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Belize and Mexico sign business agreement to strengthen their relationship

The Government of Belize and the Mexican state of Quintana Roo, Mexico are working together to expand business and trade opportunities. Yesterday, the two sides signed two memorandums of understanding with the hopes of strengthening their business relationships. The first memorandum was signed between the Corozal Free Zone and the Chetumal Industrial Park to collaborate on attracting investment and markets. The second memorandum formalized the commitment between the Ministry of Finance, Economic Development and Investment of Belize and the Secretary of Economic Development of the State of Quintana Roo to establish a formal framework for inter-organizational technical cooperation and coordination. Prime Minister John Briceño explained the ways the agreements can translate to more meaningful collaborations between the private sectors on both sides of the border. 

John Briceño, Prime Minister of Belize: “We believe that by setting up this installation here, connecting it to the Freezone in Corozal that we can use that avenue to create, to be able to connect to the CARICOM market. Belize is a member of CARICOM and that’s why then we can use Mexican products or materials and then finish the products in Belize and then have access to the CARICOM market. It’s a great process for both countries, for both Quintana Roo and for Belize and I want to urge Belizean business people to take advantage of this, to come here, look at what’s happening and see how they can take advantage of this great opportunity that is being made available to us through this memorandum of understanding. In January we were invited to a conference and in Cancun and then, well, CEO Garcia, I couldn’t make it so she was there along with Minister Mai. Pretty much a lot of the work is basically CEO Garcia that has been pushing to ensure that we can come up with an agreement, sign an MOU that can benefit not only Mexico but certainly for it to benefit Belize.”