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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...

Outlook for MERCOSUR-Asia Relations

Outlook for MERCOSUR-Asia Relations

Recently, MERCOSUR has been increasing efforts to form trade agreements with different countries and alliances around the world. A trade bloc comprised of Argentina, Brazil, Paraguay, and Uruguay, MERCOSUR has a lot to offer in terms of trade benefits and economic opportunity. Collectively, the bloc’s GDP amounts to over US$2 trillion, a powerful negotiating point when drawing up trade deals. With Brazil having the largest and Argentina having the fourth largest economies in South America, international trade blocs and alliances could easily get their foot in the door of the Latin American market through an agreement with MERCOSUR.  With MERCOSUR’s latest trade deal with the EU complete, the focus is now on Asia. The economic and political relationships between these two regions has been slow-moving, but the two are now on the same page. Overall, the future looks promising and profitable for foreign investors and businesses looking to invest and do business. Business - Why Asia and MERCOSUR? At first glance, Asia and MERCOSUR member countries couldn’t be more different. Physical distance between the two regions is enough to deter talks of trade. Moreover, one would think that cultural, language, economic, and political barriers add an additional, overwhelming aspect to the mix. However, these initial judgments are far from the truth. Recently, the two regions realized the similarities in their approaches to economic, environmental, and developmental plans. This created a natural, comfortable environment for trade talks to startup and flourish.  Relations with China China,...

Why Education is an Increasing Australian Export to Latin America

Why Education is an Increasing Australian Export to Latin America

As the world becomes increasingly globalized and education becomes more accessible, it is not uncommon for university students to travel abroad to pursue their studies. The total number of students studying abroad these days recently reached nearly 7 million, with the majority traveling from the US, UK, Australia, and China. With students from all around the world coming and going, there seems to be one popular destination for everyone: Australia. Australia has one of the largest education export industries in the world. Currently, the country is experiencing an increase in students coming from Latin America. Opportunities to increase accessibility for this market and collaborate with Latin American countries are presenting themselves on a daily basis for Australia. Investors and businesses, both in education and shoot-off industries, can benefit from serving the Latin American market. Export to Latin America - Overview of Australia’s tertiary education sector Education is currently Australia’s largest service sector and third largest export commodity overall. Exports in this industry totaled a staggering AU$28 billion in 2017, and could increase to as much as AU$35 billion by 2025. To match this hopeful target is the goal to increase international student enrollment in Australia to 940,000 per year by 2025. Given the country has seen an average annual growth rate of 6.5% in the industry, meeting this goal should be within reach. Providing these education services is a team of 43 different universities in the country. 40 of the universities are public, one is private...

Javier Mata Shares Insights on Agricultural Trade Between Mexico, New Zealand and Australia

Javier Mata Shares Insights on Agricultural Trade Between Mexico, New Zealand and Australia

Biz Latin Hub had the opportunity to speak with Javier Mata, Managing Director of Austeca, a Mexican firm that develops and executes projects for agricultural and livestock companies. Mexico City intern Jana Phillips chatted with Mr Mata, who has over 40 years of experience working in the agricultural sector with firms from all over the world. In particular, he has worked closely with New Zealand and Australian agricultural businesses which have formed an important part of his career, importing livestock into Mexico. Australia-Mexico-New Zealand Relations Mr Mata shares his insights into the invaluable relationships he has formed with Australian and New Zealand firms and the challenges his business has overcome. He highlights the promising future of New Zealand and Australia's agriculture and agritech sector, and prevalent business opportunities for Mexico. Last year BLH conducted an interview with ANZMEX, (Australia, New Zealand & Mexico Business Council) which provides further insights on business opportunities between Mexico and Australasia. How did you end up importing livestock from Australasia into Mexico? I’ve been in Mexico for thirty years. I came to Mexico from Australia. Prior to that, I lived in Argentina, where I was born. I lived in Australia for 15 years and while there I went to university and started working, exporting livestock from Australia to the Middle East and North Africa. An opportunity came up in Mexico and I was asked to come here and open an office. What I have mainly done during my time in Mexico is import livestock from Australia and New...

Opportunities to Export New Zealand Wine to Latin America

Opportunities to Export New Zealand Wine to Latin America

Latin America is home to powerhouse wine producing regions Argentina and Chile. However, New Zealand already exports more wine than Argentina and South Africa. There are already many benefits of trade between New Zealand and Latin America. Now, an opportunity lies in promoting New Zealand as a provider of high-quality wines in the region. Below, we look at the 5-step process to export wine from New Zealand and opportunities in the Latin American wine market. The New Zealand wine market New Zealand wine is getting big. It has already earned itself a prestigious reputation in the United Kingdom, the United States and Australia. In 2018, the New Zealand wine industry reported its 23rd year of consecutive growth. Currently, it is the world’s 7th largest wine exporter with exports valued at NZ$1.7 billion. While famous for Malborough region sauvignon blancs, Central Otago pinot noirs are now also making their mark in international competitions and awards. Furthermore, a focus on sustainability and respect for the environment differentiates New Zealand winemakers from the rest. Wine tourism is now an important sector for the New Zealand economy. 27% of all tourists that come to New Zealand visit vineyards. With a spend of $3.8 billion, it’s too big a market force to ignore. Although many tourists can buy wine directly from the cellar door to enjoy back home in their country, what happens when they want more? New Zealand wine is as common as any other on a UK supermarket shelf. However, there are still parts of the world that are not familiar with New Zealand’s high-quality...

International Trade Peru: What are the Upcoming Opportunities?

International Trade Peru: What are the Upcoming Opportunities?

According to the Peruvian Minister of Foreign Trade, Édgar Vásquez, national Peruvian shipments will reach USD$52,000 million this year, surpassing the previous record number of US$47,700 million last year. Even though total exports broke a record in 2018 (with a 7.5% increase), they were not able to meet the initially established goal. Still, the Ministry of Foreign Trade (Mincetur) is optimistic about the results and the promising forecasts of national shipments in 2019. At the end of 2018, non-traditional shipments totalled USD$13,200 million, which represented an increase of 12.6%. This indicates that shipments of 829 products broke record numbers. Products such as grapes, avocados, blueberries, squid, tires, radial accumulators, iron bars, among others, reached a historic record in 2018. International Trade Peru - Export Trends 2019  The bright future of Peruvian exports reveals promising export figures, exceeding USD$52,000 million in 2019. Of this total, non-traditional shipments will reach USD$14,500 million (9.84% growth) this year. Despite a lower growth rate compared to 2018, a new record will absolutely be set. Vásquez explained that as of 2018, the non-traditional sectors will have homogeneous behaviour. That is to say, most of them will manage to continue to grow. More specifically, significant sectors worth mentioning are agro-industry, fishery, and minerals (iron steel). However, there are also positive prospects for the exports of jewellery, plastics, and non-metallic mining. Governmental support for the export sector encourages growth rates to hold. In...

How to Export Products from Australia to Vietnam

How to Export Products from Australia to Vietnam

Since the late 1980s when Vietnam launched its first economic reforms, the economy has been growing rapidly and has now become one of the most dynamic economies in Asia. This article serves as an in-depth overview for Australian entrepreneurs who would like to join this growing economy and want to understand the process of exporting products from Australia to Vietnam. Exporting from Australia to Vietnam - Understanding the Vietnamese Economy Vietnam has welcomed various international investments and trading partners. Not only has the country obtained membership in ASEAN, the WTO, and China-ASEAN Free Trade Agreement, but it has also negotiated a number of FTAs with several other countries. Some FTAs include Australia, China, Japan, India, Korea, and New Zealand. Many markets are still unexploited in Vietnam, and the country is forecast to be one of the top 10 fastest growing economies in the world in the next few decades. Export Regulations You Need to Know Exporting products to Vietnam can help your business access new markets and increase your competitiveness by reducing local dependence on the local Australian market. To ensure your trading operations are successful, you will need to be informed and updated on government regulations in both Australia and Vietnam.  Export Control Act Based on the Export Control Act of Australia, the export of agricultural goods to Vietnam is controlled and regulated by Australia’s Department of Agriculture and Water Resources. To comply with all importing regulations in Vietnam, all agricultural products such as egg products, dairy,...

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