A tractor hauls loads of sugar cane in Belize. (File photo)

Belize government assures that trade with EU will continue after Brexit

A tractor hauls loads of sugar cane in Belize. (File photo)

Following the exit of the United Kingdom (UK) from the European Union (EU) yesterday, January 31, the Belize government moved to provide assurances that trade with the country will continue.

The Belize government said trade with the EU will continue after Brexit.

Now that the UK’s withdrawal agreement has been finalised, a one-year transition commenced to complete its departure from the 28-member union.

In a release yesterday, the Government said its business with the UK will continue to be governed by the CARIFORUM EU Economic Partnership Agreement (EPA).

The EU is the largest market for Belize’s sugar and bananas.

Noting that the UK is the largest market for its sugar and bananas, Belize said it welcomed “the approach to EU international agreements during the EU-UK transition period which is set out in the notification issued by the European Union in the context of the UK’s withdrawal from the EU.”

Further, the country said “Belize can confirm that for the purposes of all its international agreements with the EU, including bilateral and multilateral agreements, Belize will treat the UK as an EU member state for the duration of the transition period.”

The Caribbean Forum (CARIFORUM) countries and European Union (EU) signed the EPA in 2008 allowing for the two regions invest in and trade with each other as well as provide predictable EU market access for these countries.

Additionally, it also makes it possible for CARIFORUM companies to set up a commercial presence in the EU.