And, in Foreign Trade news, yesterday we told you that the Ministry of Foreign Trade announced the UK's recent decision to maintain its current Autonomous Tariff Quota for raw cane sugar. That means that they will continue to allow 260,000 tonnes of raw cane sugar to enter its market at 0% tariff rate.
The bare details sound simple enough but today the Minister says it was a battle to maintain the status quo.
Francis Fonseca, Minister of Foreign Affairs
"It's good news, very good news for Belize, it means the status quo remains. Belize will continue to be able to export its sugar on the same existing terms and conditions, at least for another few years, I think it's four years or so. So that was something we were concerned about because there were moves in some corners to try and remove that favorable status and extend it to other countries and so it's very important, we did a lot of work in that regard. My predecessor, Minister Courtenay did a lot of important work advancing that issue and we have done so over the last year so we're very happy that the UK government and parliament has approved that process to continue."
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