Ministry with responsibility for Investment, Trade and Commerce
The Ministry of Economic Development, Petroleum, Investment, Trade and Commerce was established by Parliamentary Mandate. Its Investment, Trade and Commerce portfolio is led by Honorable Minister of State, Mrs. Tracy Taegar Panton. She is ably assisted by the Chief Executive Officer in the person of Mrs. Amparo Masson. The Ministry is responsible for providing policy direction and strategic development in Foreign Trade, Foreign Direct Investment, Industrial and Commercial Development, International Trade Negotiations, and Small Business Development.
The Ministry is tasked with overseeing Commercial Free Zones, Export Processing Zones, Gaming Control and Lotteries. Consistent with the above, the Ministry has overall enforcement responsibility of the Commercial Free Zone Act, Export Processing Zone Act, Gaming Control Act, Computer Wagering Act, Gambling Control Act, Lotteries Act, Metrology Act, Standards Act, and the BELTRAIDE Act.
The Ministry operates under the guiding principles that PARTNERSHIP with the Private Sector is indispensable to achieving its overarching objectives. That it must be RESPONSIVE to the needs, challenges, and opportunities of the investment climate. It also recognizes the need to be PROACTIVE in its forward thinking and policy formulation to promote Investment and Trade. It would ensure that COMPLIANCE with international obligations and standards is always top of its priority. The Ministry would be SOCIALLY RESPONSIBLE in its strategic direction and leadership.
The Belize Trade and Investment Development Service (BELTRAIDE), a Statutory Board under the Ministry is tasked with attracting highly qualified investments, developing small and medium enterprises, as well as promoting “Made in Belize” products.
Belize Bureau of Standards
The Belize Bureau of Standards (BBS) is a department under the Ministry and is tasked with the Standardization, Metrology, Conformity Assessment (Sampling, Inspection, Testing, Certification, and Accreditation), Technical Barriers to Trade (TBT) Enquiry Point, Codex Contact Point, Monitoring and Compliance, Supplies Control, and Consumer Protection.
Directorate General for Foreign Trade
The Directorate General for Foreign Trade (DGFT)
is the successor Department of the Directorate for Foreign Trade (DFT) which only existed through parliamentary mandate and therefore had no legislative act. The Cabinet decision of August 18th 2015 approved the country’s first National Trade Policy Framework (TPF) which has its first pillar as the institutionalization of the DFT. This decision conferred immediate legal statute and mandate, i.e. that its legal status in the Public Service structure must be that of a Directorate General for Foreign Trade with all requisite powers and responsibilities by September 31st 2015. In collaboration with the Ministry of the Public Service, the Solicitor General Office and the Ministry of Finance, the DGFT has been "Gazetted" with its mission, vision, roles and responsibilities.
The National Authority leading trade and linking the domestic supply chain to compete in the global market.
To foster sustainable and inclusive economic development through a responsive trade policy that stimulates trade, enables investment and facilitates Belize’s integration into the multilateral trading system