The UAE has just signed a bilateral trade agreement with Belize, reported Trade Arabia, to open opportunities for energy investments in the Central American state and expand the country’s regional energy profile.

“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,” said Susan Morrice, the chairman and founder of Belize Natural Energy Limited (BNE).

“Through BNE director Josh Stewart, who resides in UAE, and the special relationship he has developed with his Emirati partner, Naqbi, BNE is now in an excellent position to continue to build out its vision,” she added.

According to PR Newswire BNE believes that its country can emulate the UAE’s vision and prominence in the Middle East, through a healthy public-private relationship and a knowledge-based economy.

Oil was discovered in Belize 10 years ago and the country believes, like the late Sheikh Zayed, that oil can spur the transformation of the country in an economic success story.