Belize and El Salvador Sign Trade Agreement After Nearly 3 Years of Negotiations

After nearly three years of negotiations, Belize and El Salvador have signed a Partial Scope Agreement aimed at opening new markets for Belizean products and increasing investment between the two countries.  The agreement was signed on August 13 and grants selected Belizean goods preferential access to the Salvadoran market. Unlike a full free-trade agreement, a Partial Scope Agreement applies only to products and areas negotiated by both countries.  The process dates back to December 2023, when Belize and El Salvador launched the first round of negotiations. The talks focused on reducing tariffs, removing barriers to trade, protecting investments and creating a system to settle trade disputes.  A second round of negotiations was completed in June 2024, following a meeting involving Prime Minister John Briceño, Foreign Affairs Minister Francis Fonseca and Salvadoran President Nayib Bukele.  By September of that year, Fonseca reported that significant progress had been made, but acknowledged that negotiators were still working through a lengthy list of products and other outstanding matters.

Francis Fonseca, Minister of Foreign Affairs: “Yeah, we’ve made tremendous progress but there’s still some work to be done. You know, there are a number of  outstanding issues but we’re very pleased with the progress that has been made. Our team from the Ministry of Foreign Trade has been working diligently. There’s still a long list of items that we’re discussing with El Salvador for Belize to gain some preferential access. So that’s ongoing.”

Those negotiations have now produced a signed agreement. According to the Ministry of Foreign Affairs and Foreign Trade, the deal will give Belizean exporters access to new markets and reduce the country’s dependence on its traditional trading partners.  The agreement also establishes a Bilateral Trade and Investment Promotion Group. That body will encourage investment between Belize and El Salvador and oversee technical cooperation, joint projects, training and the sharing of knowledge.  Minister of State for Foreign Trade Marconi Leal Junior says the agreement builds on the longstanding friendship between both countries. 

Leal was joined by Chief Executive Officer Ambassador Oscar Arnold, Director General for Foreign Trade Andy Sutherland, Ambassador Emile Mena and other senior officials and private-sector representatives.