Belize became a General Agreement on Tariffs and Trade (GATT) contracting party in 1983 and is an original Member of the World Trade Organization (WTO). The WTO was formed in 1994 by the Marrakesh Agreement that was negotiated in Marrakesh, Morocco (View Agreement). The WTO is a multilateral organization that replaced the GATT. More importantly, its agreements that Member States signed on to governs world trade among its members. The WTO Agreements can be found at, http://www.wto.org.

Belize is obligated to comply with the WTO agreements when trading and negotiating any trade agreement with other countries. Belize’s main external policy provides for special and differential treatment for developing countries and the recognition of the special status and needs of small, vulnerable, developing economies.

Belize grants Most Favored Nation (MFN) treatment to imports from all countries except those that qualify for preferential treatment under the Revised Treaty of Chaguaramas and those goods covered under the Partial Scope Agreement with Guatemala and the recently concluded Economic Partnership Agreement with the European Union.