Belize WT/TPR/S/238 
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IV. TRADE POLICIES BY SECTOR 
(1) INTRODUCTION  
1. Agriculture is critical to the Belizean economy, particularly because most manufacturing 
activity is centred on agricultural processing.  To a large extent, exports are based on preferential 
access to the EU under the CARIFORUM-EU Econom ic Partnership Agreement and to the United 
States under the Caribbean Basin Initiative, althoug h exports to Mexico are also increasing.  
Government policy has been to encourage diversifica tion, helped by Belize being free of several pests 
and diseases like foot and mouth disease, Mediterran ean fruit fly, and mad cow disease.  Several 
different policy instruments are used to maintain producer prices, including discretionary import 
licensing and government purchase programmes.  Howeve r, in some areas agriculture policies that 
raise prices may conflict with measures meant to reduce consumer prices, such as reducing the GST 
on some food items. 
2. Belize's manufacturing sector (excluding agri-p rocessing) is small and focused on supplying 
the local market.  The main domestic manufacturi ng industries produce furniture, timber, and paper 
products. Clothing production has dried up since the closure of a garment factory, in 2007, which 
exported to the United States.  Belize is a net importer of manufactured goods.  Its main exports 
include essential oils, paper and pape rboard, and items made of wood. 
3. Belize's economy is driven by the services sector:  in 2009 services accounted for 54% of 
GDP and 57% of employment.   Belize has taken only a few GATS commitments, on certain professional services and telecommunications.   
4. Banking and insurance in Belize are characteri zed by a significant foreign presence as well as 
a distinct separation between domestic and offshore activities.  Both are open to investment under 
largely non-discriminatory conditions.  In terms of the value of deposits, the banking sector is 
dominated by foreign-owned commercial banks.  The cost of borrowing from these banks is relatively 
high.  There are several credit unions, but their num ber has decreased significantly since 2004.  There 
have been no changes to laws governing domestic and offshore banks and insurance companies since 
2004, but amendments are envisaged.  New money laundering legislation has been introduced, and 
Belize has signed tax-information-exchange agreements with third countries.  
5. Belize's telecommunications sector was fully lib eralized in 2002.  One company, BTL, has a 
monopoly on the provision of fixed-line services, and the two providers of mobile services, BTL and Speednet.  In 2009, the majority of BTL's shares were taken over by the Government for reasons of 
public interest, and legal proceedings are ongoing with respect to BTL's ownership as well as over 
agreements reached between BTL and Speednet pr oviders.  Data produced by the International 
Telecommunications Union (ITU) suggests that the co st of telecommunications in Belize is relatively 
high, compared with its neighbours in Central America and the Caribbean. 
6. There have been no major legal or institutional changes in either air or maritime transport 
since Belize's previous Review.  There is substant ial private-sector participation in both:  Belize's 
airport is managed by a private company and thre e of Belize's ports, including its main port, are 
owned and managed by private companies.  Private companies are also active in the provision of cabotage transport between ports, mainly of passenge rs.  Only domestically registered airlines may 
undertake cabotage within Belize, but there are no restrictions on foreign investment in domestic 
airlines.   
7. Tourism is a main pillar of the Belizean ec onomy:  the IADB has estimated its overall 
contribution at around 26% of GDP, and a similar le vel for employment.  The United States accounts WT/TPR/S/238 Trade Policy Review 
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for most visitor arrivals and there are several direct air links with U.S. cities.  Tour operators must be 
either citizens or permanent residents, and only Be lizean citizens may be tour guides.  Government 
assistance to the sector is limited to granting fiscal concessions, but no information was available on concessions granted. 
(2) A
GRICULTURE  
8. Agriculture is a major part of Belize's ec onomy and the main source of inputs for the 
manufacturing sector.  Production patterns vary significan tly from one area to another.  In some areas 
slash-and-burn production is still used, in others larg e plantations are predominant, and in others 
immigrant communities have cleared large tracts of forest and produce a wide variety of products. 
9. Exports are concentrated in only a few products and markets, partly to benefit from 
preferences under the EU European Partnership Ag reement and the U.S. Caribbean Basin Initiative.  
The authorities are well aware that preferential mark et access can be eroded, and government policy is 
to diversify into other areas;  it has had some su ccess in exports of beef, fruits and vegetables, and 
several specialized products, like sau ces.  Belize is helped by be ing free from several pests and 
diseases that are present in other countries, such as foot and mouth disease, Mediterranean fruit fly, 
and bovine spongiform encephalopathy. 
10. Most support to agriculture is provided throug h tariff protection and import controls through 
discretionary import licences, along with the regulati on of production and trade by various official 
agencies.  These policies provide market price s upport, and the higher producer prices in Belize 
compared with neighbouring countries indicate a si gnificant transfer from consumers to agriculture 
producers.  In addition, state-run research a nd development programmes and extension services 
provide training and education for producers. 
(i) Features 
11. Agriculture is very important for the economy, employment, and foreign exchange earnings.  
Although it accounted for an apparently modest 9%  of GDP and 10% of employment in 2008, these 
figures do not take account of the agriculture pro cessing industry.  Exports of agriculture products 
(WTO definition) accounted for half of total exports and a significant contribution to foreign 
exchange earnings in 2008 (Chart IV.1).  Thus, although exports of other products have increased 
since 2005, agriculture continues to contribute more to exports than any other sector (Chapter I.(3)). 
12. Belize has about 8,000 km2 of land suitable for arable fa rming but only a small proportion of 
this is used.  The amount used for farming varies from one year to another because many are 
temporary forest clearings (milpas) which are farmed  for a few years then abandoned, when the soil is 
exhausted, and a new patch of forest is cleared for cultivation.  Larger farms of up to 100 ha are also 
worked, particularly in Blue Creek, Shipyard, and Spanish Lookout districts, where Mennonite communities established themselves from the 1950s.  In  addition, there are some large plantations 
producing bananas, sugar cane, and oranges.   
13. Agriculture is particularly exposed to the risk of hurricanes, which are an occasional threat to 
production and exports in Belize.  In recent years,  agriculture production was affected by Hurricane 
Iris (October 2001) and Hurricane Dean (2007).  The au thorities also noted that in recent years, 
flooding caused by adverse weather in neighbouring countries has become a concern as rain in Guatemala or Mexico leads to downstream flooding in Belize.   
 
 Belize WT/TPR/S/238 
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050100150200250300350
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart IV.1
Export of agriculture, and fisheries products, and other commodities, 2000-08
US$ million
Source: UNSD Comtrade database.Agriculture (WTO definition)
Fish and crustaceans, molluscs and 
other aquatic invertebrates
Other commodities
 
 
14. The production of agriculture goods has change d somewhat over the past few years as 
traditional products grown for export (bananas, sugar,  oranges) have been joined by other products, 
such as grapefruits and papayas as well as live cattle for export to Mexico.  In addition, chickens, 
maize, rice, and beans are produced, mostly for domestic consumption. Production of some 
agricultural products has remained static over the p ast few years:  sugar production has changed little 
since the 1980s, possibly because production is orie ntated towards exports under quotas in the United 
States and EU.  In contrast, banana production and yields have increased considerably to meet the 
challenge of falling preferences,  and production of fruits, particularly papayas,  has increased 
considerably since the early 2000s (Table IV.1). 
Table IV.1 
Production of selected agricultural products, 1996-2008 
('000 tonnes) 
 1996 1998 2000 2002 2004 2006 2008 
Bananas 59,763 53,451 69,072 43,064 79,419 73,000 68,053 
Beans, dry 4,157 3,969 5,225 3,738 3,997 4,220 3,680 
Grapefruit (inc. pomelos) 42,057 44,954 49,766 44,762 55,966 62,807 60,957 
Oranges 129,247 167,614 213,429 168,652 213,427 211,576 239,481 
Papayas 3,327 4,700 5,737 10,811 27,727 33,945 26,978 
Rice, paddy 12,756 9,452 9,868 10,972 10,680 11,855 11,780 
Sugar cane 1,251,780 1,178,270 1,106,610 1,150,656 1,191,000 1,173,470 980,114 
Cow milk, whole, fresh 1,136 1,130 1,397 3,544 3,618 3,014 2,920 
Chicken meat 7,581 7,192 8,522 14,000 13,948 13,553 12,595 
Cattle meat 1,331 1,479 1,135 1,848 2,658 1,684 1,715 
Pig meat 655 789 841 977 780 1,161 1,067 
Hen eggs, in shell ('000 units) 1,526 1,608 1,717 2,822 1,745 1,616 2,065 
Natural honey 89 44 78 47 38 49 29 
 
Source : FAOStat. WT/TPR/S/238 Trade Policy Review 
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15. Belize has a relatively large trade surplus for ag riculture products (WTO definition) with total 
imports of US$107.5 million and e xports of US$147.6 million in 2008.  Exports are concentrated in a 
few products, with frozen orange juice, sugar cane,  and bananas representing 78% of total agriculture 
exports (Chart IV.2).  Most exports go to the United Kingdom (39% by value), the United States 
(32%), and the Netherlands (6%).  Exports to th e United Kingdom are essentially bananas and sugar 
cane, and those to the United States are ma inly frozen orange juice and papayas. 
020406080100120140160180200
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart IV.2
Agriculture exports by product group, 2000-08
Other agriculture
Grapefruit juice
Papaws (papayas), freshBananas, including plantains, fresh or dried
Orange juice, frozen, not fermented or spirited
Raw sugar, cane
Source: UNSD, Comtrade database.US$ million
 
 
16. Imports, on the other hand, are much more broadly based:  over 40 tariff lines (HS 6 digit) 
represent three quarters of agriculture imports, with  durum wheat, whiskies, and food preparation, 
n.e.s being the most popular.  Most imports come from the United States (39% of agriculture imports), Mexico (15%), and the Netherlands (8%).
1  
17. Canada, the European Union, and the United St ates provide duty-free access to imports from 
Belize under CARIBCAN, the CARIFORUM-EU Econom ic Partnership Agreement (EPA), and the 
Caribbean Basin Initiative (CBI)2, respectively.  Under, the EPA, imports of all agricultural products 
into the EU from Belize became dut y-free, except for rice and sugar.  Since end 2009, imports of rice 
from the CARIFORUM to the EU have been duty- and quota-free.  Since October 2009, imports of 
sugar have been duty- and quota-free, but with a transitional safeguard mechanism that may be 
triggered if there is a "risk of seri ous damage to the EU sugar industry".3  Belize also receives a 
country-specific allocation from the U.S. sugar quo ta, which was 11,583 tons in the fiscal year 
                                                      
1 UN Comtrade (2010) online database.  Viewed at: http://comtrade.un.org/. 
2 USTR (2010). 
3 EU Commission (2008). Belize WT/TPR/S/238 
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starting 1 October 2009.4  In that year, Belize received additional allocations because other countries 
were unable to fill their quota allocations.5 
(ii) Public Policy 
18. The Ministry of Agriculture and Fisheries is  responsible for developing public policy for 
agriculture and fisheries and for regulating agri cultural activities.  The main objectives for the 
Ministry are to:  improve competitiveness in the agriculture, fishing, and cooperative sectors;  
accelerate diversification;  improve and conserve the production base;  improve access to resources and services for disadvantaged groups;  and stre ngthen institutional capacities to support the sector.
6 
19. In addition, several public and private bodies in  different product areas contribute to public 
policy formulation.  The legal basis for regulati on of agriculture is provided through several 
legislative Acts covering different agricultural products.  These include: 
- the Sugar Industry Act, 2001, the Sugar (Indus try Development Fund)(Use) Regulations of 
2003, and the Sugar Industry (Control) Regulati ons of 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 Committe e;  the Sugar Industry Research and 
Development Institute;  the Sugar Cane Quality  Control Authority;  the Belize Sugar Cane 
Farmers Association.    The Act also created  the Sugar (Industry Development) Fund and the 
Sugar (Labour Welfare) Fund.
7 
- the Banana Industry Act, 2000, which set up the Banana Control Board to regulate the banana 
industry; 
- the Meat and Livestock Act, 2000, which est ablished the Meat and Livestock Commission 
and the Livestock Producers Association and created the Livestock Producers Development 
Fund.  The Commission was set up to regulate ca ttle-breeding organizations, operate livestock 
auctions, and regulate slaughtering, movement , and export of cattle.  The Association was 
created with the objective of developing the livestock industry;  
- 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. 
20. Belize uses a broad range of policy instruments including:  discretionary import licences;  
high tariffs;  direct purchase of domestic produc tion;  research and development programmes;  
extension services;  breeding programmes;  dise ase control measures;  and product promotion 
agencies.  The Belize Marketing and Development Corporation (BMDC) also buys rice produced by 
                                                     
 
4 WTO document G/AG/N/USA/71. 
5 WTO document G/AG/N/USA/71/Add.1, Add.2 and Add.3. 
6 Ministry of Agriculture and Fisheries (2009). 
7 The authorities noted that, following a legal challe nge, production of an agricultural product cannot 
be limited to members of an association, as such a requirement would conflict with the constitutional right to 
freedom of association and economic freedom.  They also noted that several of the industry groups set up by legislation are no longer active. WT/TPR/S/238 Trade Policy Review 
Page 76 
 
 
small farmers in Toledo district, whic h is sold on to the domestic market at a loss.  In addition, export 
licences are required for exports of live animals, sugar, citrus fruits, and beans. 
21. The average import tariff on agriculture produc ts (WTO definition) is 21% for the 1,049 
agriculture tariff lines at the 8-digit level in the Sc hedule.  Tariff rates vary considerably, from duty-
free for 118 lines to 100% for 12 lines.  Also, 34  lines bear specific duties, mostly covering for 
tobacco and beverages as well as onions.  Import du ties are bound at a ceiling level of 100%, with a 
few exceptions, where rates range from 70% to 110% , and "other duties and charges" of 106% for 
beer and stout.  Belize has no tariff quota commitments and does not use tariff quotas. 
22. Domestic supply of a number of agriculture products is controlled th rough import and export 
licences.  Import licences are required for a wide vari ety of products including:  rice, beans, eggs, 
flour, fruits and vegetables, meat and meat prepar ations, sugar and molasses , beer and beverages, 
maize, milk, poultry and poultry meat, jams, jellies and pepper sauce, dry pasta products, animal feed, 
and peanuts.  According to a U.S. report "man y times licenses are approved for certain commodities, 
but the quantities permitted are so small as to not be economically feasible to import".8  BMDC is the 
sole importer of onions and rice, which are importe d when it deems there is a domestic shortage.  
23. In addition, an import permit is required from the Belize Agriculture Health Authority 
(BAHA) (Chapter III(2)(ix)) for several agricultu ral products before an import licence can be 
obtained.  For products regulated by the Ministry of Agriculture and Fisheries or by the Ministry for Economic Development, Commerce and Industry, and Consumer Protection, the BAHA requests that 
they review the application form be fore it conducts a risk assessment.   
24. In the absence of any notifications to th e WTO Committee on Agriculture on domestic 
support, the value of assistance provided to agricultu re is hard to estimate, because most support is 
provided through market price mechanisms rather than  budgetary transfers.  However, the Ministry of 
Agriculture and Fisheries stated in 2003 that the CARICOM common external tariff would not be 
high enough to compensate for the removal of impor t licences, which implies that controlling imports 
through these licences plays a role in increasing domestic prices.
9   
25. Producer prices for some controlled products in Belize tend to be lower than in some other 
CARICOM members but higher than in more compe titive Latin American produ cers (Table IV.2).  
However, the differences are narrowing and, in some  cases, producer prices in Belize are comparable 
to major exporters.  To some extent at least, higher prices in Belize reflect import controls and tariffs 
in Belize and, for some products, preferential access to export markets. 
Table IV.2 
Producer prices for selected commodities and countries, 2000-07 
(US$ per tonne) 
 2000 2001 2002 2003 2004 2005 2006 2007 
Bananas         
 Belize 565 579 419 360 338 324 334 343 
 Jamaica 505 469 457 408 371 345 422 719 
 Brazil 109 87 65 65 71 88 102 122 
 Ecuador 50 146 160 153 124 116 117 138 
 Mexico 170 193 137 111 127 162 159 236 
Beans, dry         
 Belize 1,038 985 992 882 863 867 892 932 
Table IV.2 (cont'd) 
                                                      
8 USDA Foreign Agriculture Service (2009). 
9 Ministry of Agriculture and Fisherie (2003). Belize WT/TPR/S/238 
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 2000 2001 2002 2003 2004 2005 2006 2007 
 Dominican Republic 928 1,024 1,002 726 677 1,024 1,104 1,237 
 Jamaica 1,609 1,478 1,439 1,276 1,424 1,841 2,111 2,488 
 Brazil 337 404 393 440 395 538 547 671 
 Ecuador 510 547 700 703 435 972 761 832 
 Mexico 552 669 593 471 508 634 578 1,118 
Oranges         
 Belize 62 54 72 73 76 81 83 90 
 Dominican Republic 115 93 98 171 42 135 97 104 
 Brazil 119 65 43 39 39 47 55 64 
 Ecuador 60 70 80 142 99 111 101 187 
 Mexico 84 65 73 82 70 60 86 98 
Papayas         
 Belize 574 571 584 584 588 600 618 657 
 Dominican Republic 112 98 71 47 97 135 205 266 
 Ecuador 41 82 98 102 66 53 84 93 
 Mexico 206 205 236 270 198 279 258 268 
Rice, paddy        
 Belize 239 238 243 243 244 249 256 273 
 Dominican Republic 542 523 481 297 656 728 709 845 
 Brazil 136 125 134 190 217 204 209 256 
 Ecuador 160 136 130 149 226 191 165 238 
 Mexico 155 159 170 154 161 175 175 190 
Sugar cane        
 Belize 21 21 19 21 21 22 22 24 
 Dominican Republic 13 23 35 11 11 17 15 16 
 Brazil 10 11 9 10 10 13 18 19 
 Ecuador 18 15 20 14 12 12 14 16 
 Mexico 27 31 31 29 29 33  34 35 
 
Source : FAOStat. 
(iii) Fisheries 
26. The fisheries sector has been a significant contributor to the Belizean economy but its 
contribution has declined sharply over the past few years (Table IV.3).  It generated approximately 
6.6% GDP in 2005 but this share fell to 1.6% in 2008.10  One reason for the severity of the decline 
was Hurricane Dean, which caused significant damage  to both capture fishing and aquaculture in 
2007.  In 2008, exports were valued at US$23.8 mill ion, up from 2007 but less than half the value of 
exports in 2004.11  The main fisheries exports are frozen shrimps and prawns (US$10 million in 
2008), followed by frozen lobsters (US$3.9 million) .  The United States is the main market for 
exports, taking 67% of the total exports in 2008.   The BAHA has certified four processing plants for 
exports to the United States and CA RICOM, two of which have also been certified for exports to the 
European Union.   
27. Import tariffs for fish and fish products (HS ch apter 3) vary from zero, for 27 lines of the 
150 lines, to 45% for 14 lines.  There are no speci fic duties in chapter 3, and no RRD.  Bound duties 
for fish and fish products are at 50%.  Export licen ces are required for fish, crustaceans, and molluscs. 
                                                      
10 Central Bank (2010). 
11 Exports for HS Chapter 3 from the Comtrade data base (2010).  Viewed a t:  http://comtrade.un.org/ 
db/default.aspx [May 2010]. WT/TPR/S/238 Trade Policy Review 
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28. Belize's fisheries industry can be classified in two sub sectors:  capture fishing, and 
aquaculture.  Capture fishing can be further divided into:  artisanal fishing, based on shallow coastal 
waters and comprising exploitation of fin fish, molluscs, and crustaceans;  and high seas fishing, where ships must be registered with the Internati onal Merchant Marine Registry of Belize.  The High 
Seas Fishing Act, 2003 and the Fisheries Act, 2000 provi de the legal basis for regulation of fishing in 
Belize.  The High Seas Fishing Act provides the dom estic legislative basis to comply with the FAO 
Agreement to Promote International Conservation and Management Measures by Fishing Vessels on 
the High Seas.
12  Most of the catch is sold to the fo ur co-operatives, which are owned by local 
investors, with the fishermen being the main shareholders. 
Table IV.3 
Fisheries production, 2004-08 
Products (kg) 2004 2005 2006 2007 2008 
Lobster tails 25,456 22,299 19,045 20,963  21,341 
Conch meat 28,236 28,716 31,402 26,070  27,853 
Marine shrimp 7,380 3,174 2,097 1,195  1,616 
Fish fillet 1,734 1, 590 1,960 2,703  1,609 
Whole fish 936 752 413 432  312 
Stone crab claws 326 397 141 107  100 
Lobster head meat 2,326 2,050 1,716 1,873  1,855 
 
Source : Ministry of Agriculture and Fisheries (various years), Annual Report .  Viewed at:  http:/ /www.agriculture.gov.bz/ 
Document_Center.html. 
29. Artisanal fishing is carried out by about 500  boats operating in the shallow waters of the 
barrier reef and the three atolls, which provide ha bitats for many commercially valuable stocks of 
lobster, conch, and a variety of fi sh.  The main focus of activity is the Spiny Lobster, although capture 
has been in decline for a few years, possibly due to  over-exploitation, this has raised concerns about 
the "open system" of licences for boats and fishing.13  Seasonal and catch-size restrictions are used for 
conservation of lobster.  Conch fishing is subject  to annual catch quotas based on surveys.  The most 
recent survey was carried out by th e Fisheries Department of the Mini stry of Agriculture and Fisheries 
in 2008.   
30. High seas fishing is based on shrimp trawling, fin fish, and shark.  A dramatic decline in 
output occured in 2003, as compliance with the Inte rnational Convention for the Conservation of the 
Atlantic Tuna (ICCAT) began (Table IV.4).  Since then, Belize has taken considerable strides towards 
conservation of fishing stocks.  In complying with the Convention it succeeded in having trade 
restrictions lifted on bluefin tuna, bigeye tuna, and swordfish, and establishing total allowable catch 
limits under the ICCAT for tuna and tuna-like fish species.14 
31. After rapid expansion in the early 2000s, the aquaculture industry has stabilized at seven 
shrimp farms with 1,129 ha of shrimp ponds, one ente rprise with 121 ha of tilapia, and one enterprise 
producing cobia. 
 
                                                      
12 FAO (1999). 
13 Ministry of Agriculture & Fisheries (2009), p. 42. 
14 ICCAT (2010). Belize WT/TPR/S/238 
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Table IV.4 
High seas fisheries production, 2000-08 
(Tonnes) 
Species 2000 2001 2002 2003 2004 2005 2006 2007 2008 
Abalones, winkles, conchs 1,745 1, 980 1,380 1,770 2,101 2,136 2,336 1,969 1,861 
Cods, hakes, haddocks 2,513 634 14 0 0 0 0 0 0 
Herrings, sardines, anchovies 7,880 3,851 12,066 0 0 0 0 0 0 
Miscellaneous pelagic fishes  8,908 4,772 9,078 0 0 0 0 0 0 
Sharks, rays, chimaeras 54 201 5,171 0 37 322 45 280 117 
Shrimps, prawns 1,242 121 81 104 147 52 33 19 26 
Squids, cuttlefishes, octopuses  10,153 1,712 124 2, 768 47 61 0 2,285 0 
Tunas, bonitos, billfishes 7,504 10, 871 24,501 1,373 1,204 1, 085 1,147 2,657 1,912 
 
Source : FAO online information.  Viewed at:  http://www.fao.org/ figis/servlet/TabLandAre a?tb_ds=Capture&tb_mode 
=TABLE&tb _act=SEL ECT&tb_grp=COUNTRY. 
(3) MANUFACTURING (PETROLEUM , MANUFACTURED GOODS , AND MINING AND 
QUARRYING ) 
32. Belize's manufacturing sector, which in national statistics includes petroleum, manufactured 
goods (including processed agricultural goods), and mining and quarrying, contributed 12% to GDP 
in 2009 (Chapter I).  Disaggregated figures on the value of domestic production of manufactured 
goods highlights the importance of agri-processing w ithin the sector, the decline in the textiles, 
clothing and footwear production, and the exponentia l growth of petroleum during the period under 
review (Table IV.5).  Crude oil production began in 2006, the oil is of high quality and exported to the 
United States and Costa Rica for processing (Chapter I, Box I.1).  No statistics are gathered on employment in the sector. 
Table IV.5 
Manufacturing production, 2004-08  
(BZ$ million current prices) 
 2004 2005 2006 2007 2008 
Food products and beverage s 128.1 134.8 146.8 154.3 154.7 
Textiles, clothing, and foot wear 14.3 13.3 14.1 7.2 0.1 
Other manufacturing (including pe troleum) 23.1 26.5 90.0 128.6 184.4 
 
Source:  Information provided by the authorities. 
33. Excluding agri-processing, Belize's manufacturing sector is small and overwhelmingly 
focused on supplying the local market.  The author ities state that the main domestic manufacturing 
industries produce furniture, timber, and paper produc t, but data on the value of domestic production 
of these products was not available. Protection to  domestic production may be  afforded by Belize's 
non-automatic import licensing system (Chapter III(2)(v), Table III.8).  For certain manufactured goods, i.e. textiles and apparel, w ood products, paper and printing pr oducts, chemicals and plastics, 
and non-metallic mineral products, domes tic processing is encouraged by  the structure of the tariff, 
which affords greatest protection to semi-processed products.  There are high import duties on certain 
manufactured goods.  Certain wood products attract a tariff rate of 50% (Chapter III(2)(iv)).   
34. Belize is a net importer of manufactured goods (SITC):  in 2008, the value of manufactured 
imports was just over US$398 million (some 47.6% of  total merchandise imports).  Belize's main 
imports were machinery and transport equipment,  which accounted for 21% of total merchandise 
imports in the same year (Table A1.2).  The au thorities note that duties on imports of manufactured 
goods contribute significantly to government revenue.  WT/TPR/S/238 Trade Policy Review 
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35. Belize's exports of manufactured goods (SITC) fluctuated over the period 2004-08, but 
dropped off significantly in 2008, largely due to a s ubstantial fall in clothing exports to the United 
States.  The last remaining garment factory clo sed in 2007.  In 2004, manufactured goods accounted 
for just over 13% of total exports  and re-exports (nearly US$28 million).  By 2008, their share was 
down to 1.4% (just over US$4 million).  In 2008, Be lize's main manufactured exports were essential 
oils, mainly to the United States (but also Canada  and Germany);  paper a nd paperboard, mainly to 
other Caribbean countries;  and items made of w ood (mainly doors and door frames), to the United 
States (Table A1.1). 
36. Although there is no specific government policy to promote manufacturing industries, various 
duty and tax concessions, offered under the comm ercial free zone and export processing zone 
programmes, as well as under the Fiscal Incentives Programme (Chapter III(3)(iv)) assist domestic 
companies to produce and export manufactured goods.  Beltraide offers  export promotion and 
marketing assistance. 
37. Belize is looking to take advantage of expor t opportunities for manufactured and other goods 
within the region.  Otherwise th ere are no specific plans to support and develop its manufacturing 
sector.  The authorities indicated that Belize's key constraints in developing a manufacturing sector 
include:  the cost of doing business compared with Central American countries (particularly the cost 
of labour);  the tax structure in Belize;  infrastructur al constraints; and high utilities and transportation 
costs.  In addition, it was observed that Belize' s import licensing regime may have the unintended 
consequence of undermining the agri-processing industries,  due to the cost and availability of inputs.  
(4) SERVICES  
(i) Main features 
38. Services accounted for 54% of Belize's GDP in 2009,  and this share remained constant during 
the review period.  The main subsectors specifically  identified in the national economic statistics are 
wholesale and retail trade, and transport and communica tions (Chapter I, Table I.2).  Some 57% of the 
workforce was employed in the tertiary sector in 2008, a decline compared with the two previous 
years (62.9% in 2007, and 63.5% in 2006 ).15 
39. Belize's specific commitments unde r the GATS are limited, covering only two of the twelve 
broad areas defined in the Services Sectoral Cla ssification List:  certain professional services and 
telecommunications (Table IV.6).  Horizontal co mmitments relate only to mode 4, where market 
access is unbound except for senior management personnel and technical experts not available in the 
local labour market, and there are no national tr eatment limitations on these categories of persons. 
                                                      
15 Statistical Institute of Belize online information.   Viewed at:  http://www.statisticsbelize.org.bz. Belize WT/TPR/S/238 
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Table IV.6 
Summary of Belize's specific commitments in individual service sectors for Modes 1, 2 and 3 
 Market Access National Treatment 
Mode of supply       
Cross border 1   1   
Consumption abroad  2   2  
Commercial presence   3   3 
Presence of natural persons       
Commitments ( ■ no limitations (none); ◨ partial limitations; □ no commitments (unbound); − not in the Schedule) 
1.   Business services       
A. Professional services       
    Medical and dental services ■ ■ ■ ■ ■ ■ 
    Neurosurgery ■ ■ ■ - - - 
    Epidemiological services ■ ■ ■ ■ ■ ■ 
    CATSCAN ■ ■ ■ ■ ■ ■ 
2.   Communications services       
C. Telecommunication servicesa       
    Voice telephone services ■ ■ ■ ■ ■ ◨ 
    Packet-switched data transmission services ■ ■ ■ ■ ■ ◨ 
    Circuit-switched data transmission services ■ ■ ■ ■ ■ ◨ 
    Telex services ■ ■ ■ ■ ■ ◨ 
    Telegraph services ■ ■ ■ ■ ■ ◨ 
    Facsimile services ■ ■ ■ ■ ■ ◨ 
    Private leased circuit services ■ ■ ■ ■ ■ ◨ 
    Electronic mail ■ ■ ■ ■ ■ ◨ 
    Voice mail ■ ■ ■ ■ ■ ◨ 
    On-line information and data base retrieval ◨ ■ ◨ ■ ■ □ 
    Trunked radio service ■ ■ ◨ ■ ■ □ 
    Paging ■ ■ ◨ ■ ■ □ 
    Tele-conferencing services ■ ■ ◨ ■ ■ □ 
    Enhanced/value added facsimile services ■ ■ ■ ■ ■ ◨ 
    Electronic data interchange ◨ ■ ◨ ■ ■ □ 
    Code and protocol conversion ◨ ■ ◨ ■ ■ □ 
    Internet and internet services ■ ■ ■ ■ ■ ◨ 
    Data processing ◨ ■ ◨ ■ ■ □ 
3.   Construction services - - - - - - 
4.   Distribution services - - - - - - 
5.   Education services - - - - - - 
6.   Services related to the environment - - - - - - 
7.   Financial services - - - - - - 
8.   Social and health services - - - - - - 
9.   Tourism and travel related services - - - - - - 
10.  Recreational, cultural and sports services - - - - - - 
11.  Transport services - - - - - - 
12. Other services  - - - - - - 
 
a All subsectors for market access modes one and three are subject to the availability of the desired frequency. 
 Note:  Mode 4 is scheduled as "unbound except as indicated unde r horizontal measures" with respect to both market access and na tional 
treatment. 
 
Source : WTO documents GATS/SC/10, 15 April 1994 and GATS/SC/10/Suppl.1, 11 April 1997;  WTO Services 
Database;  and WTO document MTN.GNS /W/120, 10 July 1991 (Services Sectoral Classification List). WT/TPR/S/238 Trade Policy Review 
Page 82 
 
 
(ii) Banking and insurance  
(a) Overview 
40. The banking and insurance sectors are characteriz ed by a significant foreign presence as well 
as a distinct separation between domestic and offshore (international) activities.  The domestic 
banking sector comprises 5 commercial banks, most  of which are foreign-owned, and 14 credit 
unions.  The value of total deposits in domestic  banks is BZ$1.98 billion (end March 2010);  Belize 
Bank has the largest share (around 37% of total de posits), followed by Scotiabank (Belize) Ltd. 
(around 26%).16  The total value of deposits in credit  unions is BZ$394 milli on, with around 68% 
invested in the Holy Redeemer Credit Union.  The domestic insurance industry includes 13 insurance 
companies and one association of underwriters (Table  IV.7).  With respect to the offshore sector, 
there are 8 international banks and 14  international insurance companies.  
Table IV.7 
Overview of the domestic banking and insurance sector, 2010  
Type of 
institution Governing legislation Institutions  (origin of controlling capital) 
Commercial banks 
(onshore)(5) Banks and Financial 
Institutions Act Cap 263 Heritage Bank Ltd (United States) ;  Scotiabank (Belize) Ltd. (Canada) ;  
Belize Bank Ltd. (UK) ;  First Caribbean International Bank (Barbados) Ltd 
(Canada) ;  Atlantic Bank Ltd. (Honduras)  
Credit Unions (14) Credit Unions Act Cap. 314 
(amended in 2005 and 2007) 
 Belize Credit Union League;  Blue Creek Credit Union;  Citrus Growers and 
Workers Credit Union;  Civil Service Cr edit Union;  Evangel Credit Union;  
Holy Redeemer Credit Union;  La Inma culada Credit Union;  Mount Carmel 
Credit Union;  Police Credit Union;  St. Francis Xavier Credit Union;  
St. John's Credit Union;  St. Martin's Credit Union;  Toledo Teacher's Credit 
Union;  Wesley Credit Union 
Building societies (0)  Building Societies Act 
Cap 310 None  
Insurance companies 
(onshore) (14)  New Insurance Act No. 11 
(2004) 
 American Life Insurance Co. (USA) ;  Atlantic Insurance Company 
(Honduras) ;  Casualty & General Insurance Co. (Jamaica) ;  Guardian Life 
Ltd. (Trinidad) ;  Guardian General Insurance Company (Trinidad) ;  Home 
Protector Insurance Co. (Belize) ;  Insurance Corporation of Belize (Belize) ;  
Island Heritage Insurance Co. (Cayman Islands) ;  RF&G Insurance Company 
(Belize) ;  RF&G Life Insurance Company (Belize) ;  Sagicor Capital Life 
Insurance Company (Barbados) ;  United Insurance Company (Barbados) ;  
CUNA Mutual Insurance Company (USA) ;  and Lloyds (UK) . 
 
Source:  Banks and Financial Institutions Act (http://www.belizelaw.org);  Credit Unions Act (as amended) 
(http://www.centralbank.org.bz/services2.asp?serv ice=Legislation);  and the New Insurance Act 
(http://www.mof.gov. bz). 
41. Government agencies active in the provision of financial services comprise the Development 
Finance Corporation;  until recently the Small Fa rmers and Business Bank (still in existence but not 
currently providing loans) (see Chapter III(4 )(iii));  and the Government Savings Bank.17  The latter is 
managed by the Accountant-General.  Deposits are put into the Treasury and invested on behalf of the 
Bank by the Financial Secretary:  no more than  one third of such money may be invested in 
government securities.  Deposits are guaranteed by the Government, and the rate of interest on 
savings is 6% per annum.  The total amount of  savings deposits in the Belize district is 
BZ$9.5 million (end-March 2010).  Figures are not av ailable for the other districts, however the 
authorities indicated that these were small relative to the Belize District.  The Government Savings 
Bank does not offer loans.  
                                                      
16 The respective share of total deposits in the five banks was:  Belize Bank Ltd. (BZ$735.81 million);  
Scotiabank Ltd. (520.81 million);  Atlantic Bank Ltd. (374.90 million);  First Caribbean International Bank 
(Barbados) Ltd. (209.37 million);  Heritage Bank Ltd. (137.54 million). 
17 Savings Bank Act, Cap. 266.  Viewed at:  http://www.belizelaw.org/lawadmin/PDF% 
20files/cap266.pdf. Belize WT/TPR/S/238 
 Page 83 
 
 
42. The National Development Foundation of Belize,  a non-for-profit credit institution financed 
by private-sector interests and USAID, was liquida ted in 2009.  It provided loans to persons wanting 
to start their own small business but who did not have access to commercial loans.  
43. In 2008, the Government adopted the Money Laundering and Terrorism (Prevention) Act, 
which applies,  inter alia,  to onshore and offshore banks and insurance companies.18  This law entered 
into force in January 2009.  It includes provisi ons for the investigation and prosecution of money 
laundering, terrorism, and other re lated crimes, as well as strengthening the powers of the respective 
supervisory authorities.  Information was not availa ble on the number of investigations undertaken or 
prosecutions since the enactment of the new law.  Belize is a member of the Caribbean Financial 
Action Task Force (CFATF).19 
(b) Banking 
Domestic banks 
44. Supervision of domestic banking  is undertaken by the Central Bank of Belize, which makes 
and enforces all regulations for the sector and is responsible for granting banking licences.  Certain 
Central Bank actions require the approval of the Mi nister of Finance.  These include:  granting and 
revoking licences;  fundamental changes in banks and acquisitions;  and changes in control of banks.  
In addition, the Minister of Finance must approve  all regulations made be  the Central Bank under the 
Banks and Financial Institutions Act.  The author ities indicated that no applications for banking 
licences have been turned down since 2004.  Th e Financial Intelligence Unit is empowered to 
investigate and prosecute financial crimes.  It al so processes requests for legal assistance from foreign 
countries regarding financial crimes.20 
45. The Central Bank Act requires banks to mainta in secondary reserves up to a maximum of 
35% of deposit liabilities.  In June 2010, the Ce ntral Bank set the secondary reserve requirement at 
23% of average deposit liabilities.  Under the Act the Central Bank may change the secondary reserve 
by 5 percentage points in any 30-day period, with 30 days notice. 
46. Banks are also required to maintain cash rese rves at the Central Bank.  This cash reserve 
forms part of the secondary reserve requirement a nd is unremunerated.  In May 2010, commercial 
banks' cash reserve requirements were reduced fro m 10% to 8.5% of average deposit liabilities.  
Under the Central Bank of Belize Act, the maximum cash reserve that can be required of commercial 
banks is 20%.  Any change in the reserve requirement s is limited to 2 percentage points in any 30-day 
period and requires a 30-day notice period before it can  be affected.  A new securities' requirement 
effective 1 May 2010 made it mandatory for banks to hold a minimum of 6. 5% of average deposit 
liabilities in Treasury notes.  As with  the cash reserves, this also fo rms a part of the secondary reserve 
requirement.  The Central Bank authorities stated that a shift to the use of market-based tools is being 
considered as a means to manage banks' liquidity  more efficiently and reduce reliance on the use of 
reserve requirements.  Such a shift would allow ea ch bank to manage its liquidity according to its 
posiition and in response to price signals.  
                                                      
18 The Money Laundering and Terrorism (Preventio n) Act.  Viewed at:  http://centralbank.org. 
bz/services2.asp?service=Legislation. 
19 The CFATF is an organization of 30 Caribbean st ates that have agreed to implement common 
countermeasures to address the problem of crimin al money laundering (http://www.cfatf-gafic.org/). 
20 Financial Intelligence Unit Act.  Viewed at:  http://www.belizelaw.org/lawadmin/ 
PDF%20files/cap138-02.pdf. WT/TPR/S/238 Trade Policy Review 
Page 84 
 
 
47. The Central Bank has the right, under the Centra l Bank of Belize Act, to control credit and 
interest rates but, in practice, has not used these monetary policy tools, apart from setting a minimum 
rate of 4.5% on savings deposits.21 
48. According to the IMF, the Central Bank has rati oned sales of foreign exchange to commercial 
banks on an ad-hoc basis since 1995, except for some essential import items.22 
49. The Banks and Financial Institutions Act, which governs the banking sector, the review 
period.  The authorities indicated that amendments  to the Act are being considered for prudential 
reasons.  The law distinguishes between foreign banks (incorporated under the laws of a country other 
than Belize and conducting business in Belize thr ough a branch) and local banks (incorporated in 
Belize under the Companies Act, including subsid iaries of foreign-owned banks).  With one 
exception, all domestic banks are subsidiaries.23  Representative offices are not allowed.  Foreign 
banks must designate a principal office in Belize as  well as an official approved by the Central Bank 
to be the licensee's authorized ag ent in Belize.  Minimum start-up capital requirements are the same 
for local and foreign banks (US$1.5 million).  Howe ver, foreign banks must also have world-wide 
fully paid-up and unimpaired capital of no less th an US$25 million.  In all other respects, the 
requirements of local and foreign banks are substan tially the same. Selected features of the Banks and 
Financial Institutions Act, which were reporte d in Belize's previous TPR are contained in 
Table AIV.1.  
50. Despite the Belezian dollar being tied at a ratio of 2.1 to the U.S. dollar, interest rates in 
Belize are much higher than in the United States.  While the weighted average spread between bank 
deposits and loans has tended to narrow since 2002, it remains very significant.  In 2009, the weighted 
average lending rate by commercial banks was 14% and the weighted average deposit rate was 6.1%, 
giving a spread of 7.9%.  (Chart IV.3).  Persiste ntly high levels of excess liquidity continued into 
2009 with the commercial banks holding cash and liquid assets well above the minimum reserve levels set by the Central Bank, at 12.1% a nd 28.4% of deposit liabilities, respectively. 
 
                                                     
 
21 Central Bank of Belize online information "Monetary Policy".  Viewed at:  
http://www.centralbank.org.bz/ services1.as p?service=Monetary+Policy [June 2010]. 
22 IMF (2009). 
23 The First Caribbean International Bank (Barbados) Ltd. is registered as an overseas company. Belize WT/TPR/S/238 
 Page 85 
 
 
Chart IV.3
Weighted average interest rates in Belize, 2002-09
024681012141618
2002 2003 2004 2005 2006 2007 2008 2009
Source :  Central Bank of Belize, Annual Report 2009 , Major economic indicators.(Per cent)
Lending rate Deposit rate
 
Credit unions 
51. Since Belize's previous review, there has been a sharp decline in the number of active credit 
unions, from 40 in 2004 to 14 in 2010.  The authorities indicated that there has been waning interest in 
these institutions on the part of their members:  in a number of instances credit unions were formed to 
serve socio-economic needs, for example to cater fo r the labourers of a particular industry.  In 
addition, a number of institutions have been w ound-up due to poor manage ment and downturns in 
industry.  The main services offered are savings a ccounts, and consumer, educ ation, and residential 
loans.24  The Credit Unions Act was amended in 2005 and 2007.  These changes brought Credit 
Unions under the Central Bank's supervision25, upgraded the supervisory standards, of credit unions in 
order to comply with international best sta ndards, and, set administrative penalties for non-
compliance with the Act's requirements.26   
Offshore banks 
52. The International Banking Act Cap. 267 governs the offshore banking sector.  The authorities 
indicated that amendments for prudential reasons  are being considered.  The law distinguishes 
between local and foreign banks depending on whethe r they are incorporated in Belize or abroad.  
Minimum capital requirements depend on the type of licence granted, and are higher for foreign than 
for local banks.  Business operations may only be conducted with non-residents, except for companies 
operating in export processing zones and commercial fr ee zones.  All offshore banks are incorporated 
locally under the Companies Act Cap. 250, with the ex ception of one, which is incorporated under the 
International Business Companies Act Cap. 270.  Revenue accruing to the Government in the first 
                                                      
24 Central Bank of Belize online information.  View ed at:  http://www.centralbank.org.bz/services2. 
asp?service=Banks+ and+Financial+Institutions. 
25 Credit Unions were previously supervised by th e Department of Cooperatives and Credit Unions 
within the Ministry of Finance. 
26 Central Bank of Belize online information.  View ed at:  http://www.centralbank.org.bz/services2. 
asp?service= Legislation. WT/TPR/S/238 Trade Policy Review 
Page 86 
 
 
half of 2010 from fees levied on  offshore banks was US$155,000 (plus US$10,000 in penalty fees).  
Two international banks voluntarily wound-up operations following the sale of their parent 
companies.  The International Banking Act provi des for tax incentives and the non-application of 
exchange controls (Table AIV.1). 
53. Offshore banks are regulated and supervised by the Central Bank of Belize.  Belize was one 
of 35 jurisdictions classified as a tax haven by the OECD in 2000.  It has since committed to improve 
the transparency of its tax and regulatory systems and to exchange information with OECD countries 
on tax matters.27  Belize has tax information exchange agreements (TIEAs) in force with Belgium, the 
United Kingdom, Australia, and the Netherlands.  Ag reements are at various stages of preparation 
with Ireland, Italy, Aruba, Mexico, Canada, Ukraine,  Finland, Iceland, Greenland, the Faeroe Islands, 
Denmark, Norway, and Sweden. 
(c) Insurance (domestic and offshore)  
54. There have been no changes to the legislation (the New Insurance Act (2004)) or supervisory 
structures governing domestic insurance during the period under review.  The authorities indicated 
that consultations are being undertaken on a revised In surance Act, and new legislation is expected to 
be in force in 2011.  Domestic in surance businesses are regulated by th e Office of the Supervisor of 
Insurance (OSI), under the responsibility of the Mini stry of Finance.  There are 14 active domestic 
insurance companies:  7 offer general insurance;  5 offer long-term insuranc e and 2 are composites.  
Belizean nationals are not prohib ited from acquiring life and health insurance contracts outside of 
Belize, but the OSI does not take any responsibility for matters concerning the contract.  There is no 
obligation for a company to incorporate in Belize  to offer services therein, but all insurance 
companies and insurance intermediaries operating in Belize must be registered with the OSI.  Every 
insurance company wishing to provide insurance services must appoint a principal representative who 
is resident in Belize and can accept service of process on behalf of the insurer.  Minimum capital and minimum deposit requirements vary depending on wh ether insurance companies are incorporated 
locally or abroad.  In addition, companies that are not locally incorporated must have been in business 
for three years prior to registering in Belize (See Table AIV.1).  All insurance companies must show 
proof of adequate reinsurance arrange ments prior to obtaining a licence.  
55. The Supervisor of International Insurance, pa rt of the International Financial Services 
Commission (IFSC), has responsibility for the offshore  insurance industry, which is governed by the 
International Insurance Act, Cap 269.  The 14 offshor e insurance companies licensed to operate out of 
Belize are registered for widely varying categories of services.
28  Only foreigners may own 
international insurance companies.  International insurance companies are not allowed to do business 
in commercial free zones or export processing zones unless they obtain permission from the IFSC.  They are not subject to exchange rate controls or income tax.  
(iii) Telecommunications  
(a) Features 
56. Two entities in Belize are licensed to provide full telecommunications services:  Belize 
Telemedia (formerly Belize Telecommunications Ltd.),  and Speednet.  Two companies are licensed to 
                                                     
 
27 OECD online information.  Viewed at:  http://www.oecd.org/document/42/0,3343,en_ 
21571361_44315115_ 2076650_1_1_1_1,00.html. 
28 For a list of international insurance companies and the categories of insurance that they cover, see 
IFSC online information.  Viewed at:  http://www.ifsc.gov.bz/licensed_provider.html#c. Belize WT/TPR/S/238 
 Page 87 
 
 
offer carrier services29;  one company has a domestic private network licence,  and there are 
36 licensed internet services providers, although a number of these are inactive (Table IV.8).  Licences in all cases have been granted for 15 ye ars from their entry into force.  The authorities 
indicated that there is a lack of clarity in the curre nt approach to licensing:  they intend to review 
licensing regulations and to make am endments to existing licences, to set out more clearly the specific 
services these licencees are authorized to provide.  
Table IV.8 
Licensed telecommunications operators, July 2010  
Type of license Company (entry into force of licence) 
Individual licencea 2 licensees in operation:  Belize Telecommunicati ons Limited;  Speednet Communications Limited. 
Class licenceb  
    - Carrier services 2 licensees in operation:   Broadband Belize Limited;  Clear Contact Ltd. 
    - Domestic private network 1 licensee in operation:  Belize Electricity Ltd. 
    - Internet services 22 licens ees in operation and 14 inactive licences 
 
a Individual licences are for full telecommunication serv ices (i.e. telephony, mobile and wireless services). 
b Class licences are for general services wh ich do not justify an individual licence. 
 
Source: Information provided by the Pu blic Utilities Commission (http://www.puc.bz ).   
57. Belize Telemedia Limited (BTL) was the monopoly provider of telecommunications services 
until 2002, when the sector was opened up to competiti on.  It remains the only provider of fixed-line 
services and provides mobile services as well as fixed-line and wireless internet access.  The majority of shares in BTL were acquired by the Governme nt in August 2009, for public interest reasons 
relating to:  "the stabilisation and improvement of the telecommunications industry and the provision 
of reliable telecommunications services to the pub lic at affordable prices in a harmonious and non-
contentious environment".
30  Prior to nationalization, the main shareholders in BTL were foreign and 
domestically owned companies.  An interim Board of Directors has been put in place to run the 
company, pending its re-privatisation.31  Speednet's licence was grante d in 2003, and it was launched 
commercially in 2005.  It offers mobile services as  well as wireless internet access.  Ongoing legal 
proceedings, regarding ownership of BTL as well  as agreements between BTL and Speednet, are 
holding up privatization efforts.   
58. The number of mobile subscriptions increased by  nearly 17% 2004-09.  However, growth has 
been less than in other countries in  the region.  Fixed-line usage has gradually declined, while Internet 
subscriptions have gradually increased, with a greater  share of subscriptions being broadband;  the 
number of internet users nearly double d over the review period (Table IV.9). 
                                                      
29 Carrier services are not defined as such.  They are mentioned in the schedule of fees set out in 
Statutory Instrument No. 110 of 2001, as cable links (s ubmarine, cross-border, etc.).   In addition in Article 
(3)(1) of the same SI, a "carrier" is defined as a company that offers its network infrastructure for hire to provide 
communication services to the public (http://www.puc.bz/ publications/si-110.pdf).  The authorities indicated 
that carrier services are also described in a "General Authorisation for the Provision of Carrier Services" (not 
seen by the Secretariat an d unavailable online).   
30 Telemedia was nationalized under the Belize Telecommunications (Assumption of Control Over 
Belize Telemedia Limited) Order, Statutory Instrument No. 104 of 2009. 
31 BTL online informatino.  Viewed at:  http://www.belizetelemedia.net/btlnews/Opening-Statement-
by-the-Chairman-of-Belize-Telemedia-to-Press-Conference.PDF. WT/TPR/S/238 Trade Policy Review 
Page 88 
 
 
Table IV.9 
Selected telecommunica tion indicators, 2004-09 
 2004 2005 2006 2007 2008 2009 
Fixed lines (per 100 inhabitants) 12.21 11.96 11.90 11.51 10.35 10.16 
Mobile cellular subscriptions (per 100 
inhabitants) 27.16 30.11 34.67 40.17 53.23 52.74 
Internet subscriptions (per 100 inha bitants) 2.21 2.33 2.43 2.51 2.60 2.65 
Internet users (per 100 inhabitants) 5.79 9.21 10.40 10.86 11.31 11.73 
Broadband subscriptions (per 100 inhabitants) 1.02 1.78 1.94 2.22 2.56 2.61 
Ratio of mobile to fixed 2.2: 1 2.5:1 2.9:1 3.5:1 5.1:1 5.2:1 
 
Source:  ITU (http://www.itu.int/I TU-D/ICTEYE/I ndicators/Indica tors.aspx#). 
59. The ITU has ranked Belize in 112th place out of 161 countries for the overall affordability of 
its information communication technology (ICT) services (fixed and cellular telephone as well as 
broadband internet services) in 2009.32  In these rankings, the cost of ICT services in Belize is higher 
than almost all of its ne ighbours and CARICOM partners.33  However, the cost of broadband internet 
services fell significantly in 2008-09.   
(b) Regulations 
60. Belize is a signatory to the WTO Agreement on Basic Telecommunications Services, and 
accepted the reference paper on GATS commitments.  Belize's schedule of Specific Commitments 
under the GATS reserves existing exclusivity of service provision in a number of sectors, e.g. voice telephone, faxes, and electronic mail.  However,  in the commitments on online information and 
database retrieval, code and prot ocol conversion, paging, online in formation, and data processing, 
BTL's exclusivity was committed to the end of 2007 ;  and movement of na tural persons is unbound 
(except for senior management and technician s not provided by the local labour market). 
61. The Belize Telecommunications Act (No. 16 of  2002, or Cap. 229, 2003), the main law 
governing the telecommunications sector, does not impos e any restrictions on foreign investment in 
the sector.   
62. The Public Utilities Commission (PUC) is respons ible for regulating the telecommunication 
sector.  Its responsibilities are set out in the Teleco mmunications Act, and include issuing licences and 
determining the conditions that should be attached to licences;  developing regulations for the sector;  
regulating rates and tariffs for telecom services in ca ses where there is a sole or dominant provider or 
where anti-competitive practices are detected;  i nvestigating consumer co mplaints;  managing the 
universal access fund;  and acting as final arbiter in  disputes between industry agents.  Since Belize's 
previous TPR review the PUC has been involved in one dispute between industry agents, relating to 
infrastructure sharing and other agreements betw een BTL and Speednet and the matter is still under 
                                                     
 
32 A comparative analysis of the cost of ICTs among 161 countries is available in an ITU report 
Measuring the Inform ation Society, 2010 .  One of the objectives of this study is to track and benchmark the 
affordability of ICT services globally.  It is based on  tariffs for the sub-baskets of fixed telephone, mobile 
cellular and fixed broadband internet services with prices being shown in absolute values and as a percentage of income (GNI per capita).  The overall ranking is calculated by taking the simple averag e of the price of each of 
the sub-baskets (in US$) which is th en calculated as a percentage of th e country's monthly GNI per capita.  
(http://www.itu.int/ITU-D/ict/publications/idi/2010/M aterial/MIS_2010_without%20annex%204-e.pdf). 
33 Costa Rica (23);  Trinidad and Tobago (30);  Mexico  (48);  St. Kitts and Nevis (54);  Panama (57);  
Antigua and Barbuda (60);  Barbados (67);  Jamaica (71) ;  Grenada (79);  St. Lucia (82);  St. Vincent and the 
Grenadines (86);  Dominican Republic (90);  El Salvad or (93);  Dominica (101);  Suriname (106);  Guatemala 
(107);  Belize (112);  Guyana (117);  and Nicaragua (119). Belize WT/TPR/S/238 
 Page 89 
 
 
litigation (see above).  The authorities reported that no licence applications have been rejected and 
that universal service obligations and universal  access fund policies are being developed.  
63. With respect to rate setting, the PUC issued  a decision on domestic tariffs for the fixed 
network for the period June 2004 to  May 2005 and placed a ceiling on rates for international calls.  
There have been no further tariff decisions since.  The PUC did not set tariffs for mobile cellular or 
internet services.34  
64. The Telecommunications Act stipulates that interconnection between providers should be 
provided within a reasonable timeframe, on non-discr iminatory and transparent terms and at cost-
orientated charges.  Services providers may reach agreement between themselves regarding 
interconnection of their facilities and other areas of cooperation.  These agreements must be submitted 
to the PUC for its approval.  Where no such agre ement can be reached, both parties may request the 
PUC to establish binding tariffs and set terms.35  The authorities indicated that the PUC has not been 
involved in determining interconn ection terms between BTL and Spee dnet.  In 2010, the PUC issued 
a Belize Telecommunications Interconnection a nd Infrastructure Sharing Regulations Order 
containing provisions to govern interconnection ag reements, the sharing of infrastructure, and 
associated rates, fees and charges.36 
65. The Income and Business Tax Act, Cap. 55 2000, imposes a business tax on receipts at rates 
that vary according to the nature of the business (Chapter II).  For telecommunication services the tax is levied at 24.5%.  Under the Telecommunications Act, annual licence fees are payable to the PUC as 
from the second year, these are set at 1.5% of  gross revenues from the previous year.  
(iv) Air transport  
66. There have been no changes to the main laws  and the institutional framework governing air 
transport in Belize, since its last review.  The Minister of Tourism, Civil Aviation and Culture has responsibility for the sector.  Air transportation is  regulated through:  the Department of Civil 
Aviation, which oversees aviation safety for all air ports, and the Belize Airports;  Authority (BAA), 
which manages airport operations at the Belize Muni cipal Airport, the San Pedro Airport as well as 
various airstrips (see below).  The only internatio nal airport, the Philip SA Goldson International 
Airport (PGIA), is managed and operated by a private company (see below).  The main law governing the sector is the Civil Aviation Act, Cap. 239.  Beli ze is a contracting State of the International Civil 
Aviation Organization (ICAO), and a member of th e Corporación Centroamericana de Servicios de 
Navegación Aérea (COCESNA). 
(a) Air services agreements 
67. Belize has bilateral air services agreements (A SAs) with Austria, the United Kingdom, and 
the United States.  It is a signatory to two re gional agreements:  the CARICOM Multilateral Air 
Services Agreement (CARICOM-MASA), and the Air Transport Agreement among the member 
states and associate members of the Association of Caribbean States (ACS) (the latter is not yet in 
force).
37  However, in practice, the only agreement, that governs passenger transport is the ASA with 
the United States, which is a Bermuda II-type agreement.  Belize has direct air links with a number of 
                                                      
34 PUC Tariff Decision for the Telecommunica tion Sector, May 7 2004.  Viewed at:  
http://www.puc.bz/ publications/Telecomm unications%20Tariff%20Decision%202004.pdf. 
35 Belize Telecommunications Act (Article 22). 
36 PUC online information.  Viewed at:  http://www.puc.bz/publications.asp. 
37 For a summary of the provisions of the CARICOM-MASA see WTO document WT/TPR/S/218, 
10 August 2009, Chapter IV(5)(iv). WT/TPR/S/238 Trade Policy Review 
Page 90 
 
 
U.S. cities (Charlotte, Dallas, Miami, Houston, Newa rk, and Atlanta).  There are also direct scheduled 
air passenger flights with El Salvador (San Salv ador), Honduras (San Pedro Sula), Mexico (Cancún), 
and Guatemala (Flores and Guatemala City).  Accord ing to the authorities, these services do not take 
place under any formal ASAs but through licences issued by the Belize Department of Civil Aviation 
(alongside equivalent licences issued by the respectiv e civil aviation authorities in the third countries).  
The authorities noted that, while there are no legal restrictions on the provision of cabotage services by foreign companies, this practice is restri cted to domestically owned companies through the 
licensing process. 
68. Since 2008, the Belize Tourism Board has been wo rking with a Canadian company to develop 
an Airline Development Strategy for Belize.  Wo rk involves identifying air service deficiencies, 
making recommendations for priority routes and formalizing the business case for presentation to potential new airline partners.
38  Information was not available as to whether there have yet been any 
concrete recommendations from this exercise. 
(b) Airports and domestic airlines 
69. The Philip SW Goldson International Airport is  Belize's only international airport.  The 
airport is owned by the Government of Belize.  In  2009, total passenger traffic through PGIA was just 
over 460,000.39  No figures were available on domestic passenger traffic.  The management and 
operation of the airport was handed over to the Belize Airport Concession Company in April 2004, 
under a 49-year concession agreement with the Government.  The Belize Airport Concession Company (BACC) is a consortium of Belizean investor s.  The main infrastructural development to the 
airport during the review period, was the extension of the runway in 2009 in order to accommodate 
long-haul flights.  There have also been invest ments in radar and landing systems.  The authorities 
indicated that this work was carried out by Airport Development Limited, a Belizean-owned 
company, following a competitive tendering process.  
70. Belize has two domestic airports (the Belize M unicipal Airport and the San Pedro airport on 
Ambergris Caye), which are owned by the Governme nt and managed by the BAA.  In addition there 
are 14 airstrips, which were transferred from the Government to the Belize Airports Authority in 
2004.  
71. All ground handling services are provided by Ae ro Dispatch Services Ltd., a private, 
domestically owned company.  According to the au thorities, self or mutual handing is not permitted 
for commercial flights.  Detailed information was not available on the duration of Aero Dispatch's 
contract.   
72. Belize has two domestically owned and registered airlines, Tropic Air and Maya Island Air, 
which provide scheduled internal and regional (see below).  In addition, there are three charter 
companies.  All these airlines are privately owned.  One of the main developments over the review 
period, was the expansion by the ma in domestically owned airlines to  provide regional flights:  Tropic 
Air now provides scheduled services to Flores in Guatemala, and Maya Island Air operates scheduled 
flights to Guatemala City, San Pedro Sula in H onduras, and Cancun in Mexico.  The authorities noted 
that there are no legal restrictions on foreign in vestment in airlines registered in Belize.  
73. Various taxes are levied on travellers depar ting from the PGIA.  Non-residents and non-
Belizean citizens are required to pay a departure tax of  US$35.50 (for some airlines this is included in 
                                                     
 
38 Belize Tourism Board online information.  Viewed at:  http://www.belizetourism.org/ 
industry_update/ april2008/airline_development.html. 
39 Figures provides by the Department of Civil Aviation. Belize WT/TPR/S/238 
 Page 91 
 
 
the ticket price).  Belizean citizens and permanent residents are required to pay a departure tax of 
BZ$35.00.  The revenue from these fees is  collected and retained by BACC.   
(c) Other related services 
74. Domestically registered airlines must be re paired and maintained either by companies 
certified by the Department of Civil Aviation to pr ovide these services within Belize, or by companies 
abroad that have been approved by the Department of Civil Aviation.  No repair stations within Belize 
have been certified by the U.S. Federal Aviati on Administration (FAA) or the European Aviation 
Safety Agency (EASA).  Belize does not regulate the provision of computer reservation services.   
(v) Maritime transport services  
75. Maritime transport is governed by:  the Harbour s and Merchant Shipping Act;  the Belize Port 
Authority Act;  the Registration of Merchant Sh ips Act (under IMARBE);  the Wrecks and Salvage 
Act;  and the Abandoned Wreck Act.  Amendments relating to coastal and river trade were made to the Harbours and Merchant Shippi ng Act in 2007.  ISPS regulations were also incorporated.  
Otherwise there have been no changes to Belize's ma ritime transport legislation since 2004.  Belize is 
not party to any bilateral or plurilateral maritime agreements that provide for preferential treatment. 
76. There are no provisions in these laws that limit cabotage transport to service providers based 
on nationality, residency or registration criteria.  Foreign shipping companies are allowed to undertake 
cabotage operations, and do so in practice.  The au thorities indicated that cabotage services consist 
mainly of passenger transport between Belize City  and the islands as well as between Independence 
and Placencia.  
77. The International Merchant Marine Registry of  Belize (IMMARBE) is Belize's international  
ship registry.  It is a department under the Ministry of Finance, and is regulated by the Registration of 
Merchant Ships Act.  Its headquarters are in Beliz e City and it has a number of designated offices 
worldwide authorized to process applications and issue registration documentation.  There are no restrictions on ownership, particip ation in ownership and, investment  or personnel.  To register a 
vessel with IMMARBE, owners are required to provide various documents and certificates.
40  T h e  
flag does not give access to specific subsidies or cargos, nor does it give access to better treatment at 
ports than foreign-flagged vessels.  Information was not available on the number or size of vessels 
registered under IMMARBE.  The domestic fleet comprises vessels of under 30 metres.  
78. The Minister responsible for ports (the Mini ster of Public Utilities, NEMO, Transport and 
Communication) has the authority to appoint and delineate harbours and ports in Belize.41  The Belize 
Port Authority is responsible for regulating a ll ports (including regulation of pilotage, ISPS 
compliance and approval of port fees).  However,  ports may be privately owned and operated.   
79. Belize is approved ports of entry are at:  Belize City, Punta Gorda, Big Creek, and San Pedro.  
There are four additional ports (Dangriga, Commerce Blight, Corozal, and Riversdale), three of which 
are currently inactive.  Belize does not have a cruise  ship terminal.  The major port is the Belize City 
Port, which has the deepwater facilities to handle cont ainerized shipping and cruise ships.  Nine major 
shipping lines provide cargo services to this port.  The volume of container traffic was 31,344 twenty-
                                                      
40 For the documentary and certifi cation requirements, see IMMARBE on line information.  Viewed at:  
http://www.immarbe.com/immarbe2.html. 
41 This authority is derived from Article 3 of the Harbours and Merchant Shipping Act and from 
Article 20 of the Port Authority Act. WT/TPR/S/238 Trade Policy Review 
Page 92 
 
 
foot equivalent units (TEUs) in 2009.42  The port averages 16 container moves per hour and the 
average turnaround time for ships is 14 hours.43  The Belize City Port, was sold by the Government in 
2001 to the Port of Belize Limited (PBL).  PBL also owns and manages Commerce Bight Port, which 
has the facilities to accommodate medium-sized vessel s, although it is currently inactive.  All port 
services in these two ports are provided by the Port of  Belize Ltd.  The Big Creek Port is owned and 
managed by the Belizean-owned Ba nana Enterprise Limited, and is used for exports of oil and 
bananas, and imports and exports of general cargo.44  All other ports (Corozal, Dangriga, Riversdale 
and Punta Gorda) are Government-owned, and manage d by the Belize Port Authority.  The authorities 
indicated that few port services are provided there,  since only Punta Gorda and Dangriga are active, 
and they service mainly passenger transport.  
(vi) Tourism services  
(a) Market trends  
80. The importance of tourism to the Belizean economy continues to grow.  According to a 2008 
IADB report, the industry was estimated to contribut e 11.4% of GDP, with the contribution of tourism 
to the economy estimated at 26% of GDP as well as just over 26% of employment.45 
81. In terms of volume of overnight visitors, Belize is comparable to Caribbean destinations such 
as Antigua and Barbuda, Bermuda, Curacao and Trinid ad and Tobago.  It is heavily dependent on 
visitors from the United States.  There were just ove r 245,000 tourist arrivals (overnight visitors) to 
Belize in 2008.  During 2004-07, arrivals increased year-on-year (231,000 to 251,000), but declined 
by 2.5% between 2007 and 2008, due mainly to a fall in tourist from the United States.  The United 
States accounted for some 60% of tourist arrivals in  2008.  In the same year 14% of visitors came 
from Europe, 11% from Latin America, and 7% from  Canada.  Canada has been Belize's largest 
growth market, almost doubling since 2000.46 
82. Cruise tourism to Belize took off in 2002.  Over the period 2002-04, the number of 
passengers arriving by cruise ship grew from ju st under 320,000 a year to  over 850,000 (some 406 
ship calls).  Since 2005, cruise tourism has shown a declining trend, with nearly 600,000 visitors 
arriving in 2008 (some 274 ship calls).  
83. Most overnight visitors enter through the Philip  Goldson International Airport (some 73% in 
2008), 14% enter through the Benque border with Gu atemala, 10% through the Santa Elena border 
with Mexico, and the remainder through seaports.  
84. Government revenue generated from the touris m sector includes a hotel tax of 9%, which 
contributed around BZ$130million in 2008 (up from 7% at  the time of Belize's previous review).  All 
hotels and lodgings are subject to an annual fee of BZ$5 per bed, plus a one-time initial fee of BZ$25.  
(b) Regulations 
85. There have been no major developments with resp ect to the key actors in the tourism sector, 
nor any major legislative changes.  The Belize National Tourism Council (BNTC) is the policy-
                                                      
42 Port of Belize online information.  Viewed at:  http://portofbelize.com/?page_id=258. 
43 Port of Belize online information.  Viewed at:  http://portofbelize.com/brochure_2007.pdf. 
44 Port of Big Creek online information.  Vi ewed at:  http ://portofbigcreek.com/about.htm. 
45 IADB (2008). 
46 Belize Tourism Board online information.  Viewed at:  http://www.belizetourism.org/ 
content/view/248/295/. Belize WT/TPR/S/238 
 Page 93 
 
 
making entity for the sector.  It comprises of representatives from government and industry, as 
appointed by the Ministry of Tourism, Civil Aviation and Culture.47  The Belize National Tourism 
Board is a quasi-public institution.  Its responsib ilities include promoting and publicizing the tourist 
industry, encouraging transportati on links and tourist amenities, as  well as undertaking research and 
training.48 
86. Hotels, tour operators, and tour guides must be licensed.  Tour operators must be citizens or 
permanent residents, and only Belizean citizens may be  tour guides.  In 2008, there were nearly 1,000 
tour guides and over 220 tour operators.  The Hotel and Tourist Accommodation Act (1997) and subsidiary regulations set out rules on the operati on of hotels and other tourist accommodation.  They 
do not contain any ownership restrictions.
49  
87. Government assistance to the sector is  limited mainly to fiscal concessions 
(Chapter III(4)(iii)), but no data were available on concessions granted.  In 2008, the Customs and 
Excise Duties Act was amended, allowing the granti ng of full or partial customs duty remissions for 
capital goods imported by small licensed hotel and gu esthouse operators for the improvement of their 
properties. 
 
                                                      
47 Belize National Tourism Council Act Cap. 276.   Viewed at:  http ://www.belizelaw.org/ 
lawadmin/PDF% 20files/cap276.pdf. 
48 Belize Tourism Board Act online information.  Viewed at:  http://www.belizetourism.org/ 
component/option,com_remository/ Itemid,170/func,select/id,29/. 
49 Belize Tourism Board online information. Viewed at:  http://www.belizetourism.org/ 
component/option,com_remository/ Itemid,170/func,select/id,29/. Belize WT/TPR/S/238 
 Page 95 
 
 
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