7 News Belize

Learning How To Export Wisely
posted (April 11, 2013)
Last night, we showed you the Caribbean Export Development Agency's training workshop. They were trying to help the private sector access a portion of the European Development Fund, which has ear-marked a budget of 2.5 million European dollars for the Caribbean.

Belize has to share access to this fund with 14 other CARIFORUM countries, so as expected, Belizean companies must make a major impression on the agency in order to be granted any portion of it.

Only companies which are looking to export their goods and services have access to this funding so today, in line with that, the Ministry of Trade, released its plan of action called the National Export Strategy.

It is a 5-year plan designed to stimulate export within different areas of the private sector, and today the Ministry unveiled the plan to stakeholders to get their input and consultation.

Here's an excerpt what the Executive Director of BELTRAIDE told the gathering about this, the second iteration of the NES, and the challenges that the first plan faced.

Nicholas Ruiz - Executive Director, BELTRAIDE
"Similarly annunciated is the fact that though the merchandise trade deficit rose by 23.3% in the fiscal year in 2012-2013,total exports rose by $43.1m BZD. It is against this backdrop of good news, tempered by the sobering fact that as an exporting nation we ought to produce and export more, that today we gather here to continue with the arduous work that is the reformation of a national export strategy for Belize, one that must be above all, attainable, realistic and truly representative of the Belizean experience.

In this regard, we will do well to learn from the past, I make quick reference to the last NES for Belize initiated in 2006. The lessons learned reverberates still at the daunting task of actually implementing an national export strategy confronts us. While the NES of then sought to provide an overall framework for export development to highlight five prior sectors and to make specific recommendation for the expansions of Belize's productive and export capacity and for increasing firms competitiveness in external markets, the strategy for all intents and purposes did not take full effect."

David Gomez - Representative, Caribbean Export Development Agency
"From Caribbean Export, under the tenth EDF Regional Private Sector Development Program, we have about $100m BZD to do work in export development. Now that's a lot of money,but that's a lot of money that has to be shared in how we engage the rest of the Caribbean, the CARIFORUM. If you're thinking about fifteen CARIFORUM countries, on an equitable distribution basis, it is $6 or $7 Million per country; that is still a lot to do the development work."

The plan is targeted at stimulating growth in Belize's capacity to export in the areas of agriculture, agro-processing, tourism, ICT technology, Professional Services, energy with the focus on biofuels, and fisheries and marine products.

Also speaking at the strategy's unveiling was the CEO of Minstry of Trade, Mike Singh. He spoke on this strategy's capacity to provide employment to the younger generation. It's an important excerpt in light of the challenges young Belizeans face in trying to become employed.

Mike Singh – CEO, Ministry of Trade
"It's important for us to understand that this ministry has been set up specifically to work at the effort of building the economic opportunities within the private sector, with the intention of one; improving employment. I'll stick a pin in that one for a second, because improving employment has to be the entire nation's task at this point. Every time I look at the chart for a population demographics, I see that there is something like 70-80% of our people that are below the age of 25. It means that if we don't get our act together and start stimulating reasons for people to stay in Belize and be employed, we are going to have a tough time moving forward. It's a job that everybody in this country has to roll up their sleeves and get to. All of us that are over 25, I'm a little bit over it - not much, we have a task ahead of us to try and make opportunities for those people that are under 25. It really breaks my heart when I see McDonald's coming to Belize recruiting our smart young people to take them to Canada to work in minus zero degree weather to work for minimum wages, when we have the opportunity to create those jobs here. There is no reason why we can't do it. Today what we're going to talk about is one of those mechanisms."

Today's unveiling was an all-day event.

Home | Archives | Downloads/Podcasts | Advertise | Contact Us

7 News Belize