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Belize and Guatemala Look to Finalize a Partial Scope Agreement

A Partial Scope Agreement (PSA) is soon to be finalized between Belize and Guatemala. The agreement seeks to develop a formal trade system between both countries and will also entail food and plant safety, customs and trade facilitation matters as well as a review of existing agriculture quotas, tariff codes, land transportation for goods into Guatemala and payment facilitation. Representatives from both countries met last week to further the discussion. The outcomes of those discussions were not explained in a press release sent out today, but it did indicate that matter was presented to the National Trade Negotiation Commission (NTNC) in a meeting on Friday. Additionally, the NTNC was updated on the the potential benefits and challenges of a substantial trade agreement with Mexico. The Belize Chamber of Commerce and Industry (BCCI) in its presentation reiterated its position of being pro-trade and called for further empirical studies to negotiations with Mexico. The NTNC agreed that the DGFT and the BCCI would conduct further analysis to inform the negotiations.