Belize, Taiwan to sign oil deal by next week

BELMOPAN, Belize-IT was announced this week that the government of Belize and Taiwan’s largest state owned oil refiner, the Chinese Petroleum Corporation (CPC), would be signing a deal that allows the Asian nation to tap large reserves in the Caribbean Sea.

“CPC Corp., Taiwan, will sign an oil exploration agreement with Belize on Sept. 29, upgrading the bilateral cooperation to a new level,” Taiwanese Ambassador to Belize Joseph Shih informed media at a press conference September 19 in his home country.

Calling Belize “the Kuwait of Central America”, Shih said the planned agreement would allow Taiwan to drill in a 4800 square kilometer area in Belize’s waters and would usher in a new era of relations between the two countries.

“Relations between Taiwan and Belize are moving from more traditional agricultural and economic relations to multi-dimensional cooperation,” he said. 

He added that the only factor preventing the countries from signing the deal sooner was finding agreement on the final wording of the contract. Details regarding the deal, including construction dates for the refinery, are expected to be released to the public shortly after the signing.

Belize’s strengthening of ties with Taiwan remains in stark contrast with a majority of the rest of the Caribbean Community, which largely support the mainland government’s ‘One-China’ approach to international relations.

The other four nation’s that have chosen relations with Taipei over Beijing are Haiti, St. Kitts-Nevis, St. Lucia and St. Vincent and the Grenadines.