PARTIAL SCOPE AGREEMENT BETWEEN THE GOVERNMENT OF BELIZE AND THE GOVERNMENT OF THE REPUBLIC OF GUATEMALA
The Government of Belize and the Government of the Republic of Guatemala, hereinafter referred to collectively as “the Parties”, CONSIDERING that the Parties are members of the World Trade Organization (WTO); BEARING IN MIND the rights and obligations of the Parties as members of the Central American Integration System (SICA); HAVING REGARD to the rights and obligations of Belize under the Revised Treaty of Chaguaramas Establishing the Caribbean Community (CARICOM) Including the CARICOM Single Market and Economy; CONSIDERING the desirability of dynamic and balanced economic and trade relations based on mutual benefits and taking into account the differences in the size of their respective economies, in particular, Belize’s status as a Less Developed Country in CARICOM; AWARE of the importance attached by the Parties to the regional and sub-regional integration processes aimed at facilitating the development of the Parties and their competitiveness in international trade; RECOGNISING that trade and economic cooperation are important and necessary elements for reinforcing bilateral relations and for promoting and protecting investments; COMMITTED to strengthening the existing friendly and cultural relations between them; Agree as follows, CHAPTER I INITIAL PROVISIONS Article 1. Objectives The objective of this Agreement is to strengthen the commercial and economic relations between the Parties through: a) the facilitation, promotion, diversification and expansion of trade in originating goods from the Parties by granting preferential margins on their tariffs, eliminating non-tariff barriers to trade, and establishing clear regulations on technical, sanitary and phyto-sanitary measures; b) the development of mechanisms for the promotion of investments and the establishment of a legal framework aimed at conferring legal certainty to investments generated between the Parties, in accordance with the provisions of this Agreement;