Belize Secures CARICOM Approval for Trade Deal with El Salvador

Belize and El Salvador are on the verge of sealing a major trade deal. Talks for a Partial Scope Agreement started back in 2023, with the first official round of negotiations happening in December 2024. Since then, there have been two more rounds, and both countries are now close to finalizing the agreement. But Belize can’t just sign off on any trade deal. As a CARICOM member, every bilateral agreement has to get the green light from other member states to make sure no outside country gets sweeter terms than what CARICOM members already enjoy. This safeguard keeps the region’s common market fair, prevents uneven competition, and ensures Belize stays aligned with regional trade policies. The good news? Minister Francis Fonseca says CARICOM has approved the draft agreement at its Council for Trade and Economic Development meeting. That means Belizean producers could soon enjoy expanded market access, fewer trade barriers, and exciting new opportunities to grow.

 

Francis Fonseca, Minister of Foreign Affairs and Foreign Trade

“We were very happy that at that COTED meeting in Guyana, the sixty-first meeting that we were able to get that approved. It represents an opportunity for us to open up new trade markets. Expand our exports to countries like Salvador and also approved at that meeting was our extension and enlargement of our existing PSA with Guatemala. So it’s not only Salvador. We’ll be able to work with Guatemala to expand the existing PSA that we have with them. So important because the future of growth of our economy depends on new trade markets, new economic opportunities and that’s what these PSAs represent for Belize.”