In October, 2003, the Prime Minister of Belize, Said Musa announced a five year economic cooperation agreement with Taiwan that will help develop and finance basic public services within the Central American jurisdiction.

The announcement was made following Musa's return from the 4th Summit of Heads of State and Government between the Republic of China (Taiwan) and the SICA (Central American Integration System) Member States.

"At this 4th Meeting the Leaders discussed political issues, trade, investment, tourism, security and cooperation," explained a statement from the office of the Belize Prime Minister.

"The Central American leaders reiterated their support for Taiwan’s re-incorporation into the United Nations and its participation in other regional and international organizations. President Chen reiterated his continued support for the development of Central America," the statement added.

In 2003, Belize signed up to an agreement on intellectual property development. According to the World Intellectual Property Organization (WIPO): "The agreement establishes the terms of a project that is designed to support a more effective integration of the region into the global economy by fostering technological innovation, creativity and competitiveness through intensive and effective mobilization and use of intellectual property."

In June 2005, Belize and Guatemala extended talks on a possible Partial Scope Trade Agreement (PSA). Proposals on market access were cited as the primary reason for the decision to convene a fourth round of talks. These negotiations included the lowering existing tariff and non-tariff barriers, a move intended to enhance bilateral trade. Provisions for the removal of non-tariff barriers were also included in the agreement. The trade pact is also expected to provide an investment promotion and protection framework. Guatemala has also proposed measures concerning financial services and tourism.

In January 2006, six Caricom member states formally signed a declaration of their governments' compliance with the provisions of the Treaty establishing the Caricom Single Market and Economy (CSM).

The countries, namely Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago, became the first six Caricom countries to have signed on to the single market.

Heads of government on signed a document entitled 'Declaration by Heads of Government of the Caribbean Community marking the coming into being of the Caricom Single Market'. These Member States entered into Single Market arrangements on 1 January 2006.

Secretary-General Edwin Carrington described the launch of the Single Market as an "historic and unprecedented step" in the regional integration process, and a new dimension that will change the way the people of the region live and work. He has urged the region to be "fully prepared" for the challenge that will come with the launch of the CSM.

Meanwhile, Caricom’s Assistant Secretary-General for Human and Social Development, Dr. Edward Greene, believes that the free movement of goods, services, capital and persons will be an opportunity for Caricom nationals "to make the Caribbean one market that would work for individuals irrespective of their country of origin."