Belize promotes investment at Taiwan business seminar

貝里斯在台商研討會上促進投資

Belizean delegation says opportunities abound following Taiwan-Belize Economic Cooperation Agreement


TAIPEI (Taiwan News) — The Belizean embassy and the Central American Trade Office held a seminar on Thursday (March 3) to help Taiwanese businesses understand the investment opportunities of the Taiwan-Belize Economic Cooperation Agreement (ECA), which came into effect on Jan. 15.

The ECA decreased taxes on 199 types of imported Belizean products, including frozen lobster, processed citrus products, and seasoning and sauce products. Meanwhile, Belize has cut taxes on 33 Taiwanese industrial products, including motorcycle tires, textiles, steel products, metal wrenches, machine tools, auto parts, and starch products, according to the Ministry of Economic Affairs.

Titled “Seminar on the New Era of Investment and Business Opportunities Stimulated by the Economic Cooperation Agreement between Taiwan and Belize,” the event featured government officials and Taiwanese and Belizean industry representatives who shared information on business climates, trade trends, and investment opportunities in Belize as well as the mutual benefits of the ECA.

Central American Trade Office (CATO) Director Augusto Liao (廖鴻達) said that in 2021, Belize’s GDP grew by 9.8%, the fifth-highest growth in the Latin American and Caribbean region. He said that CATO expects growth to reach 6.5%.

Liao said these achievements are thanks to Belizean Prime Minister John Briceno’s prioritization of trade and investment. He said CATO has been promoting bilateral economic trade ties with Belize for many years, and he hopes Taiwanese businesses will see the investment and trade opportunities Belize can offer.

Vice Foreign Affairs Minister Alexander Tah-ray Yui (俞大㵢) noted that Taiwanese business representatives from industries including food, beauty, trade, green energy, forestry, and tourism were present and said the seminar was a unique chance for Taiwanese to learn about investment opportunities in Belize.

Yui said that the government has been advising Taiwanese businesses to “redirect” purchases from other countries in Central America to Belize. He said he hoped the event would be the beginning of a great partnership and long-lasting trade and tourism between the two countries.

Briceno said that Belize always finds ways to learn from Taiwan and pledged to continue supporting the country. “Taiwan should become an equal partner in world affairs, should be able to participate in the World Health Organization, should be able to participate in matters pertaining to climate change, and in so many other factors.”

The prime minister said that despite the COVID pandemic, Belize has worked hard to reinvigorate its agriculture, tourism, and service sectors, and managed to grow the economy by over 12.5% last year. He reiterated that Belize expects to see more than 6% growth in 2022.

Trade and Investment Ambassador Jaime Briceno said Belize offers many advantages, including its geographically central location, pro-investment government, and bilingual population. Jaime added that the Central American nation’s democratic society, stable currency, skilled labor force, and low cost of operating make it a safe place for Taiwanese businesses to invest.

The trade ambassador highlighted sustainable investment opportunities, which currently make up 9% of Belize’s GDP. He listed fisheries and aquaculture, agriculture, tourism, and offshore sourcing as fields for Taiwanese businesses to invest in.