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Overview of Import and Export Regulations in Belize

Overview of Import and Export Regulations in Belize

Getting to grips with import and export regulations in Belize is essential for anyone looking to enter the international freight market in this English-speaking Caribbean nation. Although Belize is not as popular an investment destination as its Central American neighbors, the country offers businesses an unsaturated market that highly encourages foreign investment. Those conditions also make starting a business in Belize an attractive prospect. Belize is an active member of the World Trade Organization, and its government emphasizes improving commercial ties with large markets such as China, Mexico, and the United States. As a result, import and export is a prosperous sector in Belize, with annual exports in 2018 totaling $354 million (USD), as imports reached $1.05 billion (USD). Import and export regulations in Belize: how to start? Import and export regulations in Belize encourage foreign investment To begin import and export operations in Belize, you must officially establish your company in the country. To do this, you must register your company with the Belize International Corporate Affairs Registry (IBC), and obtain a business license, which will allow you to market products or services within the country. Then, you must follow the general steps to start an import and export process in Belize, which are: Submit the application formObtain an interview with the Belize Chamber of Commerce and Industry (BCCI)Present a copy of the company's registration issued by the IBC to the BCCI Note that the BCCI is in charge of approving trade licenses. Furthermore, the local...

What are the Free Trade Agreements in Guatemala?

What are the Free Trade Agreements in Guatemala?

Guatemala is bolstered by free trade agreements with the United States, the European Union and other Central American countries. The diverse country is blessed by its strategic location, representing a natural bridge between North and South America. In addition, the country takes advantage of being located in the Eastern Standard Time (EST)  zone, which is congruent with key hubs of the lucrative North American market. Guatemala, therefore, meets the best preconditions for conducting trade and other economic activities with the United States, and other key players in the global market. We outline the most significant free trade agreements in Guatemala.  Guatemalan Free Trade Agreements Taiwanese exports to Guatemala include tobacco, seafood (shrimps and lobsters), copper articles, plastic materials, and some other. Taiwan-Guatemala free trade agreement The free trade agreement between Guatemala and Taiwan, enforced in 2006, is primarily based on the extension of free tariff treatments of agricultural exports. As part of that, Guatemala exports US$40 million in products to Taiwan and imports US$90 million.The main exports from Guatemala are sugar and coffee. In return, Taiwanese exports to Guatemala include tobacco, seafood (shrimps and lobsters), copper articles, plastic materials, and some other.Furthermore, the free trade agreement allows business people from Taiwan to invest in Guatemala and to extend their business operations to the United States and other countries in Central America. The latter is possible, as Guatemala is also a member of the Central American Free...

What are the Trade Agreements in Bolivia?

What are the Trade Agreements in Bolivia?

Bolivia’s trade environment is open to many countries; the nation’s economy strongly depends on international trade. Its trade to GDP ratio rose to 56.7% in 2017. This is an indicator that calculates the relative importance of international trade in the economy of a country.For 6 years, between 2013-2018, Bolivia has been growing at an average annual rate of 5.1%. However, factors such as structural problems have caused issues to its trade and commercial environment. Despite growing pains associated with opening up the economy to new investment, Bolivia continues to attract business from foreign companies and develop international connections. As a company looking to expand into Latin America, consider the opportunities generated by trade agreements in Bolivia, and how your business operating within the country can access important consumer markets abroad. Overview: trade agreements in Bolivia Bolivia is a member of various trade agreements that help it to stimulate the business and economic growth of the country. World Trade Organization The goal of the WTO is to help countries enhance their export and import activities in order to conduct increased trade abroad. The World Trade Organization (WTO) is the world’s largest trade organization. Bolivia has been a member of WTO since it was created in January 1995. The World Trade Organization is a global international organization that deals with the rules and organization between countries. The goal of the WTO is to help countries enhance their export and import activities in order to conduct increased trade abroad. The WTO...

New Zealand Exports to China Supported by Upgraded Trade Deal

New Zealand Exports to China Supported by Upgraded Trade Deal

New Zealand is famous for its highly competitive business conditions, including ranking number one in the World Bank Group’s Ease of Doing Business report. The Oceanic island-nation is consistently one of the most transparent countries in the world, and dependence on New Zealand's export economy has driven successive governments to seal new trade deals and agreements with key partners. In November, New Zealand signed off on an upgraded free trade agreement (FTA) with its biggest trading partner: China. This partnership, which has seen New Zealand exports almost quadruple since its founding in 2008, reaches historic levels of bilateral commitment and offers new opportunities for importers and exporters on both sides. We explore the outcomes for businesses operating in and trading from New Zealand as a result of this landmark deal. International trade relations: New Zealand and China Bilateral relations between New Zealand and China began in 1972, and the two countries signed their original free trade agreement in 2008. This historic relationship was the first of its kind between China and a developed nation. As China and the surrounding region experienced a significant economic boom between 1979-2017, this relationship and others like it with Asian nations became of increasing importance to New Zealand. New Zealand’s Asia-centric foreign policy agenda has resulted in strong ties with major and emerging powers in the region. China is now the country’s largest trading partner. Between them, their total import and export activity reaches NZ$32 billion. Chinese students...

Opportunities for Exporting your Cannabis Oil Products in LATAM

Opportunities for Exporting your Cannabis Oil Products in LATAM

Latin America has taken a firm grasp of the global cannabis industry. This year Colombia is set to produce 40.5 tons of the medical cannabis plant, which is 44% of the global quota allowed by the International Narcotics Control Board (INCB).  An increasingly lucrative area of cannabis production is manufacturing derivatives from the plant. All parts of the plant can be used from the root, through to the stem, right up to the flowers and the seeds. Cannabis oils are a recently popular product on the shelves thanks to its pure and easily-controlled doses. This is a favored product in the medical community currently.  How is cannabis oil made?  By 2025, the cannabidiol market is expected to grow to USD$9.7 billion at a compound annual growth rate of 32%.  Cannabidiol (CBD) is one of the most popular derivatives from the raw plant thanks to easily controlled doses of the psychoactive compound, tetrahydrocannabinol (THC).  CBD is extracted from the hemp plant in a variety of ways. The basic idea, however, is to separate out active compounds and collect them as oil which are then processed further. This can be done using CO2 or ethanol as solvents. Activating the substance requires heating followed by a purification process.  Cannabidiol uses Cannabidiol is a versatile product with a wide range of uses. Dependent on the content of THC in the oil, which can be as little as 0.1% and up to 40% concentration, the oil is said to have different functions.  Those with less than 0.3% THC are reportedly used for medical purposes. Those oils with more than 0.3% THC tend to be more for...

Overview of Australian Trade Agreements with Latin America

Overview of Australian Trade Agreements with Latin America

Being isolated deep in the South Pacific, Australia’s economy relies heavily on good business relations and free trade agreements (FTAs). In order to stimulate opportunities for Australian companies, it is the role of the government and its various trade agencies to diversify and broaden the number of countries that can trade with them.   Though Australia's relations with Latin America were more or less inconsequential in the past, today, their relationship is entirely different. Over the last 20 years, Latin America’s impressive growth statistics have caught the attention of Australian businesses. Consequently, the Australian government has reached favorable trade agreements with several countries and associations in Latin America.  Before incorporating a company as a foreign investor, it is worth examining the various trade agreements on offer to establish how your company can benefit.  Trade between Latin America and Australia With it’s 10 free trade agreements, connecting with countries all around the world, Australia’s economy is reinforced and bolstered by its economic partners. FTAs provide importers, exporters, producers, and investors with better access to international markets, often with reciprocal favorable tariffs. In the case of Australia, FTAs offer: a better competitive position for Australian exports. more prospects for increased bilateral investment. reduced import costs for Australian businesses and consumers. Australian Free Trade Agreements (FTA) with Latin America Australia has 2 operational FTAs with South American countries with 2 more awaiting...

Import and Export in Peru: Understand International Trade Requirements

Import and Export in Peru: Understand International Trade Requirements

When a business grows, exporting and importing goods becomes a major part of its business model. Selecting the appropriate country to expand to is key to securing positive returns on investment.  Peru is a consumer market of 32 million people, strategically located in the center of the region, facing the Pacific Ocean. The country holds 20 free trade agreements (FTAs) and has access to dozens of countries through other multilateral alliances and treaties. Having trade deals with the European Union, the UK, China, the US, India, Australia, the South American region and many more countries, has transformed Peru into an attractive point for investment. Peru’s steady economy and international relations make the country a great option to expand business globally. In this article, we outline the procedures of importing and exporting in Peru. Private investment driving greater import and export in Peru Private investment increased in the third quarter of 2019, which is predicted to dynamize the economy. Peru’s economy has grown at an annual average rate of 5% over the past 20 years and experienced an increase in private investment of 7% in the third quarter of 2019. A growing private investment sector goes to show that investors trust in the Peruvian economy is increasing, as a consequence, 2020’s economic outlook is on the bright side.  On the international market, Peru has a good reputation for minerals, agriproducts, textiles and more. In July 2019, the export of agricultural goods reached a value of US$550 million, an amount that surpassed last year’s record for the same...

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