fines and imprisonment.  
3.136.   Some reports argue that IPR enforcement is l acking in Belize.73 Reportedly, there were 
cases of counterfeit goods destined for the Corozal Free Zone. In accordance with the IPR 
legislation, right holders may instruct Customs to treat pirated or counterfeit goods made outside 
Belize as prohibited good s. The right holder must provide relevant evidence. According to the 
Customs Regulation (Prohibited and Restricted Goods) (Consolidation) Order, 1988, the export of 
any infringing goods, or devices or means for making such infringing goods, is prohibited. Customs 
may not seize infringing materials in an ex officio  capacity, but the police may seize a good or 
article if it appears to be an infringing copy or to be used for infringing purposes.  
3.137.   The authorities indicated that Belize is in the process of comple ting a national IP strategy, 
including IPR enforcement. In 2015, BELIPO, with the assistance of WIPO, conducted a workshop 
on IPR enforcement for law enforcement officials, including Customs, the judiciary and other 
stakeholders. Topics included IP enforce ment and the public interest, legal framework, trademark 
counterfeiting and copyright pirac y, and investigating IP crimes.  
                                                
73 U.S. Department of State, 2016 Investment Climate Statement – Belize . Viewed at: 
http://www.state.gov/e/eb/rls/othr/ics/investmentclimatestatements/index.htm?year=2016&dlid=254507#9co
mpetition  [07/09/2016].  WT/TPR/S/ 353 • Belize  
 
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  4  TRADE POLICIES BY SE CTOR  
4.1  Agriculture  
4.1.  Agriculture is important to the economy of Belize: in 2015 , horticulture and livestock farming 
represented 9.9% of GDP1 and employed about 19,100 people.2 Furthermore, manufacturing 
largely depends on inputs from farms to the processing industry, with beverages and 
manufacturing of food products contributing an additional 5.8% to GDP.3 
Table 4.1 Contribution of agriculture to GDP , 2008-14 
(BZ$ million)  
 2008  2009  2010  2011  2012  2013  2014  
Constant prices (2000)  
Crops  173.2  162.9  193.7  177.7  202.0  196.6  190.6  
Livestock  36.5 37.1 38.4 43.0 42.6 44.8 53.6 
Forestry  12.7 10.2 5.8 5.9 5.3 5.2 5.2 
Food products 
manufacturing  124.9  126.2  118.1  121.1  139.6  128.7  126.4  
Current prices  
Crops  183.8  179.3  199.8  219.4  273.0  253.2  257.8  
Livestock  41.7 44.4 50.8 59.8 64.8 72.4 89.5 
Forestry  14.4 11.9 7.0 7.9 7.1 7.9 8.9 
Food products 
manufacturing  159.5  157.2  148.9  161.5  199.0  196.8  193.6  
Source:  Statistical Institute of Belize.  
4.2.  About 38% of land in Belize, or about 800,000 hectares , is potentially suitable for agriculture 
but only about 78,000 hectares are actua lly used , with roughly half of this area under pasture and 
half for growing crops. The main crops produced are bananas and sugar for export to the EU, and 
citrus fruit for processing into juice and export to the United States. In addition, maize and fresh 
fruits and vegetables are produced for both domestic consumption and export.  
4.3.  The structure of agricultural production varies considerably with subsistence farming 
(characterized by fallowing every 2 -3 years), small commercial farms producing for the local 
market or sugar cane for export, large commercial farms producing for export, plantation farming 
for bananas, and commercial farming of cereals and vegetables by the Mennonite communities. 
Most farms are small : about 53% are less than 5 acres (2.02 hectare s) in size. Furthermore , 50% 
of the 5,444 holdings producing sugar cane are less than 10 acres  in size , and 85% of cattle farms 
have less than 30 animals each. However, production of some products tends to be concentrated 
in a small number of larger farms , with nine banana producers accounting for most production and 
35 out of 525 citrus growers accounting for 75% of production. The citrus processing industry is 
also concentrated , with Citrus Products of Belize Ltd having a near monopoly on processing and 
exporting and the Belize Sugar Industries (BSI) and Santander Group process ing and export ing 
80% of the crop as well as cultivating over 12,000 acres.4 
4.4.  Agriculture faces a number of challenges: disease outbreaks have reduced production of 
citrus fruits, pap aya, and shrimp; tropical storms cause wind and flood damage; and poor 
infrastructure adds to the cost and time of getting products to market. Despite these challenges, 
the production of sugar has remained quite stable over the 2008 -15 period, while the production 
of maize, kidney beans, pigs, poultry, and milk has increased ( Table 4.2). 
                                                
1 Belize Statistical Institute online information. Viewed at:  http://www.sib.org.bz/statistics/gross -
domestic -product   [December 2016].  
2 ILOSTAT Database. Viewed at: http://www.ilo.org/global/statistics -and-databases/lang --en/index.htm  
[August 2016].  
3 Belize Statistical Institute online information. Viewed at: http://www.sib.org.bz/statistics/gross -
domestic -product  [August 2016].  
4 Belize authorities.  WT/TPR/S/ 353 • Belize  
 
- 73 - 
 
  Table 4.2 Agricultural production 2008 -15 
 2008  2009  2010  2011  2012  2013  2014  2015  
Crops         
Sugar cane ('000 long tons)  980 918 1,123  844 1,070  1,078  1,214  1,186  
Oranges ('000 90 pounds per box)  5,866  5,618  4,040  4,563  6,008  4,160  4,159  4,073  
Grapefruit ('000 80 pounds per 
box) 1,441  1,124  1,435  721 964 701 598 754 
Corn (maize) ('000 pounds)  81,684  126,487  127,975  138,241  132,615  158,567  157,368  159,158  
Rice paddy ('000 pounds)  25,971  45,449  45,246  42,068  27,155  45,205  34,888  25,989  
Red kidney beans ('000 pounds)  5,532  5,873  14,573  8,167  13,318  12,479  9,321  18,489  
Bananas ('000 40 pounds per  box) 3,751  3,752  4,288  4,085  5,716  5,447  5,662  5,448  
Cocoa and dry beans (pounds)  111,000  86,115  57,629  57,629  150,000  145,000  165,850  158,365  
Papaya ('000 pounds)  59,476  54,349  66,340  67,990  42,760  56,510  34,180  21,666  
Livestock          
Cattle: No. s laughtered (#)  8,401  7,961  7,414  7,861  7,283  8,081  6,775  6,995  
   Dressed weight ('000 pounds)  3,780  3,582  3,336  3,537  3,671  4,073  3,415  3,525  
Pigs No. slaughtered (#)  19,602  21,953  22,415  21,704  22,505  21,453  21,942  26,120  
   Dressed weight ('000 pound s) 2,352  2,634  2,690  2,604  3,106  2,959  3,028  3,605  
Poultry No. slaughtered ('000 units)  8,329  8,429  8,590  8,817  8,965  9,518  10,244  10,732  
   Dressed weight ('000 pounds)  27,767  28,577  30,113  30,579  31,550  33,525  38,579  40,774  
Milk ('000 pounds)  6,438  8,277 7,331  8,698  11,873  11,028  10,281  12,570  
Honey ('000 pounds)  63 130 89 130 103 100 64 98 
Eggs ('000 dozen)  3,374  3,427  4,034  3,534  2,743  3,573  4,089  4,230  
Source:  Central Bank of Belize.  
4.5.  In addition to challenges related to events such as  outbreaks o f disease, droughts and 
tropical storms, agriculture in Belize has also been affected by other events. These other events 
included the decision by J.R. Brooks, the owner of Fruta Bomba (the largest papaya producer), to 
reduce the area under cultivation in 2015 as a step towards ceasing production in 2016 and the 
closure of a major banana farm in 2015, which reduced the area under cultivation by 19% to 
6,845 acres.5 
4.1.1   Trade  
4.6.  During  the 2008 -2015 period , exports of agricultural goods (WTO definition)6 fluctuated  
considerably, peaking at US$211 million in 2012 but declining to US$148 million in 2014 and then 
recovering in 2015. The sharp fall was mostly due to a reported collapse in banana exports to zero 
in 2014 and 2015 ( Table 4.3). How ever, according to data reported by importers, imports of 
bananas from Belize actually increased in 2014 compared to 2013 and remained relatively high in 
2015 ( Table 4.4). Furthermore, data from the Central Bank of Belize indicate  that exports of 
bananas were valued at BZ$100.8 million in 2014, and BZ$98.4 million in 2015.7 
4.7.  Exports are concentrated in a few products with cane sugar and frozen orange juice 
accounting for about two  thirds of export s by value in 2015 and, including  bananas, nearly three  
quarters of export value in 2013. Overall, the destination of exports has not changed over the past 
few years. Nearly all cane sugar goes to the United Kingdom, the main destinations for frozen 
concentrated orange juice are the United S tates and the Netherlands, most animal feed 
preparations go to other Caribbean and Central American countries, and papayas to the United 
States. Since 2007, exports of several products have declined – particularly citrus fruit products 
and papayas due to d iseases. Although exports of sugar cane, beans and some other agricultural 
products have increased, it has not been enough to compensate for the decline.  
                                                
5 Central Bank of Belize (2016), Annual Report 2015.  
6 For the purposes of this section of the Trade Policy Review Repor t, the definition of agricultur al 
product s used is that set out in Annex 1 of the Agreement on Agriculture where fish and fish products are 
taken to include tariff lines under HS Headings 020840, 03, 05 0800, 050900, 051191, 1504, 1603, 1604, 
1605, and 2301 20. 
7 Central Bank of Belize online information. Composition of Domestic Exports (Table 34). Viewed at: 
https://www.centralbank.org.bz/rates -statistics/balance -of-payments  [January 2017].  WT/TPR/S/ 353 • Belize  
 
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  4.8.  Belize has traditionally had a surplus in trade in agricultural products (WTO definition). 
However, in  2014 and 2015 , imports of cigarettes (HS 2402 20) increased sharply compared to 
previous years. Imports of some other products increased significantly , including wheat flour, rice, 
and animal feed preparations which all increased by over 200% from 2012 to  2015. According to 
the authorities, the increase in imports of cigarettes was related to imports into the free zones.  
Table 4.3 Trade in agricultural goods , 2008 -15 
(US$ million)  
HS 
2002  Exports  2008  2009  2010 2011  2012  2013  2014  2015  
 Total agriculture exports  147.6  150.9  142.7  165.8  210.6  207.6  147.6  161.6  
170111  Cane sugar, raw  35.7 38.8 29.4 41.4 53.8 53.7 55.1 67.2 
200911  Orange juice, frozen, 
unfermented  46.5 43.1 32.5 46.3 65.6 47.8 41.4 41.1 
08072 0 Papaws (papayas), fresh/dried  11.3 16.5 12.7 13.1 7.8 10.3 6.6 6.5 
240220  Cigarettes cont. tobacco      0.0     0.9    0.5 1.1 6.3 
230990  Preparations of a kind used in 
animal feeding other than 
dog/cat food  0.1         0.2 0.4 13.6 12.5 5.9 
071333  Kidney beans, incl. white pea 
beans ( Phaseolus vulgaris ), 
dried, shelled,  1.5 1.7 3.4 2.7 3.9 4.9 4.7 5.6 
330112  Essential oils of orange  1.5 1.5 1.7 2.9 4.9 1.4 3.0 4.1 
200921  Grapefruit juice  10.7 6.5 7.4 5.5 6.6 5.9 4.0 3.8 
170310  Cane molasses  1.4 1.6 3.0 1.4 1.9 3.8 2.9 3.2 
071339  Beans ( Vigna spp., Phaseolus 
spp. (excl. of 0713.31 -
0713.33)), dried, shelled  0.2 0.0 0.1 0.2 0.0     3.5 2.9 
080300  Bananas, incl. plantains, 
fresh/dried  33.4 33.3 41.3 33.9 47.4 48.5 .. .. 
          
 Imports  2008  2009  2010  2011  2012  2013  2014  2015  
 Total agricultural imports  105.5  98.7 115.4  105.3  124.3  132.0  227.5  215.9  
240220  Cigarettes cont. tobacco  4.5 4.9 15.4 3.3 6.9 8.8 59.2 55.9 
230990  Preparations of a kind used in 
animal feeding other than 
dog/cat food  5.7 7.0 5.8 5.2 5.0 4.1 22.3 14.7 
210690  Food preps., n.e.s.  6.4 6.4 5.9 5.9 6.9 7.9 9.4 9.9 
220300  Beer made from malt  2.4 2.2 2.8 1.1 2.4 3.0 6.7 7.7 
230400  Oil-cake and other solid 
residues, whether or not ground 
or in the form of pellets, 
resulting fro m the extraction of 
soya-bean oil 3.9 3.6 4.4 4.8 6.6 8.1 8.1 7.0 
100110  Durum wheat  9.6 7.5 6.9 6.9 9.5 8.5 6.6 6.0 
151790  Edible mixtures of animal 
vegetable fats or oils … - Other  2.0 2.1 2.1 2.5 2.8 3.4 3.9 5.2 
220830  Whiskies  7.9 2.6 6.2 5.9 3.3 3.4 4.8 5.1 
040630  Processed cheese, not 
grated/powdered  2.7 2.6 2.6 3.1 3.3 3.4 3.9 4.1 
190110  Preparations for infant use  2.1 2.5 2.2 2.2 2.9 3.3 3.6 4.0 
.. Not available.  
Source:  UNSD Comtrade.  
Table 4.4 Imports of bananas from Belize,  2008 -15 
(US$ '000)  
 2008  2009  2010  2011  2012  2013  2014  2015  
United Kingdom  46,776  51,729  56,301  50,633  59,115  53,126  56,645  53,151  
Ireland  12,406  14,354  11,193  12,796  16,112  16,643  15,784  16,928  
Spain  0 0 0 .. 1,260  1,697  2,141  3,084  
Other  3,580  22 12 6 755 135 86 785 
.. Not available.  
Source:  UNSD Comtrade.  WT/TPR/S/ 353 • Belize  
 
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  4.9.  Belize has duty -free access to the EU for all goods under the CARIFORUM –EU Economic 
Partnership Agreement (EPA), for most goods to the United States under the Caribbe an Basin 
Initiative (CBI), to Canada under the Caribbean –Canada Trade Agreement (CARIBCAN), and to 
other territories under agreements between them and CARICOM (Section 2). Under the EPA with 
the EU, Belize and other CARIFORUM members have duty -free access to the EU market for all 
products (a transitional safeguard mechanism for sugar ended in 2015 without having been 
triggered). Although sugar and beef are subject to specific rules under the CBI, Belize also 
receives a country -specific allocation from the U .S. sugar quota of 11,583 to 11,807 with 
additional allocations in some years.8 
4.1.2   Agricultural policies  
4.10.   The Ministry of Agriculture, Fisheries, Forestry, Environment and Sustainable Development 
is responsible for the development and implementation of agricul tural policies, although several 
other ministries are also responsible for various policies affecting agriculture including the Ministry 
of Finance, Public Service, Energy and Public Utilities, the Ministry of Economic Development, 
Petroleum, Investment, T rade and Commerce, and the Ministry of Natural Resources. In addition, 
several government agencies are also involved in implementing policies related to agriculture, such 
as the Belize Agricultural Health Authority, and the Belize Bureau of Standards.  
4.11.   The legal basis for regulating the agricultural sector has not changed very much since the 
last Review , consisting of : 
 The Sugar Industry Act, 2001, the Sugar (Industry Development Fund) (Use) Regulations 
of 2003, and the Sugar Industry (Control) Regulations o f 2003. The Act set up several 
bodies responsible for different parts of the sugar industry, including: the Sugar Industry 
Control Board; the Sugar Cane Production Committee; the Sugar Industry Research and 
Development Institute; the Sugar Cane Quality Con trol Authority; and the Belize Sugar 
Cane Farmers Association. The Act also created the Sugar (Industry Development) Fund 
and the Sugar (Labour Welfare) Fund. Under the Sugar Industry (Amendment) Act of 
2015, since 14 January 2015, sugar cane producers have no longer  been required to join 
the Belize Sugar Cane Farmers Association or any other association. The Sugar Industry 
Control Board may register any association and sugar manufacturers may accept cane 
from any producer or association of producers;  
 The Banana Industry Act, 2000, which set up the Banana Control Board to regulate the 
banana industry;  
 The Meat and Livestock Act, 2000, which established the Meat and Livestock Commission 
and the Livestock Producers Association and created the Livestock Produce rs Development 
Fund. The Commission was set up to regulate cattle -breeding organizations, operate 
livestock auctions, and regulate slaughtering, movement, and export of cattle. The 
Association was created with the objective of developing the livestock indu stry;  
 The Grain Act, 1982, which provides for the establishment of the Grain Commission to 
regulate the sector and the Grain Growers Association to promote the industry; and  
 The Citrus (Processing and Production) Act, 2003, and the Citrus (Processing and 
Production) Regulations, which set out the basis for the licence regime for imports of citrus 
fruits and provided the legislative basis for the Citrus Board.9 
4.12.   The importance of the agricultural sector in the development of the economy was identified 
in Hor izon 2030, the National Development Framework for Belize 2010 -2030. The Framework sets 
out a number of basic objectives, including promotion of production, improving access to finance 
                                                
8 WTO documents: G/AG/N/USA/79, 3 November 2010; G/AG/N/USA/79/Add.1, 27 May 2011; 
G/AG/N/ 79/USA/Add.2, 13 June 201 2; G/AG/N/USA/ 84, 7 May 2012; G/AG/N/USA/ 84/Add.1, 8 February 
2013; G/AG/N/USA/ 92 11 February 2013; G/AG/N/USA/ 96, 21 July 20 14; G/AG/N/USA/ 101, 28 April 2015; 
G/AG/N/USA/101/Add.1, 31 July 2015; G/AG/N/USA/106, 25 April 2016; and G/AG/N/USA/ 106/Add.1, 27 April 
2016.  
9 WTO document WT/TPR/S/238/Rev.1, 23 November 2010, paragraph 4.19.  WT/TPR/S/ 353 • Belize  
 
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  and insurance for producers, improving access to land, and increasing go vernment investment in 
infrastructure and inputs.10 The National Food and Agriculture Policy for 2002 to 2020 also set out 
several objectives related to increasing productivity, investment, and value -added in agriculture 
production and processing.11 
4.13.   The Mini stry of Agriculture has developed a National Agricultural Policy 2015 -2030, which is 
still in draft form and, at end -2016, had been presented to the Government for approval. Some 
parts of the Policy relating to the Ministry are being implemented. According  to the authorities, the 
main objectives of the Policy are: to enhance production, productivity, and competitiveness; to 
increase market development, access and penetration; to increase food and nutrition security and 
improve rural livelihoods; to enhance sustainable agriculture and risk management; and to 
enhance accountability, transparency and coordination.  
4.14.   Belize applies the CARICOM common external tariff to agricultural products. In 2016, the 
average tariff on agricultural products was 23.3% and varies  from duty -free to 100% for wheat 
flour and some tariff lines for fruit juices, water, and alcoholic beverages. In addition, the Revenue 
Replacement Duty (RRD) was applied to many agricultural tariff lines at rates of 10% to 40%. The 
Environment Tax is app lied, at 2%, to all non -CARICOM imports (Sections 3.1.2 and 3.1.3).  
4.15.   Import duties are bound at a ceiling level of 100%, with a few exceptions where rates range 
from 70% to 110% and "other duties and charges"  apply . Belize has no tariff quota commitments 
and does not use tariff quotas.  
4.16.   Discretionary import licences continue to be applied to imports of some agricultural goods in 
order to control imports and protect domestic producers. The list of goods includes rice, beans, 
hen eggs, maize and maize flour, ma ny fruits and vegetables and juices, meat and meat products, 
sugar, water, and beer (Section 3.1.4).  
4.17.   While import measures are used to protect domestic producers from competition and to 
raise domestic prices, the Government also applies price controls to a  number of agricultural 
products including rice, red kidney beans, sugar, cheese, margarine, and powdered milk. The price 
controls are applied either as limits to the wholesale and/or retail price or through limits to the 
mark-up allowed at wholesale and r etail levels. The Supplies Control Unit in the Belize Bureau of 
Standards is responsible for applying price controls (Section 3.3.2.2).  
4.18.   To help achieve the objectives of the draft National Agricultural Policy, one of the priorities 
identified is to improve  domestic and export credit policies to address the relatively high interest 
rates charged on loans and the difficulties exporters face in obtaining  export credits, insurance, 
and guarantees. At end -2015, 10% of loans by domestic banks (BZ$203 million) and  6% of loans 
by credit unions (BZ$226 million) were to the agriculture sector.12 Concessional credit is available 
from several financial institutions including the Development Finance Corporation (DFC), Belize 
Enterprise for Sustainable Technology (BEST), H elp for Progress , Belize Livestock Producers 
Association (BLPA), and the Small Farmers Bank/National Bank of Belize.  
4.19.   Belize has never made a ny notification s to the WTO Committee on Agriculture in relation to  
domestic support under the Agreement on Agricult ure. With relatively high tariffs and an import 
licence system, which should raise domestic prices, there should be a transfer from consumers to 
agricultural producers. However, some of the products subject to high tariffs and import licen ces 
are also subj ect to price controls, which could reduce prices, and therefore returns to producers. 
The levels and the direction of transfers between consumers and producers could not be calculated 
as farm gate prices for agricultural commodities in Belize are not avail able. According to the 
authorities, the Statistics Institute of Belize, in cooperation with IDB and FAO, is working to 
improve the agriculture data system.  
                                                
10 Government of Belize (2011), Horizon 2030 – National Development Framework for Belize 2010 -
2013, p. 29, 
11 Ministry of Agriculture & Fisheries (2003), The National Food & Agriculture Policy (2002 -2020) , April, 
pp. 33 -36. 
12 Central Bank of Belize (2016), Annual Report 2015 , pp. 46 -47, Table A.31.  WT/TPR/S/ 353 • Belize  
 
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  4.20.   In terms of budgetary transfers from the Government to agricultural producers, total 
funding for the  Ministry of Agriculture, Fisheries, Forestry, Environment and Sustainable 
Development declined from BZ$50.44 million for fiscal year 2013/14 to BZ$29.7 million for 
2015/16. The biggest programme in the Ministry's budget is for agricultural research and 
development although most of the projects under the programme are for investment and disease 
control and they include the EU -funded Belize Rural Development Project, Accompanying Measures 
for Sugar Protocol Countries, and Special Framework for Assistance for  Traditional ACP Suppliers of 
Bananas ( Table 4.5): 
 The objective of the Rural Development Project is to support sustainable economic growth in 
rural areas through assistance to small -scale income generating schemes, and social 
infrastructure projects;  
 The Accompanying Measures for Sugar Protocol Countries aim to improve productivity in the 
sugar industry, improve physical and institutional infrastructure, and help diversification. 
The first phase focused on road infrastructure proj ects and the second on projects to 
improve competitiveness, improve research and development, rural development, and 
diversification. The programme was developed to assist development of areas affected by 
the reforms of the sugar regime in the EU;  
 The Spec ial Framework for Assistance for Traditional ACP Suppliers of Bananas was 
developed to assist ACP exporters of bananas to come to terms with the liberalization of the 
EU banana regime. For Belize, the objectives of the Framework are to improve 
competitiven ess of the banana industry and support diversification.13 
4.21.   After research and development, the Agriculture Extension Programme is the next largest 
programme with estimated expenditure of BZ$4.9 million in 2015/16. The aims of the Programme 
include support fo r increased productivity for crops and livestock through improved management, 
introduction of higher yield varieties or better genetics, as well as support for the development of 
the Belize Farm Registry and the school feed programme.  
Table 4.5 Agriculture, forestry and fisheries expenditure , fiscal years 2012/13 -2015/16  
 2012/13 
actual  2013/14  
actual  2014/15  
actual  2015/16  
revised estimate  
Total budget ceiling for Ministry of 
Agriculture, Fisheries, Forestry,  the 
Environment and Sustainable Development  n.a.a 50,440,084  36,033,724  29,723,462  
of which      
 Recurrent expenditure  n.a. 13,729,575  14,723,230  16,050,250  
  Capital IIb n.a. 4,192,250  5,734,081  3,603,031  
  Capital IIIc n.a. 32,518,259  15,576,413  10,070,180  
Programmes      
Agriculture Research and Development  18,812,198  37,978,735  22,507,932  10,331,334  
National Agriculture Extension Program me 2,138,118  4,306,449  4,269,854  4,877,279  
Fisheries Resources Management and Development  2,354,917  2,494,675  2,568,058  2,453,329  
Forestry Resource Management  1,899,446  1,989,269  2,123,150  2,525,553  
Aquaculture  .. 109,819  188,516  246,411  
Financial Assistance to Agricultural Producers  .. 0 0 1,867,817  
     
Agriculture Research and Development  18,812,198  37,978 ,735 22,507,932  10,331,334  
of which      
Recurrent expenditure  2,927,716  2,597,059  2,773,681  1,460,647  
Capital II  981,998  3,373,502  4,437,882  2,554,865  
of which      
  Medfly eradication  n.a.a 138,480  0 0 
  Influenza H1N1 virus  n.a.a 0 287,412  448,735  
  Cattle sweep (Belmopan)d 211,288  1,497,400  1,694,154  208,333  
  Diversification  35,501  51,707  69,630  55,909  
                                                
13 European Commission online information. Viewed at: http://eeas.europa.eu/delegations/jamaica/ 
index_en.htm  and https:/ /ec.europa.eu/europeaid/countries/belize_en  [September 2016].  WT/TPR/S/ 353 • Belize  
 
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   2012/13 
actual  2013/14  
actual  2014/15  
actual  2015/16  
revised estimate  
  Support to traditional crops  54,112  50,806  51,200  100,980  
  Assistance to small farmers  n.a.a 432,489  0 0 
  Horticulture program me 43,410  94,175 121,102  130,459  
  Rice project  24,826  132,289  119,170  176,442  
Capital III  14,702,485  32,008,174  15,296,369  6,315,822  
of which      
  EU – BRDO Project  2,408,439  4,547,989  2,793,471  1,250,000  
  EU – Sugar Support  11,066,135  19,688,150  6,439,377  2,916,667  
  EU – Banana  843,258  4,793,114  3,316,842  1,250,000  
  Agriculture Services Program me 168,229  2,728,921  2,671,424  449,583  
  Cattle sweepd n.a.a 0 0 416,667  
.. Not available.  
n.a. Not applicable.  
a Expenditure and revenue data for the Ministry of Agriculture, Fisheries, Forestry, the Environment 
and Sustainable Development started for Fiscal Year 2013/14. In earlier years, data applied to 
different ministries.  
b Capital II refers to domestically financed capital expenditure.  
c Capital III refers to  donor financed capital expenditure.  
d Cattle sweep refers to systematic testing for brucellosis in cattle.  
Source:  Belize Approved Estimates of Revenue and Expenditure for Fiscal Year 2016/2017 and Fiscal Year 
2015/2016.  
4.2  Fisheries  
4.22.   In 2015, there were 2,45 9 licensed fishers and, in 2015, fisheries and aquaculture 
contributed about BZ$81 million, or 2.3% to GDP, a considerable increase from 1.8% in 2011 but 
below the peak of nearly 5% in 2003.14 Furthermore, the fish sector contracted in 2015 compared 
to 2014  as output of farmed shrimp declined by nearly 42% as production halted early in 2015 to 
address a bacterial infection. Increases in output of farmed tilapia and capture of conch and 
lobster did not make up for the decline in shrimp production.15 
4.23.   The captur e fisheries subsector may be divided between the near -shore wild -capture 
artisanal fisheries and high seas fishing where Belize -flagged vessels are authorized to operate in 
Belize's non -territorial waters. Most of the 2.459 licensed fishers belong to one o f the four fishing 
cooperatives which purchase their catch. However, private companies are becoming active in 
buying directly from fishers. Artisanal fishers tend to focus on lobster and conchs which are more 
commercially significant, while high -seas fishi ng is focused on sardines, mackerel, and tuna. Total 
catch declined from 2010 to 2014 ( Table 4.6). However, according to the authorities, in 2015, 
landings of spiny lobster increased significantly.  
Table 4.6 Capture fisheries , 2007 -14 
(Tonnes)  
 2007  2008  2009  2010  2011  2012  2013  2014  
Total  305,645  364,275  304,217  399,928  277,413  171,937  34,672  76,187  
of which          
Caribbean spiny lobster  630 642 624 672 833 660 652 650 
Shrimps, prawns  890 74 22 4 1,090  0 0 0 
European anchovy  28,759  19,977  29,341  31,956  29,245  11,365  18 10 
Sardines  25,479  19,024  20,192  14,402  29,849  4,514  2,820  425 
Sardinellas, n .e.i. 68,910  76,473  53,166  68,439  56,727  50,422  3,140  15,503  
Jack and horse macker els 
n.e.i. 128,654  192,114  166,413  229,972  113,105  58,580  5,285  23,894  
                                                
14 Belize Statistical Institute online information. Viewed at: http://www.sib.org.bz/statistics/gross -
domestic -product  [January 2017 ]. 
15 Central Bank of Belize (2016), 2015 Annual Report & Statement of Accounts , Belize, p. 33.  WT/TPR/S/ 353 • Belize  
 
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   2007  2008  2009  2010  2011  2012  2013  2014  
Pacific chub mackerel  25,297  28,134  17,073  36,754  22,967  11,393  1,912  10,373  
Skipjack tuna  0 0 1,487  3,109  7,798  15,733  6,858  11,080  
Yellowfin tuna  1,552  1,382  1,538  2,150  3,310  6,028 5,387  7,172  
Abalones, winkles, conchs  1,959  2,080  2,500  2,395  2,908  3,626  3,080  2,152  
Source:  FAO FishStat.  
4.24.   In 2013 , the EU Commission identified Belize as a non -cooperating third country and , in 
2014, the EU Council listed it as such. As a result, a n umber of legal and institutional changes 
were introduced and, in October 2014, the EU Commission proposed to the EU Council of Ministers 
that the measures taken were sufficient to remove Belize from the list.16 
4.25.   Shrimp farming is the main aquaculture activit y in Belize and had stabili zed production at 
about 7,200 tonnes per year in 2014 ( Table 4.7). However, vibriosis affected production in 2015 
and only one shrimp farm remained in production, at a much reduced level. Total revenues fell 
from BZ$132 million in 2014 to BZ$20 million in 2015. BAHA , in coordination with the Ministry of 
Natural Resources and Agriculture and the Shrimp Growers Association , implemented measures to 
control the disease outbreak. These measures included improv ed Good Management Practices, 
introduction of genetically resistant brood stock and the implementation of biological control with 
the use of Tilapia fish. A task force (Advisory committee) has also been formed comprised of 
personnel from BAHA and the Shrim p Growers Association in an effort to develop guidelines for 
improved management practices, registry, bio -security , and movement control , among others , in 
an effort to control aquatic diseases.17 
4.26.   On the other hand, tilapia production increased18 and eight sh rimp farms representing 
nearly all production have been certified as meeting the Aquaculture Stewardship Council 
standards, as has the only tilapia farm.19 
Table 4.7 Aquaculture production , 2007 -14 
(Tonnes and US$ million)  
  2007  2008  2009  2010  2011  2012  2013  2014  
Total  Tonnes  3,172  4,528  5,725  7,411  5,102  5,880  7,143  7,213  
 US$ m  13.9 17.2 22.7 25.5 17.8 20.5 25.0 28.8 
of which           
Tilapias  Tonnes  400 1,865  1,613  658 55 63 60 47 
 US$ m  1.0 4.7 4.0 1.6 0.2 0.2 0.2 0.1 
Shrimps  Tonnes  2,472  2,279  4,027  6,670  5,047  5,813  7,080  7,164  
 US$ m  11.1 10.3 18.1 23.3 17.7 20.3 24.8 28.7 
Cobia  Tonnes  300 834 85 83 0 0 0 0 
 US$ m  1.8 2.3 0.5 0.5 0.0 0.0 0.0 0.0 
Source:  FAO FishStat.  
4.27.   Belize has a large trade sur plus in fish and fish products with exports of US$44.6 million and 
imports of US$0.9 million in 2015.20 The main exports are frozen shrimp, although fresh shrimp 
exports started to become significant in 2014 ; both declined significantly in 2015. Efforts to 
diversify fishing away from shrimp also appear to be successful as exports of molluscs and 
invertebrates also became significant in 2014 ( Table 4.8). The main destinations for fish products 
(HS03) are the United States, Mexico, and other Caribbean countries.  
                                                
16 European Commission online information. Viewed at:  http://ec.europa.eu /fisheries/cfp/illegal_ 
fishing/index_en.htm  [September 2016].  
17 Information provided by BAHA.  
18 Central Bank of Belize (2016), 2015 Annual Report & Statement of Accounts , Belize, p. 33   
19 ASC online information. Viewed at: http://www.asc -aqua.org/index.cfm?lng=1  [September 2016].  
20 For the purposes of this section of the Trade Policy Review Report, the definition of fish and fish 
products  is taken to include tariff lines under HS Headings 020840, 03,  050800, 050900, 051191, 1504, 1603, 
1604, 1605, and 230120.  WT/TPR/S/ 353 • Belize  
 
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  Table 4.8 Exports of fish and fish products , 2008 -15 
(US$ million)  
HS02   2008  2009  2010  2011  2012  2013  2014  2015  
 Exports of fish  23.83  26.29  31.33  25.41  29.05  56.50  57.30  44.60  
 of which          
030613  Shrimps & prawns, whether or 
not in shell, frozen  10.72  14.47  14.85  10.50  14.14  42.03  41.77  28.4 
030611  Rock lobster & oth. sea 
crawfish ( Palinurus spp., 
Panulirus spp. , Jasus spp . ...) 
frozen  3.49 3.56 3.92 5.39 7.52 7.03 7.00 7.65 
030623  Shrimps & prawns, whether or 
not in shell, other than frozen  0.02 0.00 0.71 0.00 0.07 0.00 2.46 1.48 
030799  Molluscs & invertebrates (excl. 
of 0307.10 -0307.60), 
frozen/dried/salted/in ...  0.01 0.02 0.79 0.49 0.27 0.76 2.37 3.48 
030791  Mollusc s & invertebrates (excl. 
of 0307.10 -0307.60), 
live/fresh/chilled  0.00 0.00 0.00 0.00 0.02 0.08 2.31 0.93 
030612  Lobsters ( Homarus spp. ), 
whether or not in shell, frozen  3.91 2.94 3.24 3.49 0.22 0.05 0.81 2.02 
030379  Fish, n.e.s., frozen (excl. 
fillets/ot h. fish meat of 
03.04/livers & roes)  0.04 0.04 0.19 0.58 0.43 0.53 0.28 0.16 
Source:  UNSD Comtrade database.  
4.28.   The principal legislation on fisheries is the Fisheries Act which was enacted in 1948 and last 
revised in 1989 (Chapter 210), its subsidiary legis lation which was last revised in 2003 (Chapter 
210S), and the High Seas Fishing Act, 2013. Under the Fisheries Act, commercial fishing requires a 
fisher to have a fisher folk licence, the fishing vessel must be licensed for seaworthiness, and a 
seafood per mit or export licence is needed for trade. The Act also allows the Minister to establish 
marine reserves and regulations for the sector and provides for the inspection and enforcement of 
the Act and regulations. A new Fisheries Resources Bill has been prep ared, which the authorities 
expect to be enacted in 2017. When enacted, the Bill will, according to the Ministry, help achieve 
the following objectives:  
 Compliance with international laws;  
 Establish principles of ecosystems management and a precautionary a pproach to resource 
management;  
 Establish an advisory council;  
 Provide a legal basis for co ‐management agreements;  
 Strengthen the marine reserves;  
 Provide for managed access in areas both within and outside the marine reserves;  
 Increase fines and penalties ; 
 Provide for fisheries management plans; and  
 Create a transparent and accountable process for the implementation of regulations.21 
4.29.   The High Seas Fishing Act 2013 provides the domestic legislative basis to comply with the 
FAO Agreement to Promote Internatio nal Conservation and Management Measures by Fishing 
Vessels on the High Seas. The Act provides the legislative basis for the High Seas Fishing Unit, 
inter alia , to issue regulations to determine participatory rights, allocate fishing quotas, issue 
fishing licenses,  and set effort and gear restrictions.  
4.30.   The Aquaculture Unit , in the Ministry of Agriculture, Fisheries, Forestry, the Environment 
and Sustainable Development, is responsible for aquaculture and the Belize Fisheries Department 
(BFD)  is responsible for developing policy and managing fishery resources. Within the BFD:  
                                                
21 Rodney L., Maaz J. (2013), Belize's Fisheries Act , presentation. Viewed at: http://www.rareplanet. 
org/sit es/rareplanet.org/files/fisheries_act.pdf  [September 2016].  WT/TPR/S/ 353 • Belize  
 
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   the Policy Planning Unit is responsible for policy development and coordination, providing 
personnel and financial resources to complement government programmes;  
 the Ecosystem Manageme nt Unit is responsible for protecting stocks through the nine 
marine reserves;  
 the Capture Fisheries Unit monitors commercially important stocks; and  
 the Conservation Compliance Unit is responsible for enforcing the fisheries regulations.  
4.31.   In addition, th e High Seas Fisheries Unit under the Ministry of Finance is the authority 
responsible for the regulation and control of high seas fishing.  
4.32.   To qualify for a fishing licence, the applicant must show  that s/he  sells marine products in 
Belize and is permanent resident in, or is a citizen of Belize. A fishing licence is required to obtain 
a vessel licence.  
4.33.   Fishing policy in Belize is focused on maintaining a sustainable yield from fisheries resources 
while continuing to contribute to food production, foreign exc hange earnings. Various effort and 
gear restrictions apply in Belize depending on the species caught, such as catch size restrictions 
and closed seasons for several species, including lobster, conch, Nassau grouper, sea cucumber, 
and hicatee. Bottom trawli ng has been banned since 2010 and restrictions apply to net mesh sizes 
and placement of nets as well as other equipment and all nets must be registered with the BFD. 
Total allowable catches (TACs) apply to some different species, for example: in 2015, the BFD 
carried out two surveys of sea cucumbers and, as a result, reduced the TAC from 400,000 lbs to 
300,000 lbs for the 1 May to 31 June season; and the TAC for conch was set at 800,000 lbs for the 
2015/16 season.22 
4.34.   In 2011, the BFD established a programme o f managed access that restricts access to 
designated areas to those with a licence to fish there. Eight areas have been designated as inshore 
fishing areas and one deeper water area has been marke d out for expansion and diversification. 
Implementation of t he programme began in 2016.23, 24 
4.35.   According to the authorities, recent results of field research on Queen Conch and Sea 
Cucumber stocks have helped Belize to develop and implement improved management strategies 
for these fisheries to ensure sound management and sustainable use. The full implementation of 
the M anaged Access Program me to all fishing areas in Belize together with the implementation of 
an Adaptive Management Framework (AMF) – designed to address the need for assessment and 
management of data -limited fisheries such as the conch and lobster fisheries – and the expansion 
of marine protected areas to 21.7% of the territorial sea  coupled with a planned expansion of 
replenishment area (no -take zones) from 3.15% to 10%  will provide for better management of 
Belize's  fishery resources and development of the sector.  
4.36.   The national implementation of the Belize Electronic Licen ce and Permit System (BELAPS) 
will help to improve customer satisfaction through an easy and simple  process for  online 
application s and the granting of licenses and permits which aims to increase effectiveness and 
improve fisheries export data collection and monitoring.  
4.37.   Total funding for fisheries management in the Ministry of Agriculture, Fisheries, Forestry, 
the Environment and Sustainabl e Development is about BZ$2.5 million per year while visitation 
fees for marine reserves provide about BZ$0.5 million in revenue.25 
4.3  Mining and minerals  
4.38.   According to the United States Geological Survey, Belize is not a globally or regionally 
significant mine ral producer nor was it likely to become a significant producer. However, petroleum 
                                                
22 Belize Fisheries Department (2016), Press Release, 29 January.  
23 Rodney L., Maaz J. (2013), Fisheries Regulations , presentation.  
24 Wade B. (2016), Belize National Report , Belize Fisheries Depa rtment, April.  
25 Ministry of Finance (2016), Belize Approved Estimates of Revenue and Expenditure for Fiscal Year 
2016/2017 , p. 15, 104 -105. WT/TPR/S/ 353 • Belize  
 
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  is important to the economy and to government revenues , although production has declined 
significantly in the past few years as reservoirs bec ame depleted and prices fell. In 2015, mining 
and quarrying contributed 0.4% to GDP and "other manufacturing" (which is mostly petroleum) 
contributed 1.1% to GDP. While the contribution of mining and quarrying has been relatively 
stable for several years, the contribution of petroleum has declined in line with falling production 
and prices.  
4.39.   There are two producing oilfields in Belize: Spanish Lookout which was discovered in 2005; 
and Never Delay discovered in 2007. Both were discovered and operated by Belize Natural Energy 
Ltd (BNE). Pr oduction in Spanish Lookout peaked at 5,000 bbl/day in 2009, but averaged 1,445 
bbl/day in 201526 and 1,265 bbl/day for January to August 2016.27 Production in Never Delay 
peaked at 500 bbl/day, but has declined recently and the field is currently under eval uation for 
further development. The crude oil is trucked to Big Creek for export, mostly to the United States 
for refining. The total value of exports of petroleum products has declined with production and 
prices from US$155 million in 2011 to US$72 millio n in 2015. Imports increased to US$152 million 
in 2014 before falling to US$116 million in 2015 ( Table 4.9 ). 
Table 4.9 Exports and imports of mineral fuels, mineral oils, and products of their 
distillation , 2008-15 
(US$ million)  
HS02   2008  2009  2010  2011  2012  2013  2014  2015  
Exports  
27 Total mineral fuels, mineral 
oils and products of their 
distillation  118.8  69.8 102.0  154.8  93.2 80.7 58.4 26.9 
 of which          
2709 Petroleum oils, crude  118.3  63.6 10.6 146.0 93.2 70.1 51.1 18.2 
2710 Petroleum oils, other than crude  0.5 6.3 1.4 8.7 .. 10.6 7.3 8.6 
Imports  
27 Total mineral fuels, mineral 
oils and products of their 
distillation  136.0  105.7  115.6  144.7  145.1  142.2  151.6  115.9  
 of which          
2710 Petrol eum oils, other than crude  120.6  95.9 104.3  131.8  130.0  127.3  133.0  101.2  
2711 Petroleum gases and other 
gaseous hydrocarbons  14.5 8.7 10.2 12.5 13.1 13.9 16.2 12.1 
2714 Bitumen and asphalt, natural  0.7 0.9 0.9 0.4 1.9 0.9 1.9 2.1 
.. Not available.  
Source: UNSD Comtrade database.  
4.40.   The Mining Unit in the Ministry of Natural Resources is responsible for developing policy and 
legislation and regulation of the minerals sector , while the Geology and Petroleum Department in 
the Ministry of Economic Development,  Petroleum, Investment, Trade and Commerce is 
responsible for the same for petroleum.  
4.41.   The principal legislation governing the mineral industry is the Mines and Minerals Act 
(Chapter 226) and subsidiary regulations and, for petroleum, the Petroleum Act (Cha pter 225). In 
addition, several other laws and regulations also affect exploration and exploitation of minerals 
and petroleum, such as the Environmental Protection Act, the Forests Act, and the National Park 
Systems Act.  
4.42.   For minerals, extraction of less th an 16,000 cubic yards of material requires a quarry permit 
from the Inspector of Mines. A quarry permit is valid until end -December of the year in which it is 
granted. Extraction of more than 16,000 cubic yards requires a mining licence from the Ministry o f 
Natural Resources. The duration of a mining licence depends on the estimated life of the deposit 
up to a maximum of 20 years. Prospecting licences are available for non -invasive prospecting as 
non-exclusive licences from the Inspector of Mines or as reco nnaissance licences from the Minister 
of Natural Resources which allow for trenching, coring, test pitting, and subsurface sampling in 
                                                
26 Central Bank of Belize (2016), 2015 Annual Report & Statement of Accounts , p. 3 4. 
27 Central Bank of Belize (2016) , Monthly Economic Highlights – August 2016 , 23 November, p. 7.  WT/TPR/S/ 353 • Belize  
 
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  areas of up to 50 km2 for one year. Exploration licences may also be obtained from the Minister for 
areas of up to 25 km2 for three years. All mineral rights require performance bonds to ensure 
compliance with the terms of the rights. Bonds vary with the scale of operations, the work 
programme and the sensitivity of the area. The standard bonds vary from BZ$3,000 for a quarr y 
permit up to BZ$10,000 for prospecting licences. Licence applications must include permits from 
other relevant public agencies (such as a Permit for Land Reclamation if dredging is required, or a 
Permit for Environmental Clearance) and written consent fr om landowners or leaseholders if 
private land is accessed or traversed.28 
4.43.   Detailed conditions relating to exploration and exploitation of oil and gas are set out in the 
production sharing agreement between the Government and the petroleum company. According  to 
the Geology and Petroleum Department, the fiscal regime is a hybrid of a royalty/tax regime and a 
production -sharing regime with revenue from both royalties and the Government's working 
interest in the platforms.  
4.44.   The contribution to government revenue from royalties, production sharing, and other fees 
and duties from oil and minerals has declined significantly since FY2011/12 when it was over 
BZ$38 million to an estimated BZ$11 million in FY2015/16 ( Table 4.10). 
Table 4.10 Mining and quarrying and petroleum contributions to  government revenue , 
FY2011/12 to FY2015/16  
(BZ$)  
 2011/12 
actual  2012/13 
actual  2013/14 
actual  2014/15 
actual  2015/16 
estimate  
Excise – locally produced oil  171,699 182,389  .. .. 184 
Excise – locally extracted crude oil  1,370,361  1,792,014  1,518,484  1,250,009  1,229,132  
Oil mining and prospecting licences  3,876,782  9,770,023  8,080,218  1,233,679  3,488,895  
Mining fee  .. 156,443  288,642  312,645  291,624  
Royalties on petroleum production  16,390,599  14,568,896  15,493,994  10,732,808  4,000,000  
Oil working interest  16,277,975  .. 6,542,791  4,691,010  2,000,000  
.. Not available.  
Source:  Belize Approved Estimates of Revenue and Expenditure for Fiscal Years 2016/17 and 201 3/14.  
4.4  Services  
4.4.1   Overview and multilateral commitments  
4.45.   Services are the main contributor to the economy, accounting for 60% of GDP (at market 
prices) throughout the period under review ( Section 1). In 2015, the main subsectors in terms of 
their contribution to GDP were: wholesale and retail trade (15%); transport and communication 
(9.5%); and general government services (11%). Overall, the services sector grew at an annual 
average rate of 3% between 2009 and 2014, with hotels and restaurants, wholesale and re tail 
trade, and transport and storage registering the highest growth rates. Around 66% of the 
workforce was employed in the tertiary sector in 2015.29 Belize's trade in services balance was 
positive throughout each of the review years ( Section 1).  
4.46.   Belize's specific commitments under the General Agreement on Trade in Services (GATS) 
cover only two of the twelve sectors defined in the Services Sectorial Classification List.30 These 
are: medical services and telecommunications. Medical services include general, neurosurgery, 
epidemiological, and CT scan services. For these, Belize liberalized modes 1, 2 and 3; while leaving 
mode 4 unbound, except for senior managerial personnel and technical experts not available in the 
                                                
28 Mining Unit online information. Viewed at: http://www.mnra.gov.bz/natural -resources/mining -unit/ 
[September 2016].  
29 Information provided by the authorities.  
30 WTO document MTN.GNS/W/120, 10 July 1991.  WT/TPR/S/ 353 • Belize  
 
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  local labour market, as indicated in its ho rizontal commitments.31 Belize made no entries regarding 
MFN exemptions.  
4.47.   Belize participated in the 1997 telecommunications negotiations and accepted the Fourth 
Protocol on Basic Telecommunications Services as well as the Reference Paper on 
Telecommunicatio ns. In its specific commitments, Belize reserved exclusivity of service provision 
for the then incumbent Belize Telemedia Limited (BTL) in several telecommunications subsectors, 
including voice telephone, faxes and electronic mail. In some subsectors (trun ked radio and 
teleconferencing services) exclusivity of provision was reserved until the end of 2002, and in some 
others (on online information and data retrieval, code and protocol conversion, paging, and data 
processing) until the end of 2007.32 
4.48.   In 2016, Belize submitted a rectification of its trade in services schedule on purely technical 
grounds not affecting the scope or substance of the existing commitments.33 
4.4.2   Banking and insurance services  
4.4.2.1   Main features  
4.49.   The structure of Belize's financial system has no t changed much since its last TPR review. In 
mid-2016, there were five domestic banks34, five international banks, twelve credit unions, one 
development financing institution and ten domestic insurance companies. There are also 54 money 
lenders operating un der licences granted by the Ministry of Finance. Except for these and the 
insurance companies, all other financial institutions are regulated and supervised by the Central 
Bank of Belize.  
4.50.   The financial system's total assets amounted to BZ$5.6 billion by en d-December 2015 , or 
164% of GDP. Domestic banks dominate the sector accounting for 57.6% of total assets in 2015, 
followed by international (offshore) banks (21.3%), credit unions (14.7%), domestic insurance 
companies (4.5%), and the development financing institution (1.8%) (Table A4.1). In the 
domestic banking sector, the biggest bank in terms of assets accounts for nearly 30% of all assets 
in the sector. In the international banking sector, three banks hold around 75% of total assets.  
4.51.   There continues to b e a strong foreign presence in Belize's financial system, with most 
banks and insurers forming part of regional/international conglomerates. The credit unions, on the 
other hand, are fully locally  owned. There are two state -owned financial institutions: th e National 
Bank of Belize, a commercial bank established in 2013 with the primary purpose of providing 
affordable mortgage lending, and the Development Finance Corporation (DFC), which provides 
development financing for the domestic market and underserved market segments such as 
education loans.  
4.52.    The system is characterized by a distinct separation between domestic and international 
(offshore) financial institutions, each being subject to different laws and regulators. Licensed 
domestic banks and domestic i nsurance companies conduct business with residents. Licensed 
international banks and international insurance companies offer their services exclusively to non -
residents. Despite separate laws and regulatory bodies, all financial institutions are subject to  the 
Money Laundering and Terrorism (Prevention) Act, 2008 (MLTPA) and its amendments.  
4.53.   A significant development in the financial sector during the review period was the 
strengthening of Belize's framework for anti -money laundering and combating the financ ing of 
terrorism (AML/CFT). Belize's MLTPA was amended in 2013, 2014 and 2016 in order to align it with 
the Financial Action Task Force (FATF) Recommendations. The amendments improved banking 
standards, such as requirements for account opening, ongoing acc ount monitoring, performance of 
risk assessment, and the obligation to submit information to the Belize Financial Intelligence Unit 
(FIU), which is the authority responsible for the investigation and prosecution of money 
                                                
31 WTO document GATS/SC/10, 15 April 1994.  
32 WTO document GATS/SC/10 /Suppl.1, 11 April 1997.  
33 WTO document S/L/413, 10  August 2016.  
34 In early 2016, First Caribbean Internati onal Bank Limited sold its assets to Heritage Bank Limited and 
exited the banking sector. This consolidation reduced the number of domestic banks to five.  WT/TPR/S/ 353 • Belize  
 
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  laundering, terrorism and related c rimes. Other areas that were strengthened were the role of the 
FIU as the Supervisory Authority, including its powers and duties in relation to designated non -
financial business es and professions; and the enforcement of foreign orders and cooperation with 
foreign regulatory bodies. Belize is a member of the Caribbean Financial Action Task Force 
(CFATF); improvements to the MLTPA allowed Belize to exit the CFATF monitoring process in 2015.  
4.54.   On the other hand, a recent development that has caused concern in B elize is the loss of 
correspondent banking relationships by several locally  licensed banks due to the "de -risking" 
measures taken by international banks to comply with stringent AML/CFT international regulations. 
Indeed, as correspondent banking services h ave been designated as a high risk activity for 
AML/CFT purposes, a number of global banks offering such services have cut correspondent ties 
with banks in small jurisdictions (with small transaction volumes) in order to avoid the risk of the 
impos ition of high regulatory fines. In the case of Belize, this has resulted in eight locally  licensed 
banks (three domestic and five international banks) losing their correspondent banking 
relationship in 2015. This situation has led to an increase in transaction cos ts and a winding down 
of deposits in international banks. However, the authorities have indicated that all of the affected 
local banks have now established at least one relationship with a financial institution providing 
corresponding banking services.  
4.55.   At the time of writing, a National Payments System (NPS) bill had been submitted to 
Cabinet and was expected to be enacted by the House of Representatives before the end of 2016. 
The NPS has been  functional since October 2016. In addition, work is ongoing on a project for the 
establishment of a credit bureau, with a draft bill having been completed but not yet submitted to 
Cabinet.  
4.4.2.2   Banking  
4.4.2.2.1   Domestic banks  
4.56.   Domestic banks are subject to the supervision of the Central Bank, which makes and 
enforces regulations for  the sector and is responsible for granting banking licences. Prior approval 
of the Minister of Finance is required for all regulations made by the Central Bank under the 
banking legislation and for certain Central Bank actions such as revoking licences an d enforcing 
remedial action on banks. Since 2013, the Central Bank does not require authorization from the 
Minister of Finance to grant licences and approve acquisitions and changes in the control of 
banks.35 
4.57.   During the period under review, important change s were made to legislation governing 
domestic banks. A revised Domestic Banks and Financial Institutions Act, 2012 (DBFIA) was 
approved by Parliament in August 2012 and enacted on 1 January 2013. Amendments were aimed 
at enhancing the regulatory and superv isory framework for banks and financial institutions to 
comply with the international standards and best practices established by the Basel Committee, 
and at improving compliance with the DBFIA by setting administrative penalties for non -
compliance. Main a mendments included provisions on related parties transactions, consolidated 
supervision, corporate governance standards and improvements to bank resolution (Box 4.1).  
4.58.   Under the DBFIA, two types of entit y may apply for a banking licen ce: (i) local companies  
incorporated in Belize under the Companies Act (including subsidiaries of foreign -owned banks), 
and (ii) foreign banks incorporated under the laws of another country and proposing to carry on 
banking business in Belize through a branch. All applicants are  required to designate a principal 
office in Belize and an official approved by the Central Bank to act as the licensee's authorized 
agent or spokesperson during the application process.36 Branches of foreign banks must be 
registered as an overseas company under the Companies Act. Representative offices are not 
permitted.  
                                                
35 Section 18(2) and Section 27 of the Domestic Banks and Financial Institutions Act 2012.  
36 Article 1 6 (3) v and vi of the DBFIA.  WT/TPR/S/ 353 • Belize  
 
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  Box 4.1 Main amendments in the Domestic Banks and Financial Institutions Act, 2012  
• Requirement that all transactions with related parties be identified and submitted for the approval of the 
licensee's Board of Directors in order to minimize insider dealings, and the establishment of limits on 
the quantum of business that may be conducted with a related party;  
• Strengthening of corporate govern ance by establishing minimum requirements for the number of 
directors and the creation and composition of specific oversight committees of the board;  
• Requirement that all banks adopt International Financial Reporting Standards (IFRS) in preparing their 
financial reports;  
• More stringent limits on banks with respect to their investment in equity holdings;  
 Requirement for financial holding companies to be established in order to separate the financial from 
the commercial activities of a group in the case o f banks which form part of a group;  
 Establishment of administrative penalties to serve as a deterrent for non -compliance with Central Bank 
regulations; and  
 Improvement of the resolution structure to allow for a Statutory Administrator with sufficient legal  
powers to undertake restructuring transactions and implement a mechanism for orderly liquidation.  
Source:  Information provided by the authorities.  
4.59.   Banks can only engage in insurance business if the Supervisor of Insurance (SOI) grants 
them a licence. The  Central Bank must provide a letter of "no objection" to the SOI when a bank 
applies for an insurance licen ce. 
4.60.   There is no deposit insurance system in Belize.  
4.61.   The DBFIA 2012 increased the minimum paid -up capital requirements for local and foreign 
banks fro m BZ$3 million (US$1.5 million) to BZ$10 million (US$5 million). In addition, foreign 
banks must have worldwide fully paid -up or assigned capital of no less than BZ$100 million 
(US$50 million, increased from US$25 million in 2012). Apart from this, the req uirements for local 
and foreign banks are essentially the same.  
4.62.   Reserve requirements are still the main monetary policy tool used by the Central Bank. The 
secondary reserve requirement for domestic banks set in June 2010 remains unchanged at 23% of 
average  deposit liabilities.37 The cash reserve requirement that banks must maintain at the Central 
Bank is 8% of average deposit liabilities.38 In 2011, the Central Bank reduced the proportion of 
treasury bills that domestic banks were required to hold as part of their securities requirement 
from 6.5% to 0% of average deposit liabilities. The mandatory minimum capital adequacy ratio 
(CAR) for domestic banks is 9% of risk -weighted assets. Except with prior approval of the Central 
Bank, the maximum credit exposure to  a single person is 25% of the fully paid -up and unimpaired 
capital and reserves of a bank; and the limit on unsecured lending to one person is 15% of paid -up 
capital or assigned capital.  
4.63.   Interest rates in Belize remain much higher than in the United State s (notwithstanding that 
the Belizean dollar exchange rate is fixed to the U.S. dollar), which is partly explained by 
insufficient competition in the banking sector and, according to the authorities, by poor lending 
decisions taken in the past and the need to recover losses. While interest rates have somewhat 
declined, the weighted average interest rate spread actually increased during the review period. By 
end 2015, the weighted average lending rate by commercial banks was 10%, while the weighted 
average de posit rate was 1.5%, resulting in a spread of 8. 5% (Chart 4.1). The Central Bank is 
empowered by law to control interest rates and bank credit; in practice, it has only set minimum 
rates on savings deposits. During the review period, the minimum rate on sa vings deposits was 
reduced from 4.5% to 2.5%, and commercial banks were required to disclose annual nominal and 
effective interest rates on saving deposits.  
                                                
37 The Central Bank of Belize Act requires banks to maintain secondary reserves up to a maximum of 
35% of deposit liabilities. The Central Bank may change the secondary reserve by 5 percentage points in any 
30-day period, and re quires 30 days' notice.  
38 Under the Central Bank of Belize Act, the maximum cash reserve that can be required of banks is 
20%. Any change in this level is limited to 2 percentage points in any 30 -day period, with 30 days' notice.  WT/TPR/S/ 353 • Belize  
 
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  4.64.   Domestic banks improved their balance sheets during the review period. Their ability to 
absorb los ses increased in part due to the Central Bank's implementation of new provisioning 
standards in December 2011. The p rovisioning requirement for unsecured loans categorized as a 
loss is 100%, and for those categorized as a loss but which are fully secured  it is 50%. The ratio of 
non-performing loans (NPLs) net of specific provisions to total loans fell from 16.1% in 2010 to 
6.7% in 201539, resulting from a combination of the new loan loss provisioning requirements, loan 
write-offs and loan growth. After sever al years of losses, domestic banks returned to profitability in 
2015, with improvements in ROA (0.85%) and ROE (6.2%). As most banks increased their capital 
buffers, the system's total capital expanded and the CAR rose to 24.9% by end -2015 (compared to 
21.8% in 2010), although individual banks ' ratios show significant disparities.40 The banking 
system remains abundantly liquid, with domestic banks holding liquid assets and cash well in 
excess of legal requirements. The latter seems to reflect the relative sc arcity of eligible investment 
alternatives as well as banks' reduced propensity for risk.  
Chart 4.1 Weighted average interest rates in Belize, January 2010 -May 2016  
0%2%4%6%8%10%12%14%16%
JFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAM
2010 2011 2012 2013 2014 2015 2016Chart 4.[interest rates]  Weighted average interest rates in Belize, January 2010 -May 2016
Source:  Central Bank of Belize online information.Lending rate Deposit rate
 
Source:  Central Bank of Belize online info rmation.  
4.65.   Notwithstanding the above improvements, domestic banks still face certain risks. These 
include the fact that NPLs are concentrated in the domestic banking sector, with the systemic bank 
accounting for almost half of the NPLs in the sector. In addi tion, some domestic banks still have 
low capital buffers. There is also the potential impact that the termination of corresponding 
banking relations with global banks could have on some major Belizean banks.41 
4.4.2.2.2   International banks  
4.66.   International (offshore) ba nks can only engage in banking transactions with non -residents, 
the Government of Belize, domestic banks, wholly government -owned statutory corporations, and 
companies in export processing zones and free zones. They carry out traditional banking activities  
and also act as intermediaries for the financing of non -resident investments, primarily in the 
tourism and real estate sectors.  
4.67.   The legal/regulatory framework for offshore banking has not changed since the last review, 
although the authorities have been c onsidering changes for quite some time. The sector is 
governed by the International Banking Act (IBA) Cap. 267 and is subject to the Central Bank's 
                                                
39 The ratio of NPLs net of  specific provisions  fell further to 2.69% in September 2016.  
40 Central Bank of Belize (2015), 2015 Annual Report and Statement of Accounts . Viewed at: 
https://www.centralbank.org.bz/docs/default -source/rsh_4.2.4_annual -reports/cbb -2015-annual -report -
final.pdf?sfvrsn=2 . 
41 IMF (2016), Belize: Selected Issues , IMF Country Report No. 16/93, March. Viewed at: 
https://www.imf.org/external/pubs/ft/scr/2016/cr1693.pdf . WT/TPR/S/ 353 • Belize  
 
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  supervision. The IBA makes a distinction between local and foreign international banks depending 
on whether they are incorporated in Belize or abroad. Currently, all international banks are 
incorporated locally. Two types of licence may be issued under the IBA: unrestricted "Class A" 
licence s and restricted "Class B" licence s. The latter allows the licensee to t ransact only in such 
businesses as specified in the licence, and prohibits soliciting or accepting deposits from the 
general public. Minimum capital requirements differ according to the type of licence, and are 
higher for foreign than for local banks:  
 a Class A licence requires minimum capitalization of US$3 million for a local bank and 
US$25 million for a foreign bank;  and 
 a Class B licence requires minimum capitalization of US$1  million for a local bank and 
US$15 million for a foreign bank.  
4.68.   All internati onal banks must hold approved liquid assets equivalent to 24% of total deposit 
liabilities. The required CAR for international banks is 10% of risk -weighted assets. Except with 
prior written approval of the Central Bank, total loans to a single person shal l not exceed 25% of 
the fully paid -up and unimpaired capital and reserves of a bank. The limit of unsecured lending to 
a person is 15% of the paid -up and unimpaired reserves.  
4.69.   Under the IBA, international banks are granted tax exemptions on profits, dividen ds and 
stamp duties. They are also exempted from any currency and exchange control restrictions. Their 
net foreign exchange position in currencies other than the U.S. dollar may not exceed 10% (15% 
for some, depending on size or activities) of the fully pa id-up and unimpaired capital.  
4.70.   According to the Central Bank, the loss of correspondent banking relationships has led to a 
sizable (almost 30%) fall in non -resident deposits held in Belize's international banks, with their 
total assets and profits also decr easing. On the other hand, their ratio of NPL s (net of specific 
provisions) has improved, declining from almost 70% in 2011 to 7.7% in 2015. As a result of 
capital injection and profit retention in the last few years, the CAR of Belize's international bank s 
has risen, and stood at 26.5% at the end of 2015 (well above the statutory requirement of 
10%).42 
4.71.   The Central Bank applies a risk -based approach to supervision and conducted several on -
site examinations of domestic (including a systemic bank) and internat ional banks as well as credit 
unions over the past few years. Consolidated supervision remains a challenge, in particular given 
the complex ownership structure of some financial institutions, but capacity to monitor group risks 
is being strengthened, inclu ding with respect to cross -border financial entities. The Central Bank 
regulation of April 2015 setting minimum standards on banks' corporate governance is a step in 
the right direction.  
4.4.2.3   Credit unions  
4.72.   With a membership encompassing almost half of the popul ation and accounting for 14.7% 
of financial system assets, credit unions play a significant role in financial intermediation in Belize. 
Currently there are twelve credit unions in operation, but five of them are facing solvency 
problems with one currently being liquidated, while the other four could be liquidated soon. The 
sector is quite concentrated with the five largest credit unions holding almost 95% of all assets by 
the end of 2015. The largest credit union accounts for almost two  thirds of credit uni ons assets 
and is bigger than most banks.  
4.73.   The Credit Unions Act (last amended in 2007) governs the sector, whose regulatory 
supervision falls under the remit of the Central Bank, through the Registrar of Credit Unions. The 
main services offered by credit u nions are savings and checking accounts, ATM s, online banking, 
deposit taking and lending at competitive rates. Although these services are similar to those 
offered by banks and present comparable financial risks, credit unions are subject to different 
prudential requirements (for example, no limits are set on large exposures). In order to strengthen 
                                                
42 Central Bank of Belize (2015), 2015 Annual Report and Statement of Accounts . Viewed at: 
https://www.centralbank.org.bz/docs/default -source/rsh_4.2.4_annual -reports/cbb -2015-annual -report -
final.pdf?sfvrsn=2 . WT/TPR/S/ 353 • Belize  
 
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  supervision, in 2013 the Central Bank introduced new loan classification and provisioning 
standards for credit unions (similar to those for domestic banks), an d is revising legislation for the 
sector, including the strengthening of prudential requirements.  
4.74.   According to the Central Bank 2015 Report, the assets and loans of the five largest credit 
unions increased (8.3% and 13.1%, respectively) in 2015, but their income fell (14 .3%) due to 
higher provisioning for new NPL s, and consequently so did their profits. Overall, the five credit 
unions' NPL ratio increased to 3.9%, with one of them exceeding the regulatory threshold (5%).43 
4.4.2.4   Insurance  
4.75.   The domestic insurance in dustry comprises ten active insurance businesses. Of these, three 
are life insurance companies; four are general insurance companies; two are composite insurers; 
and one is an association of underwriters that is both an insurer and a reinsurer. The industr y 
relies on external reinsurance for the transfer of risk.  
4.76.   The domestic insurance sector is regulated by the Insurance Act 2004 (Chapter 251) and 
subject to the supervision of the Office of the Supervisor of Insurance (OSI), under the Ministry of 
Finance,  renamed in February 2016 as the Office of the Supervisor of Insurance & Private 
Pensions. The Insurance Act 2004 was amended twice during the review period. The amendments 
were passed through Act No. 11 of 2014, which provides for the application of a fit and proper test 
in relation to the appointment of managers, shareholders of insurers and intermediaries, as well as 
Act No. 16 of 2014, which regulates matters related to corporate governance and ownership.  
4.77.   The legislation distinguishes between local and foreign (overseas) insurance companies, 
depending on whether they are incorporated in Belize or abroad. Foreign companies must have a 
Principal Representative resident in Belize, who can accept service of legal process on behalf of the 
insurer. Currently, there are five foreign companies operating in the domestic insurance sector. All 
insurance companies and insurance intermediaries operating in Belize must be registered with the 
Office of the Supervisor of Insurance & Private Pensions. Belizean nationals m ay acquire life and 
health insurance contracts outside of Belize, at their own risks.  
4.78.   All companies involved in insurance business must establish a statutory fund of assets equal 
to their liabilities and contingencies. Minimum capital and statutory deposit  requirements differ 
depending on the place of incorporation, and are higher for foreign than local insurance 
companies; they have not changed since 2004 (Table 4.11). In addition, companies that are not 
locally incorporated must have been in business for at least three years prior to registering in 
Belize. All insurance companies must show proof of adequate reinsurance arrangements prior to 
obtaining a licence.  
Table 4.11 Minimum capital and statutory deposit  requirements for domestic insurers  
(BZ$)  
Type of company  Minimum paid -up capital  
Local company  1 million  
Foreign company  3 million  
Mutual company offering motor vehicle insurance  3 million  
Companies offering only motor vehicle insurance  250,000  
Type of company  Minimum statutory deposit requirement  
Local company  100,000  
Any other company  300,000  
Source:  Insurance Act 2004.  
4.79.   The international (offshore) insurance industry is governed by the International Insurance 
Act 2000, Chapter 269. There were no changes to the Act during the review period, although there 
are plans under  way to revise the international insurance legislation in early 2017. Supervision of 
international insurance businesses, previously the responsibility of the International Financial  
Services Commission (IFSC), is now being aligned with that of the domestic insurance sector, so 
                                                
43 Central Bank of Belize (2015), 2015 Annual Report and St atement of Accounts . WT/TPR/S/ 353 • Belize  
 
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  that the Core Principles of the International Association of Insurance Supervisors (IAIS) will also 
be applicable. As of August 2015, the OSI (the domestic ins urance regulator) was also appointed 
supervisor of the international insurance sector, thus creating one single superv isor for the 
insurance industry.  
4.80.   There are 15 international insurance companies licensed to operate out of Belize (compared 
to 14 in 2010) .44 Only foreigners are allowed to own international insurance companies. These may 
offer a wide range of insurance and reinsurance services exclusively to non -residents. However, 
they are not allowed to do business in export processing and free zones. Inte rnational insurance 
companies are not subject to exchange rate controls or income tax.  
4.4.3   Telecommunications  
4.4.3.1   Main features  
4.81.   Belize's telecommunications sector remains relatively less developed than most of its 
regional counterparts.45 Fixed -line teledensity and  mobile penetration are lower than in 
neighbouring countries, while Internet connections are slow and prices are among the highest in 
the region. Moreover, access to Internet is not easily available in rural areas. During the review 
period, fixe d-telephone  subscriptions continued to fall in line with international trends; the number 
of mobile subscriptions increased rapidly until 2011, but has declined since then, and a similar 
trend has been reported for broadband subscriptions since 2013. On the other han d, the number 
of Internet users increased by 65% between 2009 and 2015 (Table 4.12).  
Table 4.12 Selected telecommunications indicators, 2009 -15 
(Per 100 inhabitants)  
 2009  2010  2011  2012  2013 2014  2015  
Fixed -telephone subscriptions  10.3 9.8 9.1 7.8 7.2 6.7 6.0 
Mobile -cellular subscriptions  53.7 62.9 70.3 53.2 52.6 50.7 48.91  
Fixed Internet subscriptions  2.6 3.0 .. .. .. .. .. 
Fixed broadband subscriptions  2.7 2.9 3.1 3.1 3.0 2.9 2.8 
Internet users  27.2 28.2 30.7 31.0 33.6 38.7 41.5 
.. Not available.  
Source:  International Telecommunications Union, Statistics, Time Series by Country (until 2015). Viewed at: 
http://www.itu.int/en/IT U-D/Statistics/Pages/stat/default.aspx . 
4.82.   Prices for telecommunication services in Belize have declined since 2009 (by an estimate d 
50%); nevertheless they remain high by global and regional standards. In 2014, the International 
Telecommunications Union (IT U) ranked Belize in the 135th place out of 170 countries for the 
overall affordability of its information and communication technology (ICT) services (including 
fixed and mobile telephone as well as broadband Internet services).46 In these rankings, the cos ts 
of ITC services in Belize were higher than in all other CARICOM partners (except Haiti).47 
4.83.   Although Belize's telecommunications sector was opened up to competition in 2003, in 
practice, state -owned Belize Telemedia Ltd. (BTL) remains the only provider of  fixed-line services 
                                                
44 Information provided by the authorities.  
45 In 2015, Belize ranked 29th (out of 33) in the ICT Development Index Regional Rank for the Americas. 
ITU, ICT Development Index 2015 . Viewed at: http://www.itu.int/net4/ITU -D/idi/2015/#idi2015byregion -tab. 
46 The ITU's report on the affordability of ICT services worldwide is based on the tariffs of fixed 
telephone, mobile cellular and fixed broadband Internet services.  Each country's overall ranking is based on 
the relative price of these three services as a percentage of gross national income (GNI) per capita. ITU, 
Measuring the Information Society Report  2015. V iewed at: http://www.itu.int/en/ITU -
D/Statistics/Documents/publications/ misr2015/MISR2015 -w5.pdf . 
47 Other CARICOM countries' rankings were: Trinidad and Tobago (30); The Bahamas (48); St. Kitts and 
Nevis (71) ; Barbados (82); Suriname (84); Antigua and Barbuda (89); Jamaica (100); Grenada (103); 
Dominica (107); St. Lucia (110); St. Vincent and the Grenadines (111); Guyana (112); and Haiti (152). 
Montserrat's ranking was not available.  WT/TPR/S/ 353 • Belize  
 
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  and is the dominant operator of mobile48 and broadband Internet services. Its main competitor, 
Speednet Communications Limited (Smart), was granted a licence in 2003 and entered the market 
in 2005; it provides mobile services and wirele ss Internet access. There are 25 other licenced 
operators (not all of them active) offering specific telecom services, of which 14 Internet services 
providers (IPS) and six Internet network licensees.49 
4.84.   In 2009, the Government nationalized BTL, retaining th e majority of the shares.50 Lengthy 
legal proceedings took place regarding agreements signed between the Government and BTL in 
2005 as well as on the amount of compensation that the current Government should pay for BTL's 
nationalization.51 In an initial agr eement reached with BTL's former shareholders in September 
2015, the Government paid a partial settlement of BZ$65 million based on its share value 
estimate. In mid -2016, an international arbitration tribunal issued a final ruling setting the 
compensation figure at BZ$458 million.52 The Government was due to pay half of the outstanding 
amount in July 2016 and the rest one year later.  
4.85.   Years of insufficient competition in the market resulted in underinvestment, with the 
country's telecom infrastructure lagging  behind. Currently, however, growing competition from 
Speednet, ISPs and other market players has prompted BTL to launch a reform strategy ("New 
BTL") aiming to become a more competitive and commercially  oriented operator and offer better 
quality and cheap er prices to consumers. Since 2014, BTL has taken steps to modernize its 
networks infrastructure and improve broadband connectivity and quality. In 2016, BTL signed a 
contract with a global telecom company to upgrade its nationwide network with LTE technol ogy for 
its DigiCell mobile brand. The LTE network was expected to be operational by end -2016.53 
4.86.   The Government has also adopted measures to improve affordability of telecom services. In 
September 2014, it set the GST rate at 0% on all Internet services.54 Most notably, in a bid to 
improve competition, the Government required BTL to open its networks to VoIP services in April 
2013.  
4.87.   A positive development in Belize's telecommunication sector since the last review was the 
establishment of the country's first In ternet Exchange Point (IXP) in April 2016. The advantages of 
setting up this national IXP are to improve delivery and reduce the cost of local internet traffic by 
eliminating the expensive and inefficient practice of sending domestically  bound traffic thro ugh 
overseas IXPs.  
4.4.3.2   Institutional and regulatory framework  
4.88.   The telecommunication sector is governed by the Belize Telecommunications Act, 2002 
(Cap. 229) and related regulations.55 The Act opened up to competition the telecommunications 
market without distin ction between national and foreign investors.  
4.89.   The Public Utilities Commission (PUC) is the sector's regulator.56 Under the Belize 
Telecommunication Act, PUC's responsibilities include issuing licences and determining the 
                                                
48 It has been estimated th at BTL held a 61% share of the mobile market by the end of 2015. BMI 
Research online information. Viewed at: http://www.teleco msinsight.com/industry -trend -analysis -btl-smart -
nationwide -lte-launch -positive -for-belite -telecom . 
49 Public Utilities Commission online information. Viewed at: http://www.puc.bz/index .php/ 
publications/telecom -sector . 
50 Nationalization was effected through the Belize Telecommunications (Assumption of Control over 
Belize Telemedia Limited) Order, Statutory Instrument No. 104 of 2009. The Government currently holds 63% 
of BTL's share ca pital, but in June 2016 agreed to sell BZ$15 million in BTL shares to the Social Security Board.  
51 In March 2009, the Public Utilities Commission  challenged the validity of the agreements in the 
Supreme Court of Belize. To date, there has been no hearing r egarding the PUC's challenge.  
52 Of the total amount due, 40% is to be paid in foreign currency and 60% will be paid in Belizean 
dollars and be held by a trust appointed by the former shareholders. EIU online information. Viewed at: 
http://country.eiu.com/article.aspx?articleid=1404378324&Country=Belize&topic=Economy&sub topic=Forecas
t&subsubtopic=Fiscal+policy+outlook&u=1&pid=814404265&oid=814404265&uid=1 . 
53 BMI Research online information. Viewed at: http://www.telecomsinsight.com/industry -trend -
analysis -btl-smart -nationwide -lte-launch -positive -for-belite -telecom . 
54 Statutory Instrument No. 49, 27 September 2014.  
55 The Belize Telecommunications Act and other regulations may be consulted at t he Public Utilities 
Commission's website at: http://www.puc.bz/index.php/publications/telecom -sector/telecom -laws-of-belize . WT/TPR/S/ 353 • Belize  
 
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  conditions attached to them, setting  performance standards (including quality of service and 
interconnection), managing the radio frequency spectrum, regulating rates and tariffs, managing 
the universal service fund, investigating consumer complaints, and solving disputes between 
industry op erators.57 In 2014, the Telecommunications Act was amended to establish that all 
regulations developed by the PUC require the approval of the Minister responsible for public 
utilities.  
4.90.   The Belize Telecom munications (Licensing Classificiation Authorization a nd Fee Structure) 
Regulations (2002) establish two types of licence: individual licences and class licences. Individual 
licences are specific to an operator and cover the basic public switched telephone network services 
(PSTN), mobile and wireless services , and any service requiring frequency spectrum. Class licences 
are issued where individual licenses are not justified but there is still a need to place certain 
conditions on the provision of the services; they are issued as general authorizations by the P UC, 
set the same conditions to all licensees, and apply to services such as data transmission, resale, 
internet, value -added services and private networks.58 In the last TPR, the authorities indicated 
that they intended to review the licensing regulations i n order to set out more clearly the services 
covered by each type of licence. Draft amendments were prepared in this regard but were never 
promulgated. The regulations require PUC to grant licences on non -discriminatory terms. All 
licences are granted for a period of 15  years. Annual licence fees are payable to the PUC as from 
the second year at a rate of 1.5% of gross revenues from the previous year.  
4.91.   Under the Belize Telecommunications Act (section 22), licensed services providers are 
required, when reques ted, to enter into interconnection and infrastructure sharing agreements. 
Interconnection must be assured at any technically feasible point in the network, in a reasonable 
time-frame, on non -discriminatory and transparent terms, and at cost -oriented charge s (based on 
incremental cost). The Interconnection and Infrastructure Sharing Regulations Order (2010) 
further develops the legal obligations of licensees in this respect.59 Telecom services providers may 
reach agreements between themselves regarding interc onnection, and these agreements must be 
submitted to the PUC for final approval.60 Where services providers fail to reach agreement within 
60 days of a request for interconnection, one or both parties may request the PUC to intervene 
and establish binding t ariffs and other terms and conditions. In 2011, BTL and Speednet reached 
an interconnection agreement that they had been negotiating for some time.  
4.92.   The PUC is empowered to regulate rates and tariffs for telecom services in cases where 
there is a sole or do minant service provider, where cross -subsidization is practiced by a sole or 
dominant service provider, or where anti -competitive practices are detected.61 In 2011, the PUC 
issued the Belize Telecommunications (Tariffs, Fees and Charges) Regulations contain ing detailed 
provisions on principles and methodologies for the determination of tariffs, rates, fees and charges 
in the above -mentioned three cases. Except for the rates regulated by the PUC, all other rates for 
telecommunication services are to be determ ined by the market. In 2004, the PUC exercised its 
power to regulate rates and issued a decision on tariffs regarding fixed -line domestic and 
international calls.  There were no new tariff decisions taken during the review period.  
4.93.   Number portability is not implemented. The authorities indicated that there is not enough 
demand from the public for it.  
                                                                                                                                                  
56 The PUC is composed of six commiss ioners appointed by Cabinet. Two commissioners are appointed 
every two years.  
57 In 2010, the PUC was involved in a dispute between BTL and Speednet over infrastructure sharing . In 
2014, Speednet again requested the PUC to settle a dispute as an infrastruct ure sharing issue, but the PUC 
determined that the matter was a provider -consumer issue. There were no other disputes during the review 
period.  
58 Section 4 of the Telecommunications (Licensing Classification, Authorization, and Fee Structure) 
Regulations, 2002, Statutory Instrument No. 110 of 2002.  
59 Belize Telecommunications Interconnection and Infrastructure Sharing Regulations Order (Amended), 
2010. 
60 The authorities indicated that some licensees had executed interconnection agreements without 
formal app roval by the PUC and that this was being address ed by the regulator.  
61 Section 26 of the Belize Telecommunications Act , 2002.  WT/TPR/S/ 353 • Belize  
 
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  4.94.   The PUC is responsible for regulating the universal service obligation and may establish a 
universal service fund into which telecom services providers must cont ribute.62 No such fund has 
been set up yet. The authorities indicated that all services providers have universal service 
obligations within authorized areas.  
4.95.   The importation or use of certain telecommunications equipment (as specified in a 
Schedule) is proh ibited, unless the PUC issues a permit in respect of that type of equipment.63 
Applications must be submitted in writing. The PUC may take up to three months to review the 
application, test samples and grant type approval for the equipment. The PUC may reco gnize type 
approvals granted by other countries.  
4.96.   The business tax on telecommunication services operators is levied at a rate of 19% of 
receipts from the provision of telecommunication services.  
4.4.4   Transport  
4.97.   The transport sector accounts for around 4% of GDP.  The extent and quality of transport 
infrastructure in Belize lags behind other countries in the region.64 Deficiencies in road and port 
infrastructure represent a costly impediment to trade and tourism. However, in recent years the 
Government has mobilized  bilateral and multilateral financing for transport infrastructure, 
particularly in the road network to connect key tourist centres. In March 2013, it announced a 
BZ$60 million infrastructure project to be implemented by a new state -owned company, Belize 
Infrastructure Limited.65 Also, a first National Transportation Master Plan was launched in 2014, 
which is to be implemented in three phases, spanning beyond 2030; one of its main objectives is 
to increase Belize's connectivity to international markets.  
4.98.   The Ministry of Works and Transport is the main government entity responsible for policy 
formulation and implementation in the sector, but other agencies are also involved including the 
Ministry of Tourism and Civil Aviation; Ministry of Strategy and Finance; the Ministry of Energy, 
Science and Technology ; and the Belize Port Authority. Improved transport infrastructure is crucial 
to increase Belize's connectivity and economic integration in the region, as well as to support 
growth in the tourism sector.  
4.4.4.1   Air tr ansport and airports  
4.4.4.1.1   Main features  
4.99.   Belize's air transport system consists of the Philip S. W. Goldson International Airport 
(PGIA), located 16 km outside Belize City; 15 public (government -owned) aerodromes (of which 
the municipal aerodromes of Belize City , San Pedro, Dangriga, Caye Caulker, Placencia, Corozal 
and Punta Gorda serve commercial airlines); and over 20 privately  owned aerodromes, including a 
heliport.  
4.100.   The PGIA is owned by the Government, but has been privately managed since 2004 by the 
Belize Airport Concession Company Limited (a consortium of Belizean investors) under a 30 -year 
concession contract. In recent years, PGIA's runway was extended (to 9,700 feet , or 2,981 
meters) in order to accommodate larger aircraft, while other projects are unde r way to improve 
airport capacity with a view to diversifying the sources of tourism. In 2016, the Government 
launched a project to upgrade air traffic control facilities and radar systems, and air traffic control 
officials have been trained and their numb er increased. The PGIA provides services to over 
550,000 passengers a year, out of which nearly 256,000 are international arrivals (2015).66 
                                                
62 Sections 33 and 34 of Belize Telecommunications Act, 2002.  
63 Telecommunications (Importation and Distribution of Type Approved T elecommunications, 
Broadcasting and Radio Communication Equipment) Regulations, 2002, S.I. 152 (Revised edition 2003).  
64 Belize was ranked 100th (out of 142 countries) on basic infrastructure provision in the WEF Global 
Competitiveness Index (GCI) for 2011 -12. GCI data on Belize for more recent years is not available.  
65 IDB (2014), Private Sector Assessment of Belize . Viewed at: http://comp etecaribbean.org/wp -
content/uploads/2015/02/2014 -Belize -Private -Sector -Assessment -Report.pdf . 
66 PGIA online information. Viewed at: http://www.pgiabelize.com/statistics.htm . WT/TPR/S/ 353 • Belize  
 
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  4.101.   The public domestic aerodromes are managed by the Belize Airports Authority (BAA). 
Modernization of the municipal ae rodrome in Belize City has been recently completed, and work to 
improve the municipal airport in Placencia is ongoing.  
4.102.   Aero Dispatch Services Limited, a private domestic company, is the only authorized agent 
to provide ground handling services at PGIA. Aer o Dispatch Services Ltd. operates under a private 
contract.  
4.103.   Five international carriers provide direct flights connecting Belize with several U.S. and 
Central American cities. These are: American Airlines  (Los Angeles, Dallas, Miami, and Charlotte); 
Delta Airlines (Atlanta and Los Angeles) ; Southwest Airlines (Houston); Avianca (El  Salvador) ; and 
Copa Airlines (Panama City). However, there are no direct air links with Europe. Achieving this 
would greatly improve Belize's air connectivity and help boost tour ism. 
4.104.   Belize has two domestic regular airlines: Tropic Air and Mayan Island Air. Tropic Air offers 
internal and regional scheduled services. In recent years, Tropic Air has expanded its regional 
routes which  now include: Roatan, San Pedro Sula and Tegucigal pa in Honduras; Guatemala City 
and Flores in Guatemala; and Cancun and Merida in Mexico. Maya Island Air has ceased its 
regional flights, and only operates within Belize. There are also three charter companies (Javier's 
Flying Service, Caribee Air Service Limited and Astrum Helicopters) providing internal air services. 
All these companies (regular and charter) are privately owned.  
4.105.   Passengers departing from the PGIA on international flights are subject to a departure tax, 
which is levied at a rate of US$35. 50 for non -Belizean citizens and non -residents; and BZ$35.00 
for Belizean citizens and permanent residents. The taxes are collected and retained by the Belize 
Airport Concession Company.  
4.4.4.1.2   Institutional and regulatory framework  
4.106.   The Ministry of Tourism and Ci vil Aviation is responsible for the air transport sector. The 
Department of Civil Aviation, under the Ministry, is the regulatory and oversight body in all civil 
aviation matters. Its main function is to ensure the safety of air aviation and promote the 
development of the civil aviation industry. The Director of Civil Aviation is responsible for issuing 
licences for commercial and non -commercial aviation services and aircraft. Other responsibilities of 
the Department of Civil Aviation include licensing of p ersonnel, overseeing aerodromes safety as 
well as providing air traffic control services and aeronautical information services.67 
4.107.   The authorities indicated that so far licences/certificates have been granted to: 1 
international airport operator; 15 domestic  public aerodromes; 5 national airlines of  which 2 are 
commercial (Tropic Air and Mayan Island Air); 60 aircraft; and 5 aircraft maintenance 
organizations. Local and foreign private investors may apply to the Department of Civil Aviation for 
a licence to o perate an aerodrome as long as they meet the requirements set out in the Civil 
Aviation Act, including the approvals from the Ministry of National Security, the Department of the 
Environment and the Lands Department; they must also meet relevant ICAO aerod rome 
standards. There are no equity limitations on the participation of foreign investment in airlines 
registered in Belize.  
4.108.   Domestically registered airlines must be repaired and maintained either by companies 
certified by the Department of Civil Aviation to provide these services within Belize, or by 
companies abroad that have been approved by the Department of Civil Aviation. Belize does not 
regulate the provision of computer reservation services.  
4.109.   The Belize Airport Authority (BAA) is a statutory board th at manages the Government 
aerodromes/airstrips, except the international airport which, although owned by the BAA, is 
operated under a concession by a private consortium (see above). BAA's functions include 
managing the day -to-day operations of the se airports, the establishment of fee structures for the 
                                                
67 Belize Department of C ivil Aviation online information. Viewed at: http://www.civilaviation.gov.bz . WT/TPR/S/ 353 • Belize  
 
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  services provided by airports (e.g. air traffic control and aeronautical information), and the 
provision, maintenance and expansion of airport infrastructure.68 
4.110.   The air transport sector is primarily governed by the Civil Aviation Act (2000), Cap. 239. 
There were no fundamental changes made to the Act during the review period. The authorities 
indicated that they have plans to amend the Civil Aviation Act on matters pertaining to safety 
management, accident inve stigation and enforcement; but work is still in the drafting phase. A 
number of new regulations were issued under the Belize Civil Aviation Regulations (BCARs). There 
were also minor changes to the Belize Airports Authority Regulations regarding the implem entation 
of the passenger user fee for domestic flights, which was increased from BZ$5.00 in 2012 to 
BZ$6.00 in 2015 for every flight; the fee is paid to the BAA.69 
4.111.   Belize is a contracting State of the International Civil Aviation Organization, and a member  
of the Corporación Centroamericana de Servicios de Navegación Aérea (COCESNA), which provides 
regional aerial navigation and air traffic control services.70 In addition, Belize is a signatory to two 
regional air services agreements (ASA). One is the Multil ateral Agreement Concerning the 
Operation of Air Services within the Caribbean Community (CARICOM -MASA), which entered into 
force in November 1998 and seeks to maximize for CARICOM air carriers the economic and social 
benefits arising from aviation activit ies to, from, and within the Caribbean Community.71 The other 
is the Air Transport Agreement among the Member States and Associate Members of the 
Association of Caribbean States72 (ATA); it entered into force in September 2008 initially for eight 
states, inc luding Belize, and two territories.73 
4.112.   At the bilateral level, Belize maintains ASAs with Austria (2001); the United Kingdom; and 
the United States (1977), which is a Bermuda II -type agreement.74 Recently, Belize concluded an 
ASA with Mexico, which is now pen ding ratification by the Belizean Parliament. Currently, Belize's 
ASAs have a restrictive scope, covering at the most 3rd and 4th freedom rights. Although there are 
no legal restrictions on the provision of cabotage by foreign airlines, Belize's general po licy is to 
not allow it. The authorities indicated, nevertheless, that they are gradually moving in the direction 
of some liberalization and are considering negotiating an open -skies agreement with the United 
States. There are also bilateral negotiations u nder way with Guatemala, Panama and the United 
Arab Emirates, and talks are expected to start with Canada in the near future.  
4.4.4.2   Maritime transport and ports  
4.4.4.2.1   Main features  
4.113.   Belize's main ports of entry are the Port of Belize Ltd. (Belize City) and the Port of Big 
Creek (Stann Creek district); together they handle around 90% of import shipments and a 
substantial part of exports.75 There are two other ports hand ling cargo (Puma Energy and 
WitConcrete) and four passenger ports (Fort Street Tourism Village, Punta Go rda, Saca Chispas, 
and Harvest Caye, which opened operations in November 2016). Fort Street Tourism Village in 
Belize City handles 99% of passenger calls. Most Belizean ports are privately run, either by 
national or foreign entities (Table 4.13).  
                                                
68 Belize Airport Authority online information. Viewed at: http://belizeairportauthority.com/function -and-
responsibilities/ . 
69 Belize Airports Authority (Domestic Flights) (Passenger User Fees) (Amendment) Regulations 2015, 
Statutory Instrument No. 16 of 2015; and Belize Airports Authority (Domestic Flig hts) (Passenger user Fees) 
(Amendment) Regulations 201 2, Statutory Instrument No. 84 of 2012.  
70 For more information on COCESNA, see: http://cocesna.org/ . 
71 CARICOM online information. Viewed at: http://caricom.org/about -caricom/who -we-are/our -
governance/about -the-secretariat/offices/office -of-the-general -council/treaties -and-agreements/multilateral -
agreement -concerning -the-operation -of-air-services -within -the-caribbean -community . 
72 The Association of Caribbean States  (ACS) is a union of nations centered on the Caribbean Basin, with 
twenty -five member states and seven associate members . 
73 The text of the ATA can be found at: http://www.acs -aec.org/sit es/default/files/Final_ATA_En.pdf . 
74 A Bermuda II -type agreement is a highly restrictive bilateral agreement, where normally capacity and 
fares are pre -determined.  The term originates from the revision to the original Bermuda I agreement, which 
was the fi rst bilateral ASA negotiated between  the United Kingdom and the U.S. after World War II.  
75 Inter-American Development Bank (2011). Existing Issues of Transport in Belize City , Annex 03. 
Viewed at: https://www.google.ch/?gws_rd=ssl#q=Existing+issues+of+Transport+in+Belize+city+2011 . WT/TPR/S/ 353 • Belize  
 
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  Table 4.13 Belize ports, 2016  
Name and location  Cargo/passengers  Operated by  
Belize City Port,  
Belize District  Containerized, bulk and break -
bulk cargo; mainly 
manufactured products  Port of Belize Ltd.,  
local private company  
Port of Big Creek,  
Stann Creek District  General cargo and break -bulk. 
Exports of bananas, citrus and 
crude oil  Banana Enterprises Ltd.,  
local private company  
Puma Energy,  
Belize City  Bulk importation of petroleum 
products  Puma Energy , foreign pri vate company  
Wit Concrete,  
Belize  City Bulk exports of molasses  Belize Sugar Industries/American Sugar 
Refineries Ltd., private company  
Fort Street Tourism 
Village,  
Belize City  Cruise terminal  Carnival Cruise Line (foreign publicly traded 
company) and D iamonds International, 
subsidiary of Almond Diamonds Ltd.  
Punta Gorda Port,  
Toledo District  Passenger port  Border Management Agency,  
public sector statutory body under the 
Ministry of Tourism and Civil Aviation  
Saca Chispas Port,  
San Pedro  Passenger por t Border Management Agency,  
public sector statutory body under the 
Ministry of Tourism and Civil Aviation  
Harvest Caye,  
Placencia  Cruise terminal  Norwegian Cruise Line Holdings Ltd., foreign 
publicly traded company  
Source:  Information provided by the Bel ize Port Authority.  
4.114.   The Port of Belize Ltd. is the largest in the country; it has deep-water  facilities allowing it 
to handle containerized cargo (mainly manufactured imports from the U.S.), as well as an 
increasingly high traffic of cruise ships. Some ten  major shipping lines operate cargo services to 
Belize City port. The port is operated by a local private company, Port of Belize Limited (PBL). PBL 
used to also manage the Commerce Bight Port in Dangriga under a lease contract, but in 2013 the 
Government terminated the contract and took over Commerce Bight port facilities. Currently, PBL 
is under receivership.  
4.115.   The Port of Big Creek is the second largest and handles bulk and break -bulk. It is mainly 
used for the export of bananas, and is owned and operated  by Banana Enterprises Limited, a 
private company registered in Belize. It also exports citrus and crude oil, and imports general 
cargo. In 2015, the consolidated throughput of Port of Belize Ltd. and Port of Big Creek was 
554,485 metric tons, down from 72 0,487 in 2014, due in part to a significant drop in commodities 
exports (Table 4.14).  
Table 4.14 Port of Belize Ltd.a and Port of Big Creek: consolidated annual ship calls and 
cargo throughput, 2010 -15 
Year Ship calls  Import  Export  Throughput 
(metric tons)  TEUs  
2010 406 403,712  580,545  984,257  53,826  
2011 375 438,010  533,013  971,023  39,655  
2012 226 371,202  431,521  802,723  50,223  
2013 422 401,906  436,576  838,482  54,848  
2014 366 334,661  385,826  720,487  48,01 6 
2015 328 270,704  283,781  554,485  58,941  
a Figures for the Port of Belize Ltd. include also the throughput from the ports of Wit Concrete and 
Puma Energy.  
Source:  Information provided by Belize Port Authority.  
4.116.   A new development since the last TPR is the  construction of the Harvest Caye cruise 
terminal as part of an island resort project in southern Belize undertaken by Norwegian Cruise Line WT/TPR/S/ 353 • Belize  
 
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  Holdings Ltd. The US$50 million investment has benefited from fiscal incentives (exemptions from 
import duties and GST tax). The cruise terminal started operations in November 2016.  
4.117.   Belizean ports face a number of challenges. In addition to the coral reef barrier that limits 
the berthing for larger ships such as Panmax , the ports face infrastructure deficiencies (e.g. lack of 
cold storage facilities), burdensome bureaucratic procedures, delays in loading and unloading, and 
relatively high port charges, all of which raise trading costs and affect their competitiveness.76 
4.118.   According to the World Bank's Doing Business Report  2015, the time and the costs of port 
and terminal handling for both imports and exports  in Belize  are among the longest and highest 
among comparable countries in region (Chart 4.2 and Chart 4.3). Another study suggests that 
Belize is losing business to re gional ports, such as Puerto Barrios in Guatemala.77 This helps 
explain, at least in part, the declining trend in the throughput figures of Belize's major port s. 
Chart 4.2 Time required for port and terminal ha ndling, 2015  
012345
export
importChart 4.[A]
Time required for port and terminal handling, 2015
Source:   World Bank (2015), Doing Business Report 2015.(Days)
 
Source:  World Bank (2015), Doing Business Report 2015 . 
4.119.   The main laws governing the maritime transport sector are the Port Authority Act (2000) 
Cap 233, the Harbours and Merchant Shipping Act (2003) Cap 234, the Harbours and Merchant 
Shipping  Amendment Act (2007), and the Merchant Ships (Registration) Act 2010. There have 
been no legislation or policy changes in the sector since the last TPR, but the authorities indicated 
that several draft laws are waiting to be submitted to Cabinet in areas such as Port State Control 
(inspection of foreign vessels) and water taxis. Belize is not a signatory to any bilateral or 
plurilateral maritime agreements that provide for preferential treatment.  
4.120.   The Belize Port Authority (BPA), under the Ministry of Works  and Transport, is the primary 
regulatory body for ports and maritime transport. BPA administers the Port Authority Act, under 
which it is responsible for matters such as aids of navigation, ports inspection, compliance with 
international conventions relat ing to safety and security of ships and ports (ISPS), pilotage 
regulation and participation in approval of port fees, among others. BPA is also responsible for 
administering the Harbours and Merchant Shipping Act dealing with inspection of foreign and 
dome stic ships, certification of seafarers and implementation of the International Maritime 
                                                
76 IDB (2013), Transport Sector in Belize , Technical Note No. IDB -TN-607, December. Viewed at: 
https://publications.iadb.org/handle/11319/6022 . 
77 Inter-American Development Bank (2011). Existing Issues of Transport in Belize City , Annex 03. 
Viewed at: https://www.google.ch/?gws_rd=ssl#q=Existing+issues+of+Transport+in+Belize+city+2011 . WT/TPR/S/ 353 • Belize  
 
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  Organization (IMO) conventions (in particular MARPOL and SOLAS). The domestic fleet comprises 
5,616 registered vessels (under 65 feet); a total of 6,581 masters of vess els have been licensed 
and registered.78 
Chart 4.3 Cost of port and terminal handling, 2015  
01002003004005006007008009001,000
 export
 importChart 4.[B]
Cost of port and terminal handling, 2015
Source:   World Bank (2015), Doing Business Report 2015.(US$)
 
Source:  World Bank (2015), Doing Business Report 2015 . 
4.4.4.2.2   Institutional and regulatory framework  
4.121.   The International Merc hant Marine Registry of Belize (IMMARBE) issues registration under 
the Belizean flag to international vessels through its headquarters in Belize City and offices abroad. 
No restrictions apply on ownership, investment or personnel for registration.79 A depar tment of the 
Ministry of Finance, IMMARBE was operated until recently by a foreign company under a 
Management Services Agreement with the Government. However, in June 2013, the Ministry of 
Finance announced the termination of the agreement and the takeover  of IMMARBE by the 
Belizean Government.80 The registry had some 940 ships at the end of 201281; in 2015 , the 
number of registered vessels was 879.82 
4.122.   Belizean laws do not contain provisions restricting the provision of maritime cabotage to 
service providers ba sed on nationality, residency or registration criteria. Foreign shipping 
companies may provide these services. Such services consist mainly of passenger transport 
betwe en Belize City and the islands.  
4.123.   There are no legal restrictions concerning foreign owner ship or operation of ports, and the 
same conditions apply to domestic and foreign companies. The Minister responsible for ports (the 
Minister of Works and Transport) has the authority to delineate and appoint harbours and ports in 
Belize83, and to declare a  port public. However ports may be privately owned and operated. Under 
the Port Authority Act Cap 233, the Minister may, after consultation with the BPA, grant a licence 
to any person, corporation, or other body to construct and operate a private port subj ect to such 
terms, conditions and restrictions and on the payment of such fees as the Minister may consider 
                                                
78 Information provided by the BPA.  
79 IMMARBE, viewed at: http://www.immarbe.com/operational -information/registration -department/ . 
80 Shortly before the takeover , Belize had been blacklisted by the European Union on allegations of 
illegal, unreported and unregulated (IUU) fishing on the high seas by foreign -owned Belize -flagged vessels.  
81 Seatrade online article, "Belize Government nationalizes the ship registry", 12 June 2013. Viewed at: 
http://www.seatrade -maritime.com/news/americas/belize -government -nationalises -the-ship-registry.html# . 
82 Information provided by the authorities of Belize.  
83 Article 3 of the Harbours and Merchant Shipping Act and Article 20 of the Port Authority Act.  WT/TPR/S/ 353 • Belize  
 
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  appropriate. The licence may be for a period not exceeding 30 years and must define the limits of 
the port and make provision for the collection of tariffs and fees.  
4.124.   The process for establishing port fees follows several steps: the port wishing to change 
fees submits a proposal to the BPA, which considers it and consults with stake holders. The 
proposal then goes to the Minister responsible for ports,  and finally to the Cabinet for approval. As 
mentioned before, Belize's port fees are among the highest in the region, which impairs its 
competitiveness and may be a deterrent to maritime transport activity.  
4.4.5   Tourism  
4.4.5.1   Main features  
4.125.   The tourism sector is the mainstay of the Belizean economy. According to the World Travel 
and Tourism Council, the travel and tourism industry directly contributed 14.7% to GDP in 2015, 
while its total contribution to the economy was 38.6%. Moreover, the industry is a major foreign  
exchange earner, captures a significant share of capital investment, and accounts for over a third 
of total e xports (Table 4.15).  
Table 4.15 Belize: Absolute and relative contribution of the tourism sector, 2 015 
 Absolute 
contribution  Relative contribution  
(% of total)  
Direct contribution to GDP (US$ million)  255.8  14.7 
Total contribution to GDP (US$ million)  674.5  38.6 
Direct contribution to employment ('000 jobs)  18.2 13.1 
Total contribution to employmen t ('000 jobs)  48.5 34.8 
Capital investment (US$ million)  93.4 28.9 
Visitor exportsa (US$ million) 396.5  34.5 
a Money spent by foreign visitors in Belize.  
Source:  World Travel and Tourism Council, Travel & Tourism. Economic Impact 2016. Belize . Viewed at : 
https://www.wttc.org/ -/media/files/reports/economic%20impact%20research/countries%202016 
/belize2016.pdf . 
4.126.   With its white sand, unspoi lt coastal line and the second largest coral reef in the world, 
Belize has traditionally been a beach and marine destination receiving a constant flow of overnight 
tourists, who stay on average 6.6 days. Since the early 2000s, the country has also become a n 
important receptor of single -day cruise ship tourists, with almost 75% of all visitors arriving in 
cruise ships. Belize has also expanded its offer of tourism products to include nature and culture 
based eco -tourism activities. While the tourism industry  has shown good performance during the 
review period, it faces a number of challenges, one of them being the loss of correspondent 
banking relationships by several local banks in recent times. The authorities have indicated that 
this situation affects the movement of funds across borders, which is of paramount importance to 
the tourism industry.  
4.127.   The number of overnight tourist arrivals has grown steadily since 2010, reaching just over 
341,000 in 2015. The United Sates continues to be the largest inbound mar ket, accounting for 
63% of all overnight tourist arrivals in 2015, followed by Europe – especially the U nited Kingdom – 
(12%), Canada (7%), Guatemala (4.4%) and Mexico (1.9%) (Table 4.16). The hotel occupancy 
rate, although higher in 2015 than in 2010, rem ains low at just over 42.7%. There is a lack of 
international -standard hotels and restaurant facilities.  
4.128.   In 2015, 75% of overnight visitors entered Belize through the Philip S. W. Goldson 
International Airport (PGIA). The same year, 12% of visitors arrived  through the Santa Elena 
border (Corozal District) with Mexico, 10% through the border with Guatemala, and the rest 
through seaports.84 
                                                
84 Information provided by the Belize Tourism Board.  WT/TPR/S/ 353 • Belize  
 
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  Table 4.16 Key tourism indicators 2010 -15 
 2010  2011  2012  2013  2014  2015  
Overnight visitor 
arrivals  241,919  250,263  277,135  294,177  321,220  341,126  
United States  145,872  156,293  176,642  183,513  199,320  215,183  
EU 30,025  30,142  29,362  32,191  38,905  40,945  
Canada  18,246  20,093  24,223  26,713  26,397  24,026  
Belizeans living abro ad 8,817  10,157  12,102  11,489  13,858  15,170  
Guatemala  12,448  7,423  7,048  8,860  9,630  9,271  
Mexico  4,840  5,598  5,162  5,842  6,938  6,674  
Other  21,672  20,557  22,594  25,567  26,171  29,859  
Cruise visitor arrivals  764,628  727,878  640,734  677,350  968,131  957,97 5 
Total arrivals  1,006,547  978,141  917,869  971,527  1,289,351  1,299,101  
Number of port calls  279 269 236 229 345 325 
Hotel occupancy rate 
(%) 34.9 39.6 42.1 46.5 47.3 42.7 
Average length of stay 
(days)  7.3 7.2 7.0 7.4 6.7 6.6 
Source:  Information provid ed by the Belize Tourism Board.  
4.129.   The growth in the number of cruise ship tourists – depend ent on the operational plans of 
cruise companies and competition from other Caribbean destinations – has shown a less steady 
trend. After reaching a peak of 968,131 vi sitors in 2014 (345 ship calls), the number of cruise 
tourists decreased slightly to 957,975 in 2015 (325 ship calls). It is estimated that cruise tourists 
spend almost US$78 per person.85 Most cruise traffic disembarks in Belize City, with approximately 
3,000 passengers per cruise on a three times  per week basis; this puts considerable pressure on 
the city's transportation system, waste disposal and other infrastructures.86 An increase in cruise 
traffic is expected as a result of the opening of the new Harve st Caye Cruise Port in November of 
2016.  
4.130.   In order to increase the economic and social returns from tourism and diversify tourism 
products, in recent years Belize has actively promoted tourism to its Mayan archaeological sites 
and nature -based tourist attra ctions. In 2015, the Mayan ruins received almost 334,000 visitors 
(up from 200,500 in 2010) and the national parks and reserves were visited by some 63,500 
tourist s (up from 48,600 in 2010). In the same year, over 360 tour operators and 1500 tour 
guides conducted  business in Belize.87 
4.4.5.2   Institutional and regulatory framework  
4.131.   The responsibility for the tourism sector resides primarily with the Ministry of Tourism and 
Civil Aviation. The Belize Tourism Board (BTB) is a statutory body within the Ministry in charg e of 
researching, planning, development and promoting the tourism industry on a national and 
international level. The BTB is governed by a Board of Directors appointed by the Minister of 
Tourism, nine of which belong to the private sector. Other government al entities involved in 
tourism include the Ministr y of Natural Resources and the Environment; the Ministr y of Agriculture 
and Fisheries; the Ministr y of Works and Transport; the Coastal Zone Management Authority; 
BELTRAIDE ; and the National Institute of C ulture and History (NICH).88 Private stakeholders such 
as the Belize Tourism Industry Association (BTIA) and the Belize Hotel Association (BHA), and 
several environmental NGOs complement the institutional framework for tourism.  
                                                
85 Business Research and Economic Advisors (BREA), Economic Contribution to Cruise Tourism to the 
Destination Economies , Volume I Aggregate Analysis . Viewed at: http://www.f -cca.com/downloads/2015 -
cruise -analysis -volume -1.pdf. 
86 IDB (2011), Annex 05  – Existing Issues of Tourism in Belize City . Viewed at: 
http://www.google.ch/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0ahUKEwjr16bZjc3OAhWoKJoKHYl
BCbMQFggcMAA&url=http%3A%2F%2Fbelizecitycouncil.org%2Fresourcesmodule%2Fdownload_resource%2Fid
%2F146%2Fsrc%2F%40random4dc1b261cfd1d%2F&usg=AFQjCNHpvzxWHw7GPJNVZ2X9c9 -
6PgJVEg&sig2=UmhSrMQHM2OmKAX21oeAsw&bvm=bv.129759880,d.bGg . 
87 Information provided by the Belize Tourism Board.  
88 Since the previous TPR, the NICH has been moved to the Ministry of Youth, Sports and Culture.  WT/TPR/S/ 353 • Belize  
 
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  4.132.   Several pieces of legislation  govern the tourism industry, the main ones being: Belize 
National Tourism Council Act (2000)89; Belize Tourism Board Act (2000) and Subsidiary Tour Guide 
and Tour Operator Regulations; Belize Hotels and Tourist Accommodation Act (2000); Belize 
Hotels and T ourist Accommodation Act Subsidiary Laws (2003) on hotel minimum standards; 
Belize Timeshare Act (2007); Border Management Agency Act (1999) and subsidiary laws; and 
Retired Persons (Incentives) (Amendment) Act (2001).  
4.133.   There have been no fundamental change s to the regulatory framework since the last 
review. The only changes were the declaration of the Marco Gonzalez complex as the first Maya 
Site National Park and amendments to the Immigration and Nationality Act to relax visa 
requirements for citizens from  Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, 
Ecuador, Japan, Morocco, Paraguay, Peru and the Republic of Korea. The Ministry of Tourism and 
Civil Aviation is currently assessing the tourism legal framework in order to align it under an  
overarching National Tourism Act to serve as a galvanizing instrument for long -term planning and 
development for the industry. The new legal instrument would include the areas of climate change, 
investment regime (public –private partnerships), developing new destinations and building local 
participation in the industry via economic opportunities.  
4.134.   The tourism industry is guided by the National Sustainable Tourism Master Plan 2030 
(NTSMP), endorsed by the Cabinet in October 2012. Based on a diagnostic study,  the NSTMP sets 
guidelines for the development of the tourism sector, including government reforms and public –
private investments to ensure tourism is developed in a sustainable way. Some of the technical 
studies and works laid out in NSTMP are already und er way: analytical reports have been prepared 
on tourism taxation, the country's tourism brand, and standards for the operation and 
classification of hotels and tour operators, while upgrades in tourism infrastructure have been 
undertaken.  
4.135.   The Sustainable Tourism Programme (STP II)90, launched in March 2016, is designed to 
support the implementation of the NSTMP, with the aim of increasing tourism's contribution to the 
economy. The STP II focuses on promoting investments in key emerging tourist destinations and 
on institutional strengthening and capacity building for policy -making, destination planning and 
management.91 Key components of the STP II are to restore and expand visitor facilities at several 
archaeological sites and support the development of natur e-based tourist attractions and services.  
4.136.   Generally, there are no restrictions on foreign investment in tourism related -activities. 
However, tour operating companies must be at least 51% Belizean -owned, and only Belizean 
citizens or permanent residents may  be tour guides.  
4.137.   Hotels, tour operators , and tour guides must obtain a licence and register with the BTB in 
order to operate in Belize.92 Hotels and all lodgings  are required to levy a hotel tax of 9%. The tax 
is charged daily, and paid monthly to the BTB. All hotels and lodgings are subject to an annual 
application fee of BZ$25 and a licensing fee of BZ$5 per room.  
4.138.   Tourism activities may be eligible for import duty concessions under the Fiscal Incentives 
Act (Section 3). As a first stop for existing and pro spective investments, BELTRAIDE acts as a 
bridge between investors and the Government; it may recommend to the Ministry of Finance that 
an import duty waiver be granted to an eligible tourism -related investment on the importation of 
qualifying items requir ed for its operation. For example, tour operators may be granted an import 
duty exemption for the importation of tour vans and other tourism -related vehicles.  
4.139.   As part of Belize's efforts to diversify its tourist offer, BELTRAIDE is now promoting 
investment  in the development of medical tourism. The idea is to build upon the country's 
                                                
89 The Act established the Belize National Tour ism Council (BNTC) as a policy -making entity for the 
sector comprising representatives of government and industry. Currently, the BNTC is not operational.  
90 The Sustainable Tourism Program (STP I) was implemented in 2013, leading to the development of 
the NSTMP . In January 2016, a loan agreement was executed between IDB and the Government of Belize for 
implementation of the STP II.  
91 IDB online information, "Discovering Belize". Viewed at: http://www.iadb.org/en/mapamericas/belize -
old/discovering -belize,7789.html . 
92 BTB online information. Viewed at: https://btb.travelbelize.org/btb/licensing -and-registration . WT/TPR/S/ 353 • Belize  
 
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  experience with dental tourism, and exploit factors such as proximity to the U.S. market, being an 
English speaking country and the possibility to cater for a large community o f foreign retirees.  
4.140.   Belize has both natural and cultural resources that make it an attractive tourist 
destination, with significant growth potential. However, the development of the tourism industries 
faces a number of constraints, including insufficient q uality of tourism facilities and services, lack 
of technical skills, and poor land and air connectivity. The authorities also note challenges relating 
to climate change and safety and security issues. They seek to address these shortcomings 
through the imp lementation of the National Sustainable Tourism Master Plan.  
 WT/TPR/S/ 353 • Belize  
 
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  5  APPENDIX TABLES  
Table A1. 1 Merchandise exports by HS sections and main chapters, 2010 -15 
(US$ million and %)  
Description  2010  2011  2012  2013  2014  2015  
Total exports  305 379 403 416 365 329 
 Exports  270 328 339 334 307 268 
 Re-exports  35 52 63 81 58 61 
  (% of total exports)  
1 - Live animals; animal products  8.7 6.4 7.2 13.6 15.7 13.6 
 03. Fish and crustaceans, molluscs and other aquatic 
invertebrates  8.7 6.3 7.2 13.6 15.7 13.5 
 01. Live animals  0.0 0.0 0.0 0.0 0.0 0.1 
2 - Vegetable products  18.9 15.3 17.0 17.7 19.4 21.0 
 08. Edible fruit and nuts; peel of citrus fruit or 
melons  15.9 12.4 13.4 14.6 16.0 17.2 
 07. Edible vegetables and certain roots and tubers  2.0 1.7 1.7 2.0 2.7 2.9 
 11. Products of the milling industry; malt; starches; 
inulin; wheat gluten  0.3 0.9 0.6 0.8 0.6 0.5 
 09. Coffee, tea, maté and spices  0.0 0.0 0.0 0.0 0.1 0.2 
 12. Oil seeds and oleaginous fruits; miscellaneous 
grains, seeds and f ruit 0.0 0.0 0.1 0.1 0.1 0.2 
3 - Animal or vegetable fats and oils; prepared edible 
fats 0.0 0.0 0.0 0.0 0.0 0.0 
4 - Prepared foodstuffs; beverages, spirits and vinegar; 
tobacco  26.0 24.6 34.4 31.6 34.4 41.1 
 17. Sugars and sugar confectionery  10.7 9.8 13.9 13.9 15.9 21.4 
 20. Preparations of vegetables, fruit, nuts or other 
parts of plants  14.3 13.3 19.3 13.2 12.7 13.9 
 23. Residues and waste from the food industries  0.0 0.1 0.1 3.3 3.4 2.0 
 24. Tobacco and manufactured tobacco substitutes  0.2 0.2 0.2 0.1 1.0 1.9 
 22. Beverages, spirits and vinegar  0.4 0.9 0.6 0.8 0.8 1.2 
 21. Miscellaneous edible preparations  0.2 0.3 0.2 0.3 0.6 0.5 
5 - Mineral products  35.7 40.8 26.0 19.9 16.2 8.2 
 27. Mineral fuels, mineral oils and products of their 
distillati on 35.7 40.5 25.4 19.4 16.0 8.2 
6 - Products of the chemical or allied industries  0.7 1.4 1.6 0.7 1.5 2.2 
 33. Essential oils and resinoids; perfumery, cosmetic 
or toilet preparations  0.7 1.2 1.5 0.6 1.3 2.1 
7 - Plastics and articles thereof; rubber and  articles 
thereof  0.0 0.0 0.1 0.1 0.4 1.0 
 39. Plastics and articles thereof  0.0 0.0 0.0 0.1 0.3 0.9 
8 - Raw hides and skins, leather, furskins and articles 
thereof; travel goods, handbags; articles of animal gut  0.0 0.0 0.0 0.0 0.3 0.4 
 42. Articles of  leather; travel goods, handbags; 
articles of animal gut  0.0 0.0 0.0 0.0 0.3 0.4 
9 - Wood and articles of wood; wood charcoal; cork and 
articles of cork  1.3 1.6 1.4 0.7 1.0 1.5 
 44. Wood and articles of wood; wood charcoal  1.3 1.6 1.4 0.7 1.0 1.5 
10 - Pulp of wood or of other fibrous cellulosic material; 
paper and paperboard and articles thereof  0.5 0.4 0.2 0.2 0.2 0.1 
11 - Textiles and textile articles  0.0 0.1 0.1 0.1 1.2 0.7 
 61. Articles of apparel and clothing accessories, 
knitted or crocheted  0.0 0.0 0.0 0.0 0.7 0.5 
 62. Articles of apparel and clothing accessories, not 
knitted or crocheted  0.0 0.1 0.0 0.0 0.4 0.1 
12 - Footwear, headgear, umbrellas; prepared feathers 
and articles; artificial flowers  0.0 0.0 0.0 0.0 0.1 0.1 
13 - Articles of stone , plaster, cement, etc.; ceramic 
products; glass and glassware  0.0 0.0 0.0 0.0 0.1 0.1 
14 - Natural or cultured pearls, precious or semi -
precious stones, precious metals  0.4 0.5 0.2 0.1 1.0 0.7 
 71. Natural or cultured pearls, precious or semi -
precious s tones, precious metals  0.4 0.5 0.2 0.1 1.0 0.7 WT/TPR/S/ 353 • Belize  
 
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  Description  2010  2011  2012  2013  2014  2015  
15 - Base metals and articles of base metal  0.7 0.5 1.0 0.5 0.8 1.4 
 73. Articles of iron or steel  0.1 0.1 0.4 0.1 0.5 1.2 
 72. Iron and steel  0.3 0.3 0.2 0.2 0.2 0.1 
 82. Tools, implements, cutlery, spoon s and forks, of 
base metal.  0.3 0.2 0.3 0.2 0.1 0.1 
16 - Machinery and mechanical appliances; electrical 
equipment; television image and sound recorders  0.9 1.0 1.3 2.2 3.7 4.6 
 84. Nuclear reactors, boilers, machinery and 
mechanical appliances  0.4 0.5 1.2 1.2 3.5 4.3 
 85. Electrical machinery and equipment; sound 
recorders and reproducers  0.4 0.5 0.1 1.0 0.2 0.3 
17 - Vehicles, aircraft, vessels and associated transport 
equipment  0.2 0.8 0.7 0.5 1.4 1.2 
 87. Vehicles other than railway or tramway rolli ng-
stock, parts and accessories  0.2 0.6 0.4 0.3 1.1 0.6 
 89. Ships, boats and floating structures  0.0 0.1 0.2 0.2 0.2 0.4 
18 - Optical, photographic, precision, medical or 
surgical instruments; clocks and watche s; musical 
instruments  0.4 0.7 0.5 0.4 1.5 1.2 
 90. Optical, photographic, cinematographic, 
measuring, precision, medical or surgical 
instruments and apparatus  0.1 0.5 0.4 0.4 1.0 0.7 
 91. Clocks and watches and parts thereof  0.3 0.2 0.0 0.0 0.5 0.5 
19 - Arms an d ammunition  0.0 0.0 0.0 0.0 0.0 0.0 
20 - Miscellaneous manufactured articles  0.0 0.0 0.0 0.3 0.3 0.5 
 95. Toys, games and sports requisites; parts and 
accessories thereof  0.0 0.0 0.0 0.3 0.2 0.5 
21 - Works of art, collectors' pieces and antiques  0.5 0.0 0.0 0.0 0.0 0.0 
Others  4.9 5.9 8.3 11.2 0.6 0.1 
Source:  WTO Secretariat estimates based on data provided by the authorities.  WT/TPR/S/ 353 • Belize  
 
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  Table A1 .2 Merchandise imports by HS sections and main HS chapters, 2010 –15 
(US$ million and %)  
Description  2010  2011  2012  2013  2014  2015  
Total imports  702 799 861 931 1,003  1,030  
  (% of total imports)  
1 - Live animals; animal products  2.1 2.1 2.3 2.0 2.4 2.2 
 04. Dairy produce; birds' eggs; natural honey; edible 
products of animal origin  1.9 1.9 2.0 1.8 2.1 1.9 
 02. Meat and edi ble meat offal  0.2 0.2 0.1 0.2 0.2 0.2 
 01. Live animals  0.1 0.1 0.0 0.1 0.1 0.1 
2 - Vegetable products  2.1 2.0 2.4 2.4 2.5 2.2 
 10. Cereals  1.2 1.1 1.4 1.3 1.2 0.9 
 11. Products of the milling industry; malt; starches; 
inulin; wheat gluten  0.3 0.3 0.3 0.4 0.5 0.5 
 09. Coffee, tea, maté and spices  0.1 0.1 0.1 0.1 0.2 0.3 
 07. Edible vegetables and certain roots and tubers  0.3 0.3 0.3 0.3 0.3 0.3 
3 - Animal or vegetable fats and oils; prepared edible 
fats 1.0 1.2 1.3 1.2 1.4 1.6 
 15. Animal or vegeta ble fats and oils and their 
cleavage products  1.0 1.2 1.3 1.2 1.4 1.6 
4 - Prepared foodstuffs; beverages, spirits and vinegar; 
tobacco  8.1 7.4 8.5 8.6 16.6 15.0 
 24. Tobacco and manufactured tobacco substitutes  0.5 0.4 0.8 1.0 5.9 5.4 
 22. Beverages, sp irits and vinegar  1.2 1.4 1.5 1.5 2.5 2.4 
 23. Residues and waste from the food industries  1.7 1.4 1.6 1.5 3.2 2.2 
 21. Miscellaneous edible preparations  1.9 1.6 1.9 2.1 2.1 2.2 
 19. Preparations of cereals, flour, starch or milk  1.3 1.1 1.2 1.2 1.3 1.4 
5 - Mineral products  17.5 17.3 17.6 17.0 16.7 12.5 
 27. Mineral fuels, mineral oils and products of their 
distillation  16.0 15.6 16.1 15.3 15.1 11.3 
 25. Salt; sulphur; earths and stone; plastering 
materials, lime and cement  1.5 1.6 1.5 1.7 1.5 1.3 
6 - Products of the chemical or allied industries  8.2 7.9 8.4 8.0 7.9 8.0 
 38. Miscellaneous chemical products  1.9 1.9 2.1 2.0 1.9 1.9 
 31. Fertilizers  1.8 2.6 2.6 2.1 1.9 1.8 
 30. Pharmaceutical products  1.3 0.9 1.1 1.2 1.0 1.3 
 32. Tanning or dyeing ex tracts and their derivatives; 
dyes, pigments and paints  1.0 0.8 0.8 0.9 0.9 1.0 
7 - Plastics and articles thereof; rubber and articles 
thereof  4.0 3.7 3.9 4.0 4.8 5.5 
 39. Plastics and articles thereof  2.8 2.6 2.7 2.8 3.4 3.9 
 40. Rubber and articles th ereof 1.3 1.1 1.3 1.2 1.4 1.6 
8 - Raw hides and skins, leather, furskins and articles 
thereof; travel goods, handbags; articles of animal gut  0.2 0.2 0.2 0.2 2.3 2.1 
 42. Articles of leather; travel goods, handbags; 
articles of animal gut  0.2 0.2 0.2 0.2 2.3 2.1 
9 - Wood and articles of wood; wood charcoal; cork and 
articles of cork  0.8 1.0 0.6 0.8 1.0 1.1 
 44. Wood and articles of wood; wood charcoal  0.8 1.0 0.6 0.8 1.0 1.1 
10 - Pulp of wood or of other fibrous cellulosic material; 
paper and paperboar d and articles thereof  3.6 3.2 2.7 2.7 2.4 2.3 
 48. Paper and paperboard; articles of paper pulp, of 
paper or of paperboard  3.1 2.7 2.2 2.2 1.9 1.8 
 49. Printed books, newspapers, pictures and other 
products of the printing industry  0.5 0.5 0.5 0.5 0.5 0.5 
11 - Textiles and textile articles  1.2 1.4 1.4 1.5 6.5 6.5 
 62. Articles of apparel and clothing accessories, not 
knitted or crocheted  0.4 0.4 0.4 0.3 2.7 3.1 
 61. Articles of apparel and clothing accessories, 
knitted or crocheted  0.1 0.2 0.1 0.2 2.6 2.2 
 63. Other made up textile articles  0.4 0.4 0.6 0.7 0.9 0.9 WT/TPR/S/ 353 • Belize  
 
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  Description  2010  2011  2012  2013  2014  2015  
12 - Footwear, headgear, umbrellas; prepared feathers 
and articles; artificial flowers  0.4 0.4 0.4 0.4 2.2 2.1 
 64. Footwear, gaiters and the like; parts of such 
articles  0.4 0.4 0.4 0.4 2.0 1.9 
13 - Articles of stone, plaster, cement, etc.; ceramic 
products; glass and glassware  1.1 1.0 1.1 1.3 1.3 1.4 
 70. Glass and glassware  0.4 0.4 0.4 0.6 0.5 0.6 
14 - Natural or cultured pearls, precious or semi -
precious stones, precious metals  0.8 0.5 0.2 1.0 0.4 0.5 
15 - Base metals and articles of base metal  6.4 5.2 5.1 5.0 6.1 6.7 
 73. Articles of iron or steel  2.6 2.5 1.8 1.8 2.9 3.1 
 72. Iron and steel  2.2 1.5 2.0 1.9 1.9 2.1 
16 - Machinery and mechanical appliances; electrical 
equipment; te levision image and sound recorders  12.0 9.0 11.5 12.0 13.6 16.5 
 84. Nuclear reactors, boilers, machinery and 
mechanical appliances  6.9 5.5 6.8 7.8 9.1 10.6 
 85. Electrical machinery and equipment; sound 
recorders and reproducers  5.1 3.6 4.7 4.2 4.5 5.9 
17 - Vehicles, aircraft, vessels and associated transport 
equipment  4.6 5.8 5.6 6.5 7.9 9.1 
 87. Vehicles other than railway or tramway rolling -
stock, parts and accessories  3.7 4.1 5.1 6.0 6.9 7.9 
 89. Ships, boats and floating structures  0.5 1.0 0.4 0.3 0.4 0.8 
18 - Optical, photographic, precision, medical or 
surgical instruments; clocks and watche s; musical 
instruments  0.9 0.9 0.9 1.4 1.3 1.6 
 90. Optical, photographic, cinematographic, 
measuring, precision, medical or surgical 
instruments and appar atus 0.6 0.6 0.7 0.9 1.0 1.3 
19 - Arms an d ammunition  0.1 0.1 0.1 0.1 0.1 0.1 
20 - Miscellaneous manufactured articles  1.3 1.2 1.3 1.4 2.5 2.8 
 94. Furniture; bedding, mattresses, mattress 
supports, cushions and similar stuffed furnishings  0.8 0.7 0.8 0.9 1.1 1.2 
 95. Toys, games and sports requisites; parts and 
accessories thereof  0.3 0.3 0.3 0.3 0.8 0.9 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 0.0 0.0 0.0 
Others  23.5 28.4 24.5 22.6 0.3 0.2 
Source:  WTO Secretariat estimates bas ed on data provided by the authorities.  WT/TPR/S/ 353 • Belize  
 
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  Table A1. 3 Merchandise exports by trading partner, 2010 –15 
(US$ million and %)  
Description  2010  2011  2012  2013  2014  2015  
Total exports  305 379 403 416 365 329 
    Exports  270 328 339 334 307 268 
    Re-exports  35 52 63 81 58 61 
 (% of exports)  
Americas  69.4 77.1 63.9 57.0 61.3 61.4 
  United States  46.8 58.4 45.7 38.7 37.7 40.2 
  Other America  22.6 18.7 18.2 18.3 23.6 21.2 
      Mexico  2.9 1.9 1.4 3.4 7.7 4.6 
      Trinidad and Tob ago 2.5 2.6 4.0 4.8 3.8 4.1 
      Jamaica  2.4 2.7 3.5 4.7 4.1 3.6 
      Virgin Islands, British  0.0 0.0 0.0 0.0 0.1 2.6 
      Guatemala  8.2 6.8 5.7 1.3 2.6 1.9 
      Guyana  0.2 0.3 0.8 1.6 1.4 0.9 
      Honduras  0.0 0.1 0.1 0.1 0.1 0.9 
      Barbados  0.5 0.6 0.4 0.3 0.4 0.6 
      Canada  0.2 0.3 0.3 0.4 2.4 0.5 
      Panama  0.2 0.1 0.2 0.4 0.3 0.4 
      Suriname  0.0 0.1 0.1 0.4 0.2 0.3 
      Bahamas  0.0 0.0 0.0 0.0 0.0 0.2 
Europe  26.6 18.4 29.3 32.1 34.9 35.3 
  EU-28 26.3 18.2 29.0 32.0 34.3 35.0 
      United Kingdom  22.5 15.9 19.3 21.4 24.6 24.9 
      Ireland  0.0 0.0 2.3 3.5 3.9 4.4 
      Netherlands  3.4 1.8 6.4 5.6 4.6 3.6 
      Spain  0.1 0.1 0.7 1.0 0.7 1.1 
      Germany  0.1 0.2 0.3 0.2 0.3 0.9 
  EFTA 0.3 0.2 0.2 0.1 0.6 0.3 
      Switze rland 0.3 0.2 0.2 0.1 0.1 0.3 
  Other Europe  0.0 0.1 0.0 0.1 0.1 0.0 
Commonwealth of independent states (CIS)a 0.0 0.0 0.0 0.0 0.0 0.0 
Africa  0.0 0.0 0.0 0.0 0.0 0.1 
Middle East  0.3 0.2 0.0 0.2 0.0 0.2 
      Israel  0.0 0.0 0.0 0.0 0.0 0.1 
      United Arab Emirates  0.2 0.2 0.0 0.1 0.0 0.1 
Asia 3.3 3.4 6.5 10.6 3.5 2.9 
  China  0.4 0.8 1.4 3.5 1.6 1.1 
  Japan  2.7 2.0 3.1 0.9 0.5 0.4 
  Other Asia  0.2 0.6 1.9 6.2 1.5 1.4 
      India 0.0 0.0 1.3 5.4 0.4 0.3 
      Viet Nam  0.0 0.0 0.2 0.3 0.2 0.3 
      Chinese Taipei  0.0 0.1 0.1 0.2 0.2 0.3 
      Hong Kong, China  0.1 0.0 0.0 0.0 0.2 0.2 
      Thailand  0.0 0.0 0.1 0.2 0.1 0.1 
      Singapore  0.1 0.0 0.0 0.0 0.1 0.1 
Other  0.4 0.8 0.4 0.0 0.2 0.0 
a Commonwealth of Independent States (CIS) includes A rmenia, Azerbaijan, Belarus, 
 Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkmenistan, 
 Ukraine, and Uzbekistan.  
 
Source:  UNSD, Comtrade database.  WT/TPR/S/ 353 • Belize  
 
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  Table A1. 4 Merchandise imports by trading partner , 2010–15 
(US$ million and %)  
Description  2010  2011  2012  2013  2014  2015  
Total imports  702 799 861 931 1,003  1,030  
 (% of imports)  
Americas  79.3 73.8 75.3 75.9 76.2 75.2 
  United States  34.4 31.8 29.9 32.1 31.2 33.8 
  Other America  44.9 42.0 45.4 43.8 45.0 41.3 
     Mexico  9.9 9.1 10.7 11.4 10.8 10.6 
     Netherlands Antilles  13.7 13.1 13.7 12.5 12.4 8.8 
     Guatemala  7.8 6.8 6.8 6.7 7.9 7.4 
     Panama  5.1 4.9 4.0 2.8 3.3 3.9 
     Honduras  1.4 1.4 2.0 1.7 2.1 2.3 
     Trinidad and Tobago  0.9 0.9 1.9 1.6 1.6 1.5 
     El Salvador  1.4 1.1 1.2 1.2 1.0 1.1 
     Costa Rica  1.0 0.9 1.3 1.5 1.0 1.1 
     Canada  0.8 0.8 0.8 0.6 0.8 0.8 
     Jamaica  1.0 1.0 0.8 1.0 1.0 0.6 
     Brazil  0.5 0.4 0.5 0.7 0.6 0.6 
     Chile 0.2 0.2 0.2 0.3 0.3 0.3 
     Colombia  0.1 0.3 0.1 0.2 0.3 0.3 
     Argentina  0.1 0.1 0.1 0.2 0.3 0.3 
     Saint Vincent and the Grenadines  0.0 0.0 0.0 0.0 0.1 0.3 
Europe  5.0 5.2 4.5 5.0 4.9 7.0 
  EU-28 4.7 4.6 4.2 4.7 4.6 6.1 
     United Kingdom  1.5 1.5 1.0 1.1 1.3 2.3 
     German y 0.3 0.3 0.3 0.5 0.8 1.1 
     Netherlands  1.5 1.4 1.0 1.0 1.1 0.7 
     Spain  0.1 0.1 0.1 0.2 0.1 0.4 
     Austria  0.3 0.5 0.5 0.4 0.4 0.3 
  EFTA 0.2 0.5 0.3 0.2 0.1 0.2 
     Switzerland  0.2 0.5 0.3 0.2 0.1 0.2 
  Other Europe  0.0 0.1 0.1 0.1 0.1 0.7 
     Turkey  0.0 0.0 0.0 0.1 0.1 0.7 
Commonwealth of independent states (CIS)a 0.1 0.1 0.1 0.1 0.0 0.0 
Africa  0.1 0.1 0.1 0.1 0.3 0.2 
     South Africa  0.1 0.0 0.1 0.1 0.2 0.2 
Middle East  0.1 0.1 0.1 0.3 0.3 0.5 
     United Arab Emirates  0.0 0.1 0.1 0.2 0.1 0.3 
     Israel  0.0 0.0 0.0 0.0 0.1 0.2 
Asia 15.4 20.6 19.8 18.7 18.3 17.1 
  China  10.6 14.7 12.8 11.4 10.9 10.1 
  Japan  0.6 0.9 1.6 1.1 1.2 0.9 
  Other Asia  4.2 5.0 5.4 6.2 6.3 6.1 
     India 0.6 1.8 2.4 2.5 2.3 1.9 
     Hong Kong, China  1.4 0.6 0.5 0.6 0.8 1.4 
     Korea, Republic of  0.5 0.6 0.6 0.6 0.7 0.6 
     Viet Nam  0.1 0.3 0.4 0.6 0.6 0.5 
     Thailand  0.4 0.5 0.4 0.8 0.8 0.5 
Other  0.1 0.1 0.1 0.0 0.1 0.0 
a Commonwealth of Independent States (CIS) includes Armenia, Azerbaijan, Bel arus, 
 Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan,
 Turkmenistan, Ukraine, and Uzbekistan.  
Source:  UNSD, Comtrade database.  WT/TPR/S/ 353 • Belize  
 
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  Table A3. 1 Items and rates of RRDs  
Tariff 
heading No.  Description of goods  RRD rate  
02.10  Meat and edible offal, salted in brine, dried or smoked; edible flours 
and meals of meat or meat offal   
0210.11.00  Hams, shoulders and cuts thereof, with bone in  10% 
0210.12.10  Bacon  10% 
11.06  Flour, meal and powder of the dried legumin ous vegetables of 
heading 07.13, of sago or of roots or tubers of heading 07.14 or of 
the products of Chapter 8   
1106.30.90.1
0 Dehydrated coconut products  10% 
16.01  Sausages and similar products, of meat, meat offal or blood; food 
preparations based on t hese products   
1601.00.30  Salami sausage  10% 
1601.00.90.1
3 Pork sausage (including morcia and longaniza)  10% 
1601.00.90.1
4 Beef sausage  10% 
16.02  Other prepared or preserved meat, meat offal or blood   
1602.49.90.1
0 Seasoned ground pork and seasoned me ats 10% 
1602.50.90.1
0 Seasoned ground beef and seasoned meats  10% 
20.07  Jams, fruit jellies, marmalade, fruit or nut purée and fruit or nut 
pastes, obtained by cooking, whether or not containing added sugar 
or other sweetening matter   
2007.99.30  Guava j ams and jellies  10% 
2007.99.50  Nutmeg jams and jellies  10% 
2007.99.90  Other jams and jellies  10% 
20.08  Fruit, nuts and other edible parts of plants, otherwise prepared or 
preserved, whether or not containing added sugar or other 
sweetening matter or spi rit, not elsewhere specified or included   
2008.11.00  Peanut butter  50% 
20.09  Fruit juices (including grape must) and vegetable juices, 
unfermented and not containing added spirit, whether or not 
containing added sugar or other sweetening matter   
 Orange  juice:   
 Frozen:   
2009.11.10  Concentrated  40% 
2009.11.20  Other (frozen)  40% 
 Not frozen, of a Brix value not exceeding 20:   
2009.12.10  For infant use, in packages put up for retail sale  40% 
2009.12.20  Other, in packages put up for retail sale, not  concentrated  40% 
2009.12.30  Other, not concentrated  40% 
2009.12.90  Other, concentrated  40% 
 Other:   
2009.19.10  For infant use, in packages put up for retail sale  40% 
2009.19.20  Other, in packages put up for retail sale  40% 
2009.19.90  Not in packages  put up for retail sale  40% 
 Grapefruit (including pomelo) juice:   
 Of a Bix value not exceeding 20:   
2009.21.10  For infant use, in packages put up for retail sale  40% 
2009.21.20  Other, in packages put up for retail sale, not concentrated  40% 
2009.21. 30 Other, not concentrated  40% 
2009.21.90  Other, concentrated  40% 
 Other:   
2009.29.10  For infant use, in packages put up for retail sale  40% 
2009.29.20  Other, in packages put up for retail sale  40% 
2009.29.90  Not in packages put up for retail sale  40% 
 Juices of any other single citrus fruit:   
 Of a Brix value not exceeding 20:   
 Lime juice of a Brix value not exceeding 20:   WT/TPR/S/ 353 • Belize  
 
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  Tariff 
heading No.  Description of goods  RRD rate  
2009.31.11  For infant use, in packages put up for retail sale  40% 
2009.31.12  Other, in packages put up for retail sale, conc entrated  40% 
2009.31.13  Other, in packages put up for retail sale, not concentrated  40% 
2009.31.19  Not in packages put up for retail sale  40% 
 Other juice of any single citrus fruit   
 Of a brix value not exceeding 20:   
2009.31.91  For infant use, in pa ckages put up for retail sale  40% 
2009.31.92  Other, in packages put up for retail sale  40% 
2009.31.99  Not in packages put up for retail sale  40% 
 Other   
 Lime juice of a Brix value not exceeding 20:   
2009.39.11  For infant use, in packages put up for r etail sale  40% 
2009.39.12  Other, in packages put up for retail sale, concentrated  40% 
2009.39.13  Other, in packages put up for retail sale, not concentrated  40% 
2009.39.19  Not in packages put up for retail sale  40% 
 Other juice of any single citrus of a Brix value exceeding 20:   
2009.39.91  For infant use, in packages put up for retail sale  40% 
2009.39.92  Other, in packages put up for retail sale  40% 
2009.39.99  Not in packages put up for retail sale  40% 
 Pineapple juice:   
 Of a Brix value not exceed ing 20:   
2009.41.10  For infant use, in packages put up for retail sale  40% 
2009.41.30  Other, in packages put up for retail sale  40% 
2009.41.40  Not in packages put up for retail sale  40% 
 Other:   
2009.49.10  For infant use, in packages put up for retail  sale 40% 
2009.49.20  Other, in packages put up for retail sale  40% 
2009.49.40  Not in packages put up for retail sale  40% 
 Tomato juice:   
2009.50.10  For infant use, in packages put up for retail sale  40% 
2009.50.90  Other tomato juice (see Chapter Note 4) 40% 
 Grape juice (including Grape Must):   
 Of a Brix value not exceeding 30:   
2009.61.10  Concentrated, other than grape must  40% 
2009.61.20  Grape Must (see Additional CARICOM Note 3)  40% 
2009.61.30  Other, for infant use, in packages put up for reta il sale  40% 
2009.61.40  Other, in packages put up for retail sale  40% 
2009.61.90  Other, not in packages put up for retail sale  40% 
 Other:   
2009.69.10  For infant use, in packages put up for retail sale  40% 
2009.69.20  Grape Must (see Additional CARICOM  Note 3)  40% 
2009.69.30  Other, in packages put up for retail sale  40% 
2009.69.90  Other, not in packages put up for retail sale  40% 
 Apple juice:   
 Of a Brix value not exceeding 20:   
2009.71.10  Concentrated, not in packages for retail sale  40% 
2009.71 .20 Other, for infant use, in packages put up for retail sale  40% 
2009.71.30  Other, in packages put up for retail sale  40% 
2009.71.80  Other, not in packages for retail sale  40% 
 Other:   
2009.79.10  For infant use, in packages put up for retail sale  40% 
2009.79.20  Other, in packages put up for retail sale  40% 
2009.79.80  Not in packages put up for retail sale  40% 
 Juices of any other single fruit or vegetable:   
 Cranberry juice:   
2009.81.10  For infant use, in packages put up for retail sale  40% 
2009. 81.90  Other  40% WT/TPR/S/ 353 • Belize  
 
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  Tariff 
heading No.  Description of goods  RRD rate  
 Other:   
 Passion fruit juice:  40% 
2009.89.11  For infant use, in packages put up for retail sale  40% 
2009.89.12  Other, in packages put up for retail sale  40% 
2009.89.13  Other, concentrated, not in packages put up for retail sale  40% 
2009.89.19  Other  40% 
 Tamarind juice:   
2009.89.22  For infant use, in packages put up for retail sale  40% 
2009.89.23  Other, in packages put up for retail sale  40% 
2009.89.29  Not in packages put up for retail sale  40% 
2009.89.30  Other, for infant use, in packages put up for retail sale  40% 
2009.89.90  Other   
 Mixtures of juices:   
2009.90.10  Mixtures of grapefruit juice and orange juice, for infant use, in packages put 
up for retail sale  40% 
2009.90.20  Other mixtures of grapefruit juice and other jui ce 40% 
2009.90.30  Other mixtures of orange juice with other juice  40% 
2009.90.40  Mixtures of pineapple juice and other juice, for infant use, in packages put 
up for retail sale  40% 
2009.90.50  Other mixtures of pineapple juice with other juice  40% 
2009. 90.60  Other mixtures of juices, for infant use, in packages put up for retail sale  40% 
2009.90.90  Other mixtures of juice  40% 
21.05  Ice cream and other edible ice, whether or not containing cocoa   
2105.00.10  Ice cream  50% 
22.02  Waters, including minera l waters and aerated waters, containing 
added sugar or other sweetening matter or flavoured  and other non -
alcoholic beverages, not including fruit or vegetable juices of 
heading 20.09   
2202.10.10  Aerated waters  30% 
2202.10.90  Other waters  30% 
 Other:   
2202.90.10  Beverages containing cocoa  10% 
2202.90.20  Malt beverages  10% 
2202.90.90  Other  10% 
22.03  Beer made from malt   
2203.00.10  Beer  BZ$30.44/Imp
. Gal 
2203.00.20  Stout  BZ$30.44/Imp
. Gal 
22.06  Other fermented beverages (for example, cider, perry , mead); 
mixtures of fermented beverages and mixtures of fermented 
beverages and non -alcoholic beverages, not elsewhere specified or 
included   
2206.00.90  Other  BZ$20/Imp. 
Gal 
24.02  Cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco 
substitutes   
2402.20.00  Cigarettes containing tobacco  BZ$236 per 
1,000  
68.1 Articles of cement, of concrete or of artificial stone, whether or not 
reinforced   
6810.11.00.1
0 Building blocks  20% 
71.13  Articles of jewellery  and parts thereof, of precious me tal or of metal 
clad with precious metal   
7113.11.00  Of silver, whether or not plated or clad with other precious metal  10% 
7113.19.10  Of gold  10% 
7113.19.90  Other  10% 
7113.20.00  Of base metal clad with precious metal  10% 
71.14  Articles of goldsmiths'  and silversmiths' wares and parts thereof, of 
precious metal or of metal clad with precious metal. Of precious 
metal whether or not plated or clad with precious metal   WT/TPR/S/ 353 • Belize  
 
- 112 - 
 
  Tariff 
heading No.  Description of goods  RRD rate  
7114.11.00  Of silver, whether or not plated or clad with other precious metal  10% 
7114.19.00  Of other precious metal, whether or not plated or clad with other precious 
metal  10% 
7114.20.00  Of base metal clad with precious metal  10% 
71.16  Articles of natural or cultured pearls, precious or semi -precious 
stones (natural, synthetic or recon structed)   
7116.10.00  Of natural or cultured pearls  10% 
7116.20.00  Of precious or semi -precious stones (natural, synthetic or reconstructed)  10% 
71.17  Imitation jewellery  of base metal, whether or not plated with 
precious metal   
7117.11.00  Cuff-links a nd studs  10% 
7117.19.00  Other imitation jewellery  of base metal, whether or not plated with precious 
metal  10% 
7117.90.00  Other imitation jewellery  10% 
76.1 Aluminium  structures (excluding pre -fabricated buildings of heading 
9406.00) and parts of struct ures (for example, bridges and bridge -
sections, towers, lattice masts, roofs, roofing frameworks, doors and 
windows and their frames and thresholds for doors, balustrades, 
pillars and columns); aluminium  plates, rods, profiles, tubes and the 
like, prepared  for use in structures   
7610.10.00  Doors, windows and their frames and thresholds for doors (whether 
unassembled or disassembled)  15% 
7610.90.90  Other, hurricane storm shutters and mosquito screens of aluminium  5% 
Source:  Statutory Instrument No. 37 of 2016.  WT/TPR/S/ 353 • Belize  
 
- 113 - 
 
  Table A3. 2 Excise duties  
Tariff 
heading No.  Description of goods  RRD rate  
17.04  Sugar confectionery (including white chocolate), not 
containing cocoa   
1704.10.00  Chewing gum, whether or not sugar coated  15% 
1704.90.10  Guava cheese  10% 
1704.90.90  Other (sugar confectionery)  15% 
22.01  Waters, including natural or artificial mineral waters and 
aerated waters, not containing added sugar or other 
sweetening matter nor flavoured; ice and snow   
2201.10.10  Mineral waters  BZ$0.76/Imp. Gal  
2201.10.20  Aerated waters  BZ$0.76/Imp. Gal  
22.02  Waters, including mineral waters and aerated waters, 
containing added sugar or other sweetening matter or 
flavoured and other non -alcoholic beverages, not including 
fruit or vegetable juices of heading 20.09   
2202.10.10  Aerated waters  BZ$0.76/Imp. Gal  
22.03  Beer made from malt   
2203.00.10  Beer made from malt  BZ$6/Imp. Gal  
2203.00.20  Stout  BZ$6/Imp. Gal  
22.04  Wine or fresh grapes, including fortified wines; grape must 
other than that of h eading 20.09   
2204.10.00  Sparkling wine  BZ$20/Imp. Gal  
2204.21.00  In containers holding 2 litres or less  BZ$20/Imp. Gal  
2204.29.90  Other  BZ$20/Imp. Gal  
22.05  Vermouth and other wine of fresh grapes flavoured  with plants 
or aromatic substances   
2205.1 0.00 In containers holding 2 litres or less  BZ$20/Imp. Gal  
2205.90.00  Other  BZ$20/Imp. Gal  
22.08  Un-denatured ethyl alcohol of an alcoholic strength by volume 
of less than 80% vol.: spirits, liqueurs  and other spirituous 
beverages   
2208.20.10  Brandy, i n bottles with a strength not exceeding 46% vol.  BZ$90/Imp. Gal  
2208.20.90  Other  BZ$90/Imp. Gal  
2208.30.10  Whiskey, in bottles with a strength not exceeding 46% vol.  BZ$90/Imp. Gal  
2208.30.90  Other, whiskey  BZ$90/Imp. Gal  
2208.40.10  Rum & Tafia, in bo ttles with a strength not exceeding 46% vol.  BZ$90/Imp. Gal  
2208.40.90  Other  BZ$90/Imp. Gal  
2208.50.10  Gin, in bottles with a strength not exceeding 46% vol.  BZ$90/Imp. Gal  
2208.50.90  Other gin  BZ$90/Imp. Gal  
2208.60.00  Vodka  BZ$90/Imp. Gal  
2208.70.0 0 Liqueurs and cordials  BZ$90/Imp. Gal  
24.02  Cigars, cheroots, cigarillos and cigarettes, of tobacco or of 
tobacco substitutes   
2402.10.00  Cigars, cheroots and cigarillos, containing tobacco  BZ$65 per 1,000  
2402.20.00  Cigarettes containing tobacco  BZ$65  per 1,000  
2402.90.00  Other  BZ$3 per pack  
27.09  Petroleum oils and oils obtained from bituminous minerals, 
crude   
2709.00.90  Crude oil  BZ$2 BBL (of 35 
Imp. Gal)  
27.10  Light oils and preparations   
2710.12.13  Motor spirits (gasoline)  BZ$3.64/Imp. Gal  
2710.12.13.10  Gasoline 90 Octane or more (premium)  BZ$4.04/Imp. Gal  
2710.19.11  Kerosene type jet fuel  BZ$1.27/Imp. Gal  
2710.19.14  Diesel oil  BZ$3.26/Imp. Gal  
2710.19.15  Gas oil (other than diesel oil)  BZ$3.26/Imp. Gal  
33.03  Perfumes and toilet waters   
3303.00.90  Other  30% 
33.04  Beauty or make -up preparations and preparations for skin care 
(other than medicaments), including sunscreen or sun tan 
preparations; manicure or pedicure preparations   WT/TPR/S/ 353 • Belize  
 
- 114 - 
 
  Tariff 
heading No.  Description of goods  RRD rate  
3304.10.00  Lip make -up preparations  30% 
3304.20.00  Eye m ake-up preparations  30% 
3304.30.00  Manicure or pedicure preparations  30% 
3304.91.00  Powders, whether or not compressed  30% 
3304.99.10  Sunscreen or sun tan preparations  30% 
3304.99.90  Other  30% 
33.05  Preparations for use on the hair   
3305.20.00  Prepa rations for permanent waving or straightening  30% 
3305.30.00  Hair lacquers  30% 
3305.90.00  Other  30% 
33.06  Preparations for oral or dental hygiene, including denture 
fixative pastes and powders; yarn used to clean between teeth 
(dental floss), in indivi dual retail packages   
3306.10.90  Other  30% 
3306.20.00  Yarn used to clean between teeth (dental floss)  30% 
3306.90.00  Other  30% 
33.07  Pre-shave, shaving or after -shave preparations, personal 
deodorants, bath preparations, depilatories and other 
perfum ery, cosmetic or toilet preparations, not elsewhere 
specified or included; prepared room deodorizers, whether or 
not perfumed or having disinfectant properties   
3307.10.00  Pre-shave, shaving or after -shave preparations  30% 
3307.30.00  Perfumed bath salts and other bath preparations  30% 
3307.41.00  "Agarbatti" and other odoriferous preparations which operate by 
burning  30% 
3307.49.00  Other  30% 
3307.90.00  Other pre -shave shaving or after shave preparations  25% 
85.25  Transmission apparatus for radio -broad casting or television, 
whether or not incorporating reception apparatus or sound 
recording or reproducing apparatus; television cameras, digital 
cameras and video camera recorders   
8525.80.00  Television cameras, digital cameras and video camera recorders  5% 
85.28  Monitors and projectors, not incorporating television  reception 
apparatus; reception apparatus for television, whether or not 
incorporating radio -broadcast receivers or sound or video 
recording or reproducing apparatus   
 Projectors:   
8528.61.00  Of a kind solely or principally used in an automatic data processing 
system of heading 84.71  5% 
8528.69.00  Other  5% 
87.01  Tractors (other than tractors of heading 87.09)   
8701.20.00  Road tractors for semi -trailers  10% 
87.02  Motor vehicles for the tra nsport of ten or more persons, 
including the driver   
8702.10.10  Coaches, buses and mini -buses, of a seating capacity not exceeding 
21 persons (including the driver), completely knocked down for 
assembly in plants approved for the purpose by the competent 
authority  5% 
8702.10.20  Other coaches, buses and mini -buses, of a seating capacity not 
exceeding 21 persons (including the driver)  5% 
8702.10.30  Coaches, buses and mini -buses, of a seating capacity exceeding 21 
persons but not exceeding 29 persons (inclu ding the driver), 
completely knocked down for assembly in plants approved for the 
purpose by the competent authority  5% 
8702.10.40  Other coaches, buses and mini -buses, of a seating capacity exceeding 
21 persons but not exceeding 29 persons (including the driver)  5% 
8702.10.50  Coaches, buses and mini -buses, of a seating capacity exceeding 29 
persons (including the driver), completely knocked down for assembly 
in plants approved for the purpose by the competent authority  5% 
8702.10.60  Other coaches, buses and mini -buses, of a seating capacity exceeding 
29 persons (including the driver)  5% 
8702.10.90  Other  5% WT/TPR/S/ 353 • Belize  
 
- 115 - 
 
  Tariff 
heading No.  Description of goods  RRD rate  
8702.90.10  Coaches, buses and mini -buses, of a seating capacity not exceeding 
21 persons (including the driver), completely knocked down for 
assembly  in plants approved for the purpose by the competent 
authority  5% 
8702.90.20  Other coaches, buses and mini -buses, of a seating capacity not 
exceeding 21 persons (including the driver)  5% 
8702.90.30  Coaches, buses and mini -buses, of a seating capacity exc eeding 21 
persons but not exceeding 29 persons (including the driver), 
completely knocked down for assembly in plants approved for the 
purpose by the competent authority  5% 
8702.90.40  Other coaches, buses and mini -buses, of a seating capacity exceeding 
21 persons but not exceeding 29 persons (including the driver)  5% 
8702.90.50  Coaches, buses and mini -buses, of a seating capacity exceeding 29 
persons (including the driver), completely knocked down for assembly 
in plants approved for the purpose by the com petent authority  5% 
8702.90.60  Other coaches, buses and mini -buses, of a seating capacity exceeding 
29 persons (including the driver)  5% 
8702.90.90  Other  5% 
87.03  Motor cars and other motor vehicles principally designed for 
the transport of persons (ot her than those of heading 87.02), 
including station wagons and racing cars   
 Of a cylinder capacity exceeding 3,000 cc:   
8703.24.10  Completely knocked down for assembly in plants approved for the 
purpose by the competent authority  5% 
8703.24.90  Other  5% 
8703.33.90  Other  5% 
8703.90.00  Other  5% 
87.04  Motor vehicles for the transport of goods   
 Other, with compression -ignition internal combustion piston engine 
(diesel or semi -diesel): g.v.w. not exceeding 5 tonnes , with more than 
four cylinders and w ith an engine size greater than 3.0 litres  
8704.21.10  Completely knocked down for assembly in plants approved for the 
purpose by the competent authority  15% 
8704.21.90  Other  15% 
 g.v.w. exceeding 5 tonnes  but not exceeding 20 tonnes   
8704.22.10  Compl etely knocked down for assembly in plants approved for the 
purpose by the competent authority  10% 
8704.22.90  Other  10% 
 g.v.w. exceeding 20 tonnes   
8704.23.10  Completely knocked down for assembly in plants approved for the 
purpose by the competent auth ority 10% 
8704.23.90  Other  10% 
 Other, with spark -ignition internal combustion piston engine: g.v.w. 
not exceeding 5 tonnes   
8704.31.10  Completely knocked down for assembly in plants approved for the 
purpose by the competent authority  15% 
8704.31.90  Other  15% 
 g.v.w. exceeding 5 tonnes   
8704.32.10  Completely knocked down for assembly in plants approved for the 
purpose by the competent authority  10% 
8704.32.90  Other  10% 
8704.90.00  Other  5% 
90.06  Photographic (other than cinematographic) cameras;  
photographic flashlight apparatus and flashbulbs other than 
discharge lamps of heading 85.39   
9006.10.00  Cameras of a kind used for preparing printing plates or cylinders  5% 
9006.30.00  Cameras specially designed for underwater use, for aerial survey or 
for medical or surgical examinations of internal organs; comparison 
cameras for forensic or criminological purposes  5% 
9006.40.00  Instant print cameras  5% 
 Other cameras   
9006.51.00  With a through -the-lens viewfinder (single lens reflex (SLR)), for roll  
film or a width not exceeding 35  mm 5% 
9006.52.00  Other, for roll film or a width less than 35  mm 5% WT/TPR/S/ 353 • Belize  
 
- 116 - 
 
  Tariff 
heading No.  Description of goods  RRD rate  
9006.53.00  Other, for roll film or a width of 35  mm 5% 
9006.59.00  Other  5% 
90.07  Cinematographic cameras and projectors, whether or not 
incorporating sound recording or reproducing apparatus   
9007.10.00  Cameras  5% 
 Projectors:   
9007.20.10  For film of less than 16 mm width or for double 8 mm film  5% 
9007.20.90  Other  5% 
91.01  Wrist -watches, pocket -watches and other watches, including 
stop-watches, w ith case of precious metal or of metal clad with 
precious metal   
 Wrist-watches, electrically operated, whether or not incorporating a 
stop-watch facility:   
9101.11.00  With mechanical display only  5% 
9101.19.00  Other  5% 
 Other wrist -watches, whether or  not incorporating a stop -watch facility   
9101.21.00  With automatic winding  5% 
9101.29.00  Other  5% 
 Other   
9101.91.00  Electrically operated  5% 
9101.99.00  Other  5% 
91.02  Wrist -watches, pocket watches, and other watches, including 
stop-watches, other t han those of heading 91.01   
 Wrist-watches, electrically operated, whether or not incorporating a 
stop-watch facility:   
9102.11.00  With mechanical display only  5% 
9102.12.00  With opto -electronic display only  5% 
9102.19.00  Other  5% 
 Other wrist -watches , whether or not incorporating a stop -watch facility   
9102.21.00  With automatic winding  5% 
9102.29.00  Other  5% 
 Other   
9102.91.00  Electrically operated  5% 
9102.99.00  Other  5% 
91.13  Watch straps, watch bands and watch bracelets, and parts 
thereof   
9113.10.00  Of precious metal or of metal clad with precious metal  10% 
9302.00.00  Revolvers and pistols, other than those of heading 93.03 or 
93.04  20%  
93.03  Other firearms and similar devices which operate by the firing 
of an explosive charge (for example,  sporting shotguns and 
rifles, muzzle -loading firearms, Very pistols, and other devices 
designed to project only signal flares, pistols and revolvers for 
firing blank ammunition, captive bolt human killers, line -
throwing guns)   
9303.10.00  Muzzle -loading f irearms  20% 
9303.20.00  Other sporting, hunting or target -shooting shotguns, including 
combination shotgun -rifles 20% 
9303.30.00  Other sporting, hunting or target -shooting rifles  20% 
9303.90.00  Other  20% 
9304.00.00  Other arms (for example, spring, air o r gas guns and pistols, 
truncheons), excluding those of heading 93.07  20%  
93.05  Parts and accessories of articles of heading 93.01 to 93.04   
9305.10.00  Of revolvers or pistols  20% 
9305.20.00  Of shotguns or rifles  20% 
9305.99.00  Other  20% 
Source:  Custo ms and Excise Duties (Amendment) Act 2016.  
  
  WT/TPR/S/353 • Belize  
 
- 117 - Table A4. 1 Institutional composition of the financial sector in Belize  
 Number of Institutions  Asset size (BZ$ MN)  % of Total assets  % of 
GDP  
2015  
 
Dec. 2010  
Dec. 2011  
Dec. 2012  
Dec.  2013  
Dec. 2014  
Dec. 2015  
Dec. 2010  
Dec. 2011  
Dec. 2012  
Dec. 2013  
Dec. 2014  
Dec. 2015  
Dec. 2010  
Dec. 2011  
Dec. 2012  
Dec. 2013  
Dec. 2014  
Dec. 2015  
Dec. 2015  
Depository 
institutions  26 24 24 24 24 23 4,011  4,317  4,719  4,945  5,335  5,284  91.9 92.4 93.7 93.8 94.0 93.7 153.5  
Domestic banks  5 5 5 6 6 6 2,498  2,552  2,760  2,830  2,997  3,249  57.3 54.6 54.8 53.7 52.8 57.6 94.4 
International banks  8 7 7 6 6 5 980 1,178  1,308  1,398  1,573  1,204  22.5 25.2 26.0 26.5 27.7 21.3 35.0 
Credit unions  13 12 12 12 12 12 533 587 651 717 765 831 12.2 12.6 12.9 13.6 13.5 14.7 24.1 
Non-depository F Is 3 2 2 2 1 1 159 145 99 92 91 104 3.6 3.1 2.0 1.7 1.6 1.8 3.0 
Development financing  1 1 1 1 1 1 150 144 97 90 91 104 3.4 3.1 2.0 1.7 1.6 1.8 3.0 
Microlending  1 1 1 1 0 0 1 1 2 2 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
Unit trust  1 0 0 0 0 0 8 0 0 0 0 0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 
Domestic insurance 
companies  13 12 12 13 13 10 193 211 214 234 248 253 4.4 4.5 4.2 4.4 4.4 4.5 7.4 
Life 5 5 5 6 6 3 117 131 140 149 162 164 2.7 2.8 2.8 2.8 2.9 2.9 4.8 
Non-life 6 5 5 5 5 5 53 56 50 59 60 62 1.2 1.2 1.0 1.1 1.0 1.1 1.8 
Composite  2 2 2 2 2 2 23 24 24 26 26 27 0.5 0.5 0.4 0.5 0.5 0.5 0.8 
TOTAL  39 38 38 39 38 34 4,363  4,673  5,032  5,271  5,674  5,641  100.0  100.0  100.0  100.0  100.0  100.0  163.9  
 
Source:  Information provided by the Central Bank of Belize and the Office of the Supervisor of Insurance and Private Pension s. 
 
__________