The Directorate General for Foreign Trade is pleased to announce the commencement of the Third Trade Policy Review of Belize by the World Trade Organization (WTO).
The Trade Policy Review Mechanism (TPRM) was introduced into the General Agreement on Tariffs and Trade in 1989 following the mid-term review of the Uruguay Round. The Mechanism was confirmed as an integral part of the WTO in Annex 3 of the Marrakesh Agreement establishing the World Trade Organization. The stated objective of the TPRM is to contribute to the improved adherence by all Members to the rules, disciplines and commitments made under the Multilateral Trade Agreements and to the smoother functioning of the multilateral trading system, by achieving greater transparency and understanding of trade policies and practices of members.
The frequency of review of a Member is related to its weight in the multilateral trading system, as defined by the Member’s share of world trade in goods and services. On this basis, Belize falls under the six year cycle. As the second trade policy review was successfully completed in 2010, Belize is preparing for its third review scheduled to conclude in April of 2017.
The Directorate General for Foreign Trade will host Representatives of the WTO from the 18th – 20th July, 2016. The opening session of this WTO mission will be held on Monday 18th July, 2016 at the Radisson Fort George Hotel in Belize City at 10: 00 am. This session will feature a WTO led presentation on the TPRM process for Chief Executive Officers and other personnel from relevant Ministries, quasi-governmental and private sector organizations. Honourable Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce, Hon. Tracy Taegar Panton will be delivering the keynote speech at the session.
