And keeping it on the subject of the dispute between Belize and Guatemala, both countries signed a Partial Scope Trade Agreement in the early 2000's and the agreement was said to come into effect in 2010. We can't say that it has been brought into much harness or currency - but we do know that business interests in Guatemala are looking closely at Belize, if and when the territorial dispute is settled at the ICJ.
11 days ago in Guatemala City, Carlos Amador from the CACIF Employers' group told us that settling the dispute will bring an element of predictability to cross border business dealings:
Reporter
"From the business perspective, what interest is there in being able to settle this dispute?"
Carlos Amador, CACIF Employers' Group
"I would say the main interest is always certainty, rule of law. And the moment you have the defined borders, well, people have more certainty. The expectation is that there will be no more fights across the undefined border and that they will make things better for everyone and for business. Great volumes have been increasing lately and as far as I'm informed there have been interesting investments in Belize coming from Guatemala and well, that can only spell good news."
Belize currently has a negative trade balance with Guatemala, meaning that it imports less than it exports.
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