Yesterday, Italy’s Minister for Economic Development, His Excellency
Claudio Scajola was welcomed to Belize. Minister Scajola arrived in the country
yesterday and met with Minister for Foreign Affairs and Foreign Trade, Honourable
Wilfred Elrington, and with Minister of Economic Development, Honourable Erwin
Contreras.
The Ministers discussed strengthening bilateral economic and commercial relations
by identifying areas of economic cooperation and instruments to encourage Italian
investment in Belize and Belizean investment in Italy. Italy has a GDP of almost
2 trillion dollars and the country is ranked number 11 in the World for purchasing
power.
Belize and Australia Sign Tax Info Exchange Agreement
The worldwide recession plunged the economies of both developed and underdeveloped
countries into a tailspin, sending financial policy makers scrambling to find
new sources to boost revenue.
Developed countries have looked to tax monies hidden in so-called tax shelters
including Belize’s offshore sector. That’s why the High Commissioner
of Australia to Belize, Phillip Kentwell was here signing a Tax Information
Exchange agreement with Belize yesterday. This brings to four so far, the number
of exchange agreements signed by Belize. The other three are with the United
Kingdom, Belgium and the Netherlands. Other countries in the Caribbean are also
signing identical agreements.