Strategy seeks to diversify exports

There was a time not that long ago when Belizean exports could be summed up in one word: sugar. But while today’s economy is far more diversified, as News Five’s Alyssa Noble discovered, you can never have too many baskets for those precious exported eggs.

Alyssa Noble, Reporting
Whether its sugar, citrus or bananas, agriculture has traditionally been the backbone of Belize?s exports. But with the completion of the nation?s first ever National Export Strategy due in September that mix may change.

Lourdes Smith, Executive Chairman, Beltraide
?The national export strategy has been a process that we?ve been going through for about a year now. The aim is to produce a document that has the input of both the private sector, the business people, and the public sector, who are the policy makers or policy advisors. That will establish a policy of how we are going to approach the promotion of exports, investments, etc. for Belize in order to be able to compete internationally in this globalized era.?

David Gomez, N.E.S. Consultant
?I think the key to the national export strategy is to understand that what we are saying is that these will serve as five new priority sectors for Belize for diversifying the economy. It does not necessarily mean that we will do away with economic activity in other sectors. But for the next five to ten years, priority focus should be placed on these five sectors.?

The five sectors the strategy focuses on are environmental goods and services, tourism, aquaculture and fisheries, agro-processing, and information and communication technologies. According to Lourdes Smith, Beltraide executive chairman, there is a reason for selecting these specific sectors.

Lourdes Smith
?Our market in Belize is very, very small. And as somebody mentioned a little while ago, it is easy to flood our markets, with what we produce. So everything that we do we have to gear towards export, in order to be able to generate more foreign exchange for Belize, to create employment, while doing that and at the same time to do it in a way or manner that we can be competitive.?

But the work doesn?t stop there…

David Gomez
?What has to be done, Alyssa, I think is that we have to look at all of the key issues facing each of the sectors we are talking about. Identifying who the competitors are, identifying what the main products under services currently being traded and exported are, and then from that to determine what the niches are that Belize will carve out for itself in each of the respective sectors.?

And while BELTRAIDE, the body responsible for the creation and implementation of the strategy, is taking steps to market the plan, Smith and Gomez say the producers need to capitalize on the opportunities for this export scheme to be effective.

Lourdes Smith
?It is important for the private sector out there to understand that this is being done to facilitate their competitiveness in the export market. At the end of the day it is to fill their pockets and to create jobs for all Belizeans, putting it bluntly like that. So, if it is being done for them, they should take the time out to participate in the meetings and the consultations.?

David Gomez
?Businesses have to now look at; you know we have to develop a proper strategic plan and a proper business plan. We have to know for our respective businesses what our vision is, what our mission is and where we are taking what. The way we?ve operated, these Mom and Pop operations, people just know money is coming and they are spending. They have enough to pay for expenses, they have enough to live and the business continues to grow on that basis. This can no longer continue to work, it has to change.?

Reporting for News Five, I am Alyssa Noble.