There is good news for our sugar industry coming after Trade Ministers of the Council for Trade and Economic Development (COTED) agreed that Belize, and other countries in CARICOM, will be able to export sugar to member states. That agreement was made at the 49th Regular Meeting of COTED which convened in Georgetown, Guyana from November 17-18, 2019. On its agenda was the discussion and decision for the establishment of an Integrated Sugar Market that would seek to balance the interests of both regional producers and manufacturers.
The discussions and decisions taken at the 49th Regular Meeting of the COTED with respect to sugar were favorable to regional producers. In summary, the COTED approved the following for Belize: that a monitoring mechanism to determine match of availability and demand requirements be urgently implemented. It reiterated that where there is regional production in the quantity and specifications requested by member states, the protection of the common external tariff (CET) shall remain for the quantities available within the region in accordance with the provisions of the revised treaty. Finally, it reiterated the Community policy that, where regional production meets or exceeds 75% of regional demand, a protective tariff would be applied to the product in question.
The agreement specifically exists for white plantation sugar to be exported between member states of CARICOM who already produce it. It is particularly good news for the American Sugar Refinery/Belize Sugar Industries Ltd. (ASR-BSI Group) and Santander Sugar Ltd. Hon. Tracy Taegar-Panton, Minister of State of Investment, Trade & Commerce and head of Belize’s delegation, says that before this agreement was made, manufacturers requiring white plantation or refined sugar had to import from outside of the region. Belize does consider that we have the required quality, quantity, and consistency needed by CARICOM and as a result, it was integral that we also had access to the market. While it is good news for Belize’s sugar industry, the minister says that it is good news for the region on a whole. “That is a big win for Belize being the lead advocator but it is a big win for sugar producers all over the region.”
Robust discussions between sugar-producing states and manufacturers from other CARICOM states were informed by the recently completed regional study on the Substitutability of Plantation White Sugar for Refined Sugar. The conclusion of that study firmly validated that: “through consultations, research and the presentation of case studies that Plantation White Sugar (PW) can be, and is being used across the industrial food and beverage sectors, regionally and internationally either as direct consumption sugar or with some additional treatment to meet, in particular, color requirements for the carbonated beverage industry.”
This decision now provides the security required by the private sector to invest further in the industry, to upgrade production facilities and produce higher qualities of sugar and to expand output, with the assurance of a CARICOM market that will be protected from subsidized sugar from other sources. The sugar industry of Belize has contributed heavily to this regional effort and can now feel confident that the road is now clear for additional investments in this important sector.
Also part of Belize’s delegation was Senator Hon. Michael Peyrefitte, Attorney General; Duane Belisle, Chief Executive Officer in the Ministry of Investment, Trade and Commerce; Andy Sutherland, Director General for Foreign Trade; and Richard Reid, Senior Trade Economist. Representatives from the ASR-BSI Group and Santander Sugar Ltd. were also included in the Belize delegation.
COTED promotes trade and economic development of CARICOM and oversees the operations of the CARICOM Single Market and Economy (CSME).
