1. The complainant may waive at any time during the proceedings or the parties may reach an agreement. In both cases, the dispute must be terminated. The Commission is informed in writing in order to take the necessary measures. 2. A contracting party waived its rights under this schedule if it does not assert its rights under section 11 within twelve (12) months of the end of the Section II consultations. In trade negotiations, the term “partial scope agreement” (PSA) has become common in recent times. In March, T-T signed an agreement of this kind with Panama, a Central American country. In April, the country began negotiations with Guatemala for a PSA. These measures are part of an aggressive and sustained campaign to ensure that Latin America is seen as a new frontier for South-South trade opportunities. The question is: what is a partial agreement? What differentiates them from its terms and conditions, say a two-year agreement? In addition to the PSAs signed with Panama and Guatemala, Brazil has signed with St. Kitts/Nevis, Guyana with Brazil, Caricom with Cuba, Caricom with Venezuela and Belize with Guatemala.
According to the Office of Trade Negotiations, Caricom Secretariat, “Caricom has also entered into a bilateral trade agreement with Venezuela. October 1992. The trade and investment agreement between Caricom and Venezuela was signed in October 1992 and came into force on 1 January 1993. Now, what is negotiated around a table does not always mean that the real world. For example, the agreement is only partially within the scope, which means that it allows reciprocal (bilateral) trade between Belize and Guatemala on a small number of goods. The agreement includes 150 tradable products. The EPI provides for the immediate abolition of tariffs of 50% and 100%; these goods are classified as Category A. Under Class A products, Belize may benefit from preferential tariff margins on Guatemalan products such as tilapia, yellow corn (up to 20,000 tons at 0,000 inches), black beans (up to 875 tons at 875 to one percent), rice, toilet paper, doors, windows, wooden and wicker furniture, matches, most citrus and concentrated, mangoes, guaves, watermelons, pineapples, cooking bananas, etc. The Category A products on Guatemala`s list are those for which Guatemala has granted preferential (in many cases duty-free) access to their market in Belize. The agreement also provides for Belize to phase out its tariffs on Guatemalan imports beyond a three-year price of 50% and 100% for products classified as “B”.