The United Arab Emirates (UAE) and Belize signed a trade agreement last week that is expected to serve as a catalyst for investments from the UAE, both from the private sector and government.
With its discovery of oil 10 years ago, Belize now shares a similar vision with the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan, Susan Mortice, chairwoman and founder of Belize Natural Energy Limited (BNE), said. That vision includes the belief that the discovery of oil is only the start of the ultimate economic success story for the country.
The BNE’s model was essential to the agreement, which will strengthen Belize’s position as a regional energy leader in Central America and the Caribbean.
“The signing of the UAE-Belize agreement is a critical step in fulfilling the original vision of native Belizean Mike Usher, who always believed that his country was full of abundant natural resources,” Mortice said. “He also believed that through the BNE holistic business model, the economic benefits of those resources could be shared by all Belizeans and pave the way for a better Belize. Since BNE first discovered commercial oil in 2005, we have always stayed true to that original BNE model and vision. Through BNE director Josh Stewart, who resides in UAE, and the special relationship he has developed with his Emirati partner, Ali al Naqbi, BNE is now in an excellent position to continue to build out its vision.”
