March 2017 | Business View Caribbean

70 71 As its name suggests, the Economic Devel- opment and Petroleum arm of the Ministry is engaged in the creation, promotion, oversight, and implementation of national economic development strategies such as the Horizon 2030 vision for Belize as well as the Growth and Sustainable Development Strategy (2016 – 2019). Additionally, the portfolio of Petro- leum looks at Belize’s crude oil industry as well as its future potential for the exploration and continued export of commercial petro- leum products. Minister Taegar-Panton’s arm, Investment, Trade, and Commerce, has four main divisions: The Investment and Policy Unit is responsible for: n Investment Compliance n Policy Development n Due Diligence n Management of Free zones n Gaming Control The Directorate General for Foreign Trade is responsible for: n Trade Negotiations n Trade Intelligence n Policy Development The Ministry of Economic Development, Petroleum, Investment, Trade, and Commerce Hon. Tracy Taegar-Panton AT A GLANCE The Ministry of Economic Development, Petroleum, Investment, Trade, and Commerce WHAT: A Ministry of the Government of Belize WHERE: Belmopan, Belize WEBSITE: www.belizeinvest.net The Belize Bureau of Standards is responsible for: n Enforcement of Standards across industries n Management of Supplies Control n Development of Standards n Consumer Protection The fourth division is known as BELTRAIDE (The Belize Trade and Investment Development Service). BELTRAIDE is a statutory body that operates within the portfolio of the Ministry of Economic Development, Petroleum, Investment, Trade, and Commerce. Its mandate is to promote and facilitate local and foreign investment; foster the continued development of exports to increase foreign exchange; increase employment