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On 3 February 2005, diplomatic relations between Belize and the Republic of Latvia were established at the Permanent Mission of the Republic of Latvia to the United Nations in New York.
The protocol for the establishment of diplomatic relations was signed by the Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Republic of Latvia to the UN in New York, Gints Jegermanis, on behalf of Latvia, and by the Ambassador Extraordinary and Plenipotentiary, Permanent Representative to the UN in New York, Stuart W. Leslie, on behalf of Belize.
Latvia maintains friendly relations with Belize; however, the geographical distance hinders active development of bilateral relations.
Latvia and Belize have established successful bilateral contacts within international organisations.
Economic relations
1. Trade (according to data from the Central Statistical Bureau of Latvia)
January - December 2006
1. Lithuania - 788,418,743 USD or 14.11 % of total exports from Latvia
2. Estonia - 677,475,768 USD or 12.12 %
3. Germany - 562,635,155 USD or 10.07 %
4. Russia - 523,368,676 USD or 9.37 %
5. United Kingdom - 443,333,400 USD or 7.93 %
...
86. Belize - 673,648 USD or 0.01 %
1. Germany - 1,609,581,384 USD or 15.02 % of total imports to Latvia
2. Lithuania - 1,373,000,060 USD or 12.81 %
3. Russia - 891,580,050 USD or 8.32 %
4. Estonia - 810,199,559 USD or 7.56 %
5. Poland - 751,076,957 USD or 7.01 %
...
95. Belize - 117,405 USD or 0.00%
In 2006, Latvia had a positive trade balance with Belize of USD + 556 243 USD.
Main exports to Belize by type of commodity, 2006
|
Type of commodity |
Thousand USD |
Percentage of total exports |
|
Total |
673.648 |
100 % |
|
Mineral products
- petroleum oils and oils obtained from bituminous minerals - 99 % |
522.950 |
77.63 % |
|
Products of chemical and allied industries
-paints and varnishes - 80% |
40.443 |
6.00 % |
Main imports from Belize by type of commodity, 2006
|
Type of commodity |
Thousand USD |
Percentage of total imports |
|
Total |
117.405 |
100% |
|
Machinery and mechanical appliances; electrical equipment
- telephone and telegraph electronic apparatus for communication - 85% |
117.405 |
100 % |
Trade dynamics between Latvia and Belize, 1998-2006, USD
|
Year |
Exports |
Imports |
|
1998 |
92,518 |
- |
|
1999 |
17,238 |
- |
|
2000 |
44,762 |
- |
|
2001 |
318,126 |
- |
|
2002 |
22,349 |
1,063,008 |
|
2003 |
35,312 |
1,277,642 |
|
2004 |
174,998 |
116,970 |
|
2005 |
686,932 |
1,737,389 |
|
2006 |
673,648 |
117,405 |
Investments
As of 6 August 2007, 31 Belize - Latvian joint ventures were listed with the Register of Enterprises of the Republic of Latvia, and investment by Belize in the equity of Latvian companies amounted to LVL 393,985.[1]
[1] Lursoft data of the Register of Enterprises of Latvia
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