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Mexicans close businesses in Corozal Free Zone

A week ago, Mexico’s Ambassador to Belize, Carlos Quesnel, told the media that visits from Mexicans to the Corozal Free Zone increased between the period 2016 to 2017. That figure increased by three thousand, from six thousand to nine thousand. That’s a small number compared to the hundreds of thousands of visits from Belizeans to the Mexican State of Quintana Roo, especially Chetumal, in any given year. However, Sur Caribe, a digital news outlet in Mexico, is reporting that Mexican business owners are closing down their establishments in the Corozal Free Zone. According to the article, many businesses in the Corozal Free Zone have closed down due to the difficult economic conditions that are prevailing in the south of Quintana Roo. Sur Caribe reports that many investments made by Mexicans have also resulted in failure because of the pesos’ devaluation against the US dollar. The article cites that the sale of liquor, cigars, perfumes, clothes and footwear continue on a relatively satisfactory level. It states that even international brand name stores have closed shop at the Corozal Free Zone. The article says that because many stores at the Free Zone sell ‘knock off’ goods, this has caused a decrease in visits from Mexicans.