WT/TPR/S/391/Rev.1  
27 November 2019  
(19-8128) Page: 1/74 
Trade Policy Review Body   
 
TRADE POLICY REVIEW  
REPORT BY THE SECRET ARIAT  
SURINAME  
Revision  
This report, prepared for the third Trade Policy Review of Suriname, has been drawn up by the WTO 
Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing 
the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World 
Trade Organization), sought clarification from Suriname on its trade policies and practices.  
 
Any technical questions arising from this repo rt may be addressed to Arne Klau (tel: 022  739 5706) 
and Bernard  Kuiten (tel: 022  739 5676).  
 
Document WT/TPR/G/ 391 contains the policy statement submitted by Suriname.  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: This report was drafted in English.  
  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  CONTENTS  
SUMMARY  ................................ ................................ ................................ ........................  6 
1   ECONOMIC ENVIRON MENT  ................................ ................................ ........................  10 
1.1   Main Features of the Economy  ................................ ................................ ..................... 10 
1.2   Recent Economic Developments  ................................ ................................ ................... 11 
1.3   Developments in Trade and Investment  ................................ ................................ ........ 13 
1.3.1    Trends and patterns in merchandise and services trade  ................................ ................ 13 
1.3.2    Trends and patterns in FDI  ................................ ................................ ....................... 13 
2   TRADE AND INVEST MENT REGIMES ................................ ................................ ...........  16 
2.1   General Framework  ................................ ................................ ................................ ....16 
2.2   Trade Policy Formulation and Objectives  ................................ ................................ ........ 17 
2.3   Trade Agreements and Arrangements  ................................ ................................ ........... 19 
2.3.1    WTO ................................ ................................ ................................ ...................... 19 
2.3.2    Regional and preferential agreements  ................................ ................................ ........ 20 
2.3.3    EU–CARIFORUM Economic Partnership Agreement  ................................ ....................... 21 
2.4   Investment Regime  ................................ ................................ ................................ ....21 
3   TRADE POLICIES A ND PRACTICES BY MEAS URE ................................ ........................  24 
3.1   Measures Directly Affecting Imports  ................................ ................................ .............. 24 
3.1.1    Customs procedures, valuation, and requirements  ................................ ....................... 24 
3.1.2    Rules of origin  ................................ ................................ ................................ ......... 25 
3.1.3    Tariffs  ................................ ................................ ................................ .................... 25 
3.1.3.1    Applied MFN tariff  ................................ ................................ ................................ .25 
3.1.3.2   Bindings  ................................ ................................ ................................ .............. 28 
3.1.3.3    Preferential tariffs  ................................ ................................ ................................ .29 
3.1.3.4    Exemptions and concessions  ................................ ................................ .................. 29 
3.1.3.5    Other duties and charges  ................................ ................................ ....................... 29 
3.1.4    Other charges affecting imports  ................................ ................................ ................. 29 
3.1.5    Import prohibitions, restrictions, and licensing  ................................ ............................ 30 
3.1.6    Anti-dumping, countervailing, and safeguard measures  ................................ ................ 32 
3.1.7    Other measures affecting imports  ................................ ................................ .............. 32 
3.2   Measures Directly Affecting Exports  ................................ ................................ .............. 32 
3.2.1    Customs procedures and requirements  ................................ ................................ .......32 
3.2.2    Taxes, charges, and levies  ................................ ................................ ........................ 33 
3.2.3    Export prohibitions, restrictions, and licensing  ................................ ............................. 33 
3.2.4    Export support and promotion  ................................ ................................ ................... 34 
3.2.5    Export finance, insurance, and guarantees  ................................ ................................ ..34 
3.3   Measures Affecting Production and Trade  ................................ ................................ .......34 
3.3.1    Incentives  ................................ ................................ ................................ ............... 34 
3.3.2    Standards and other technical requirements  ................................ ............................... 34 
3.3.3    Sanitary and phytosanitary requirements  ................................ ................................ ....36 WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.3.4    Competition policy, price controls, consumer protection  ................................ ................ 38 
3.3.5    State trading, state -owned enterprises, and privatization  ................................ ............. 38 
3.3.6    Government procurement  ................................ ................................ ......................... 38 
3.3.7    Intellectual property rights  ................................ ................................ ........................ 39 
4   TRADE POLICIES B Y SECTOR  ................................ ................................ .....................  42 
4.1   Agriculture, Forestry, and Fisheries  ................................ ................................ ............... 42 
4.1.1    Agriculture  ................................ ................................ ................................ .............. 42 
4.1.1.1    Features  ................................ ................................ ................................ .............. 42 
4.1.1.2    Trade  ................................ ................................ ................................ .................. 43 
4.1.1.3    Policies  ................................ ................................ ................................ ................ 44 
4.1.1.3.1    General  ................................ ................................ ................................ ............. 44 
4.1.1.3.2    Trade policies  ................................ ................................ ................................ ....45 
4.1.1.3.3    Domestic policies  ................................ ................................ ............................... 45 
4.1.2   Fisheries  ................................ ................................ ................................ ................. 48 
4.1.2.1    Features  ................................ ................................ ................................ .............. 48 
4.1.2.2    Policies  ................................ ................................ ................................ ................ 50 
4.1.3    Forestry  ................................ ................................ ................................ .................. 52 
4.2   Mining and Energy  ................................ ................................ ................................ ......54 
4.2.1    Mining  ................................ ................................ ................................ .................... 54 
4.2.1.1    Gold ................................ ................................ ................................ .................... 56 
4.2.1.2    Bauxite  ................................ ................................ ................................ ................ 58 
4.2.2    Hydrocarbons  ................................ ................................ ................................ .......... 58 
4.3   Manufa cturing  ................................ ................................ ................................ ............ 59 
4.4   Services  ................................ ................................ ................................ .................... 59 
4.4.1    General  ................................ ................................ ................................ .................. 59 
4.4.2    Financial services  ................................ ................................ ................................ .....60 
4.4.2.1    Overview  ................................ ................................ ................................ ............. 60 
4.4.2.2    Regulatory framework  ................................ ................................ ........................... 60 
4.4.2.3    Banks  ................................ ................................ ................................ .................. 61 
4.4.2.4    Insurance services  ................................ ................................ ................................ 62 
4.4.2.5    Other financial services  ................................ ................................ .......................... 62 
4.4.3    Telecommunications  ................................ ................................ ................................ .63 
4.4.4    Transport  ................................ ................................ ................................ ................ 64 
4.4.4.1    Maritime transport  ................................ ................................ ................................ 64 
4.4.4.2    Air transport  ................................ ................................ ................................ ......... 65 
4.4.4.3    Land transport  ................................ ................................ ................................ ......67 
4.4.5    Tourism  ................................ ................................ ................................ .................. 67 
5   APPENDIX TABLES  ................................ ................................ ................................ .... 68 
 WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  CHARTS  
 
Chart 1.1 Merchandise trade by main HS sections, 2013 and 2017  ................................ ........... 14 
Chart 1.2 Merchandise trade by main origin and destination, 2013 and 2017  ............................. 15 
Chart 3.1 Frequency distribution of MFN tariff rates, 2018  ................................ ....................... 26 
Chart 3.2 Tariff escalation by 2 -digit ISIC industry, 2018  ................................ ........................ 28 
Chart 4.1 Exports of wood, 2000 -17 ................................ ................................ ..................... 53 
 
TABLES  
 
Table 1.1 Economic indicators, 2013 -18 ................................ ................................ ...............  10 
Table 1.2 Balance of payments, 2013 -18 ................................ ................................ .............  12 
Table 1.3 Foreign direct investment in Suriname, 2014 -17 ................................ .....................  15 
Table 3.1 Structure of the tariff schedule, 2012 and 2019  ................................ ......................  26 
Table 3.2 Summary analysis of MFN tariff, 2019  ................................ ................................ ... 27 
Table 3.3 Fiscal income derived from import duties, 2013 -18 ................................ .................  28 
Table 3.4 Revenue forgone due to duty exemptions and concessions, 2013 -18 .........................  29 
Table 3.5 Import prohibitions, 2019  ................................ ................................ ....................  30 
Table 3.6 Goods subject to licensing requirements, 201 9 ................................ .......................  31 
Table 3.7 Good subject to certification requirements, 2019  ................................ ....................  31 
Table 3.8 Income derived from export fees, 2013 -18 ................................ ............................  33 
Table 3.9 Prohibited exports, 2019  ................................ ................................ ......................  33 
Table 3.10 Exports subject to licensing requirements, 2019  ................................ ...................  33 
Table 3.11 Membership in intellectual property protection treaties, 2019 ................................ . 40 
Table 3.12 Overview of IPR protection, 2019  ................................ ................................ ........  40 
Table 3.13 Trademark applications and registrations, 2012 -17 ................................ ...............  40 
Table 4.1 Gross value added and gross production value, 2010 -17 ................................ ..........  42 
Table 4.2 Gross value of production, a rea and production quantity, 2007 -16 ............................  42 
Table 4.3 Imports and exports of agricultural products, 2012 -17 ................................ ............  43 
Table 4.4 Rice policies, 2013 -18 ................................ ................................ .........................  46 
Table 4.5 Support estimates for agriculture, 2008 -14 ................................ ............................  48 
Table 4.6 Gross value added and gross producti on value, 2010 -17 ................................ ..........  49 
Table 4.7 Fish catch and aquaculture, 2010 -16 ................................ ................................ ..... 49 
Table 4.8 Number of licences issued, 2010 -16 ................................ ................................ ...... 49 
Table 4.9 Export quantities and values, 2011 -16 ................................ ................................ ... 50 
Table 4.10 Forestry production, 2010 -17 ................................ ................................ .............  52 
Table 4.11 Logging concessions  ................................ ................................ ..........................  54 
Table 4.12 Concession fees and other charges, 2016  ................................ .............................  54 
Table 4.13 Mining indicators, 2010 -17 ................................ ................................ .................  55 
Table 4.14 Large -scale gold mining agreements, selected details  ................................ ............  57 
Table 4.15 Staatsolie production and revenues, 2011 -17 ................................ .......................  59 WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table 4.16 Banking prudential regulations  ................................ ................................ ............  61 
Table 4.17 Selected telecommunications indicators, 2012 –17 ................................ .................  63 
Table 4.18 Trading across borders  ................................ ................................ ......................  65 
Table 4.19 Passenger traffic JAP Airport, 2010 –17 ................................ ................................  66 
 
APPENDIX TABLES  
 
Table A1.1 Merchandise exports and re -exports by HS sections and main HS chapters,  
2012–17 ................................ ................................ ................................ ..........................  68 
Table A1.2 Merchandise imports by HS sections and main HS chapters, 2012 –17 .....................  69 
Table A1.3 Merchandise exports and re -exports by trading partner, 2012 –17 ...........................  71 
Table A1.4 Merchandise imports by trading partner, 2012 –17................................ .................  72 
 
Table A3.1 State -owned enterprises and public sector  foundations  ................................ ........... 73 
 
 
  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  SUMMARY  
1. Since its last Trade Policy Review in 2013, Suriname's economic performance has been highly 
volatile, with annual GDP growth rates fluctuating between -5.6% and + 2.9%. These fluctuations 
were essentially triggered by significant commodity terms of trade and internal shocks, and were 
exacerbated by insufficient buffers and policy responses. Per capita GDP is now about USD 6,500,  
down from USD 8,800 in 2012. A slow recovery of the economy is underway, with an expected GDP 
growth rate of 2% in 2019.  
2. Monetary policy is determined by Suriname's Central Bank , which is not independent. Price 
stability, defined as low single -digit infla tion, is the primary monetary policy objective. Inflation 
peaked in late 2016, at about 60%, but fell to 6% in 2018. Public debt levels increased significantly , 
from 32% of GDP in 2013 to some 80% in 2018. Suriname's economy is  strongly U.S.-dollarized, 
mainly due to experience with high inflation. The current account deficit increased considerably 
between 2013 and 2015, when it amounted to 16.4% of GDP, but it fell in 2016 and 2017, mainly 
due to falling imports, improved terms of trade and recovering expo rts.  
3. Merchandise exports and imports both fell significantly  during the period under review. Total 
merchandise exports declined from USD 2.4 billion in 2012 to slightly over USD 1.2 billion in 2016, 
before rebounding to USD 1.4 billion in 2017. Merchandis e imports peaked in 2013, at 
USD 2.3 billion, but fell to about USD 1.2 billion in 2016 and 2017.  No trade figures are available 
for 2018.  
4. Gold and fuel are Suriname's main export products. Bauxite and aluminium, which were the 
most important export goods in 2007, are no longer produced , due to the closure of the main mine 
in 2016. Switzerland; Hong Kong, China; and the E uropean Union are the most important export 
destinations; imports mainly originate in Trinidad and Tobago, the United States, and the E uropean 
Union. Foreign investment, particularly in the mining sector, plays an important role in Suriname's 
capital formation.  
5. Suriname's institutional environment remains unchanged since the last Review. It is 
characterized by a strong backlog in adopting im portant trade -related laws. Crucial legislation, on 
topics such as customs, foreign investment, mining, trade facilitation, value -added taxes, 
competition, standards, and intellectual property, has been pending, often for more than ten years. 
In practice, a relatively large discretionary decision power and the practice of "ad hocism" have led 
to low predictability of the trade regime, concerns about governance issues , and high costs  of doing 
business.  
6. The Ministry of Trade, Industry and Tourism (MTIT) is the lead ministry for trade policy 
formulation.  Several other ministries and government agencies are also involved, in their respective 
areas. Overall economic and t rade policy objectives are laid down in five -year development plans, 
of which the latest on e covers the period 2017 –21. Key objectives include the diversification of the 
economy, an improvement of the business climate , and increased participation in international and 
regional markets.  
7. Suriname  is a member of the Caribbean Community and Common Ma rket (CARICOM)  since 
1995. Trade policies defined in the context of CARICOM provide guidance to those  pursued by 
Suriname  with respect to economic integration, cooperation, and the coordination of positions in 
trade negotiations. Under the CARICOM Agreemen t, Suriname grants duty -free treatment to imports 
from its member countries. However, only a small share of Suriname's exports goes to CARICOM 
countries. Through agreements concluded by CARICOM, Suriname also grants preferential treatment 
to imports from C uba, the Dominican Republic, and the European Union. As the Economic Partnership 
Agreement with the European Union has not yet been ratified, a provisional EPA is used in practice.  
8. Suriname  grants at least MFN treatment to all its trading partners.  It has not been involved 
in any WTO dispute settlement cases. Since 2013, Suriname  submitted three notifications to the 
WTO, on technical regulations, its commitments under the Trade Facilitation Agreement, and the 
modification of its goods schedule . Numerous not ifications remain outstanding. Suriname remains a 
non-resident Member, handling WTO matters through its mission in Paris.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  9. Rules and various fiscal incentives for investment are laid down in the Investment Law, 2001. 
A new Investment Law has been under prep aration since 2004, but it had not been adopted as at 
early 2019. It has been observed that the overall investment regime, and the approval of foreign 
direct investment in particular, may be discretionary, leading to unpredictability and associated risks 
of favouritism and lack of transparency. The Investment Development Corporation of Suriname, 
established in 2013 to promote investment, was closed. Under a State Decree of March 2017, 
Suriname is establishing a new public institution, Invest Sur, which will be responsible for facilitating 
investment projects.  
10. All commercial importers and exporters must be registered with the Chamber of Commerce 
and Industry of Suriname and the Customs and Excise Department. The involvement of a customs 
broker is mandatory. S ince 2015, ASYCUDA World has been applied for customs clearance. Some 
50% of consignments are physically inspected. The average time to import is reported to be two to 
three  days. Suriname joined the World Customs Organization in November 2018. Its legislation on 
customs valuation is based on the WTO's Customs Valuation Agreem ent. Suriname has not yet 
ratified the Trade Facilitation Agreement (TFA), but it submitted its Category A commitments under 
the TFA in November 2015; it has also established a National Trade Facilitation Committee.  
11. Suriname adopted the CARICOM common exte rnal tariff with few exceptions. The applied MFN 
tariff remained unchanged since the last TPR, with rates ranging from zero to 50% and an average 
rate of around 11.4% (19.5% on agricultural products, and 9.8% on non -agricultural products). All 
tariff lines  are ad valorem . Five per cent  of tariff lines are duty -free; the highest rate of 50% is 
applied to only 0.5% of all tariff lines, affecting mainly alcoholic beverages. Suriname does not use 
tariff rate quotas or seasonal tariffs. Tariff exemptions and con cessions are widely used.  In addition 
to tariffs, all imports, except those originating in CARICOM countries, are subject to a consent fee 
of 1.5%, and a statistical fee of 0.5%.  
12. About 30% of Suriname's tariff in the HS2007  classification is bound. Bound rates range from 
zero to 40%, with the highest rate applying to non -agricultural products. The average bound rate is 
18.3% (19.8% for agricultural products, and 16.6% for non -agricultural products). Applied rates in 
2019 exceed bound rates for 597 tariff l ines, or 9.5% of Suriname's tariff. This occurs for many 
product categories, most importantly boilers, machinery, and technical appliances (112 tariff lines); 
edible fruits and nuts (61 lines); edible vegetables (56  lines); and live animals (32 lines). The  
application of tariffs above the bound rate is subject to a request for negotiations under 
Article  XXVIII.  
13. A turnover tax applies to most domestically -produced and imported goods and services. The 
basic rate of the tax is 10% for goods and 8% for services . A rate of 0% applies to some 50 basic -
needs products, while a rate of 25% applies to some luxury goods. On imported goods, the tax is 
levied at the border  and assessed on the basis of the c.i.f. value plus all other applicable duties . 
Suriname has been p lanning to introduce VAT for a number of years, but adoption and 
implementation of a VAT law have been delayed  so far .  
14. Suriname applies excise taxes on alcoholic and sugar -sweetened beverages, bottled water, 
and cigarettes and tobacco. According to the au thorities, taxes are applied on imported and locally -
produced goods alike. On imported goods, the tax is levied at the border.  Suriname has never 
undertaken any action related to contingency measures, and has no specific law dealing with 
anti-dumping, coun tervailing duties, or safeguard measures.  
15. Suriname maintains import prohibitions on certain  chemicals  and pesticides, and second -hand 
vehicles. Import restrictions are in place for firearms, fireworks, narcotic drugs, animals and animal 
products, and used tyres. Import licences for these products are issued free of charge.  In addition, 
certain goods, including plants and waste, are subject to certification requirements when imported.  
16. Registration requirements and customs formalities for imports of good s for commercial 
purposes also apply to exports.  Export licences are in place for certain plants and animals, firearms,  
narcotics, and logs . All exports, except those to CARICOM countries, are subject to a consent fee of 
0.1% and a statistical fee of 0.5%.  Additional taxes are applied on exports of raw and 
roughly -processed timber.  Export prohibitions are in place for certain cultural goods and chemical 
weapons. All exports are subject to physical inspection.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  17. Suriname does not provide any subsidies for expo rt purposes, and does not maintain an export 
development strategy.  There is no government -sponsored or -operated export insurance, finance or 
guarantee programme.  
18. The Suriname Standards Bureau is responsible  for developing and implementing standards 
and te chnical regulations, for certification of goods and processes, for metrology, and for 
accreditation of laboratories and testing facilities. As at February 2019, t he Bureau  had adopted 
two technical regulations and 191 standards . According to the authoritie s, all standards are based 
on international or regional standards . The legislation relating to SPS measures is set out in several 
laws. Several projects are currently underway to improve the systems supporting food and feed 
safety, and animal and plant hea lth. No specific trade concerns have been raised on Suriname's TBT 
or SPS measures.  
19. Suriname does not have a generic competition law. A competition law and a consumer 
protection law have been under preparation for many years, but no date for enactment is f oreseen. 
A price control framework is in place, on an ad hoc  basis, for a list of 11 products of primary 
necessity.  
20. The government procurement process remains ambiguous, despite a 2015 update to increase 
transparency. There is no stand -alone law on procure ment, and present rules allow for numerous 
alternatives and flexibilities. As a general rule, open tendering is required in the procurement of 
works, supplies and transport by the Government and its agencies.  Suriname is neither a party nor 
an observer to the WTO Agreement on Government Procurement.  
21. State ownership remains important in many sectors of Suriname's economy.  Partially or fully 
state-owned entities are important in oil, banking, agriculture, energy and utilities, transportation, 
and tourism. No privatization of state -owned enterprises was accomplished during the period under 
review, with the exception of the sale of  a 90% stake in the state -owned banana company through 
a public bidding process . 
22. Despite Suriname's membership of various  intellectual property rights -related agreements, 
the rules and disciplines of these agreements are yet to be fully integrated into the country's 
legislation. A draft IPR bill has been pending  for several years . Suriname's current IPR legislation 
grants pr otection for patents, copyrights, and trademarks. Its penal legislation provides for the 
prohibition of trademark counterfeits and copyright piracy.  
23. Agriculture is important to Suriname's economy; it accounts for about 17% of the economically 
active popula tion, and contributed about 9% to GDP in 2017.  The majority of farms are small -scale. 
Crops represent over three  quarters of the total value of production, and rice, roots and vegetables 
are the most important commodities. The value of livestock production  declined by nearly 50% since 
2012. Agricultural exports are concentrated on bananas and rice, while imports are dominated by 
frozen chicken meat and food preparations. Agricultural policy objectives include reducing imports, 
increasing exports, developing  the food processing industry, and improving productivity and 
infrastructure. Suriname has never made any notification on domestic support to the WTO.  
24. Fisheries contributed 3.6% to GDP in 2017. The Government's general policy objective for the 
fisheries se ctor is to preserve the biological diversity of marine resources and ensure their 
sustainable exploitation.  All commercial fishing activities require a licence. Industrial vessels must 
have a Vessel Monitoring System. Forestry  production grew considerably during the review period, 
mainly due to increased exports to Asian countries.  
25. Mining and quarrying accounted for about 6.5% of GDP in 2017. Most of the employed are 
small -scale gold miners. While bauxite mining stopped in 2015 and the refinery was closed, the 
production of gold and mineral fuels increased strongly. Gold and mineral fuels now make up 
Suriname's most important export products. Income derived from mining represents nearly one third 
of total government revenue.  
26. Suriname's manufacturing sector,  which  is dominated by food and wood processing and 
refining activities, contributes about 15% to GDP. Poor infrastructure, burdensome procedures, and 
a lack of economies of scale contribute to the high costs of doing business and explain the relatively 
low degree of diversification.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  27. Services is the main economic activity in Suriname, with an average contribution to GDP of  
around 55% . Around two  thirds of the workforce is employed in various services sectors . Suriname's  
services trade balance has been consistently negative . 
28. Financial activities in Suriname are governed by the Bank Law , 1956, which establishes the 
Central Bank of Suriname as the sole supervisor of the banking and credit system. There are 
nine active banks , of which three are fully state -owned, and 12  insurance companies. In 2014, 
Suriname adopt ed a Capital Market Law, which establishes rules for the  development of the capital 
market. Suriname did not schedule or liberalize any of its financial services at the WTO.  
29. The Telecommunications Act , 2007 provide s the legislative basis for the regulation of the 
market through Telecommunicatie Autoriteit Suriname . Licences for telecommunications services 
may be granted only to enterprises legally incorporated in Suri name. Mobile telephony  and Internet 
subscriptions saw  steady growth during the period under review . Suriname scheduled several 
telecommunications commitments under the GATS.   
30. Suriname's main maritime port handles some 100 ,000 TEU annually. Expanding port 
capacities is a major target of the current development plan.  The most immediate challenge remains 
the enlargement of the Surinam e River and subsequent increased accessibility for larger Panamax 
ships and oil tankers.  Civil aviation is legis lated in the Civil Aviation Safety and Security Act , 2002.  
The main airline , Surinam e Airways , is state -owned. Land transport plays only a limited role for 
international trade.  
31. The number of tourists visiting Suriname grew steadily. With a view to promoti ng tourism, 
Suriname simplified visa requirements and procedures for tourists. In 2017, the Government also 
published a National Strategic Tourism Plan 2018 –30, aimed at developing tourism as a priority 
industry for the coming 20 to 30 years.  
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  1  ECONOMIC ENVIRONMENT  
1.1  Main Features of the Economy  
1.1.  Suriname encompasses a landmass of 163,830 km2, making it the smallest sovereign state in 
South America. With an estimated population of 583,000 in 2017, it  is by far one of the least densely 
populated countries in the world . Annual population growth has declined from about 1.9% in 1990 
to 0.9% today. Ninety per cent of the population live s in the capital, Paramaribo , or the coast al area .  
1.2.  Suriname's economy faces fiscal, monetary, and structural vulnerabilities and challenges. Poor 
infrastructure, heavy dependence on the mineral sector, burdensome procedures, a large backlog in 
adopting crucial legislation, and a lac k of economies of scale contribute to the high cost of doing 
business, and a relatively undiversified economy.  
1.3.  The Suriname dollar (SRD) is the national currency. However, the economy is strongly 
U.S.-dollarized, mainly due to past experience with high in flation. Deposits in foreign currencies 
(mostly in U.S. dollars) remain high (about 50% of total deposits in 2018); in addition, foreign 
currency loans account for about 40% of total loans.  
1.4.  Suriname's Central Bank is not independent. Pursuant to the Centr al Bank Law, its President 
is bound to decisions taken by the Government, and may be dismissed in case of non -obedience. 
Price stability, defined as low single -digit inflation, is the primary monetary policy objective.  
1.5.  Suriname's Human Development Index va lue for 2017 was 0.72 - which puts the country in 
the high category - positioning it at 100 out of 189 countries and territories. Life expectancy at birth 
is now some 71.5 years (74.9 for women and 68.4 for men).  
1.6.  Services constitute the main economic sect or in Suriname, accounting for about 60% of GDP; 
transport, communication, and domestic and retail trade are the dominant services activities 
(Table  1.1). The mining sector contributes about 6% to 8% to GDP, but over 70% to merchandise 
exports. Manufacturi ng is dominated by food and wood processing and refining activities. Despite its 
minor share in the national output, agriculture, including fishery, remains important, particularly for 
employment.  
Table 1.1 Economic indicators, 2013 -18 
 
2013  2014  2015a 2016a 2017a 2018b 
Gross domestic product (GDP)        
Current GDP at market prices (SRD million)  16,981  17,294  16,357  19,720  22,978  29,857  
Current GDP at market prices (USD million)  5,146  5,241  4,787  3,166  3,069  3,998  
Real GDP growth rate (%, based on 2007 prices)  2.9 0.3 -3.4 -5.6 1.7 2.7 
Gross national income (GNI) per capita (SRD)  30,063  30,535  28,753  32,320  33,476  .. 
GNI per capita (USD)  9,110  9,253  8,416  5,189  4,471  .. 
Distribution by economic activity  (% of current GDP at market prices)  
Agriculture, hunting and forestry  5.5 5.6 5.7 6.8 8.8 4.6 
Fishery  3.0 3.6 3.4 2.9 3.6 2.7 
Mining and quarrying  5.6 4.5 3.1 5.4 6.5 7.9 
Manufacturing  18.8 16.4 9.9 13.3 14.6 15.8 
Electricity, gas and water supply  2.0 2.0 3.2 3.6 2.7 3.3 
Construction  5.9 7.3 9.1 7.9 8.4 8.2 
Wholesale and retail trade  18.7 18.8 18.3 13.9 11.7 11.8 
Hotels and restaurants  3.2 3.4 4.2 4.3 3.8 4.2 
Transport, storage and communication  7.4 10.1 10.8 11.6 11.7 14.2 
Financial intermediaries  5.9 4.3 4.6 6.5 4.8 6.8 
Real estate, renting and business activities  3.1 3.4 4.1 5.2 5.6 5.0 
Education  0.1 0.1 0.1 0.0 0.1 0.0 
Health and social work  0.7 0.7 0.7 0.5 0.4 0.4 
Other community, social and personal services  0.7 0.7 0.8 0.7 0.7 0.6 
Public sector  11.0 11.2 12.3 10.8 10.3 10.0 
Prices and interest rates        
Consumer price index (CPI) (end of period, base April -
June 2016)  60.3 62.6 78.4 119.4  130.5  137.6  
CPI (% change against same month of previous 
period, end of period)  0.6 3.9 25.1 52.4 9.2 5.4 
Average deposit rate (%)  7.2 7.4 7.7 8.5 9.1 9.2 
Average lending rate (%)  12 12.5 13.4 14.1 14.3 14.3 WT/TPR/S/ 391/Rev.1  • Suriname  
 
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2013  2014  2015a 2016a 2017a 2018b 
Stock of net foreign assets in the Central Bank (SRD 
million)  2,225  1,672  379 1,140  511 1,421  
Exchange rate        
National currency per USD  3.30 3.30 3.42 6.23 7.49 7.47 
Fiscal policyc (% of current GDP at market prices)  
Revenues  23.3 21.7 20.8 17.3 22.2 .. 
 Tax revenues  18.5 16.5 16.6 12.9 15.5 .. 
 Direct taxes  9.9 8.4 6.8 6.2 8.9 .. 
 Indirect taxes  8.5 8.1 9.8 6.6 6.6 .. 
 Non-tax revenues  4.9 5.2 4.2 4.4 6.7 .. 
 Grants  0.0 0.0 0.0 0.0 0.0 .. 
Expenditures  27.8 26.4 30.6 26.7 29.6 .. 
 Current expenditures  23.4 21.2 27.9 23.9 25.9 .. 
 Wages and salaries  8.4 7.9 9.4 8.1 8.4 .. 
 Goods and services  4.0 3.5 7.8 5.5 4.9 .. 
 Subsidies and transfers  9.7 8.9 9.3 8.4 9.6 .. 
 Interest  1.3 0.9 1.5 1.9 3.0 .. 
 Capital expenditures  4.5 5.2 2.7 2.8 3.7 .. 
Surplus (+)/deficit ( -) current balance  -0.1 0.5 -7.2 -6.6 -3.7 .. 
Surplus (+)/deficit ( -) primary balance  -3.2 -3.8 -8.3 -7.5 -4.4 .. 
Surplus (+)/deficit ( -) overall balance  -4.5 -4.7 -9.8 -9.4 -7.4 .. 
Statistical discrepancy  -1.5 -1.2 -0.9 -1.8 -1.3 .. 
Financing  6.0 5.9 10.7 11.2 8.7 .. 
 Net acquisition ( -) financial assets  0.0 0.0 0.0 -2.4 -0.3 .. 
 External financingd 3.3 1.5 1.6 23.9 3.1 .. 
 Disbursements  3.6 2.1 2.4 29.8 4.8 .. 
  minus: amortizations  0.4 0.7 0.7 5.9 1.7 .. 
 Domestic financinge 2.8 4.4 9.1 -10.3 5.9 .. 
 Central Bank  2.7 1.0 10.5 -2.0 2.3 .. 
 Other depository corporations  0.5 3.4 -2.0 2.1 3.8 .. 
 Other financial corporations  0.1 0.0 0.1 0.1 -0.1 .. 
 Non-financial corporations  -0.5 -0.1 0.5 -10.5 0.0 .. 
Overall balance  -5.4 -7.4 -8.6 -6.3 -6.7 .. 
Memorandum        
Population ('000 persons)  550.2  558.8  567.3  575.8  583.4  .. 
Labour force ('000 persons)  150.9  153.4  147.1  148.0  .. .. 
Unemployment rate (%)  6.6 5.5 7.2 9.7 .. .. 
Gross external debt (USD million)  1,843  2,098  2,549  2,961  3,126  3,486  
Gross external debt (% of GDP)  35.8 40.0 53.2 93.5 101.9  87.2 
.. Not available.  
a Preliminary data.  
b Previsions for 2018.  
c Actual receipts and payments of the Government on a cash basis during the reporting period.  
d Data from the Debt Management Office and the Ministry of Finance.  
e Data from the balance sheets of the Central Bank, other depository corporations and the Minis try of 
Finance.  
Source:  Central Bank, General Bureau of Statistics, and IMF International Financial Statistics (IFS).  
1.2  Recent Economic Developments  
1.7.  Since its last TPR in 2013, Suriname's economic performance has been disappointing and highly 
volatile, with annual gro wth rates fluctuating between -5.6% and + 2.9%. GDP fluctuations were 
essentially triggered by significant commodity terms of trade and internal shocks , and were 
exacerbated by insufficient buffers and policy responses. The 2015 and 2016 downturn was markedly 
aggravated by the halting of aluminium refinery operations in November 2015 and the permanent 
closure of bauxite mines in 2016 by Suralco, Suriname's main private sector employer. The recovery 
of commodity prices and the launch of a major gold  mine in late 2016 helped GDP growth to recover 
in 2017 and 2018.  
1.8.  Inflation accelerated after 2012 and peaked in late 2016, at a monthly maximum of about 
60.0% and an annual average of 52.4% , but declined to less than 6.0% in 2018. The strong 
devaluation o f the Suriname dollar played an important part in pushing up the annual inflation rate 
in 2016. Both lending and deposit rates increased during the period under review, from 12.0% to 
14.3% and from 7.2% to 9.1%, respectively.  
1.9.  In 2016, the Central Bank swit ched its nominal anchor from the exchange rate to the monetary 
base. Reserve requirements are the main policy instrument. The authorities indicated that Central WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Bank interventions in the foreign exchange market remain limited, and are effectuated only to 
mitigate excessive volatility. The reserve ratio for domestic liabilities stands at 35%  (up from 25% 
in 2012) , while the ratio for foreign currency liabilities is 50%  (up from 40% in 2012). Various 
exceptions are applicable to both liabilities. Since the in troduction of reserve requirements in 2012, 
ratios were increased twice, in 2013 and 2015.  
1.10.   Fiscal deficits were high during the period under review; as a consequence, p ublic debt levels 
increased strongly, from 32 % of GDP in 2013 to some 80 % today. Per cap ita GNI is now an estimated 
USD 4,470, compared to US D 8,800 in 2012. In the wake of the severe crisis of 2015 and 2016, 
unemployment rates increased strongly, to 9.7% in 2017, but fell to under 8.0% in 2018.  
1.11.   Suriname's current account deficit increased st rongly between 2013 and 2015, when it 
decreased to 16.2% of GDP ( Table 1. 2). It fell in 2016 and 2017, mainly due to sharply falling 
imports, improved terms of trade, and recovering exports, but increased again during the 
first three  quarters of 2018. Suriname's gross international reserves fell from USD 775 million 
in 2013 to USD 330 million in 2015, before increasing again, to USD 581 million in 2018.  
Table 1.2 Balance of payments, 2013 -18 
(USD million)   
2013  2014  2015  2016  2017a 2018
Q3a 
A. Current account  -196 -416 -786 -170 -2 -72 
1. Balance on goods  243 133 -376 187 672 356 
 Exports  2,416  2,145  1,652  1,439  2,035  1,536  
 Imports  -2,174  -2,012  -2,028  -1,252  -1,363  -1,180  
2. Balance on services  -374 -550 -463 -283 -317 -247 
 Credit  179 211 204 187 161 129 
 Transportation  31 38 39 33 41 31 
 Other  148 173 165 154 120 98 
 Debit  -552 -761 -667 -469 -477 -375 
 Transportation  -98 -89 -80 -44 -53 -49 
 Other  -454 -672 -587 -426 -424 -325 
3. Balance on income  -131 -70 -13 -176 -457 -259 
 Credit  27 22 15 21 28 25 
 Debit  -158 -92 -28 -196 -484 -284 
4. Balance on current transfers  67 71 65 102 100 79 
 Credit  153 151 139 162 155 123 
 Debit  -87 -80 -74 -60 -56 -44 
B. Capital account  0 0 1 19 0 -0.4 
 Credit  0 0 1 19 0 0.2 
 Debit  0 -1 0 0 0 -0.7 
C. Financial account  430 697 770 492 175 274 
1. Direct investment  188 164 267 309 161 125 
2. Portfolio investment assets  -1 1 -10 -42 -27 -44 
3. Portfolio investment liabilities  0 0 0 550 0  
4. Other investment assets  36 56 78 -221 -14 -102 
5. Other investment liabilities  208 476 434 -104 55 294 
D. Net errors and omissions  -383 -430 -250 -262 -152 -86 
E. Financing items  149 150 266 -79 -22 -116 
Memorandum item        
Current account (as % of GDP)  -3.8 -7.8 -16.2 -5.3 -0.1 .. 
Gross international reserves (USD million)  775 625 330 381 424 581 
Gross international reserves (in months of imports 
of goods and services)  3.4 2.7 1.5 2.7 2.8 3.1 
.. Not available.  
a Preliminary data.  
Source:  Central Bank.  
1.12.   Economic forecasts expect real GDP growth to slowly rise to over 2% over the medium term, 
as the non -mining economy picks up.1 Inflation is expected to fall to below 7% in 2019. The fiscal 
deficit is  expected to fall to about 6% of GDP over the medium term, while public debt from 2019 
onwards is expected to resume its upward trajectory, underscoring the concerns of lacking fiscal 
                                                
1 Suriname 2018 Article IV Consultation, IMF Country Report No. 18/376.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  sustainability. The slow pace of reforms and a recent step -up in current  public expenditures have 
the potential to worsen the fiscal situation in 2019 -20. Hence, tighter global financial conditions 
represent a major downside risk to growth.  
1.3  Developments in Trade and Investment  
1.3.1   Trends and patterns in merchandise and services t rade 
1.13.   Both merchandise exports and imports contracted strongly during the period under review. 
Total merchandise exports declined from USD 2.4 billion in 2012 to slightly over USD 1.2 billion 
in 2016, before rebounding to USD 1.4 billion in 2017. Merchandis e imports peaked in 2013, at 
USD 2.3 billion, but fell to about USD 1.2 billion in 2016 and 2017.  
1.14.   Gold and fuel are Suriname's main export products (Table A1.1 and Chart 1.1). Both products 
together make up between 80% and 90% of all merchandise exports. B auxite and aluminium, the 
most important export goods in 2006, are no longer produced due to the closure of the main mine 
in 2016.  
1.15.   Switzerland; the European Union; and Hong Kong, China are currently the most important 
destinations for Suriname's exports ( Table A1.3 and Chart 1.2). However, against the background 
of strongly declining export values, the rising share of individual trading partners may conceal 
stagnant or even falling absolute values. In line with declining aluminium exports, the shares of th e 
United States and the United Arab Emirates fell strongly. Only a small share of exports goes to 
CARICOM countries, of which Guyana and Trinidad and Tobago are the most important destinations. 
Except for neighbouring Guyana, Suriname's exports to other So uth American countries are limited.  
1.16.   Suriname's imports are dominated by machinery, mineral fuels, and prepared foodstuffs 
(Table  A1.2 and Chart 1.1). The United States, the European Union and Trinidad and Tobago are 
Suriname's most important sources of imp orts (Table A1.4 and Chart 1.2). While the share of 
Trinidad and Tobago fell, from over 18% in 2012 to less than 10% in 2017, the shares of the 
United  States and China increased during the same period.  
1.3.2   Trends and patterns in FDI  
1.17.   FDI plays an important role in Suriname's capital formation; annual inflows exceeded 
USD 300 million in 2016, but fell in 2017 (Table 1.3). The authorities indicated that mining activities 
attract most of the foreign investment.  
1.18.   Suriname's outward investment is negligi ble. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Chart 1.1 Merchandise trade by main HS sections, 2013 and 2017  
 
Source:  Based on the previous Secretariat Report and national trade statistics, the Secretariat believes that a 
large share of exports classified as "Others" actually are gold exports. This assessment may be 
validated by the share of HS Chapter 71 shown for 2017 (73.2%, up from zero the previous years).  
Chart 1.1
Merchandise trade by main HS sections, 2013 and 2017
2013 2017
(a)    Exports and re -exports
Total: USD 2,204 million
(b)    Imports
Total: USD 2,308 million Total: USD 1,209 million
Source:   UNSD, Comtrade database.Total: USD 1,441 millionMachinery & electrical 
equipment
0.8%
Other
86.2%Other
6.7%
Chemical 
products
7.2%Mineral 
products
9.8%
Prepared 
foodstuffs, 
beverages & 
tobacco
6.6%
Base 
metals
7.3%Mineral 
products
23.2%
Plastics
4.4%Machinery & 
electrical 
equipment
29.1%Other
11.6%
Chemical 
products
10.6%
Base 
metals
7.5%Machinery & 
electrical 
equipment
26.5%Other
14.2%
Mineral 
products
12.8%
Plastics
6.9%Mineral 
products
8.4%
Wood & art.
0.9%Chemical 
products
0.4%Chemical products
0.3%
Pearls, precious 
stones & metals
73.2%
Vehicles & 
transport 
equipment
8.1%Vehicles & 
transport 
equipment
8.9%Vegetable 
products
1.9%Vegetable 
products
2.2%
Wood & art.
4.0%
Pulp of 
wood, paper
2.4%Pulp of 
wood, paper
2.5%Prepared 
foodstuffs, 
beverages & 
tobacco
10.1%Prepared 
foodstuffs
1.5%Prepared 
foodstuffs
2.4%
Machinery & electrical 
equipment
1.2%WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Chart 1.2 Merchandise trade by main origin and destination, 2013 and 2017  
 
Source:  UNSD Comtrade database.  
Table 1.3 Foreign direct investment in Suriname, 2014 -17 
(USD million and %)  
 2014  2015  2016  2017  
Inward flows  164 267 309 161 
FDI stock  1,207  1,477  1,783  1,987  
Source:  Suriname authorities.  
 
Chart1.2
Merchandise trade by main origin ad destination, 2013 and 2017
2013 2017
(a)    Exports and re -exports
Total: USD 2,204 million
(b)    Imports
Total: USD 2,308 million Total: USD 1,209 million
Source:   UNSD Comtrade database.Total: USD 1,441 millionTrinidad & Tobago
1.7%Others
0.8%
United States
11.1%
EU (28)
12.0%
Other 
Americas
4.7%
United States
20.1%Americas
17.2%United 
States
1.9%
Other Americas
2.8%
China
1.0%Others
4.2%
Other Asia
3.5%
Americas
28.9%Other 
Asia
0.7%
Trinidad & 
Tobago
17.5%
Other Americas
18.5%Japan
2.5%
EU (28)
27.3%China
5.0%Other 
Asia
4.2%Others
0.6%
Trinidad & 
Tobago
9.7%United 
States
31.8%
Other 
Americas
11.3%EU (28)
22.1%Japan
2.8%
China
8.6%Other 
Asia
5.8%Others
1.7%
Americas
60.2%Americas
57.8%Other Europe
0.3%
Other Europe
1.3%Asia
11.7%Asia
17.1%Other 
Europe
0.4%Hong Kong, 
China
22.5%
EU (28)
12.1%Guyana
8.0%
Brazil
2.1%Guyana
4.4%Trinidad & Tobago
2.6%
Brazil
2.4%China
0.6%
Middle East
7.4%Europe
35.0%Asia
1.4%
Europe
44.1%Asia
27.0%
Europe
23.4%Europe
27.6%Switzerland
22.4%Canada
5.2%Jamaica
1.9%Middle 
East
34.0%Canada
0.8%Jamaica
1.3%
Switzerland
32.0%
Saint Lucia
2.1%
Saint 
Lucia
2.6%WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  2  TRADE AND INVESTMENT  REGIMES  
2.1  General Framework  
2.1.  Suriname's  political system is defined as a constitutional democracy.  The Constitution of 
30 October 1987, as amended in 1992, is the supreme law of the country.1 It sets out the overall 
institutional framework for the formulation of legislation.  The mandates of gov ernment departments 
are defined in a state ordinance  issued in October 1999 , and amended in 2002  and 2010 .  
2.2.  The Executive Branch – the Government – is led by the President and i ncludes  the 
Vice-President  and the Council of Ministers.  The President is Head of State, Head of Government, 
Chairman of the State Council, and Chairman of the Security Council.  S/he is answerable to the 
National Assembly.  The Council of Ministers is the highest executive and administrative organ of the 
Government;  its tasks are  to prepare and execute government policy, prepare legislative acts and 
regulations, supervise execution of decrees under its responsibility, and give direction to 
administrative organs.  The State Council advises the Government on proposed legislation, the 
conduct of policy, and on agreements under international law, for which the consent of the National 
Assembly is required . It counts 15 members, representing all political parties that sit in the National 
Assembly, and organized labor and employers. The President and Vice -President are elected by the 
National Assembly for five years.2  
2.3.  Article 70 of the Constitution defines that legislative power is exercised jointly by the National 
Assembly and the Government. The unicameral National Assembly consists of 5 1 members, elected 
simultaneously, by popular vote and through proportional representation, for a five -year term. The 
last elections were held in 2015. The National Assembly has the power to decide over all proposals 
of law, and has the right to amend bill s proposed by the Government. It also decides by a 
two-thirds  majority on the organization of a People's Assembly or a referendum when it deems 
necessary. All bills passed by the National Assembly and approved by the President acquire force of 
law after ha ving been declared.  
2.4.  Suriname's public and administrative law comprises several additional legal instruments: 
formal laws; state decisions or decrees ( staatsbesluiten ); district regulations; Presidential decisions; 
and administrative decisions. The latter c ategory comprises Presidential resolutions, ministerial 
decisions, and decisions of other administrative agencies. A decree has the same legal weight as a 
law. Responsibility for preparation of a law rests with the ministry that deals with the subject matt er. 
Following review by the Ministry of Justice and Police, which has primary responsibility for ensuring 
the quality of legislation, and other ministries that may be concerned, the draft requires approval of 
the Council of Ministers, the State Council, an d the National Assembly. After the President ratifies 
the law, it is published in Suriname's Official Gazette.  
2.5.  To modernize and facilitate government communication, coordination and information 
exchange, several e -government projects were initiated in rece nt years. Amongst them are a 
protected government network, nation -wide broadband, e -learning platforms, one electronic 
government address (gov.sr), uniform government websites, e -ID cards, and an e -visa system. The 
latter is expected to be in place by mid -2019.  
2.6.  Taxes , including tariffs, are levied by law. Any change to the tax or tariff regimes, including  
their implementation and application, require s the assent of the National Assembly.   
2.7.  Despite a relatively well -defined and clear legislative procedure, t here is a backlog regarding 
many important trade -related laws, and adoption has been pending, sometimes for more than ten 
years. Crucial legislation, on topics such as customs procedures, foreign investment, trade 
facilitation, VAT, competition, standards,  intellectual property, and consumer protection, is at various 
stages of development but fails to be agreed upon and adopted.  
2.8.  The Court of Justice is the supreme instance of the judicial power, and is  entrusted with the 
administration of justice in Suriname.  It supervises the regular course and settlement of all lawsuits.  
As a member of CARICOM, Suriname is a party to the Agreement Establishing the Caribbean Court 
                                                
1 The rules of the Constitution of 25 November 1975, the application of which was suspended on 
13 August  1980, ceased to exist when the Constitution of 1987 became effective.  
2 The current President is serving a second term until mid -2020.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  of Justice (CCJ).  Since its inaugurati on in April 2005, the CCJ exercises both an appellate and an 
original jurisdiction.  Suriname adopted the original jurisdiction , which  only regards the interpretation 
and application of the Revised Treaty o f Chaguaramas  (RTC) . It did  not adopt the appellate  
jurisdiction, because of its civil law system. Within the appellate jurisdiction , the CCJ serves as the 
appellate court for civil and criminal matters of the member States. 
2.2  Trade Policy Formulation and Objectives  
2.9.  Suriname's development and administration of trade policies and processes did not 
fundamentally change since the previous Review. One of the principle objectives is to diversify the 
economy and increase participation in international and regional markets, while improving the 
physical market struct ure and regulatory environment. Keys to success are more traditional market 
access, the introduction of quality standards, better consumer protection, increased competition, 
and the abolition of unnecessary and burdensome government regulation3. Suriname a ims to 
become a regional hub for international trade, and to seek strategic partnerships with private and 
public entities.   
2.10.   To a large extent , trade policy formulation and its objectives are laid down in the country's 
five-year development plans (OP s). The latest one covers the period 2017 –21. These plans articulate 
the framework for development in the broadest  sense : they are s tate document s, and are national 
guideline s for the Government, the private sector, non -governmental organizations , and other socia l 
sectors.  
2.11.   Suriname 's trade policy is also formulated as part of its membership of CARICOM and WTO . 
Fuller participation and involvement in negotiations continues to be influenced by human, technical, 
and financial capacity constraints . The Ministry of Trade , Industry and Tourism (MTIT) is the lead 
ministry for trade policy formulation , in consultation with other ministries and agencies. Attempts to 
improve the capacities of the ministries involved, particularly in the M TIT, have not solved t he 
constraints problem. Suriname's involvement in multilateral trade negotiations  is support ed through 
the C ARICOM  Office of Trade Negotiations (OTN, formerly the Caribbean Regional Negotiating 
Machinery).  Suriname 's trade policy is also influenced by exis ting trade arrangements with the 
European Union  and some countries in the Americas.  
2.12.   The ministries most directly involved in trade policy formulation are Foreign Affairs, 
Agriculture, Animal Husbandry and Fisheries, and Finance. The MTIT manages , monitor s and 
coordinat es Suriname 's external trade relations , is responsible for an enabling export environment , 
and has other functions such as the dissemination of information . Following a re -organization in 
February 2017, the Ministry of Trade and Industry now also deals with tourism. Since then, the 
Ministry set up several working groups that focus on tourism policy formulation. The policy strives 
to increase the sector's contribution to Suriname's welfare and quality of life at national and local 
levels, with a strong focus on delivering high -quality and renewable service.  
2.13.   As announced in the  OP for 2012-16, the MTIT expanded its activities  to include c onsumer 
protection, development of a national competition policy, improvement of the policy on registration 
of standards, promotion of small and medium enterprise interests, and improvement of the business 
climate to ensure a better ranking on the World Bank 's Ease of Doing Business list ( currently 
165th out of 1 90, so no real change compared to 20 13).4 Some of these objectives recur in 
OP 2017-21, because the process of enacting the laws needed to implement the objectives is still 
ongoing. According to the authorities, slow decision -making and insufficient departmental policy 
coordination are a maj or impediments.  
2.14.   The Ministry of Foreign Affairs also plays a role in trade policy formulation , but focuses  
primarily on the political and diplomatic elements of Suriname 's various trade agreements.  It is the 
only ministry that has permanent representation abroad , with embassies, permanent missions 
and/or consulates in  several countries .  
2.15.   The Ministry of Agriculture, Animal Husbandry and Fisheries is involved in the formulation of 
trade policy concerning agricultural products. It coordinates with the Ministr y of Health on sanitary 
and phytosanitary measures. It also remains in close contact with various state-owned enterprises 
                                                
3 Ontwikkelingspl an 2017 –21, pp. 62 –63. 
4 World Bank (2019).  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  in the agriculture sector and in the international marketing of rice and bananas. The Ministry provides 
binding advice to the MTIT on the issue of licences and certificates for the import and export of 
animals, plants, fish, and products and parts thereof.  
2.16.   The MTIT coordinates with the Ministry of Finance on most , if not all , trade matters. The 
Ministry of Finance is direct ly involve d in trade and investment matters through its Directorate of 
Taxation, which is divided  into direct and indirect taxes. Customs (which is under the Ministry of 
Finance) is responsible for the enfor cement of customs legislation, cross -border movements, the 
implementation of the Harmonized System  for classifying goods , customs valuation procedures, and 
rules of origin. The MTI T sets out relevant policies, which are implemented by t he Customs 
Departmen t.  
2.17.   The Central Bank of Suriname is responsible for monetary policy and bank supervision. It 
works closely with the Ministry of Finance and the MTIT on trade and investment policy, on which 
the Central Bank advises on fiscal incentives, export financing, b alance -of-payment analysis, and 
assessment of the potential impact of revenue loss resulting from the phase -out of preferential 
arrangements.  
2.18.   The National Planning Office is charged with the formulation of the OPs and the annual public -
sector investment p lans. It provides a factual , and mostly financial , annual assessment of the 
realization of the OP targets per ministry and policy field. These assessments monitor the execution 
of policy objectives formulated in the OPs. The authorities indicated that, des pite a mandate and 
available resources, the influence and effect of these evaluations have had limited effect on the 
formulation of future OPs. No such evaluation is available for the 2012 –16 OP.  
2.19.   The Government, in its trade policy formulation, consults and coordinates with many private 
sector bodies. The Chamber of Commerce and Industry (KKF) is the only private body, under public 
law, entrusted with the  provision of trade information and the representation of industry interests. 
In accordance with the Trade Register Law, it maintain s the trade register, which contains specific 
information on most commercial organizations . Other private sector organizations relevant to trade 
and investment matt ers include the Suriname Business Forum  (SBF) ; the Association for Small and 
Medium Enterprises; the Association of Engineering Firms; the General Contractors Association; the 
NGO Forum; the Suriname Manufacturers Association; the Suriname Trade and Indust ry Association; 
the Women's Business Group Foundation; the Association of Rice Producers and Exporters of 
Suriname; the Consumers Organization; and the American Chamber of Commerce in Suriname.  
2.20.   Given the large number of parties involved in coordinating tra de and economic affairs , 
Suriname established the SBF in 2007.  
2.21.   The SBF is a platform for dialogue for the public -private sector, with representatives from the 
MTIT, the Ministry of Finance, the Association for Surinamese Affairs (VSB), the Surinamese 
Manu facturers Association (ASFA) , and the KKF. Original  stakeholders  include  the Ministries of 
Justice and Police and Agriculture, Animal Husbandry and Fisheries, Women in Business in Suriname 
(WBS), the Council for Trade Unions in Suriname (RAVAKSUR) , and the  Anton de Kom University of 
Suriname (AdeKUS). The SBF meets regularly , and formulated a national strategy for the 
development of a sustainable domestic private sector. At the time of the previous Review, it was 
noted that the SBF faced p ersistent budgetar y and resource problems, preventing it from functioning 
effectively.  According to the authorities, this situation has not changed.  
2.22.   In the OP for the period 2017 –21, part of Suriname's trade policy objectives is clearly taking 
a new direction, moving away from controlling its markets to establishing the conditions to benefit 
more from trade, and to make the market more efficient, acces sible and predictable for local, 
regional and international traders and investors.  
2.23.   Local markets are considered key to the economic development of Suriname. More efficient 
functioning , and better design and regulation are expected to stimulate national pr oduction, 
innovation and diversification among producers. By starting local ly and national ly, Suriname expects 
its entrepreneurs to be better prepared for regional and international markets.  
2.24.   The Government believes this approach will result in fairer and more stable consumer prices 
and a more sustainable consumption and production pattern. Aside from reformed and stronger WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  government institutions and organizations that regulate and oversee local markets, better consumer 
and producer protection is considered  indispensable.  
2.25.   Suriname also wants to stimulate the use of domestic products for export -oriented production, 
particularly for primary and related industrial products. To do so, the Government intends to seek 
out, or support, through capacity building:  
• companies that will use local inputs for export or international products;  
• facilitate and, where necessary, compensate for the use of local inputs instead of imported 
ones;  
• improved production capacity and quality of local producers;  
• improved local market in telligence and information;  
• infrastructure incentives; and  
• a modern system of intellectual property rights.  
2.26.   More detailed long -term goals, measures and plans have not yet been developed in full , but 
some of the tools that the Government is considering using to empower and support entrepreneurs 
are credit guarantee funds, loan facilitation and monitoring , and providing micro -credit.  
2.27.   Suriname's market improvements and its strategy for the strengthening and diversification of 
its industrial base are to be conc entrated on production clusters and priority sectors. These clusters 
are identified based on their potential for GDP growth, employment creation, regional spread, 
sustainability, international growth and knowledge development, food safety, or environmental  
impact.  
2.28.   Aside from clusters in the traditional economic and wealth -creating sectors, such as mining, 
agriculture and forestry, many new ones have been earmarked for capacity development and 
support. These are:  
• palm-oil, coconut, cassava and cocoa producti on; 
• pineapple and acai berry production;  
• aquaculture, in particular fish, shrimp and ornamental fish;  
• processing of wood by -products and waste;  
• environmental use and repair of forests;  
• food, drink and chemical industry;  
• regional transit of goods; and  
• tourism and creative industries.  
2.3  Trade Agreements and Arrangements  
2.3.1   WTO  
2.29.   Suriname is a contracting party to the GATT since 25 February 1978 , and is an original 
Member of the WTO. It grants at least MFN treatment to all its trading partners.  
2.30.   This is the thir d review of Suriname's trade policies by the Trade Policy Review Body. The 
first two reviews were in 2004 and 2013.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  2.31.   Suriname did not participate in the post -Uruguay Round negotiations on financial services or 
telecommunications, but made commitments on basic telecommunications in 1998 .5 In 2005, it 
made an offer during the Doha Development Agenda ( DDA) negotiations, covering insurance and 
retrocession services .6 Suriname has not joined any of the plurilateral agreements at WTO; it is not 
a participant in the WTO Information Technology Agreements I and II.  
2.32.   During the review period, Suriname submitted three  notifications:  
• G/TBT/N/SUR/1 of 5 June 2015, notifying the TBT Committee of a technical regulation 
establishing minimum requirements for  the basic hygiene and food safety of bread and 
banquet producers;  
• WT/PCTF/N/SUR/1 of 30 November 2015, notifying the Preparatory Committee on Trade 
Facilitation of Suriname's Category A commitments; and  
• G/MA/336 of 10 August 2017, notifying the Committee on Market Access that Suriname 
reserves its rights under Article XXVIII:5 of the GATT 1994 to modify its Schedule LXXIV, 
in accordance with the provisions of that Article, during the three -year period commencing 
1 January 2018.  
2.33.   Suriname has not yet ratifie d the Trade Facilitation Agreement, nor has it accepted the 
amendment of the TRIPS Agreement on patents and public health. The latter is a permanent waiver 
that makes it easier for poorer countries to obtain cheaper generic versions of patented medicines. 
According to the authorities, consultations to accept the TRIPs amendment are still ongoing.  
2.34.   Suriname was not involved in any dispute at WTO as a complainant or as a respondent. It 
was a third party in the EC -Bananas III  case.7 
2.3.2   Regional and preferential ag reements  
2.35.   Suriname  is a member of the Caribbean Community and Common Market (CARICOM). Trade 
policies defined in the context of CARICOM provide guidance to those  pursued by Suriname  with 
respect to economic integration, cooperation (aimed at creating econom ies of scale and sharing the 
costs of provision of public goods), and the coordination of positions in trade negotiations.  
2.36.   The RTC, signed in the Bahamas in 2001, established the CARICOM Single Market and 
Economy (CSME).  It aims to create a single market and economy among CARICOM member States 
through the removal of barriers to the free movement of people, capital, goods and services, and 
the establishment of companies. The f irst component of the CSME – single market – has been 
implemented by all member St ates. The second component  - the single economy  - was scheduled 
for 2016, but has so far been postponed for  administrative, fiscal and legal reasons .  
2.37.   CARICOM members apply the Common External Tariff (CET) , whereby goods entering any 
member country face the same tariff rate. Exceptions to the CET are permitted for certain products 
of particular sensitivity to a CARICOM member. Thus, a wide range of applied tariff rates continue 
to exist across member countries. The RTC generally prohibits the application of  import licensing 
requirements on goods of Community origin, except where required for SPS, technical standards, 
monitoring or other similar purposes.  
2.38.   CARICOM has signed trade agreements with Venezuela (1992), Colombia (1994), 
Dominican  Republic (1998), a nd Costa Rica (2004), and a trade and economic cooperation 
agreement with Cuba (2000).8 Not all of them have been notified to the WTO , because, according 
to the authorities, they have not yet been ratified .  
2.39.   Suriname's membership of CARICOM is evaluated by the  Permanent Committee of Foreign 
Affairs of the National Assembly and the Ministry of Foreign Affairs. According to the authorities, 
                                                
5 WTO document GATS/SC/80/Suppl.1, 27 January 1998 . 
6 WTO document TN/S/O/SUR/Rev.1, 28 July 2005.  
7 Dispute Settlement case DS27.  
8 For more details, see WTO document WT/TPR/S/359, 9 August 2017.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  factions of the parliamentary committee believe that Suriname is not benefitting enough from its 
membership,  and would be better off leaving. They argue that Surinamese products are often 
banned or face barriers when entering other CARICOM members' territories. However, arguments 
in favour of being a member – enlarged market and market access; economic empowerme nt; 
strengthened trade policy positions and negotiations – have so far prevailed.  
2.3.3   EU–CARIFORUM Economic Partnership Agreement  
2.40.   The Economic Partnership Agreement (EPA) between the European Union and CARIFORUM 
(CARICOM plus the Dominican Republic) was signe d, and notified to the WTO, in 2008.  The EPA 
allows for immediate duty -free and quota -free market access for all goods originating in CARIFORUM 
States, except for rice and sugar, which both had a phase -in period with a regional tariff quota at 
zero duty. O n 1 January 2010, customs duties and quotas on rice originating from all CARIFORUM 
States were eliminated. In 2015, all duties and quotas on sugar were removed. CARIFORUM tariff 
elimination commitments cover 87% of EU exports (90.2% of tariff lines), and a re to be implemented 
over a 25 -year period.  
2.41.   In addition to trade in goods, the EPA covers trade in services; investment; intellectual 
property; transparency in public procurement; competition; and development support. Sectors 
excluded are the processing o f nuclear material; trade in arms; audiovisual services; national 
maritime cabotage; and air traffic rights. Annex IV F to the Agreement lists limitations to market 
access and national treatment for trade in services. Suriname applies the EPA provisionally , pending 
ratification. According to the authorities, ratification is expected by July 2019.  
2.42.   In 2013, Suriname became an associate member of Mercosur. Associate members receive 
tariff reductions when trading with full members but do not enjoy full voting rights or free access to 
markets.  To become a full member, Suriname must first join ALADI, the Latin -American Integration 
Association.  
2.4  Investment Regime  
2.43.   Suriname's investment regime did not change since the previous Review, and a revision of its 
2001 Investment Law is still pending. According to some observers, the overall regime, and more 
particularly the approval of foreign direct investment (FDI), may be discretionary rather than rules -
based, leading to heightened unpredictability and uncertainty, a nd associated risks of favouritism 
and corruption. The Government is working with the World Bank to update its investment policy 
framework9, and decided to establish an investment agency , the Institute for the Promotion of 
Investment in Suriname  (InvestSur ), as originally foreseen in the 2001 Law.  
2.44.   Under t he 2001 Investment Law, the Minister of Finance can  grant various types of incentives 
in respect of both new investments and the expansion or replacement of existing ones. These 
incentives are mostly of a fiscal nature, and have not been changed or updated since the last Review:  
• free depreciation of capital expenditures, at the discretion of the investor, if the value of 
the investment is at least USD 5,000;  
• deduction from taxable profit of an assumed inter est if capital expenditures are financed 
by liquid funds owned by the investor.  If the investment is at least US D 100,000 and the 
investor does not make use of the possibility of free depreciation, the rate of deduction is 
6%; if, in addition, the investme nt concerns a capital good for a company that exports at 
least 80% of its goods and/or services, the rate is 10%.  The duration of this incentive is 
five years;  
• a deduction from taxable income of 20% of investments of at least US D 20,000 in regions 
designat ed by the Government , and of 10% in the case of investments of at least 
USD 1,000 that are in the inter est of environmental protection;  
                                                
9 U.S. Department of State 2017.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  • reduction of the tax liability of a parent company of the losses incurred by a fully -owned 
subsidiary.  This incentive may be approved for  a period of five years;  
• a 10% reduction of payroll taxes on wages, for a period of five years, in respect of new 
investments in regio ns designated by the Government;   
• provided that an enterprise has not applied for any of the above -mentioned facilities, a 
ten-year tax holiday for profits realized by investments in new enterprises that fulfil 
conditions laid down by the Government with respect to the amount of equity investe d 
and the number of  jobs created; and  
• exemption from payment of customs duties and of  turnover and statistical taxes in respect 
of the importation of capital goods worth at least US D 10,000 , or of goods worth at least 
USD 5,000 that are used in the product ion of capital goods.  
2.45.   Suriname continues to support and encourage foreign investment, to help diversify its 
economy, with a relatively open investment regime. To facilitate investors' understanding of 
Suriname's laws, procedures, regulations and reporting requirements, the Investment Law foresaw 
the establishment of InvestSur. However, it did not get established immediately; instead, the 
Government created the Investment and Development Corporation Suriname (IDCS) in April 2012.  
2.46.   The IDCS sought investments to support Suriname's sustainable and long -term economic 
development, by acting as a "one -stop shop" for investors, and guiding them through the process 
of investment regulations and obligations. It also recommended specific sectors to potential 
investors.  These included agriculture, mining, fishery, renewable energy, construction, and services. 
Specifically, it tried to attract investors through the privatization of many of Suriname's state -owned 
companies, and the creation of joint ventures.  
2.47.   The IDCS, how ever, ceased to exist in 2018, and was replaced by InvestSur, the investment 
agency originally foreseen in the Investment Law. InvestSur was officially launched on 
16 November  2018. It is not clear why the IDCS was terminated. Sources10 say that it did not deliver 
on its targets because it was never able to implement the intended privatization of Suriname's 
state-owned companies as a result of political opposition or disagreement.  
2.48.   InvestSur was established pursuant to Staatsbesluit  (State Decree) Nadere Voo rwaarden 
Faciliteiten Investeringwet  of 17 March 2017.11 According to this Decree, InvestSur can create 
standards and conditions which will be used to examine and authorize investment proposals. These 
criteria include:  
• the history and quality of the investo r; 
• the profile of the investor; and  
• the necessity of the proposed investment, according to mid - and long -term development 
plans, and sectoral and regional plans.  
2.49.   After investigating an investment proposal, InvestSur is required to  present its conclusions 
and recommendations to the Government, and make them publicly available, to improve 
transparency and objectivity. The Government makes  the final decision  regarding the  approv al and 
accept ance of investments , by specifically considering the following criteri a: 
• employment creation and use of local labour, services, knowledge and materials;  
• economic diversification effect;  
• knowledge transfer;  
• environmental effect;  
                                                
10 United News, December 2017; Dagblad Suriname, November 2018.  
11 S.B. 2017, No. 24. No electronic link was available at the time of writing the report.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  • no government guarantees sought;  
• geographical spread or effect;  
• fiscal effects; and  
• regional effec ts (hub function of Suriname).  
2.50.   Under C hapter Three of the RTC, CARICOM members are required to refrain from introducing 
new restrictions and remove existing ones  in their territories on the right of esta blishment of 
nationals of other members. A similar obligation exists for restrictions to trade in services and the 
movement of capital and current transactions. Suriname agreed to remove the following measures : 
• the requirement for prior approval of the Cou ncil of Ministers to own land that is in the 
state domain;  
• the r equirement that foreigners obtain authorization from the Foreign Exchange 
Commission to buy or sell immovable property;   
• the granting of business licences under conditions specified by the Minister of Trade, 
Industry and Tourism;  
• the r equirement that non -residents obtain permission from the Foreign Exchange 
Commission before establishing a company;  
• the legal monopoly over landline telecommunicat ions; and  
• the nationality and residency requirements in the forestry sector.  
2.51.   Suriname is a party to the Convention establishing the Multilateral Investment Guarantee 
Agency (MIGA Convention)12, but not to the Convention on the Settlement of Investment Disputes 
between States and Nationals of othe r States (ICSID Convention).  
2.52.   Suriname signed bilateral investment protection agreements with Brazil (May 2018) , 
Indonesia (October 1995), Cuba (January 1999), and the Netherlands (March 2005).  
2.53.   The World Bank's assessment on Doing Business in Suriname did n ot change over the last 
few years. For 2017, 2018 and 2019, it ranks 165th out of 190 economies on Ease of Doing Business. 
At the time of the previous Review in 2013, the country's ranking was 164th out of 185 economies. 
On Transparency International's Cor ruption Perception Index, Suriname ranked 77th in 2017, down 
from 37th in 2012.  
2.54.   All in all, the business environment remained stable but was mostly unregulated. While the 
Government supports and tries to promote a business -friendly economy, in particular t hrough 
investments, definitive steps to legislate and regulate are not taken. The absence of clear procedures 
and processes in the registration of businesses, or the application of unclear ones, led to continued 
low scores in the World Bank's rankings, and  to the conclusion that Suriname's investment and 
business climate is negatively affected by a general lack of transparency and clarity.13  
2.55.   According the World Bank, the average time taken to start a business in Suriname is 66 days, 
and the costs involved a mount to 93.4% of income per capita. Compared to the Latin American and 
Caribbean region – 28.5 days and 37.8% - Suriname scores considerably lower. The overall average 
ranking for setting up a business in Suriname is 182nd out of 190. Some of its most imm ediate 
regional competitors score much better. Jamaica ranks 6th, Guyana 97th, and the 
Dominican  Republic  117th.14 
 
                                                
12 Suriname deposited its instrument of ratification of the MIGA Convention in July 2003.  
13 U.S. Department of State 2017.  
14 World Bank (2019).  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3  TRADE POLICIES AND P RACTICES BY MEASURE  
3.1  Measures Directly Affecting Imports  
3.1.1   Customs procedures, valuation, and requirements  
3.1.  Rules on customs -related issues remain spread over numerous pieces of legislation.1 Although 
plans existed at the time of the previous Review to consolidate all these different legal instruments 
into a General Customs Act, no such legislation has yet been adopted. The authorities indicated that 
current plans are to introduce this Act in 2020.  
3.2.  All economic agents wishing to import goods for commercial purposes must be registered with 
the Chamber of Commerce and Industry (KKF). To register, an importer must submit tw o passport 
photos, a birth certificate, and a declaration of Surinamese nationality, or a permanent residency 
permit in the case of foreign nationals. Importers must also obtain a registration number from the 
Customs and Excise Department (CED), for which they must submit a copy of their registration with 
the KKF and their tax identification number issued by the Directorate of Taxation.  
3.3.  Importers must fill in the international trade transaction form for goods and services (IT form), 
and the single administr ative document (ED form). The IT form specifies the method of transport 
and the total amount of payment for the imported goods.  
3.4.  Three copies of the IT form must be submitted to the CED, together with the ED form, the 
commercial invoice, the bill of lading  or airway bill, and the packing list. In addition, one copy of the 
IT form must be submitted to the Central Bank for statistical and foreign exchange purposes. 
Electronic submission of customs documentation is possible since February 2015 . Importers must 
have the ED form stamped at the Ministry of Trade, Industry and Tourism in Paramaribo, before 
submitting it to the CED. Goods entering Suriname under CARICOM's free -trade regime must also 
be accompanied by a certificate of origin and a CARICOM invoice.  
3.5.  Suriname applies ASYCUDA World for customs clearance since 2015. The involvement of a 
customs broker is mandatory. Currently, there are 250 customs brokers in Suriname.  A training 
certificate is required to become a professional customs broker. While the cer tificate is still issued 
by the KKF, the authorities indicated that this will be handled by the Ministry of Finance in the near 
future. About 90% of imports enter the country at Nieuwe Haven in Paramaribo. In 2018, a total of 
2,226 active importers were re gistered, down from 2,450 in 2013.  
3.6.  In June 2013, Suriname implemented a mandatory pre -shipment i nspection (PSI) programme 
for all consignments above USD 3,000,  as part of a larger effort to combat under -invoicing and 
address widely -acknowledged corruption in the customs force.2 Under the system , all importers had 
to submit  an Import Verification Request. Certain goods were excluded from the PSI requirement, 
such as crude oil, live animals, and precious stones and metal. However, o n 26 July 2013,  the 
Governm ent suspended the PSI  requirement,  and announced  the implement ation of  a new inspection 
regime ; this, however, had not been implemented as at March 2019 .  
3.7.  Suriname's legislation on customs valuation is contained in the Tariff Import Duties Law, which 
was n otified to the WTO in 1999.3 In principle, the legislation is based on the WTO's Customs 
Valuation Agreement.  
3.8.  The customs authorities indicated that apparent under -valuation of imports is a regular 
occurrence. Article 16 of the Tariff Import Duties Law ex plicitly prohibits the use of minimum values 
to determine customs value. However, for cars and electronic goods, the CED uses internal reference 
prices, based on the prices of past shipments of identical or similar goods, and compares these 
prices with the  declared value of the imported good.  
                                                
1 WTO (2013) . Trade Policy Review of Suriname . 
2 Presidential Decree P.B. No.  05/2013 of 3 May 2013 and Ministry of Fin ance Regulation La. F. 
No. 4083 of 17 May 2013 as amended by Ministry of Finance Regulation La. F. No.  6051 of 16 July 2013.  
3 WTO document G/VAL/N/1/SUR/1, 27 January 1999.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.9.  Physical  inspection of the merchandise may be carried out, based on criteria such as the 
amount of customs duties, the country of origin, the importer, the type of goods imported, and 
previous experience with the impo rting company. The authorities indicated that some 50% of 
consignments are physically inspected.  
3.10.   According to the World Bank's Doing Business 2018 , the average time to import is 36 hours 
for clearance and inspections required by customs authorities, and 48 hours for port or border 
handling.4 Representatives of the private sector repeatedly expressed strong concerns about very 
long clearance times.  
3.11.   Decisions by customs officials may be appealed, initially to the Head of the CED and then t o 
the Director of Taxation. If still unsatisfied, importers may appeal to a Board of Appeal. No 
information on the number of appeals was available.  
3.12.   Suriname has yet not ratified the Trade Facilitation Agreement  (TFA) . According to the 
authorities, the respective law is before Parliament. In June 2016, a National Trade Facilitation 
Committee was established.  
3.13.   Suriname submitted its Category A commitments under the TFA in November 2015.5 The 
commitments cover eight differ ent measures. As at January 2019, Suriname ha d not yet submitted 
its Category B and C commitments.  
3.14.   Suriname joined the World Customs Organization in November 2018.  
3.1.2   Rules of origin  
3.15.   Suriname notified the WTO that it does not apply non -preferential rules of origin.6 It also 
notified that it applies the preferential rules of origin contained in Schedule II of the CARICOM Treaty 
(Rules Regarding Common Market Origin).7 
3.16.   To be considered as originating in CARICOM, goods must be wholly produced within CARICOM, 
or substantially transformed if produced wholly or partly from materials imported from 
third countries. Substantial transformation is deemed to have taken place when there is a change 
of tariff heading, or fulfilment of criteria such as the use of specific te chnical processes or components 
in manufacturing or minimum levels of components and raw materials from CARICOM countries. To 
qualify for CARICOM origin, imports into Suriname must be accompanied by a CARICOM certificate 
of origin issued by the exporting c ountry, and a CARICOM invoice.  
3.17.   The Chamber of Commerce ( Kamer van Koophandel en Fabrieken , KKF) is responsible for 
issuing certificates of origin for exports to CARICOM; the Inspectorate for Customs and Excise is 
responsible for issuing all other certific ates of origin.  
3.1.3   Tariffs  
3.1.3.1   Applied MFN tariff  
3.18.   Suriname's MFN tariff remained unchanged since the last Review. It applies the CARICOM 
CET, but maintains restrictions under Lists A and C of CARICOM. The CET rates for products in List  A, 
comprising 96 tariff li nes at the eight -digit level, were suspended indefinitely, allowing each 
CARICOM member to set its own, lower rates. For products in List C, comprising 224 tariff lines at 
the eight -digit level, CARICOM members may specify their own rates above the minimum  agreed 
rates.  
3.19.   Suriname's applied MFN tariff is entirely ad valorem , and comprises ten rates ranging from 
zero to 50%. The most frequent rate is 5% (56.9% of total lines); the rate of 50% is applied to only 
0.5% of all tariff lines, affecting mainly alcoh olic beverages (Chart 3.1). The simple average tariff is 
                                                
4 World Bank, Doing Business 2018.  
5 WTO document WT/PCTF/N/SUR/1, 30 November 201 5. 
6 WTO document G/RO/N/24, 15 January 1999.  
7 WTO document G/RO/N/24, 15 January 1999.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  11.4% (Tables 3.1 and 3.2). The coefficient of variation of 0.9 shows a high dispersion of rates. 
Suriname does not apply any tariff rate quotas.  
3.20.   Agricultural products (WTO definition) are subject to  heavier taxation (19.5% on average) 
than non -agricultural products (9.8% on average). Using ISIC definitions, agriculture and fisheries 
remain the most protected sector (with an average tariff of 22.7%), followed by manufacturing 
(10.6%) and mining (7.2%)  (Table 3.2).  
Chart 3.1 Frequency distribution of MFN tariff rates, 2018  
 
a The total number of ad valorem  lines is 6,292.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
Table 3.1 Structure of the tariff schedule, 2012 and 2019  
(Per cent)    
2012  2019  
1. Total number of tariff lines  6,292  6,292  
2. Non-ad valorem  tariffs (% of all tariff lines)  0.0 0.0 
3. Non-ad valorem  with no AVEs (% of all tariff lines)  0.0 0.0 
4. Lines subject to tariff quotas (% of all tariff lines)  0.0 0.0 
5. Duty-free tariff lines (% of all tariff lines)  5.0 5.0 
6. Dutiable lines tariff average rate (%)  12.0 12.0 
7. Simple average tariff (%)  11.4 11.4 
8.  WTO agriculture  19.5 19.5 
9.  WTO non -agriculture (incl. petroleum)  9.8 9.8 
10.  Agriculture, hunting, forestry and fishing (ISIC 1)  22.7 22.7 
11.  Mining and quarrying (ISIC 2)  7.2 7.2 
12.  Manufacturing (ISIC 3)  10.7 10.7 
13.  First stage of processing  18.5 18.5 
14.  Semi-processed products  6.1 6.1 
15.  Fully processed products  12.5 12.5 
16. Domestic tariff "peaks" (% of all tariff lines)a 7.3 7.3 
17. International tariff "peaks" (% of all tariff lines)b 28.2 28.2 
18. Overall standard deviation  10.6 10.6 
19. Bound tariff lines (% of all tariff lines)  30.6 30.6 
a Domestic tariff peaks are defined as whose exceeding three times the overall average applied rate.  
b International tariff peaks are defined as those exceeding 15%.  
Source:  WTO Secretariat calculations, based on data provided by the auth orities.  
(5.0%)(56.9%)
(3.9%)(5.9%)(19.1%)
(1.6%)(0.2%) (0.2%)(6.6%)
(0.5%)
0102030405060708090100
05001,0001,5002,0002,5003,0003,5004,000
Duty free 5 10 15 20 25 30 35 40 50Chart 3.1
Frequency distribution of MFN tariff rates, 2018
Number of tariff linesaPer cent
Cumulative per cent
Number of lines (% of total)
a   The total number of ad valorem lines is 6,292.
Source:   WTO Secretariat calculations, based on data provided by the authorities.Tariff rates (%)WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table 3.2 Summary analysis of MFN tariff, 2019  
Description  MFN Final bounda No. of  lines  
Average  (%) 
Range  (%) 
Coefficient  of 
variati on 
(CV) 
Average  (%) 
Range  (%) 
Total  6,292  11.4 0 - 50 0.9 18.0 0 - 40 
HS 01 -24 1,124  21.8 0 - 50 0.7 19.9 10 - 25 
HS 25 -97 5,168  9.1 0 - 40 0.8 16.4 0 - 40 
By WTO category        
WTO agriculture  1,026  19.5 0 - 50 0.8 19.8 0 - 20 
 - Animals and products thereof  149 21.1 0 - 40 0.6 20.0 20 - 20 
 - Dairy products  24 9.6 5 - 20 0.5 20.0 20 - 20 
 - Fruit, vegetables and plants  307 23.1 0 - 40 0.7 20.0 17 - 20 
 - Coffee and tea  29 17.4 5 - 40 0.8 20.0 20 - 20 
 - Cereals and preparations  125 16.0 0 - 40 0.7 19.9 14.3 - 20 
 - Oil seeds, fats and oils and their products  95 16.7 0 - 40 1.0 18.9 10 - 20 
 - Sugars and confectionary  21 21.7 5 - 40 0.7 20.0 20 - 20 
 - Beverages, spirits and tobacco  118 29.7 5 - 50 0.6 20.0 20 - 20 
 - Cotton  6 5.0 5 - 5 0.0 20.0 20 - 20 
 - Other agricultural products , n.e.s.  152 9.5 0 - 40 1.3 19.5 0 - 20 
WTO non-agriculture (incl. petroleum)  5,266  9.8 0 - 40 0.9 16.3 0 - 40 
 - WTO non -agriculture (excl. petroleum)  5,240  9.8 0 - 40 0.9 16.2 0 - 40 
 - - Fish and fishery products  176 28.3 0 - 40 0.6 22.3 17.3 - 25 
 - - Minerals and metals  1,115  8.2 0 - 40 0.9 6.7 0 - 20 
 - - Chemicals and photographic supplies  1,006  7.4 0 - 30 0.7 6.7 0 - 30 
 - - Wood, pulp, paper and furniture  329 9.8 0 - 20 0.7 22.5 20 - 25 
 - - Textiles  638 7.7 0 - 25 0.7 14.2 0 - 20 
 - - Clothing  277 19.9 5 - 20 0.1 37.4 25 - 40 
 - - Leather, rubber, footwear and travel goods  179 10.4 0 - 25 0.7 6.7 0 - 20 
 - - Non-electric machinery  588 6.3 0 - 30 0.8 5.9 3 - 22.5 
 - - Electric machinery  264 9.9 0 - 30 0.7 17.9 5 - 20 
 - - Transport equipment  185 9.6 0 - 35 1.0 22.3 3 - 38 
 - - Non-agriculture articles , n.e.s.  483 13.0 0 - 40 0.6 20.0 20 - 20 
 - Petroleum  26 7.7 0 - 25 0.9 18.9 18 - 19.8 
By ISIC sectorb       
Agriculture and fisheries  411 22.7 0 - 40 0.8 19.7 0 - 20 
Mining  107 7.2 0 - 40 1.1 5.0 0 - 20 
Manufacturing  5,773  10.6 0 - 50 0.9 17.7 0 - 40 
By HS section        
01 Live animals and products 330 24.5 0 - 40 0.7 20.1 17.3 - 25 
02 Veg etable products  382 20.6 0 - 40 0.8 19.9 10 - 20 
03 Fats and oils 53 25.7 5 - 40 0.7 18.6 13.9 - 20 
04 Prepared food , etc. 359 19.9 0 - 50 0.7 20.1 20 - 22.5 
05 Minerals  187 6.5 0 - 25 0.7 14.3 0 - 20 
06 Chemical s and products 937 7.0 0 - 30 0.8 12.4 0 - 30 
07 Plastics and rubber  244 9.0 0 - 25 0.6 20.0 20 - 20 
08 Hides and skins 80 10.6 5 - 20 0.7 7.9 0 - 20 
09 Wood and articles  133 10.8 0 - 20 0.5 20.0 20 - 20 
10 Pulp, paper , etc. 172 7.8 0 - 20 0.8 25.0 25 - 25 
11 Textile s and articles  902 11.0 0 - 20 0.7 27.6 0 - 40 
12 Footwear, headgear  60 16.1 0 - 20 0.4 0.0 0 - 0 
13 Articles of stone  186 9.5 0 - 20 0.7 20.0 20 - 20 
14 Precious stones, etc.  62 22.8 0 - 40 0.8 0.0 0 - 0 
15 Base metals and products 712 7.5 0 - 30 0.7 6.6 5 - 20 
16 Machinery  869 7.5 0 - 30 0.8 8.5 3 - 22.5 
17 Transport equipment  196 9.5 0 - 35 1.0 22.2 3 - 38 
18 Precision equipment  229 11.0 0 - 40 0.8 20.0 20 - 20 
19 Arms and am munition  24 19.6 0 - 25 0.4 0.0 0 - 0 
20 Miscellaneous manuf actures  167 15.0 0 - 20 0.4 0.0 0 - 0 
21 Works of art, etc.  8 20.0 20 - 20 0.0 0.0 0 - 0 
By stage of processing        
First stage of processing  818 18.5 0 - 40 0.9 19.6 0 - 20 
Semi-processed products  1,850  6.1 0 - 40 0.7 14.7 0 - 25 
Fully processed products  3,624  12.5 0 - 50 0.8 18.0 0 - 40 
a Bound rates and applied rates are provided in the HS07 classification. However, only 30.6% of the 
tariff is bound, which means that bound averages are calculated on a different number of lines.  
b ISIC (Rev.2) classification, excluding electricity (1 line).  
Source:  WTO Secretariat estimates, based on data provi ded by the authorities.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.21.   Fiscal income derived from import tariffs amounted to SRD 639 million in 2018, up from 
SRD 351 million in 2013 (Table 3.3).  
Table 3.3 Fiscal income derived from import duties, 2013 -18 
(SRD '000)  
 2013  2014  2015  2016  2017  2018  
Import tariffs  351,069  338,609  347,297  319,453  467,829  639,246  
Statistics fees  23,519  17,967  15,740  14,621  20,786  27,310  
Consent fees  39,664  34,161  32,460  30,966  46,139  63,221  
Turnover tax  299,613  253,968  258,210  263,225  378,497  485,231  
Excise tax  119,135  114,957  135,495  110,928  143,320  154,417  
Source:  Suriname authorities . 
3.22.   Overall, the tariff is characterized by mixed escalation (Table 3.1), negative from raw 
materials (18.5%) to semi -finished products (6.1%), and positive towards finished products 
(12.5%). A more detailed breakdown shows mixed tariff escalation in the food,  textile, and 
non-metallic mineral industries, and positive escalation for wood products (Chart 3.2). The high 
incidence of tariff exemptions and concessions, however, may reduce escalation effects.  
Chart 3.2 Tariff escalation by 2 -digit ISIC industry, 2018  
 
n.a.: Not applicable.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
3.1.3.2   Bindings  
3.23.   About 30% of Suriname's tariff in the HS07  classification is bound. Bound rates range from 
zero to 40%, with the highest rates applying to non -agricultural products (Table 3.2). The average 
bound rate is 18.0% (19.8% for agricultural products, and 16.3% for non -agricultural products).  
3.24.   Applied rates exceed bound rates for 597 tariff lines, or 9.5% of Suriname's tariff. This 
happens mainly for boilers, machinery, and technical appliances (112 tariff lines); edible fruits and 
nuts (61  lines); edible vegetables (56  lines); and live animals (32 lines).  
n.a.n.a.
0%5%10%15%20%25%30%
31 32 33 34 35 36 37 38 39 Total
manuf.Chart 3.2  Tariff escalation by 2 -digit ISIC industry, 2018
Average applied rate
in manufacturing
(9.8%)First stage of processing
Semi-processed
Fully processed
n.a.       Not applicable.31   Food , beverages and tobacco      
32   Textiles and leather  
33   Wood and furniture      37   Basic metals
38   Fabricated metal products and machinery
39   O ther manufacturing34   Paper, printing and publishing
35   C hemicals
36   Non -metallic mineral products
Source:  WTO Secretariat calculations, based on data provided by the authorities.WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.25.   Suriname transposed  its tariff schedule to HS07 in 2014 and to HS12 in 2018.8 In May  2017, 
it notified that it reserves its rights under Article XXVIII to modify its schedule, during the 
three -year period commencing 1 January 2018.9 In June 2018, Suriname n otified its intent ion to 
modify tariff concessions on 715 lines, in order to adjust its tariffs to the CET of the CARICOM 
customs union .10 The authorities indicated that, as at early 2019, consultations were ongoing with 
interested parties.  
3.1.3.3   Preferential tariffs  
3.26.   Suriname gran ts duty -free treatment to all imports from CARICOM. Through agreements 
concluded by CARICOM, Suriname also grants preferential treatment to imports from Cuba, the 
Dominican Republic, and the European Union.  
3.1.3.4   Exemptions and concessions  
3.27.   Imports of capital go ods worth at least USD 10,000, or of goods worth at least USD 5,000 
that are used in the production of capital goods, can be partially or fully exempted from payment of 
customs duties and of turnover and statistical taxes. Imports by humanitarian instituti ons are eligible 
for a partial exemption, covering 75% of tariffs and turnover taxes. Imports by diplomatic missions 
and those for re -exportation are fully exempt. The statistical fee for partly exempted imports is 
SRD 100. All exemptions must be approved by the Ministry of Finance.  
3.28.   Revenue forgone from import duty exemptions and concessions is considerable; in 2018, it 
amounted to over SRD 1 .4 billion, more than twice the value of income derived from import tariffs 
(Table 3.4). 
Table 3.4 Revenue forgone due to duty exemptions and concessions, 2013 -18 
(SRD '000)   
On importations  On exportations  Total  
2013 812,754  19,845  832,599  
2014 614,315  15,444  629,759  
2015 674,381  13,608  687,989  
2016 625,469  19,528  644,998  
2017 987,738  33,893  1,021,631  
2018 1,417,598  31,515  1,449,114  
Source:  Suriname authorities . 
3.1.3.5   Other duties and charges  
3.29.   In addition to tariffs, all goods imported into Suriname are subject, on the basis of their c.i.f. 
value, to a consent fee of 1.5%, and a statistical fee of 0.5% on all imports, except bauxite, for 
which the fee is 2%. No consent fee is applied to imports from CARICOM or to tariff -exempted 
imports. Fiscal revenue derived from these two fees amounted to over SRD 90 million in 2018 
(Table  3.3). 
3.30.   Suriname has bound other duties and charges at zero or 50% for 25.6% of total tariff lines.  
3.1.4   Other charges affecting  imports  
3.31.   Based on the Law on Turnover Tax, 1997, Suriname applies a turnover tax which is levied on 
most domestically -produced and imported goods and services. The basic rate is 10% for goods and 
8% for services. A rate of 0% applies to some 50 products li sted in Annex II of the Law.11 A rate of 
                                                
8 WTO documents G/MA/TAR/RS/369, 25 July 2014; WT/LET/996 , 14 November 2014; 
G/MA/TAR/RS/557, 15 June 2018; and WT/LET/1400, 27 September 2018.  
9 WTO document G/MA/336 , 10 August 2017.  
10 WTO document G/SECRET/41, 11 June 2018.  
11 These include baby food, beans, biscuits, bread, butter, cocoa powder, cheese, cold cuts, cooking gas, 
cooking oil, diapers, diesel oil, disinfectants, eggs, electricity, fresh fish and meat pro ducts, fresh fruit and 
vegetables, margarine, garlic, matches, medicines and medical equipment, milk and powder milk, mosquito 
coils, oats, peanut butter, potatoes, rice, salt, salted fish, sanitary towels, sardines in oil or tomato sauce, WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  25% applies to some luxury goods.12 In practice, all products subject to the highest rate are 
imported.  
3.32.   The turnover tax is levied only once in the production -distribution chain, at the point of sale 
by the manufactu rer. According to Article 14 of the Law, the applied turnover tax for imports is 
assessed on the basis of the c.i.f. customs value, plus all other applicable duties and charges, 
including customs duties. On imported goods, the tax is levied at the border.  Fiscal  income on 
imports derived from turnover tax amounted to SRD 485 million in 2018, up from SRD 300 million 
in 2013 (Table 3.3).  
3.33.   Suriname has been planning to introduce VAT for a number of years now . A draft VAT Law 
was elaborated, but adoption and imp lementation ha ve been repeatedly delayed.   
3.34.   Suriname applies excise taxes on alcoholic and sugar -sweetened beverages, bottled water, 
and cigarettes and tobacco. According to the authorities, excise taxes are applied on imported and 
locally -produced goods alike. On imported goods, the tax is levied a t the border.  Fiscal  income on 
imports derived from excise taxes amounted to SRD 154 million in 2018, up from SRD 119 million 
in 2013 (Table 3.3).  
3.35.   Applied specific duties are: USD 2 per litre of rum; between USD 3.30 and USD 8.25 per litre 
of spirits, depe nding on the alcoholic content; USD 0.12 per percentage of alcohol by volume per 
litre on wine and beer; USD 0.07 per litre on bottled water and sugar -sweetened beverages; 
USD 44 per 500 cigars, or 1,000 cigarettes, or 1 kg of tobacco.  
3.36.   In addition to the turnover tax, fuel oil is also subject to a surcharge of SRD 30.  
3.1.5   Import prohibitions, restrictions, and licensing  
3.37.   The Law on the Movement of Goods, which entered into force in October 2003, declared that 
goods may be  brought into Suriname free of non-tariff restrictions, except those restrictions that 
protect public order, public morality, national  security, public safety, international law and order, 
the health and life of persons, animals, plants, or the environment, national artistic possessions, and 
industrial and commercial property.  
3.38.   Suriname maintains import prohibitions for reasons of environmental protection, natural 
security, and public morality (Table 3.5). Goods affected include chemicals, certain pesticides, and 
second -hand veh icles.  
Table 3.5 Import prohibitions, 2019  
Tariff 
heading  Description  Legal basis for 
restriction  Reason for restriction  
38.08  Pesticides contained in the FAO negative list  .. Environmental protection  
38.08  Chemicals contained in the FAO negative list  .. Environmental protection  
28.44  Chemical and radioactive waste  .. Environmental protection 
and national security  
93.01  Chemical, biological and nuclear weapons, 
including substances used for the produc tion of 
these weapons  Chemical weapons 
Convention (1993)  National security  
 Goods obtained illegally in their country of origin  .. Public morality  
87 Second -hand buses over ten years  old .. Environmental protection  
 Second -hand passenger vehicles over eight years  
old .. Environmental protection  
.. Not available.  
Source:  Suriname authorities . 
                                                
school uniforms and instruction materials, soap, spices, sugar, tea, toilet paper, tomato puree, toothpaste, 
wheat, and wheat flour.  
12 Luxury goods are automobiles and other motor vehicles, primarily intended for passenger transport, 
with an engine capacity exceeding 2,00 0 cm3 and a c.i.f. value of USD 25,000 or more; motorcycles; 
speedboats, jet skis, yachts, and other vessels for sport and pleasure; washing machines; video cameras; 
fireworks; gambling machines; television sets with screens of more than 31 inches; satellite di shes and 
antennas; and weapons and ammunition.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.39.   Import restrictions are in place for firearms, fireworks, narcotic drugs, animals and animal 
products, and used tyres (Table 3. 6). Import licences for these products are issued by the MTIT free 
of charge.  
3.40.   In addition, certain goods, including plants and waste, are subject to certification 
requirements when imported ( Table 3. 7).  
Table 3.6 Goods subject to licensing requirements, 2019  
Tariff 
heading  Description  Legal basis for restriction  Reason for 
restriction  
93.02  Firearms, including 
explosives and ammunition 
in the sense of Article 1 of 
the Firearms Law  Firearms Law, 1930  National security  
36.04  Fireworks  .. National security  
30 
12.11  
13.02  
28, 29  
38 
53.02  Narcotics and psychotropic 
substances listed in Article 
3.1 of the Narcotics Law; 
pharmaceutical products for 
humans, and sera  Narcotics Law, 1998  
UN Single Convention on Narcotic Drugs and 
the Prevention of Drug Addiction (1961)  
UN Convention on Psychotropic Substances 
(1971)  
UN Convention against Illicit Traffic in Narcotic 
Drugs and Psychotropic Substances (1988)  Public order and 
health  
30 
38.08  Pharmaceutical products for 
animals and plants  .. Public health  
28.05  Mercury  .. Environmental 
protection and 
public health  
38.05  Pesticides (except those 
included in the FAO negative 
list) Pesticides Law, 1972  Environmental 
protection and 
public health  
28.44  
28.45  Radioactive materials  .. Public health  
1-5 
96.01  Endangered wild animal 
species , listed in Appendix I 
of CITES , and their products, 
including eggs  Hunting Law, 1954 , and Convention on 
International Trade in Endangered Species of 
Wild F auna and Flora  Protection of 
animal life  
2-5 
41-43 Eggs, skins and hides, and 
other products of 
endangered species  Hunting Law, 1954  Protection of 
animal life  
.. Animals, and their parts and 
products  .. Protection of 
animal life  
40.12  Second -hand tyres  .. Environmental 
protection  
29.03  Equipment containing 
polychlorobiphenyl (PCB) and 
polychloroterphenyl (PCT)  .. Environmental 
protection  
06.02  
5-8 
10, 12  
25 Seeds, propagating material, 
humus, and raw soil  Plant Protection Ordinance, 1965  Protection of 
human and 
plant health  
87 Second -hand motorcycles or 
scooters over three years  old .. Environmental 
protection  
.. Not available.  
Source:  Suriname authorities.  
Table 3.7 Good su bject to certification requirements, 2019  
Tariff 
heading  Description  Legal basis for restriction  Reason for 
restriction  Issuing 
authority  
21.02  
30.02  Micro -organisms 
(bacteria, yeast, and 
mould) .. Protection of 
public health  Ministry in charge 
of public health  
23 Waste, except 
chemical and 
radioactive waste  .. Environmental 
protection  .. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Tariff 
heading  Description  Legal basis for restriction  Reason for 
restriction  Issuing 
authority  
29.03  Products containing 
chlorofluorocarbons 
(CFCs)  Montreal Protocol on 
Substances that Deplete the 
Ozone Layer (1987)  Environmental 
protection  Ministry of Labour,  
Technological 
Development  and 
Environment  
.. Plants  Plant Protection Ordinance, 
1965, and International 
Plant Protection Convention 
(1951)  Protection of 
human and plant 
health  Certification from 
the country  
of origin  
63.05  Second -hand empty 
bags or sacks used 
for packing goods  Plant Protection Ordinance, 
1965 .. Fumigation 
certification from 
the country  
of origin  
.. Not available.  
Source:  Suriname authorities.  
3.1.6   Anti-dumping, countervailing, and safeguard measures  
3.41.   Suriname has never undertaken any action related to contingency measures.  
3.42.   Suriname has no specific law dealing with anti -dumping, countervailing duties, or safeguard 
measures.13 However, the Law on the Movement of Goods contains provisions allowing anti -dumping 
measures. These may be introduced if imports cause serious harm to existing businesses, or slow 
down the start -up of a new business sector. The Law also provides for the application of safeguard 
measures if increasing imports seriously disadvantage, o r threaten to seriously disadvantage, 
domestic producers of similar or competitive goods. There are no detailed regulations setting out 
the conditions and procedures for deciding and applying anti -dumping or safeguard measures.  
3.43.   CARICOM members may, under certain conditions, impose anti -dumping or safeguard 
measures against other members, or refer cases to the Council for Trade and Economic Development 
(COTED), an entity composed of ministers from CARICOM.14 However, Suriname has never used 
these CARIC OM provisions.  
3.1.7   Other measures affecting imports  
3.44.   Suriname does not maintain any local content requirements.  
3.2  Measures Directly Affecting Exports  
3.2.1   Customs procedures and requirements  
3.45.   Registration requirements and customs formalities for imports of goods for commercial 
purposes also apply to exports ( Section 3.1.1). The  documents required to export goods comprise 
an international trade transaction form for goods and services (IT form), the single administrative 
document (ED form), a commercial invoice, a bill of lading or airway bill, and a packing list. Goods 
destined for  CARICOM  or the European Union, and goods eligible for GSP treatment in other 
countries, must be accompanied by a certificate of origin.   
3.46.   Due to the lack of a risk analysis system to identify and inspect high -risk shipments, all 
exports continue to be subject to physical inspection. According to the World Bank's Doing Business 
2018, the average time to export is 84 hours for border compliance and 12 hours for documentary 
compliance.15 
3.47.   In 2018, a total of 543 active exporters were registered, up from 459 in 2013.  
                                                
13 WTO documents G/ADP/N/1/SUR/2, 8 May 2009; G/SCM/N/202/SUR, 1 February 2010; and  
G/ADP/N/193/SUR, 5 February 2010.  
14 RTC establishing the Caribbean Community including the CARICOM Single Market and Economy , 
Articles 133 (anti -dumping measures) and 150 (safeguard measures).  
15 World Bank, Doing Business 2018.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.2.2   Taxes, charges, and levies  
3.48.   All exports except those to CARICOM countries are subject to a consent fee of 0.1%. In 
addition, a statistical fee of 0.5% applies to exports of all prod ucts except bauxite, which is subject 
to a statistical fee of 2%. These fees are assessed on the f.o.b. value of exports.  Fiscal revenue 
derived from both fees amounted to more than SRD 9 million in 2018 (Table 3.8).  
Table 3.8 Income derived from export fees, 2013 -18 
(SRD '000)  
 2013  2014  2015  2016  2017  2018  
Statistic al fee   2,442  2,664  5,508  4,488  6,191 7,547  
Consent fee 637 753 1,131  927 1,262  1,533  
Source:  Suriname authorities . 
3.49.   Suriname applies additional taxes on exports of raw and roughly -processed timber, with a 
view to encouraging local processing. Rates are set at 20% for logs, and 5% and 10% for 
hewn -squares, sleepers (ties), and other semi -processed timber. A minimum reference price set by  
the Government is applied.  
3.50.   Under the Decision on Rice Exports, exports of rice and rice -products are subject to an 
inspection fee of SRD 10, of which SRD 6 is allocated to the Rice Research Institute.  
3.2.3   Export prohibitions, restrictions, and licensing  
3.51.   The Negative List Decision, adopted under the Law on the Movement of Goods, lists all 
products that are subject to an export prohibition or non -automatic licensing requirements. Export 
prohibitions are in place for certain cultural goods and chemical weapons (Table 3.9).  
Table 3.9 Prohibited exports, 2019  
Tariff code  Description  Legal basis for 
restriction  Reason for restriction  
17 Antiques  .. Protection of the national 
artistic and historical heritage  
28-29 Chemical weapons  Chemical Weapons 
Convention (1993)  National security  
n.a. Goods obtained illegally in Suriname  .. Public morality  
.. Not available.  
n.a. Not applicable.  
Source:  Suriname authorities.  
3.52.   Export licences are in place for certain plants and animals, firearms,  narcotics, and logs  
(Table  3.10). Licences are issued by the MTIT.  
Table 3.10 Exports subject to licensing requirements, 2019  
Tariff 
code  Description  Legal basis for restriction  Reason for 
restriction  
93 Firearms, explosives and ammunition  Firearms Law, 1930  National security  
12 Medicinal plants  .. .. 
12.11  
13.02  
28-29 
30, 38 
53.02  Narcotics and psychotropic substances; 
pharmaceutical products for humans, 
and sera  Narcotics Law, 1998  Public order and health  
1-5 
96.01  Endangered wild animal species listed in 
Appendix I of CITES and their products, 
including eggs  Hunting Law,  1954  Protection of animal 
life 
4-5 
41-43 
96.01  Eggs, skins and hides, and other 
products of endangered species  Hunting Law, 1954  Protection of animal 
life 
.. Processed and unprocessed wood, logs  Forest Management Law  Protection of the 
environment  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Tariff 
code  Description  Legal basis for restriction  Reason for 
restriction  
5, 12 
32-33 Plants and animals with potential 
commercial applications as 
pharmaceutical, aromatic, dying and 
flavouring products  .. .. 
.. Not available.  
Source:  Suriname authorities.  
3.2.4   Export support and promotion  
3.53.   According to the authorities,  Suriname does not provide any subsidies for export purposes.  
3.54.   Suriname does not maintain an export development strategy. The KKF, together with 
Suriname's business associations, continues to execute export promotion activities, such as trade 
missions and e xhibitions in foreign markets.  
3.55.   Suriname does not have any export processing zones.  
3.2.5   Export finance, insurance, and guarantees  
3.56.   Suriname does not have any government -sponsored or -operated export insurance, finance 
or guarantee programme.  
3.3  Measures Affecting Production and Trade  
3.3.1   Incentives  
3.57.   In 2009, Suriname notified the WTO that it does not provide subsidies to any of its economic 
sectors or actors.16 This situation remained unchanged.  
3.58.   Fiscal and non -fiscal incentives are granted to attract new, and expand existing, investments. 
These are included in the Investment Law. A priori , no economic activity or sector (except casinos) 
is excluded from these incentives, which include tax holidays, tax consolidation, the repayment of 
capital, profit or interest, and residence permits and licences for the employment of foreigners. 
Investmen ts of more than USD 50 million for the exploration and exploitation of bauxite, 
hydrocarbons, gold, or radioactive minerals may benefit from additional incentives.  
3.59.   Under the revised Raw Materials Act, 1996, an exemption of import duties is granted on the 
import of raw materials, ancillary materials, semi -finished goods, and packing materials imported 
for use in the following sectors: the industrial sector, the agriculture sector, the horticulture sector, 
the ornamental plant cultivation sector, the stock -breeding sector, and the fisheries sector. 
Exemptions are also granted to the food industry, the soft drinks industry, and the fruit juice 
industry.17 
3.60.   A new Investment Law has been under preparation since 2004, but had not been adopted as 
at early 2019 (Sect ion 2.4).  
3.3.2   Standards and other technical requirements  
3.61.   The Suriname Standards Bureau is responsible  for developing and implementing standards 
and technical regulations, for certification of goods and processes, for metrology, and for 
accreditation of labora tories and testing facilities. It is a correspondent member of the International 
Organization for Standardization (ISO) , and a member of the CARICOM Regional Organization for 
Standards and Quality (CROSQ) , the Pan American Standards Commission (COPANT),  and the 
Inter-American Metrology System .  
                                                
16 WTO document, G/SCM/N/186/SUR, 6 May 2009.  
17 2010 Suriname Investment Guide.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.62.   The principal pieces of legislation relating to standardization, conformity assessment, and 
certification  are the Standards Act No. 121, 2004 and the Suriname National Bureau of Standards 
Act No. 30,  2006. The latter  was amended in 201218 by changing the name of the Bureau to the 
Suriname Standards Bureau ( Surinaams Standaarden Bureau  – SSB) and making it the WTO enquiry 
point under the TBT Agreement.  
3.63.   There are three procedures for developing standards:  
• the normal proc edure, which is used to develop a new standard where there are no relevant 
regional or international standards. The normal procedure takes 23 months;  
• the development of a standard though adoption, which is used when there is a relevant 
regional or internat ional standard. In these cases, where the regional or international 
standard is identical to the national one, the procedure takes four months; if the regional or 
international standard has to be modified, the procedure takes ten months; and  
• the fast trac k procedure, which is used in cases of high importance or if a specific standard 
is needed for the protection of human, animal or plant health or safety, or for protection of 
the environment. In these cases, preference is given to referring to existing int ernational or 
regional standards.19 
3.64.   In all cases, the development procedures follow the same stages, starting with a proposal 
from any interested person or organization and, after examination and preliminary work, the 
establishment of a technical committee to develop a draft standard. The members of the technical 
committees include academics, consumers, and producers. Other government agencies involved in 
the development of standards include the Agricultural Health and Food Safety Unit (AHFSU), the 
Fish Insp ection Institute (VKI), the Bureau of Public Health, the KKF, the Environment Hygienic 
Service, and the National Institute for Environment and Development. Draft standards are published 
on the SSB's website, with a 60 -day period for comments; they are also  published in local 
newspapers. The draft is then reviewed by the technical committee in the light of comments, and 
submitted for approval by the Board of the SSB. Requests for technical regulations are submitted to 
the MTIT. Draft technical regulations mu st be adopted by the Council of Ministers. Both standards 
and technical regulations are published in the Staatsblad  and a local newspaper . 
3.65.   A list of national standards is also available from the SSB website. Since 1 January 2013, 
national standards have be en developed for labelling of pre -packaged goods, basic hygiene and food 
safety for bread and pastry producers, guidelines for pig farming, booking agents and tour operators, 
and organic agriculture and horticulture.20 Of these, the General Requirements for  Labelling of 
Prepacked Goods (SSB 003:2013) and the Basic Hygiene and Food Safety for Bread and Pastry 
Products (SSB 006:2014) are technical regulations.  
3.66.   Suriname is a member of CROSQ, the regional inter -governmental organization established 
in 2002 to fa cilitate the development of regional standards, and promote the harmonization of 
metrology systems in CARICOM. As in other CARICOM member States, Surinamese entities may, 
through the national standards body, ask CROSQ to develop a regional standard. The pr oposal is 
then circulated to all member States for evaluation and voting and, if approved, one of the technical 
committees prepares a draft standard which is submitted to the member States for comments. The 
draft is reviewed based on the comments received,  and is submitted to the Council of CROSQ for 
approval and then to the COTED for adoption as a regional standard. After publication, the CARICOM 
standard is distributed to the member States for implementation.  
3.67.   In general, the SSB uses international standar ds, such as ISO, Codex and ASTM international, 
or standards developed by regional bodies such as CROSQ, and the European Standardization 
Organizations. Where necessary, these are adapted to meet national requirements.  
                                                
18 Act amending the Suriname National Bureau of Standards Act (No. 30 of 2006), No. 42 of 2012.  
19 SSB. Viewed at: http://www.ssb.sr/en/services -standards -development -procedures/ . 
20 SSB. Viewed at: http://www.ssb.sr/en/producten/nationale -standaarden/ . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.68.   Suriname made one notification to the  WTO on TBT matters, a technical regulation on general 
requirements for labelling of pre -packaged goods, and one on minimum requirements for basic 
hygiene and food safety for bread and banquet producers.21 
3.69.   As at February 2019, t he SSB had adopted two techni cal regulations (mentioned in the 
previous paragraph) and 191 standards . According to the authorities, a ll standards are based on 
international or regional standards . 
3.70.   Suriname has two accredited lab oratories, the VKI, and the Central Lab oratory . Suriname i s 
part of CROSQ's conformity assessment scheme.  
3.3.3   Sanitary and phytosanitary requirements  
3.71.   Several government agencies are responsible for sanitary and phytosanitary measures 
including:  
• the MTIT;  
• the Ministry of Agriculture, Animal Husbandry and Fisheries and, within the Ministry:  
• the Plant Quarantine Unit;  
• the Department of Veterinary Inspection; and  
• the VKI; and  
• the ministry in charge of public health.  
3.72.   Suriname is a member of the Codex Alimentarius, the World Organization for Animal Health, 
and a contracting party to the International Plant Protection Convention (Convention of 1991).  The 
Ministry of Agriculture, Animal Husbandry and Fisheries is the enquiry point for the WTO SPS 
Committee.  
3.73.   The legislation relating to SPS measures is set out in s everal different laws, including:  
• Animal Diseases Prevention and Control Act No. 23, 1954, which r egulates animal 
production and importation for the purposes of preventing and reducing diseases affecting 
animals ; 
• Ordinance regulating import, sale and use of vaccines, sera and biological diagnost ics 
intended for use in animals, 1959, which prohibits the import, sale and use of vaccines, 
sera and biological diagnostics intended for use in animals without a valid permit issued 
by the Chief of the Veterina ry Service ; 
• Plant Protection Act, 1965, which sets out rules for imports, transport and transit of plants 
and plant products. Under the Act, imports of plants and plant products are prohibited 
unless permitted under legislation;  
• Pesticides Act No. 151, 197 2, which was amended by Act No. 18 of 2005 to prohibit the 
import, sale or use of pesticides included in the negative list of the FAO;  
• Fish Inspection Act No. 107, 2000, which applies to both capture fisheries and aquaculture, 
from catch or harvesting to s ale for consumption or export. The Act provides for the 
establishment of a Fish Inspection Unit, with responsibilities that include developing 
standards, inspection and control, registration of facilities, and enforcement;  
• Seed Act No. 51, 2005, which esta blished the Seed Council to regulate the production, 
importation and placing on the market of seeds. The Act allows for the establishment of a 
Seed Inspection Service for quality control and certification which, inter alia , maintains a 
register of recogniz ed seed importers;  
                                                
21 WTO document G/TBT/N/SUR/1, 5 June 2015 . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  • Animal Welfare Act No. 4, 2017, which, in addition to laws relating to the keeping and 
mistreatment of animals (including livestock), states that animals may only be killed: for 
slaughtering or hunting; if the animal poses an immediate t hreat to humans or other 
animals; for animal health and welfare purposes; or for law enforcement purposes; and  
• Meat and Other Animal Product Inspection Act No. 17, 2017.  
3.74.   In addition, there are several decrees and orders providing detailed rules for the 
implementation of these laws, such as the Hazard Analysis and Critical Control Point (HACCP) Order 
No. 13, 2002, the Food Additives Order No. 14, 2002, and the Decree Containing Rules Regarding 
the Implementation of Quality Requirements for Fisheries Products  No. 10 , 2002.22 
3.75.   Several projects are currently underway to improve the systems supporting food and feed 
safety, and animal and plant health, including:  
• the Country Programming Framework for Suriname 2016 -19, which is supported by the 
FAO, notes that food s afety, quality and certification systems are essential to achieving 
the objective of Suriname becoming a major supplier of food for the Caribbean, as this 
requires meeting stringent food safety standards23; 
• the Agricultural Competitiveness Program with the Inter-American Development Bank 
(IDB) notes that, while Suriname is currently free of several serious pests and diseases, 
such as foot and mouth disease and classical swine fever, its current status is vulnerable 
because: "surveillance and control systems,  border control and quarantine systems are 
not operating satisfactorily. In addition, human resources capacity is outdated and limited 
and equipment is obsolete"24; and  
• the 10th European Development Fund (EDF) Programme included a component on SPS 
measures  to facilitate CARIFORUM States gain and improve market access by complying 
with EU SPS measures and help the CARIFORUM States to develop their own 
regionally -harmonized SPS measures.25  
3.76.   Imports  of plants, plant parts, and plant products require phytosanita ry approval from the 
Plant Quarantine Unit of the Ministry of Agriculture, Animal Husbandry and Fisheries, and an import 
permit from the MTIT. An application for a permit is followed by a pest risk analysis, after which the 
permit may be granted, granted w ith conditions, or refused. In addition to the permit, import 
consignments must be accompanied by a phytosanitary certificate from the competent authority of 
the exporting country and, if required, the appropriate quarantine treatment. Upon arrival, the 
importer must notify the Unit, as inspection is mandatory, and the Unit must issue an Import 
Inspection Voucher before the Customs Department can clear the consignment.26 A new Plant 
Protection Act has been under preparation for several years, but adoption re mained pending as at 
early 2019.  
3.77.   Under the Meat and Other Animal Product s Inspection Act , 2017, imports of meat and other 
products of animal origin must be accompanied by an import permit and a veterinary health 
certificate, issued by the competent authori ty of the exporting  country. A dditional requirements may 
be determined by the Head of the Veterinary Service, based on risk assessment and international 
reference standards.  
                                                
22 National Assembly, and FAOLEX database. Viewed at: http://www.dna.sr/wetgeving/surinaamse -
wetten/  (Dutch); and http://www.fao.org/faolex/en/ . 
23 FAO (2015), Country Programming Framework for Suriname 2016 -19, Novemb er. Viewed at: 
http://www.fao.org/3/a -bp522e.pdf . 
24 IDB (2016), Agricultural Competitiveness Program , Project Number SU -L1020. Viewed at: 
http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=40461803 . 
25 CARICOM. Viewed at: https://caricom.org/epa -10th-european -development -fund-edf-caribbean -
regional -indicative -programme/ . 
26 Plant Protection Department (2011), Import procedures for Plants, Plant parts and Plant products into 
Suriname . Viewed at: 
https://www.ippc.int/static/media/files/publications/en/2013/04/23/1310403425_requirements_for_the_impor
t_of_t.pdf . WTO document WT/TPR/M/282/Add.1, 16 October 2013, pp. 29-31. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.3.4   Competition policy, price controls, consumer protection  
3.78.   Suriname does not have a generic competition law. A Competition Law and a Consumer 
Protection Law ( Conceptwet Consumentenbescherming ) have been under preparation for many 
years. According to the authorities, no date for enactment is foreseen. Both draft laws also cover 
state-owned  enterprises.  
3.79.   The CARICOM Competition Commission, based in Suriname, is in charge of competition issues 
at the regional level. The Commission has so far not dealt with any cases in Suriname.  
3.80.   Under the Law on Price Setting and Monitoring, SB 1996 No. 021,  the MTIT is authorized to 
determine the maximum price or mark -up for any good or service sold in Suriname. Gasoline and 
cooking gas prices are currently regulated under this arrangement.  
3.81.   A price control framework is in place, on an ad hoc  basis, for a li st of 11 products of primary 
necessity. The MTIT may intervene to fix the price of any good on the list if it rises by over 15%.  
3.82.   In addition, maximum permitted mark -ups for 50 goods range from 10% to 22% at wholesale 
and 15% to 35% at retail. Mark -ups are  determined on the basis of the factory cost for goods 
produced domestically, and on the c.i.f. value plus customs duties and other taxes for imports.  
3.83.   Tariffs of public utilities are regulated. The Ministry of Natural Resources may be involved in 
setting power and water tariffs, while the Ministry of Public Works, Transport and Communication 
sets the tariffs for public transport and ferry fees.  
3.84.   A Consumer Affairs Department was established in the MTIT in  February 2013 , and deals with 
all matters related to consumer protection. Through the use of an online app launched in 2016, 
consumers in Suriname can share a complaint with this Department . Between March 2016 and 
January  2019, more than 600 complaints were submitted, mostly relating t o hidden defects and 
contractual issues.  
3.3.5   State trading, state -owned enterprises, and privatization  
3.85.   In 2009, Suriname notified that it does not maintain any state -trading enterprises in 
accordance with Article XVII of GATT 1994 and the Understanding on the  Interpretation of 
Article  XVII.27  
3.86.   State ownership remains important in many sectors of the economy. Partially or fully 
state-owned entities are important in oil, banking, agriculture, energy and utilities, transportation, 
and tourism (Table A3.1).  
3.87.   Progre ss on privatization has been slow. In 2014, a Belgium multinational acquired a 90 % 
stake in the state -owned banana company , through a public bidding process.  No other privatizations 
took place during the period under review.  
3.3.6   Government procurement  
3.88.   Despite  a recent update (2015) to enhance transparency, the government procurement 
process remains ambiguous, and is not fully up to international standards. To an extent , this is 
because there is no stand -alone law on procurement ; but it is also because present rules allow for 
numerous alternatives and flexibilities. Work is underway with the Inter-American Development 
Bank ( IDB) and C ARICOM  to improve and standardize the procurement system in Suriname.  
3.89.   Government procurement is covered under the Accounting Law ( Comptabiliteitswet ), 1952, 
and Accounting Decree , 1953, which contain separate provisions and conditions for government 
procurement. They require the use of open tendering in the procurement of works, supplies and 
transport by the government and its agenci es.  
                                                
27 WTO document G/STR/N/11/SUR, 13 May 2009.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.90.   An open tender is published at least 42 days before the actual procurement , and its final 
outcome and award can be seen by the contractor s that lost the bid. None of this is subject to dispute 
settlement , as no provisions exist.  
3.91.   Alternative methods ar e authorized in exceptional circumstances, mainly for goods that are 
difficult or too costly to buy in Suriname,  or if procurement costs are below SRD 1.5 million  
(approximately  USD 200,000 ). To adhere better to international standards and practice, the 
SRD 1.5 million threshold was raised from the original SRD 30 ,000 (approximately USD 4,000 ) 
in 2011.  
3.92.   The Law allows for four different alternative methods: tender with prior selection, tender with 
limited invitations, limited tendering after selection , and a simplified procurement procedure with 
shortened timelines.  
3.93.   In September 2015, the Accounting Law was amended to strength en the procurement 
provisions and to ensure increased transparency towards applied procedures, the final award and 
the costs involved. The President can still deviate from these conditions if it is considered in the 
interest of the country, but is bound by  the public nature of a tender.  
3.94.   The Auditor's Office ( Rekenkamer ) is responsible for verifying whether the appropriate 
procedures are followed in the case of alternative procurement , and reporting it if they are not . 
When preparing  its 2017 annual report, the Office was advised of  five cases where alternative 
procurement procedures were followed , and identified two that violated the conditions. The annual 
reports are publicly available , and provide details on the project, the ministry involved , and the 
amou nt involved . 
3.95.   Since the 2015 amendment of the Accounting Law, the number of alternative procurement 
cases reported to the Auditor's Office has decreased  considerably.  
3.96.   Individual ministries conduct their own procurements,  but the award of final contracts is  with 
the Council of Ministers. Tenders are mostly published nationally ; however,  foreign bidders are 
welcome to participate , as no specific barriers exist.  
3.97.   In the IDB Country Strategy Report 2016 –20 for Suriname, improved procurement 
procedures and a dedi cated law are identified as priorities. According to the Report, laws were 
drafted during the previous Country Strategy period 2011 -15, but they were not used or 
implemented because Suriname was experiencing a commodity boom.  
3.98.   In May 2017, C ARICOM  members a greed on a draft C ARICOM  Model Public Procurement Bill 
and a Protocol of Acceptance, with the objective of the progressive integration of national public 
procurement markets into a single, unified and open market. The Protocol will enter into force 
one month after it is ratified by at least five CARICOM  members. This threshold has not yet been 
met. 
3.3.7   Intellectual property rights  
3.99.   Suriname is a member of the World Intellectual Property Organization (WIPO), and has signed 
various international intellectual pr operty rights (IPR) treaties (Table 3.11). It is not a member of 
the Madrid Protocol.  
3.100.   Despite Suriname's membership of various IPR -related agreements, the rules and disciplines 
of these agreements are yet to be fully integrated into the country's legislati on. A draft IPR bill has 
been pending  for several years . In it, legislation regarding patents, trademarks, copyright, and the 
protection of innovations based on geographical indications is expected to  be included.   WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  3.101.   The National Assembly passed amendments t o the Copy right Law, 1913 in March  2015.28 
The amended Law offers the possibility of registering copyrights without specifying procedural 
matters.  
Table 3.11 Membership in intellectual property protection treaties, 2019  
Convention/agreement  Date of membership  
Berne Convention for the Protection of Literary and Artistic Works (1886)  23 February 1977  
Hague Agreement Concerning the International Deposit of Ind ustrial Designs 
(1925)  25 November 1975  
Nice Agreement Concerning the International Classification of Goods and Services 
for the Purposes of Registration of Marks (1957)  16 December 1981  
Paris Convention for the Protection of Industrial Property (1883)  25 November 1975  
Strasbourg Agreement Concerning the International Patent Classification (1971)  25 November 1975  
WIPO Convention  25 November 1975  
Source:  WIPO, Contracting Parties or Signatories to WIPO -Administered  Treaties . Viewed at: 
http://www.wipo.int/treaties/en/ShowResults.jsp?country_id=161C . 
3.102.   Suriname's IPR legislation grants protection for patents, copyrights, and trademarks 
(Table  3.12).  No protection is provided for industrial designs, utility models, geographical 
indications, layout -designs of integrated circuits, or undisclosed information.   
Table 3.12 Overview of IPR protection, 2019  
Coverage  Duration  Selected exclusions and limitations  Main legal sources  
Copyright     
Literary, 
scientific, or 
artistic works  50 years from 
the death of the 
creator of the 
work No protection granted to performers, 
producers of phonograms or broadcasting 
organizations; no retroactive protection ; 
no provisions on rental rights  Law of 22  March  1913 
concerning new 
copyright regulations, 
last amended in 2015 
Trade marks     
Marks for the 
distinction of a 
company's goods 
from the goods 
of another  Ten years from 
the date of 
filing, renewable  Services cannot be protected; protection of 
elements such as sound, perfumes, and 
containers is not provided for in the law; 
no protection is granted to signs that are 
contrary to public order or morality  Royal Decree No.  57 
of 29 August 1912, 
concerning provisions 
for trademarks, last 
amended in 2001  
Source:  WTO Secretariat.  
3.103.   Suriname notified the WTO that the Bureau of Intellectual Property is the contact point for 
IPR matters.29 Currently, the Bureau only registers trademarks, which are published in the 
Government Gazette. According to the authorities, approvals may take up to two years, the same 
as at the time of the previous TPR. As at end -2017, some 10,6 11 trademarks had been registered  
(Table  3.13). There is no administrative setting for the registration of other IPRs in Suriname.  
Table 3.13 Trademark applications and registrations, 2012 -17 
 2012  2013  2014  2015  2016  2017  
Applications        
Residents  234 218 210 159 155 183 
Non-residents  546 483 515 527 481 460 
Registrations        
Residents  182 161 202 369 176 265 
Non-residents  436 336 591 744 315 148 
Total registrations in force (end -of-year)  .. .. .. 9,721  10,280  10,611  
.. Not available.  
Source:  Information received from the  authorities.  
3.104.   Suriname's laws governing copyrights and trademarks do not mention parallel imports, and 
the Patent Law is not explicit as regards exhaustion of IPRs. In the context of Suriname's review of 
legislation in the TRIPS Council in 2001, the authorities noted th at, under Article 30 of the Patent 
                                                
28 Law of 17 April 2015, further amending  the Copyright Law of 1913 (G.B. 1913 No. 15, last amended 
in 1981) . 
29 WTO document IP/N/3/Rev.4/Add.3, 12 September 2000. The authorities indicated that, since 
May 2016, the Bureau is part of the MTIT.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Law, "importing without the consent of the patent right holder can be considered as an infringement 
of his right".30 However, the authorities indicated that, in practice, parallel imports are allowed.  
3.105.   Suriname's penal leg islation provides for the prohibition of trademark counterfeits and 
copyright piracy. There are no provisions for border protection against either. No further information 
about IPR enforcement was available.  
                                                
30 WTO document IP/C/W/283, 15 June 2001.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4  TRADE POLICIES BY SE CTOR  
4.1  Agriculture, Forestry, and Fisheries  
4.1.1   Agriculture  
4.1.1.1   Features  
4.1.  Agriculture is important to Suriname's economy; it accounted for about 17% of the 
economically active population and, together with forestry and hunting, contributed about 9% to 
GDP in 2017 after many years of decline where i t had fallen to 5.5% of GDP in 2013. In real terms, 
agriculture's gross value added increased by an average of 3% from 2010 to 2017, although there 
were significant fluctuations from one year to the next ( Table 4.1) driven by changes in both prices 
and production. In U.S. dollar terms, the gross value of production increased steadily up to 2013, 
when it reached a peak of USD  284 million, but then fell to USD 193 millio n in 2016.  
Table 4.1 Gross value added and gross production value, 2010 -17 
 2010  2011  2012  2013  2014  2015  2016  2017  
Gross value added for agriculture, 
hunting and forestry          
SRD current (million)  842 887 1,004  938 968 927 1,340  2,022  
SRD constant 2007 (million)  717 750 854 721 743 801 782 868 
Gross production value of agriculture          
SRD current (million)  634 822 873  938 892 848 1,203  ..  
USD current (million)  231  252 265 284  270  248 193  .. 
.. Not available.  
Source:  Central Bank . Viewed at: https://www.cbvs.sr/ ; FAOStat  database . Viewed at: 
http://www.fao.org/faostat/en/#home . 
4.2.  In terms of gross value of agricultural production in U.S. dollars, crops represent over 
three  quarters of the total value of production, and rice is the most impor tant single commodity – 
although vegetables, roots and tubers1 as a group now exceed it in value due to a combination of 
lower prices for rice and higher production of roots and vegetables. For bananas, after recovering 
from very low production in the earl y 2000s, the value of production grew to reach a peak of 
USD 38 million in 2009, but declined thereafter to USD 25 million in 2016. The value of livestock 
production declined by nearly 50% after reaching a peak of USD 94 million in 2012. This was due 
mainl y to a fall in production in general, and also in prices for chicken meat; lower prices also 
affected the value of beef production, even though volumes remained stable ( Table 4.2). 
Table 4.2 Gross value of  production, area and production quantity, 2007 -16 
  
2007  2008  2009  2010  2011  2012  2013  2014  2015  2016  
Crops  USD million  104.4  146.5  154.0  156.6  171.6  171.0  212.4  199.5  182.1  146.0  
Roots and 
vegetables  USD million  26.4  20.7  32.5  33.3  33.1  42.0  58.1  55.7  58.4  48.7  
'000 ha  1.5 1.5 1.5 1.5 1.5 1.6 2.3 2.8 2.7 2.9 
'000 tonnes  29.7 26.2 31.6 31.0 31.8 36.4 52.3 59.6 53.8 57.8 
Rice USD million  25.4  61.3  46.8  52.8  68.4  58.4  64.3  59.3  42.4  36.6  
 '000 ha   42.1   43.7   54.5   53.6   56.9   51.4   58.3   62.2   59.2   62.7  
 '000 tonnes  179.0  182.9  229.4  226.7  235.3  224.1  262.0  275.9  268.4  278.1  
Bananas  USD million  22.3  31.0  38.1  33.3  30.7  35.0  31.1  25.9  23.1  24.5  
 '000 ha   1.9   1.8   2.0   2.1   2.0   2.1   2.2   2.2   2.0   2.0  
 '000 tonnes   71.1   88.7   82.3   94.3   85.0   92.4   85.6   77.0   69.0   61.1  
Fruit USD million  17.5  16.7  20.5  20.5  27.8  24.2  41.6  35.7  37.2  22.2  
 '000 ha   2.3   1.9   2.1   2.1   1.7   1.7   2.0   2.2   2.0   1.7  
 '000 tonnes   24.2   21.7   21.9   24.7   24.4   23.7   30.3   29.9   26.5   24.3  
Coconuts  USD million  1.8  4.0  4.3  4.2  2.0  1.9  6.4  11.0  9.8  9.3  
 '000 ha   0.8   0.8   0.8   0.8   0.6   0.5   1.0   1.1   1.1   1.1  
 '000 tonnes   7.1   8.5   9.0   8.7   4.4   4.1   10.8   12.9   12.7   14.7  
Livestock  USD million  45.1  56.7  57.7  74.3  79.8  93.6  71.9  70.9  66.2  47.2  
Meat, chicken  USD million   28.8   34.7   37.7   40.4   45.6   52.1   35.2   36.8   33.5   22.4   
'000 tonnes   11.2   8.3   10.9   11.3   10.0   10.9   7.9   8.4   8.9   7.9  
                                                
1 Where roots and vegetables include tubers and correspond to FAO categories: beans, green; cabbages 
and other brassicas; cassava; cucumbers and gherkins; plantains and other; pulses, n.e.s.; roots and tubers, 
n.e.s.; sweet potatoes; tomatoes; and vegetables, fresh n.e.s.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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2007  2008  2009  2010  2011  2012  2013  2014  2015  2016  
Meat, cattle  USD million  6.1  6.5  7.2  8.4  10.4  11.4  10.4  10.6  9.5  6.8  
 '000 tonnes   1.6   1.7   1.9   1.9   1.9   1.9   1.7   1.7   1.5   1.9  
Note:  FAOStat indicate d significan t production of sugar cane, while Agriculture Statistics 2011 -16 indicated 
no sugar cane was cultivated.  
Source:  FAOStat  database . Viewed at: http://www.fao.org/faostat/en/#home ; and Ministry of Agriculture, 
Animal Husbandry and Fisheries (2017), Agricultural Statistics 2011 -16, August.  
4.3.  About 10% of the total land area of 16.4 million ha in Suriname is suitable for agriculture, 
although only 120,000 ha are used, mostly along the coast; subsistence farming is carried out in 
the interior. The total area under cro p was 70,558 ha in 2016, nearly all of which was used for rice, 
even though the area used for growing roots and vegetables, and coconuts increased. The majority 
of farmers are small -scale, with about half of the area under crop being farms of less than 12  ha.2 
4.1.1.2   Trade  
4.4.  Suriname has a deficit for trade in agricultural products (WTO definition3). Based on data from 
its trading partners, in 2017, exports were valued at USD 97 million and imports at USD  197 million.4 
Exports are concentrated in a small number of products, with bananas (HS 0803) representing over 
half, and rice (HS  1006) more than one quarter  of all agricultural exports. Over the 2012 -17 period, 
exports peaked at USD 120 million in 2014, but declined s harply the following year, and then 
recovered. Exports of bananas, in particular, fell from USD 73 million to USD 49 million, with a 
steeper decline in volume exported which fell by more than half to 54,000  tonnes. On the other 
hand, exports of rice and ci garettes increased significantly.  
4.5.  The destination for exports depends on the product, with most of the bananas and vegetables 
going to the European Union, rice to Jamaica and Brazil, and cigarettes to Mauritania.  
4.6.  Imports are much more diversified than expo rts, with the top ten imports representing less 
than half of total imports of agricultural products. The value of imports also fluctuated significantly 
during the 2012 -17 period, with a 75% fall in 2015 compared to 2014. Frozen chicken meat and 
food prepar ations for infants, mostly from the United States, followed by whiskies, mostly from the 
European Union, are the most important imports ( Table 4.3).  
Table 4.3 Imports and exports of agricultural products, 2012 -17 
HS   2012  2013  2014  2015  2016  2017   
Total imports of 
agricultural products  USD m illion 240.97  272.65  269.46  70.40  192.92  197.35  
020714  Frozen chicken meat  USD m illion 
'000 t  20.42  23.51  25.40  3.90  17.08  20.15    
15,984  18,386  19,791  2,310  11,348  20,371  
190110  Food preparations; … for 
infant use  USD m illion 10.63  14.08  11.08  0.73  12.09  14.71   
'000 t  1,873  1,648  1,183  253  2,327  1,641  
220830  Whiskies  USD m illion 13.12  17.46  17.57  0.54  14.00  11.67    
'000 t  1,122  1,803  1,676  49  1,395  997  
210690  Food preparations; n.e.c. in 
item No. 2106.10  USD m illion 12.53  13.12  14.77  5.31  13.37  8.98   
'000 t  3,284  3,387  3,672  1,704  3,110  2,958  
230990  Dog or cat food; (not for retail 
sale) USD m illion 3.40  3.97  9.72  2.22  4.63  6.83   
'000 t  3,196  3,817  15,038  7,303  6,833  11,128  
150790  Soya-bean oil and its 
fractions, other than crude  USD m illion 14.34  16.03  9.14  3.57  6.77  6.03   
'000 t  9,226  11,435  8,422  3,136  6,625  5,403  
040221  Milk and cream, concentrated, 
of a fat content exceeding 
1.5% (by weight)  USD m illion 5.65  6.94  6.33  1.24  4.58  5.81   
'000 t  1,488  1,422  1,347  442 1,637  1,633  
200811  Ground -nuts  USD m illion 5.48  3.85  5.40  0.00  5.36  5.73    
'000 t  1,640  1,298  2,421  0  2,363  2,961  
220300  Beer USD m illion 5.79  6.29  6.83  5.19  4.99  5.31    
'000 t  6,061  7,290  7,294  6,767  5,925  5,982  
220210  Waters; sweetened or 
flavoured  USD m illion 
'000 t  7.71 
7,230  8.32 
7,754  7.04  
6,541  0.08 
71 5.01  
5,636  5.29 
6,346  
                                                
2 Ministry of Agriculture, Animal Husbandry and Fisheries (2017), Agricultural Statistics 2010 -16, 
Table  A-1. 
3 For the purposes of this Section of the Report, the definition of agriculture products  used is that set 
out in Annex 1 of the Agreement on Agriculture , where fish and fish products are taken to include HS Headings 
0208.40, 03, 0511.91, 1504, 1603, 1604, 1605, and 2301.20. Fisheries are addressed in Section 4. 1.2. 
4 As of November 2018, Comt rade export data reported by Suriname did not in clude data for 2015, and 
included some anomalies, such as no exports of bananas  for any year since 2010.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  HS   2012  2013  2014  2015  2016  2017   
Total exports of 
agricultural products  USD m illion 94.16  94.87  120.45  88.32  97.28  96.90  
080390  Bananas, fresh or dried  USD m illion 73.18  73.95  71.04  53.91  60.68  48.52    
'000 t  108,181  102,40
3  93,463  81,690  73,462  53,677  
100630  Rice, semi -milled or wholly 
milled  USD m illion 
'000 t  1.78  3.44  9.79  7.71  9.08  15.87  
3,159  5,901  18,765  14,051  21,370  36,838  
240220  Cigarettes  USD m illion 0.00  0.07  0.23  0.19  1.30  11.61    
'000 t  0  35  19  18  106  1,100  
100640  Rice, broken  USD m illion 0.70  0.75  9.03  9.96  6.86  4.66    
'000 t  1,315  1,575  14,757  21,929  17,864  11,073  
070999  Vegetables; edible, n.e.c. in 
chapter 07, fresh or chilled  USD m illion 3.09  3.07  3.15  2.87  3.02  3.15   
'000 t  955  958  1,052  1,064  1,112  1,191  
100620  Husked (brown) rice  USD m illion 8.11  6.04  14.55  3.90  7.33  2.93    
'000 t  13,284  10,520  24,437  7,000  19,950  7,980  
100610  Cereals; rice in the husk 
(paddy or rough)  USD m illion 0.00  0.09  2.25  1.73  1.82  1.81   
'000 t  0  130  4,176  3,530  5,114  4,853  
220300  Beer; made from malt  USD m illion 0.38  0.53  0.65  0.58  0.63  0.71    
'000 t  303  397  531  542  600  619  
210390  Sauces and preparations; 
mixed condiments and mixed 
seasonings  USD m illion 0.29  0.34  0.29  0.34  0.35  0.70   
'000 t  142  182  151  200  190  304  
010619  Mammals; live, … camels, 
other camelids, rabbits and 
hares  USD m illion 0.01  0.01  0.00  0.00  0.02  0.53   
'000 t  0  0  0  0  0  1  
Source:  UNSD Comtrade (based on data from Suriname's trading partners ). 
4.1.1.3   Policies  
4.1.1.3.1   General  
4.7.  The Ministry of Agriculture, Animal Husbandry and Fisheries (LVV) is the main government 
authority responsible for agricultural policy, while responsibility for several specific issues related to 
agriculture is shared with other ministries including the mi nistries of: Regional Development; Foreign 
Affairs; Spatial Planning, Soil and Forest Management; Justice and Police; Public Works, Transport 
and Communication; Natural Resources ; Trade , Industry  and Tourism ; Education , Science and 
Culture ; Public Health; and Labour . 
4.8.  Within the LVV, there are several sub -directorates responsible for extension services and some 
research, particularly focused on fruits, vegetables and ornamental flowers and crops on the coastal 
plain. The Anne van Dijk Rice Research O rganization (ADRON) under the National Rice Research 
Institute Foundation (SNRI) is responsible for research on rice, while the function of distributing rice 
seeds was transferred to the SNRI. The Center for Agricultural Research in Suriname (CELOS) in the  
Anton de Kom University carries out research into forestry and crops, particularly crop production in 
the interior of Suriname and integrated agricultural production systems.5 
4.9.  At the time of the last Review, agricultural policy was set out in the Multi -annual Development 
Plan 2012 -16, the LVV Policy Note 2010 -15, and a series of nine white papers published in 2011. 
Since then, a National Agricultural Innovation Strategy of the Republic of Suriname of 
September  2013, a National Master Plan for Agricultural Development of 2016, and the 
2017-21 Policy Development Plan were published.  
4.10.   The Master Plan sets out a number of proposals for agriculture and rural development which 
are to be used for the development of a more detailed five -year plan.6 The main objectiv es in the 
Master Plan include: reducing imports; increasing exports; developing the food processing industry; 
creating employment opportunities, particularly for the younger generation and for women; 
improving productivity through increasing farm size and better use of technology; diversifying into 
new high -value products along with bananas and rice, and diversifying into agriculture -related 
activities such as agro -tourism; and improving infrastructure. At the same time, the Master Plan 
                                                
5 Ministry of Agriculture, Animal Husbandry and Fisheries (2013), The National Agricultural Innovation 
Strategy of the Republic of Suriname , September, Paramaribo.  
6 Derlagen, C., Tas, J., Boyce, R. A., Shik , O., Paolo de Salvo , C. (2017), Agricultural polici es in 
Suriname , IDB Monograph 540, p. 19.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  recognizes the need to pay attention to the use of forested land, and maintain family -based farming 
while integrating it into the commercial sector.7 
4.11.   The Agricultural Innovation Strategy focuses on research and extension services for 
agriculture, with an action plan which inc ludes: the establishment of an Agricultural Innovation Board 
in the LVV; the reorganization of the extension service; the development of innovation projects and 
the adoption of a project mode of operation; a strategy for international linkages; and the 
development of infrastructure and human resources plans.8  
4.12.   Under the Policy Development Plan, agricultural strategy is to follow two tracks, one for 
medium and large -scale agriculture, and the other for small farms. For small farms, the Plan states 
that the Government's role should be to provide basic infrastructure, such as roads, and to take 
measures to ensure adequate facilities for storage, processing and preservation of products so that 
surplus output can be sold domestically and exported to neighbou ring countries and other countries 
in the region. Responsibility for production decisions should rest with the producers themselves. 
Large -scale agriculture, which is primarily banana and rice production, is already relatively 
well-developed and open to ex pansion, as the main factors of production (land and water) are readily 
available and the diseases or pests affecting these crops are manageable. For this subsector, the 
Plan intends to address several constraints to production, such as relatively high lab our costs, high 
freight costs, and the relatively high costs of inputs. In addition, further development depends on 
improving research and development.9  
4.1.1.3.2   Trade policies  
4.13.   Suriname's bound tariffs are 20% for nearly all agriculture goods , with a simple averag e of 
19.8% and a 50% ceiling on other duties and charges. Suriname did not reserve the right to use the 
special agricultural safeguard or to use export subsidies , and made no commitments on tariff quotas.  
It made no notifications on export subsidies since 2001, when it stated that no export subsidies had 
been provided to agricultural products in the years 1995 -2001.10 Rice exports are subject to a charge 
of SRD 10 per tonne.  
4.14.   While imports from other CARICOM States are duty -free, the MFN applied tariff on agr icultural 
products (WTO definition) varies from zero to 50%, with a simple average of 19.5% and a median 
rate of 40% (Section 3.1.3). For 221 agricultural tariff lines (at the six -digit level), the applied rate 
exceeds the bound rate. Applied rates vary co nsiderably from one product category to another and 
within some product categories; for example, the applied rate for the five tariff lines for cotton is 
5%, but the 306 tariff lines for fruit, vegetables and plants range from 0 to 40%. A request for 
negot iations under Article  XXVIII of GATT was withdrawn in January  2012.11  
4.1.1.3.3   Domestic policies  
4.15.   Suriname never made any notification on domestic support to the WTO. According to the IDB, 
most support to agriculture in most years of the period 2009 -14 was general s upport (knowledge 
and innovation, inspection and control, and development and maintenance of infrastructure), of 
which nearly all was provided for the development and maintenance of infrastructure. Agriculture in 
Suriname also benefits from assistance from  other countries, including the European Union. Under 
the 11th European Development Fund's Annual Action Programme for Suriname, EUR  13 million was 
provided for agriculture, to be implemented through the FAO.12 
4.16.   The Agricultural Bank ( Landbouwbank ) operates the state -owned Agricultural Credit Fund 
(Agrarich Krediet Fonds – AKF), which was established in 2007 and provides low -interest loans to 
farmers. When established, the AKF was funded by EUR 2.3 million, then received an additional 
                                                
7 Ministry of Agriculture, Animal Husbandry and Fisheries (2016 ), The National Master Plan for 
Agricultural Development in Suriname , March, Paramaribo.  
8 Ministry of Agriculture, Animal Husbandry and Fisheries (201 3), The National Agricultural Innovation 
Strategy of the Republic of Suriname , September, Paramaribo.  
9 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, pp.  85-93. 
10 WTO document G/AG/N/SUR/1, 12 December 2001.  
11 WTO d ocuments G/SECRET/17 of 30 October 2002; and G/SECRET/17/Add.2 of 13 January 2012.  
12 European Commission Decision of 30 November 2016, C(2016) 7880 Final, on the Annual Action 
Programme 2016 in favour of Suriname, to be financed from the European Developme nt Fund.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  EUR 1 million in 2011 and SRD 10 million in 2018. Loans of up to SRD 500,000 for rice producers 
and SRD  200,000 for other agricultural producers are available. In 2017, it was reported that interest 
rates on AKF loans were 6.75%, compared to 11 to 13% for commercial loans.13 
Rice 
4.17.   Rice is the most important agricultural product , occupying most of the area currently under 
cultivation , and the second most important agricultural export after bananas. Production quantities 
increased considerably over the 2010 -16 period , reach ing 278,1 00 tonnes , although this is lower 
than the peak of 327,00 tonnes in 1985. Production is concentrated in the coastal areas , with about 
80% of the total area under cultivation is in the Nickerie district.  
4.18.   In addition to improving access to finance through t he AKF, government policy is focused on 
better infrastructure through the Ministry of Public Works, Transport and Communication, and 
research and seeds through the ADRON and the SRNI. According to the Central Bank, the growth in 
production and exports in 2 014 was partly the result of government support for improving irrigation 
and bringing new land under cultivation.14 
4.19.   Direct support measures for rice cultivation varied from one year to the next, and included 
direct payments based on output, direct payments based on area, and fuel subsidies; indirect 
support is also provided through research and infrastructure programmes ( Table 4.4). However, 
export (f.o.b.) prices are h igher than producer prices, leading to negative market price support 
which, along with the export charge, is greater than the value of other support. According to one 
report, relatively high producer prices may be due to high milling costs and high transpo rt costs 
from the producing region to the port of Paramaribo.15 In 2016, the farm gate price for wet rice was 
SRD 820 per tonne, and the average export price was SRD 1,950 per tonne.16 Since 2016, no 
subsidies were paid.  
Table 4.4 Rice policies, 2013 -18 
 2013  2014  2015  2016  2017  2018  
Export tax  SRD 10 /tonne  SRD 10 /tonne  SRD 10 /tonne  SRD 10 /tonne  SRD 10 /tonne  SRD 10 /tonne  
Output 
subsidies  SRD 2.13/  
79 kg bag  0 0 0 0 0 
Area payments   SRD 480/ha for 
farms of 1 -200 ha  SRD 230/ha  0 0 0 
Input subsidies    1 bag NPK/ha  
1 bag urea/ha  0 0 0 
Total cost  SRD 2.8 million  SRD 12.4 million  SRD 3.3 million  0 0 0 
Source:  Derlagen , C., Tas, J., Boyce , R.A., Shik , O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monograph  540. 
Bananas  
4.20.   Bananas are the most important agricultural export from Suriname, with nearly all exports 
going to the European Union. As noted in the last Review, production declined to almost zero in 2002 
following the collapse of th e state -owned producer, Surland NV; they then recovered under the 
state-owned Stichting Behoud Bananen Sektor (SBBS) and with the help of support from the EU 
Special Framework of Assistance (SFA) for traditional suppliers of bananas among the African, 
Caribbean and Pacific (ACP) countries. The SFA operated from 1999 to 2008, with an average of 
EUR 2.18 million per year for Suriname and, in 2012, the European Union provided additional funds 
for some ACP producing countries under the Banana Accompanying Measu res (BAM) programme for 
                                                
13 Derlagen, C., Tas, J., Boyce, R.A., Shik, O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monogra ph 540 , pp. 44-45. AKF krijgt financiële boost , (2018), De Boodschap, 3 April. Viewed 
at: https://www.deboodschap.today/agrarisch -krediet -fonds -krijgt -financiele -boost/ . 
14 Central Bank (2016), Jaarverslag 2014 , p. 9. 
15 Derlagen , C., Tas, J., Boyce , R.A., Shik , O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monograph 540, pp. 55-56. 
16 Ministry of Agriculture, Animal Husbandry and Fisheries (2017), Agricultural Statistics 2010 -16, 
Tables A -3 and A -7. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  2012-13. According to the European Commission, a total of EUR  22 million was provided over 
ten years to the banana industry in Suriname.17 
4.21.   In January 2014, the SBBS was privatized, with Univeg NV (now the Greenyard Fresh segment 
of Greenyard NV) acquiring 90% of the shares and the remaining 10% owned by the State of 
Suriname. Within Greenyard, the Fruit Farm Group operates the Food and Agriculture Industries 
(FAI), which replaced the SBBS, with two plantations and a total of 1,810 ha under cultivation.  
4.22.   Since privatization, the area under cultivation, production and exports declined, with the FAI 
incurring losses for a variety of reasons, including: a strong U.S. dollar, which is required for inputs, 
relative to the euros earned from s ales; labour unrest after privatization; lower prices; and declining 
yields, partly due to disease in one plantation.18 In addition, the company no longer qualifies for an 
exemption from import duties on petroleum.19 
4.23.   According to the 2017 -21 Policy Development Plan, natural advantages, such as low incidence 
of hurricanes and land availability, along with access to preferential markets and availability of 
external financing, should benefit banana production. It also states that the FAI should overcome  
initial losses with support from the Government by means of tax incentives.20 Tax incentives granted 
to the FAI amounted to SRD 1.43 million in 2014, the last year for which figures were provided.  
Livestock  
4.24.   Suriname is a net importer of meat, with practically all production going to meet domestic 
consumption. The country is free of foot -and-mouth disease and doesn't vaccinate , which should 
help exports. Unlike rice and bananas, livestock and livestock products are produced mainly on small 
farms as a  part-time activity. According to the Government, there are only five large -scale cattle 
farms in Suriname21, and a report for the IDB stated that there are about 1,000 cattle farms but 
only six have herds of more than 200 animals.22 
4.25.   To some extent, the sect or is also dependent on imports of feed, particularly as chicken is the 
most popular meat and chickens are raised on feed; beef consumption, based on grass -fed cattle, 
is much lower.  
4.26.   Apart from providing veterinary, research, and extension services, and in frastructure, the 
Government does not support meat or egg production. Government policy is directed towards 
improving these services and increasing the scale of production, with the aim of eventually 
competing in the regional market.  
4.27.   In contrast to other l ivestock products, the milk market is regulated, with farmgate and retail 
prices set by the LVV and the MTIT; the farmgate price is determined by a committee which includes 
the two ministries and representatives of the dairy farming organizations (the Unio n of Dairy Cattle 
Farmers and the Association of Surinamese Dairy Farmers). In September 2017, the minimum price 
for raw milk was increased from SRD 3.00 to SRD  3.50 per litre, and the retail price from SRD 6.25 
to SRD 8.50.23 The Melkcentrale Paramaribo, w hich is state -owned through the Investment and 
Development Corporation Suriname, is required to purchase all milk offered for sale by producers, 
at the minimum price. However, the quantity purchased declined from over 5 million litres in 2011 
to less than 2.95 million litres in 2017.  
                                                
17 European Commission. Viewed at:  https://ec.europa.eu/europeaid/countries/suriname_en . 
18 The Fruit Farm Group. Viewed at: https://www.thefruitfarmgroup.com . Greenyard NV  (2018), 
Financial Report 2017 -18. Viewed at:  https://www.greenyard.group/investor -relations/financial -information . 
Central Bank (2016), Jaarverslag 2014 , p. 9. 
19 Derlagen, C., Tas, J., Boyce, R.A., Shik, O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monogra ph 540 , pp. 28-29. 
20 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, p.  108. 
21 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, p.  108. 
22 Derlagen, C., Tas, J., Boyce, R.A., Shik, O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monogra ph 540 , pp. 34-36. 
23 GFC Nieuws (2017), 1 liter melk vanaf 1 september SRD 8.50 . Viewed at: https://gfcnieuws.com/1 -
liter-melk-vanaf -1-september -srd-850/. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Fruits and vegetables  
4.28.   Over half of the value of crop production is from fruit and vegetables (including roots and 
tubers), most of which are produced on small farms with output sold on the local market. While most 
state support  is indirect, through infrastructure, research and development, and extension and 
training services, there are a number of other state -supported measures intended to encourage 
production. A cassava flour factory was established by Innovative Agro Processin g Industries NV 
(IAP), with a government -backed loan. It opened in 2012, and was transferred to the Government 
in 2013. However, it processes only a small proportion of the total amount of production of about 
7,000  tonnes.24 In 2014, the Government granted loans of SRD 2.4 million for the buying and 
processing of cassava.  
Value of support  
4.29.   There were no notifications on domestic support by Suriname to the WTO. However, the IDB 
estimated support values based on the OECD's methodology for calculating the produc er support 
estimate (PSE) and other indicators. This report shows that the greatest amount of support for most 
products is in the form of market price support, arising from trade measures which make domestic 
prices higher than international reference price s; however, for rice, market price support is negative, 
as domestic prices are lower than international ones. Nearly all general support is for the 
development and maintenance of infrastructure ( Table 4.5). 
Table 4.5 Support estimates for agriculture, 2008 -14 
(SRD million)  
 2008  2009  2010  2011  2012  2013  2014  
Total value of production  518.18  559.61  585.56  734.01  763.15  757.44  799.02  
        
PSE 19.54  108.41  129.13  - 23.06  94.49  131.98  60.06  
 Market price support  19.54  103.54  127.49  - 24.85  89.87  113.56  41.48  
 Rice - 37.19  - 14.60  6.91  - 123.92  - 44.91  - 60.51  - 81.50  
 Oranges  7.23  18.07  18.48  40.73  40.14  73.57  33.48  
 Eggs 4.17  12.03  14.07  13.87  29.09  23.42  27.97  
 Beef and veal  6.12  8.45  8.68  14.05  18.58  20.07  20.87  
 Poultry meat  16.62  30.12  25.34  8.31  - 0.05  14.23  14.04  
 Payments based on inputs  0 4.88 1.63 1.79 1.78 6.03 15.25  
General services support estimate  0  119.41  70.57  71.01  83.31  96.14  145.03  
 Infrastructure  0 103.28  63.10  57.67  81.06  84.59  138.72  
Total support estimate  19.54  233.90  206.02  60.52  189.32  241.76  215.09  
Source:  IDB Agrimonitor , PSE Agricultural Monitoring System . Viewed at: 
https://mydata.iadb.org/idb/dataset/2dqw -u35p/about . 
4.1.2   Fisheries  
4.1.2.1   Features  
4.30.   Fisheries are importan t to the economy, with a gross value added of SRD 816 million 
(Table  4.6) or 3.6% of GDP in 2017 compared to 2.3% in 2012. They are also important for 
employment, with about 3,800 employed in fishing and 2,300 in processing and other secondary 
activities.  
4.31.   The fishing sector is made up of artisanal and industrial fishers, in deep sea, coastal, brackish 
and freshwaters, using a variety of different types of boats, from canoes to trawlers, and gear. About 
three quarters of the catch is taken by the artisanal fleet. In weight terms, the total catch increased 
from 35,000 tonnes in 2010 to over 47,000 tonnes in 2016, due to an increase in marine fish catch 
(species unidentified) and as Suriname began to catch blue shark and tuna (mostly yellowfin). The 
shrimp cat ch (mostly Atlantic seabob  - Xyphopenaeus kroyeri ) remained broadly constant. 
Aquaculture is much smaller than catch fishing, with total production of 102  tonnes in 2016, mostly 
cachama ( Colossoma macropomum ), compared to 422 tonnes in 2001 when it was nea rly all shrimp 
(Table 4.7).  
                                                
24 Derlagen , C., Tas, J., Boyce , R.A., Shik , O., Paolo de Salvo , C. (2017), Agricultural policies in 
Suriname , IDB Monogra ph 540 , pp. 30-33. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table 4.6 Gross value added and gross production value, 2010 -17 
 2010  2011  2012  2013  2014  2015  2016  2017  
Gross value added for fisheries          
SRD current (million)  293 375 374 503 620 554 565 816 
SRD constant 2007 (million)  287 299 302 331 347 334 369 419 
Source:  Central Bank . Viewed at: https://www.cbvs.sr/ . 
Table 4.7 Fish catch and aquaculture, 2010 -16 
(Tonnes ) 
 2010  2011  2012  2013  2014  2015  2016  
Total catch  35,156  35,586  39,338  39,448  38,511  44,827  47,115  
of which         
 Shrimps, prawns  8,876  9,037  9,180  9,030  6,340  6,890  8,080  
 Marine fish  25,717  25,950  26,200  25,913  26,473  31,852  34,147  
 Blue shark  0  0  181  326  383  195  344  
 Tuna, bonitos, billfishes  0  0  3,153  3,012  4,269  4,734  3,436  
Aquaculture  71 96 74 79 83 122 102 
of which         
 Cachama  0 0 0 0 7 51 71 
 Crustaceans  68 87 70 77 74 69 29 
Source:  FAO Fisheries and Aquaculture Department databases. Viewed at: 
http://www.fao.org/fishery/topic/16140/en . 
4.32.   Over the period 2010 -16, the total number of licences issued for commercial vessels in the 
fishing fleet varied considerably from year to year. In 2016, a total of 221 licences were issued for 
commercial vessels, 395 for coastal vessels (SK licences), and 569 for inland/river mouth vessels 
(BV licences) ( Table 4.8).  
Table 4.8 Number of licences issued, 2010 -16 
 2010  2011  2012  2013  2014  2015  2016  
Shrimp trawler  25 26 25 23 13 20 22 
Seabob trawler  20 19 22 22 22 22 22 
Fish trawler  20 21 23 23 19 25 23 
Large pelagic line  9 8 16 32 30 30 30 
Snapper and mackerel  65 40 49 66 42 5 124 
Total commercial fleet  139 114 135 166 126 102 221 
Closed Guyana boat  52 52 63 65 64 63 65 
Open Guyana boat  242 223 279 315 294 312 292 
SK Bangamary  37 43 41 42 42 43 41 
Total coastal fleet  331 318 383 422 400 418 395 
BV Chinese seine  252 340 260 291 333 184 206 
BV long line  13 15 4 3 4 7 9 
BV drift net  119 65 72 52 68 81 59 
BV sport  186 362 230 241 265 271 230 
Lagoon gillnet  72 86 69 25 67 65 63 
Other  21 34 25 18 25 14 2 
Total inland/river mouth  663 902 660 630 762 622 569 
Source:  Suriname authorities.  
4.33.   Most landings are made in or near Paramaribo where most of the facilities are situated. 
Two state-owned companies, Suriname American Industries Limited (SAIL) and the Central Fisheries 
Port Suriname (CEVIHAS), and several private enterprises have their own  port facilities and provide 
services to the fishing fleet. SAIL and Heiploeg Group operate the Suriname Atlantic seabob shrimp 
fishery, which has Marine Stewardship Council certification until 2022.  
4.34.   Suriname is a net exporter of fish and fish products, w ith a total value of exports of 
SRD 169 million in 2016. In value terms, frozen shrimp and prawns, and fish fillets are the main 
exports ( Table 4.9). The principal des tinations for exports are: the United States; the Netherlands; 
Jamaica; and Hong Kong, China.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table 4.9 Export quantities and values, 2011 -16 
  2011  2012  2013  2014  2015  2016  
Fresh fish and fish parts  Tonnes  7.6 6.7 8.5 13.7 12.1 8.1 
 SRD m illion 12.1 10.7 13.3 23.5 19.0 18.4 
Frozen fish and fish parts  Tonnes  11.0 8.4 12.9 10.3 12.0 12.1 
 SRD m illion 21.3 16.9 25.9 20.4 22.7 40.5 
Fish fil lets Tonnes  3.3 3.5 4.2 4.9 5.0 4.2 
 SRD m illion 23.6 24.0 30.2 35.4 36.0 51.7 
Smoked, dried and salted  Tonnes  0.1 0.0 0.0 0.2 0.1 0.1 
 SRD m illion 0.9 0.4 0.4 0.9 1.0 0.9 
Frozen shrimp and prawns  Tonnes  3.6 3.1 4.0 2.7 3.1 3.6 
 SRD m illion  52.7 44.9 53.6 38.2 45.3 56.4 
Other crustaceans  Tonnes  0.0 0.0 0.0 0.0 0.0 0.0 
 SRD m illion 0.6 0.2 0.6 0.7 0.2 0.8 
Total value  SRD million  111.2  97.2 124.0  119.0  124.2  168.7  
Note:  0.0 means less than 0.05 but greater than 0.  
Source:  LVV (2017), Agricultural Statistics 2010 -16, Tables  A-3 and A -7. 
4.1.2.2   Policies  
4.35.   The Fisheries Department in the LVV is the main government agency responsible for 
developing and implementing fisheries policies. In addition:  
• the Maritime Authority of Suriname, established in 2002 under the Maritime Authority Act, 
is responsible  for the registration of fishing vessels and the supervising thereof;  
• the Fish Inspection Institute (VKI), established in 2007 by the LVV, is the authority 
responsible for: quality inspections of fishery products; hygiene inspections of the food 
chain from fishing vessels and landing sites, to processing facilities and trans port; and the 
registration of landing sites and commercial aquaculture; and  
• the Suriname Coast Guard, under the Ministry of Home Affairs, is responsible for at -sea 
inspections of fishing vessels in Surinamese waters.  
4.36.   The current legislation covering fishe ries includes:  
• the Fisheries Resources Protection Act GB 1961 No. 4,  which was revised in 1981, and the 
Fish Stock Protection Decree GB 1961 No. 101 prohibit fishing within territorial waters 
except during the fishing seasons, and includes the procedures f or fishing licences in inland 
waterways;  
• the Sea Fisheries Act SB No. 144, 1980, which was last revised in 2017, provides the legal 
basis for the regulation of fishing, requires that all fishing vessels be licensed, and includes 
the procedures for fishing licences for fishing in the territorial waters and the Exclusive 
Economic Zone;  
• the Coast Guard Act SB No. 32, 2017 established the Coast Guard; and  
• the Maritime Zones Act SB No. 41, 2017, amending the Exclusive Economic Zones Act, 
1978, states that Surina me has full jurisdiction for the territorial sea (12 nautical miles), 
limited jurisdiction for the contiguous zone (24  nautical miles), and the Exclusive Economic 
Zone (200 nautical miles). In addition, the Act states that the State has sovereign rights 
over all natural resources of the continental shelf.25 
4.37.   The legislation on capture fisheries is currently being updated with assistance from the FAO, 
which has stated that the objective is to address shortcomings in the legal framework. These are 
related to th e absence of clear licensing procedures for marine capture fisheries,  an inadequate 
                                                
25 De Nationale Assemblée. Viewed at: http://www.dna.sr/wetgeving/surinaamse -wetten/wijzigingen -
na-2005/ ; and Smith, G., Burkhardt, D. (2017), Socio -economic Study of the Fisheries Sector in Suriname , 
WWF, Guianas . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  framework for carrying out effective monitoring, control and enforcement, and the lack of a 
sufficiently detailed legal framework for inland fisheries, resulting in conflic ts of resource users and 
misinterpretation of existing legislation.26 
4.38.   Suriname is a Party to several international laws and conventions, including:  
• United Nations Convention on Law of the Sea (UNCLOS), 1982;  
• Convention on Biological Diversity (CBD);  
• Convent ion on International Trade in Endangered Species of Wild Fauna and Flora (CITES), 
1973;  
• Ramsar Convention (Convention on Wetlands of International Importance), 1971;  
• United Nations Conference on Straddling Fish Stocks and Highly Migratory Fish Stocks, 
1995; 
• Cartagena Protocol on Biosafety to the CBD, 2000;  
• United Nations Fish Stocks Agreement, 2001;  
• Rio Declaration on Environment and Development;  
• International Convention for the Prevention of Pollution from Ships (MARPOL);  
• Caribbean Environmen t Program (CEP ); 
• FAO Code of Conduct for Responsible Fisheries, 1995; and  
• Reykjavik Declaration on Responsible Fisheries in the Marine Ecosystem, 2001.  
4.39.   However, it has yet to ratify the FAO Compliance Agreement, 1993 , the UN Fish Stocks 
Agreement , 1995, and the FAO Port State Measures Agreement , 2009. It is also a member of, or 
party to , several international or regional fishery bodies , including: the Caribbean Regional Fisheries 
Mechanism (CRFM); the Commission for Inland Fisheries and Aquaculture of Latin America a nd the 
Caribbean (COPESCAALC); the International Commission for the Conservation of Atlantic Tunas 
(ICCAT); the International Whaling Commission (IWC); and the Western Central Atlantic Fishery 
Commission (WECAFC).  
4.40.   General policy for fisheries is set out in  the Fisheries Management Plan for Suriname 2014 -18, 
the main objective of which is to preserve the biological diversity of marine resources and their 
sustainable exploitation. According to the Plan, sustainable exploitation requires control of the fishing  
fleet capacity, reduction of unwanted bycatch and bycatch of protected species, greater use of new 
fishing methods, improved control and monitoring, better quality control for exports of fish and fish 
products, better data, and greater resilience of stake holders. While a new fishing law is being 
drafted, the Plan will continue to be implemented. Although the Plan includes a number of specific 
measures related to fisheries management (such as registration, licensing and monitoring of fishing 
vessels, landin g obligations, and protected areas), it also states that a specific plan for fisheries 
control is to be developed.27 
4.41.   The 2017 -21 Policy Development Plan states that the Fisheries Management Plan is to be 
implemented as an important instrument for fisheries development and to ensure sustainable 
                                                
26 FAO (2016), FAO Technical Cooperation Programme – Updating Suriname's capture fisheries legal 
framework, Project TCP/SUR/3502.  
27 LVV (2013), Visserij Management Plan voor Suriname 2014 -18, Directorate for Fisheries, 27 June. 
Viewed at: http://www.gov.s r/media/968160/visserij_management_plan_voor_suriname.pdf . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  fishing. It also states that bycatch and discard must be reduced and non -selective fishing methods 
discouraged, while aquaculture should be encouraged and new legislation introduced.28 
4.42.   All fishing activities, except for  recreational fishing with a rod or hand line, require a licence. 
The conditions applied to fish licences are determined annually by ministerial decree, as provided 
for in Article 17 of the Sea Fisheries Act. The decree sets out the fishing zones, permitte d fishing 
gear, and other conditions. There are several types of fishing licence: BV and SK licences are for 
artisanal fishers in small boats for inland (BV licences) and coastal fishing (SK licences); while deeper 
water commercial fishing requires an SA, SB, or SC licence ( Table 4.8). No information was available 
on the cost of fishing licences.  
4.43.   All industrial fishing vessels are required to have a Vessel Monitoring S ystem, which 
automatically provides data for each vessel on its position, speed and direction, and all catches must 
be delivered to designated landing sites. After each landing by a commercial vessel, data on the 
catch is sent to the Fisheries Department, while data on artisanal vessels is collected from a sample 
of landings.29 
4.44.   The Caribbean Regional Fisheries Mechanism, established in 2002 and in force since 2003, 
developed the First Strategic Plan for 2003 -11, and prepared a provisional second Plan for 201 3-21. 
The goal of the second Plan is to establish measures for the conservation, management, sustainable 
utilization and development of fisheries resources and related ecosystems; build capacity amongst 
fishers and optimize the social and economic returns from their fisheries; and promote competitive 
trade and stable market conditions. The second Plan includes objectives relating to sustainable 
management of fisheries resources, in line with the Code of Conduct for Responsible Fisheries 
(CCRF), the Caribbea n Community Common Fisheries Policy (CCCFP), and the Castries Declaration 
on Illegal, Unreported and Unregulated Fishing.  
4.1.3   Forestry  
4.45.   Forestry contributes about 1.9% to GDP and employs about 6,000 people.30 About 95%, or 
15.3 million ha, of the country is forested, nearly all of which is primary forest, with only 13,000  ha 
of plantations. Practically all this land is publicly owned.31 Total forestry production in 2017 was 
863,482 m3, more than triple the leve l of production in 2010 when it was 247,377 m3 (Table 4.10). 
Table 4.10 Forestry production, 2010 -17 
(m3) 
 2010  2011  2012  2013  2014  2015  2016  2017  
Round wood  235,830  347,566  415,392  386,080  486,428  561,376  573,676  857,285  
Square cut  1,225  1,281  63 38 170 392 1,284  915 
Fence posts  3,766  3,801  3,043  3,190  2,112  2,646  2,140  1,878  
Shingles  7 18 10 31 20 20 6 23 
Sawn wood  5,330  13,049  17,041  4,807  4,043  3,742  6,270  2,806  
Firewood  1,079  527 574 7,982  605 406 142 575 
Charcoal  140 153 183 108 669 75 0 0 
Total  247,377  366,395  436,306  402,236  494,047  568,657  583,518  863,482  
Source:  Foundation for Forest Management and Production Control (2018), Forestry Statistics 2017 . Viewed 
at: http://sbbsur.com/wp -content/uploads/2018/10/prod -17-eng.pdf . 
4.46.   More than half of the total volume of production is exported: in 2017, about 500,000 m3 was 
exported, with a value of U SD 63.6 million ( Chart 4.1), of which over four fifths went to India (39%), 
China (23%), and Singapore (22%). Nearly all exports are round wood (96% by volume and 91%  
by value). Many companies are involved in exporting wood and wood products from Suriname but 
                                                
28 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, 
pp. 111-113. 
29 Smith, G., Burkhardt, D. (2017), Socio -economic Study of the Fisheries Sector in Suriname , WW F 
Guianas, pp.  12-20. 
30 SBB (2017), Surinaamse Bosbouwsector 2016 , December, Paramaribo, p p. 41-42. 
31 FAO (2015), The Global Forest Resources Assessment, Rome.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  two accounted for nearly half of the value of exports in 2017: Palmera Hout NV (25%); and Wintrip 
International NV (21%).32 
Chart 4.1 Exports of wood, 2000 -17 
 
Source:  Foundation for Forest Management and Production Control (2018), Forestry Statistics 2017 . Viewed 
at: http://sbbsur.com/wp -content/uploads/2018/10/prod -17-eng.pdf . 
4.47.   The Foundation for Forest Management and Production Control ( Stichting voor Bosbeheer en 
Bostoezicht  – SBB) in the Ministry of Spatial Planning, Land and Forest Management is responsible 
for developing and implementing policy and drafting legislation on forestry and forestry 
management. The Nature Conservation Division of the Ministry is responsible for conservation and 
hunting. The principle legislation relating to commercial forestry, forest management, forest 
operatio ns, and the primary processing of wood is the Forest Management Act SB No. 80, 1992. In 
addition, the Nature Conservation Act GB No. 26, 1954, the Hunting Act GB No. 25, 1954, and the 
Hunting Decree, 2002 include provisions relating to the conservation of forestry and wildlife.  
4.48.   Under the 2017 -21 Policy Development Plan, forestry and related industries are identified as 
a production cluster with potential for expansion, while keeping Suriname's status as one of the 
greenest countries in the world. The specif ic objectives set out in the Plan aim to increase production 
through a variety of goals, including better efficiency, research, and use of non -timber forest 
products. At the same time, the Plan includes measures aimed at improving monitoring, better 
transp arency, and successfully implementing a REDD+ programme.33  
4.49.   Under the Forest Management Act and the Application for Exploration Permit and Concession 
of 17 February 2000, logging requires a concession which may be short -, medium - or long -term, 
with concessi ons also available for communal forests granted to forest -dependent tribal 
communities, or for short -duration incidental cutting ( Table 4.11). An application for a concession 
must be made to the SBB. For an application for a concession of more than 5,000 ha, the applicant 
                                                
32 Foundation for Forest Management and Production Control (2018), Forestry Statistics 2017 . View ed 
at: http://sbbsur.com/wp -content/uploads/2018/10/prod -17-eng.pdf . 
33 See FAO, UNDP and UN environment information  on Reducing Emissions from Deforestation and 
Forest Degradation and the role of conservatio n, sustainable management of forests and enhancement of 
forest carbon stocks in developing countries  (REDD+). Viewed at: https://www.un -redd.org . 
 - 10 20 30 40 50 60 70
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 - 100 200 300 400 500 600
Volume, '000 m3 (right axis) Value, USD million (left axis)
Source:  Foundation for Forest Management and Production Control (2018), Forestry Statistics 2017 . Viewed at: 
http://sbbsur.com/wp -content/uploads/2018/10/prod -17-eng.pdf [December 2018].WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  must first apply for an exploration permit and, at least three months before the expiry of the 
exploration permit, apply fo r a logging concession.34 
Table 4.11 Logging concessions  
Type  Area  Period  Number  Total area  (ha) 
Short -term Less than 5,000 ha  1 to 5 years  30 121,300  
Medium -term 5,000 to 50,000 ha  5 to 10 years  22 447,300  
Long-term 50,000 to 150,000  ha 10 to 20 years  4 495,000  
Communal forest  n.a. n.a. 85 550,500  
Incidental cutting  n.a. n.a. 2 173,700  
n.a.  Not applicable.  
Source:  SBB (2015), Information sheet: Forestry in Suriname. Viewed at: http://sbbsur.com/wp -
content/uploads/2015/05/Information -Sheet -bosbouw -in-Surinam.pdf . 
4.50.   A concession ho lder is required to pay an annual fee for the concession, along with an 
area-based exploration fee, volume -based grading fees, and royalties and export duties based on 
the f.o.b. value ( Table 4.12).  
Table 4.12 Concession fees and other charges, 2016  
 Fee Total revenue  
Annual fee  SRD 5.00 per ha  SRD 6,111,926  
Exploration fee  SRD 5.00 per ha  SRD 298,893  
Royalty  USD 3.95 per m3 SRD 14,004,967  
Inspection fee   SRD 1,527,943  
 Round wood and wood products  SRD 3.00 per m3  
 Snakewood ( piratinera guianensis)  SRD 3.00 per 1,000 kg   
 Forest by -products  SRD 3.00 per kg   
Export duty  5%-20%, depending on the degree of processing  SRD 47,900,000  
Source:  SBB (20 17), Surinaamse Bosbouwsector 2016 , December, Paramaribo, pp. 41 -42. 
4.2  Mining and Energy  
4.2.1   Mining  
4.51.   Mining and quarrying accounted for about 6.5% of GDP in 2017, down from over 7.0% in 
2010 but more than double the 3.1%  of 2015, when bauxite mining stopped and the refinery was 
closed. In 2014, about 20,000 people were directly employed in the minerals sector (including 
building materials), of which 1,000 were in bauxite mining. Most of the employed are small -scale 
gold m iners35, many of whom are illegal immigrants from the south.  
4.52.   In trade terms, exports of minerals (including hydrocarbons) represented 83% of total 
exports, even though aluminium oxide exports declined to zero. Gold (73%) and mineral fuels (10%) 
currently re present nearly all exports of minerals.  
4.53.   Government revenues from mining (direct and indirect taxes and other sources) were 
SRD 1.6 billion in 2017, 31.5% of total government revenue. This represents a strong recovery from 
2015, when they fell to SRD 276.4  million ( Table 4.13). Royalties, taxes on salaries, and corporation 
taxes from the state -owned oil company, Staatsolie, are the main contributors.  
4.54.   The Ministry of Natural Resources is  responsible for policy relating to the exploration and 
exploitation of minerals, while several other government agencies are responsible for policy relating 
to mining, such as the Ministry of Finance  and the National Instit ute for Environment and 
Development in the Office of the President. Within the Ministry of Natural Resources, the Geological 
Mining Service ( Geologisch Mijnbouwkundige Dienst – GMD) is responsible for conducting, managing 
and distributing geological survey s, and managing concessions. In addition, the Gold Sector Planning 
Commission ( Ordening Goudsector – OGS) and the Bauxite Institute of Suriname (BIS) are 
responsible for regulating their respective sectors, and the state -owned Staatsolie Maatschappij 
                                                
34 SBB. Viewed at: http://sbbsur.com/ . 
35 Cemerts , G. (2014), The Mineral Sector of Suriname: Employment Creation and Capacity Building , 
presentation for UNCTAD, Multi -Year Expert Meeting on Commodities and Development , 9-10 April 2014.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Surin ame N.V. is involved in the exploration, drilling, production, refining, marketing, sale, and 
transport of oil. Staatsolie is also an electricity producer, through its subsidiary the Staatsolie Power 
Company of Suriname NV (SPCS), a biofuel producer and  a retailer of petroleum products.  The 
Grasshopper Aluminum Company (Grassalco) is another state -owned company; it was originally 
established in 1971 to encourage the exploitation of bauxite through joint ventures but is now 
involved in the exploration and ex ploitation of other minerals.36 As at early 2019, an institutional 
reshuffling of the regulatory framework in the mining sector, including the creation of a Minerals 
Institute ( Delfstoffen Instituut Suriname, DIS ), was under consideration.  
Table 4.13 Mining indicators, 2010 -17 
  2010  2011  2012  2013  2014  2015  2016  2017  
Contribution to GDP (Suriname Statistics Office)  
 % 7.2 6.7 7.0 6.5 4.5 3.1 5.4 6.5 
 SRD million , 
constant 2007  554 630 649 633 596 509 459 522 
          
Contribution to government revenue (Ministry of Finance)  
Corporate tax  SRD million       14.3 18.1 154.3  
Wage tax   .. .. .. .. .. 94.8 186.9  327.8  
Other direct taxes   .. .. .. .. .. 34.9 0.0 10.6 
Sales tax   .. .. .. .. .. 0.2 0.2 19.2 
Import duties   .. .. .. .. .. 2.9 1.3 9.0 
Other indirect taxes   .. .. .. .. .. 0.6 0.2 1.1 
Statistical and consent 
fees  .. .. .. .. .. 14.0 43.0 1.2 
Royalties   .. .. .. .. .. 76.6 196.7  349.6  
Other non -tax revenues   .. .. .. .. .. 48.8 119.2  168.3  
Total   .. .. 1,521.5  1,215.8  840.5  276.4  565.6  1,606.9  
          
Production (US Geological Survey)  
Bauxite  '000 tonnes  3,104  3,236  2,873  2,706  2,708  1,600  .. .. 
Alumina  '000 tonnes  1,486  1,421  1,203  1,149  1,149  748 .. .. 
Cement, hydraulic  '000 tonnes  45 74 114 131 160 160 .. .. 
Gold, mines, Au content  Tonnes  31.0 32.3 33.5 34.2 33.0 28.0 .. .. 
Petroleum, crude  '000 bbl  5,800  5,990  5,940  5,980  6,130  6,189  .. .. 
Petroleum, refined  '000 bbl  2,700  2,630  2,310  2,780  1,460  2,900  .. .. 
          
Production (World Gold Council)  
Gold Tonnes  20.4 20.1 20.0 18.5 8.4 17.4 21.2 34.1 
.. Not available.  
Source:  Suriname Statistics Office. Viewed at: http://www.statistics -suriname.org/ ; Ministry of Finance. 
Viewed at: http://www.gov.sr/ministerie -van-financi%C3%ABn/data.aspx ; US Geological Survey 
(2017), 2014 Minerals Yearbook, Suriname , October; US Geo logical Survey, Advance data release 
for 2015 annual tables, 21  May 2018. Viewed at: https://www.usgs.gov/ ; and World Gold Council. 
Viewed at: https://www.gold.org . 
4.55.   The law governing the exploration, exploitation, and processing of minerals is set out in a 
number of different legal acts including:  
• the Constitution, which states that natural resources are the property of the State, and 
also includes a provision relating to environmental, social and labo ur policies which affect 
the mineral sector;  
• the Mining Decree E.58, 1986, which also states that minerals are the property of the 
State, and separates the right to land and the right to ownership of minerals. Mining 
companies are required to respect laws relating to labour and the environment, and give 
priority to local employment and local procurement of goods and services, where they are 
available and of comparable price and quality; and  
• the Petroleum Law No. 7, 1990, which, along with the Staatsolie Con cession Agreement 
(Decree E8 -B No. 59, 1981) and the Mining Decree, regulate the petroleum sector.  
4.56.   In addition, the agreements for the Rosebel and Merian gold mines were approved by 
Parliament, giving them the status of laws.  
                                                
36 Ministry of Natu ral Resources. Viewed at: http://www.gov.sr/ministerie -van-nh/over -nh.aspx . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.57.   A draft mining law was approv ed by the Government in 2012, but has not yet been enacted. 
The Mining Decree is now over 30 years old, and was passed at a time when bauxite was the main 
focus of the national minerals policy. It has been stated that a new law is needed to address current  
issues, including a greater emphasis on the environmental and social aspects of mining. In addition, 
it has been stated that the Mining Decree "leaves significant decision -making authority to the 
Government (and the Minister of Natural Resources in partic ular), which creates flexibility but also 
presents many governance risks, including creating space for political influence over investment 
approvals and opportunities for corruption due to the discretionary authority".37 Furthermore, there 
is no specific la w on the environment, and a draft law has been awaiting approval from the Council 
of Ministers since 2002.  
4.58.   Under the Mining Decree, there are five different types of mining rights:  
• reconnaissance rights for up to 200,000 ha for two years, with a possible extension of 
one additional year;  
• exploration rights for up to 40,000 ha for three years, with a possibility to extend the 
rights twice for an additional two years each, with a reduction in the area of 25% for each 
extension;  
• exploitation rights for up t o 10,000 ha for 25 years, with the possibility to extend the rights 
for up to an additional 25 years;  
• small mining rights for up to 200 ha for two years, with the possibility to renew the rights 
for an additional two years; and  
• rights to exploit building  materials for up to 400 ha for five years, extendable for an 
additional five years.  
4.59.   Mining rights for radioactive minerals and hydrocarbons are reserved for state -owned 
enterprises, while those for bauxite may be granted to state -owned or private enterpri ses, and those 
for other minerals and building materials to state -owned or private enterprises, or natural persons. 
Exploration and exploitation rights for bauxite, radioactive minerals, and hydrocarbons are granted 
by a resolution drafted by the Ministry of Natural Resources and approved by the Council of Ministers, 
the state Council and the National Assembly. A mining right enters into force after having been 
signed by the President and published in the Staatsblat . Exploration and exploitation rights for other 
minerals and building materials may be granted by the Minister of Natural Resources, and may only 
be transferred with the permission of said Minister.  
4.60.   The GMD maintains a public database listing current rights, the areas under these rights, and 
the rules relating to them. According to the database, in December 2018, there were 103 exploration 
rights, 65 exploitation rights, 12 small -scale mining rights, and 210 rights for the exploitation of 
building materials in operation.38 
4.2.1.1   Gold 
4.61.   Gold mining in Suriname may be categorized as having a large number of artisanal miners, 
working small deposits, which are often unregulated, and a small number of large producers, working 
on an industrial scale. In addition, there are medium -scale operators, such as Nan a Resources and 
the state -owned Grassalco, that are involved in exploration and production. Although the Mining 
Decree restricted small -scale mining to specific areas, it is quite widespread; along with the 
medium -scale producers, it accounts for about two  thirds of total production and employs most of 
those working in the minerals sector, many of which are undocumented illegal immigrants from 
the south.  
                                                
37 World Bank (2017), Suriname Sector Competitiveness Analysis: Identifying Opportunities and 
Constraints to Investment and Diversiﬁcation in the Agribusiness and Extractives Sector s, Washington, DC, 
Creative Commons Attribution CC BY 3.0 IGO, p p. 36-38. Viewed at: 
https://elibrary.worldbank.org/doi/pdf/10.1596/26205 . 
38 GMD. Viewed at: https://geologymining -sr.maps.arcgis.com/home/index.html . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.62.   While informal mining provides direct employment and indirectly contributes to the economy 
in rural area s, it is also blamed for causing pollution and deforestation, and contributes little to 
government revenue in the way of taxes or royalties. According to the 2017 -21 Policy Development 
Plan, the gold sector needs to move "from an opaque, disorganized and e nvironmentally polluting 
informal sector into a formal sector, which is transparent and where the contribution can be clearly 
identified in the national economy. The operators will have to develop into full -fledged small business 
owners, who understand tha t enterprising entails risks".  
4.63.   Industrial -scale mining in Suriname began in 2004, with the opening of the Rosebel Gold 
Mine, which was 5% owned by the State of Suriname and 95% by IAMGold of Canada. In 2013, 
IAMGold revised its agreement with the Governmen t to extend the original agreement from 2027 to 
2042, and established an expansion of the area of interest which is now 30% state -owned and 70% 
IAMGold owned. In 2013, Newmont Mining Corporation of the United States secured an agreement 
with the Government  for the 500,000 ha Merian project, operated by the Suriname Gold Company 
(Surgold), which is 75% owned by Newmont, and 25% by Staatsolie. Production at Merian started 
in October 2016.39, 40  
4.64.   The project agreements include concessions relating to taxes, and set the revenues to accrue 
to the State from them ( Table 4.14). 
Table 4.14 Large -scale gold mining agreements, selected details  
 Rosebel Gold Mines  Newmont Mining Coorporation  
Concession  Gross Rosebel area:  170 km2 
Expansion:    80 km2 Merian p roject: 168 km2 
Reserves  Gross Rosebel:  1.4 million oz  
Expansion:     4.2 million oz  5.1 million oz  
Initial investment  USD 115 million  USD 700 million  
Ownership  Gross Rosebel: 95% IAMGold, 5% Suriname  
Government  
Expansion: 70% IAMGold, 30% Suriname  
Government  Newmont Suriname 75%, Suriname 
Government 5%, Staatolie 20%  
Revenue to State  • Income tax  36% 
• Statistics duty  1% + Consent duty 1.5% up 
to USD  300,00 per year  
• Royalties 2.25%, plus 6.5% when market 
price is greater than USD 450/oz  
• Surface rights exploration SRD 100/year/ha  
• Surface rights exploitation SRD 200/year/ha 
for the first 5 years, SRD 240 for years 6 to 
10, SRD 300 for years 11 to 15, and SRD 
400 thereafter  
• Dividend 5% per share  • Income tax  36% 
• Statistics duty  1% + Consent duty 1.5% 
up to USD  300,00 per year  
• Royalties 6%  
• Surface rights exploration SRD 
100/year/ha  
• Surface rights exploitation SRD 
200/year/ha for  the first 5 years, SRD 240 
for years 6 to 10, SRD 300 for years 11 to 
15, and SRD 400 thereafter  
• Withholding tax 15%  
• Proceeds sharing 5%  
Exemption from  • Tax on interest and dividends  
• Import duties and related costs of capital 
works and other equipment, work vehicles, 
necessities, fuel and other materials  • Sales tax when purchasing  imported 
and/or local goods and services  
• Import duties, excise duties, taxes or other 
import duties on capital goods (all  
equipment, work vehicles, auxiliary 
material s, fuels or other materials)  
Energy  Purchase of 13 MW of energy from the State 
at a subsidized price. Purchase of 14 MW  at 
Energiebedrijven Suriname (EBS) at 
commercial rate. In 2014 , set up solar  panel 
plant (5 MW) to reduce the energy costs  of the 
compa ny On-site heavy fuel oil power plant  
Source:  Suriname Planning Bureau (2017), 2017 -21 Policy Development Plan, January, Paramaribo, 
Part VI.2.1.  
4.65.   Under the Bank Law, 1958, all gold must be sold to the Central Bank. However, in 2002, the 
Bank delegated this function. As at end -2017, eight companies in Suriname had licences from the 
                                                
39 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, 
Part VI.2.1.  
40 World Bank (2017), Suriname Sector Competitiveness Analysis: Identifying Opportunities and 
Constraints to Investment and Diversiﬁcation in the Agribusiness and Extractives Sectors, Washington, DC, 
Creative Commons Attribution CC BY 3.0 IGO, p p. 36-38. Viewed at: 
https://elibrary.worldbank.org/doi/pdf/10.1596/26205 . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Currency Commission of the Central Bank to buy gold; five of these al so had export licences and 
one had a permit to refine gold. Registered gold buyers are required to provide the Central Bank 
with monthly and annual reports on purchases and sales. Prices paid by buyers are not regulated, 
although they include a 1% royalty to the Central Bank.41, 42 
4.66.   In 2015, Kaloti Precious Metals of the United Arab Emirates opened a refinery in Suriname, 
the Kaloti Suriname Mint House (KSMH), as a joint venture with the Government and local gold 
traders. KSMH has an annual refining capacity o f 60 tonnes.  
4.2.1.2   Bauxite  
4.67.   Bauxite production in Suriname ceased in November 2015 when Suralco, a subsidiary of 
Alcoa, ceased mining and refining operations and, in January 2017, announced it would permanently 
close the refinery and bauxite mines.43  
4.68.   According to  the Government, the reasons cited by the company were low prices, high mining 
and energy costs, and high costs of bringing new mining areas into operation. However, the company 
continues to produce electricity from the Afobaka hydroelectric plant it built  and operates. 
Furthermore, as set out in the Bauxite Act, 1919, the Minerals Regulation, 1952, and the Brokopondo 
Agreement, 195844, Suralco retains bauxite mineral and mining rights until 2033.  
4.69.   While significant bauxite deposits remain in Suriname, exploi ting them would, according to 
the World Bank, require significant investment in mine development, transport infrastructure, and 
in the Paranam Alumina Refinery, to reduce processing costs. The Government continues to engage 
in discussions with interested p artners. In May 2016, the Ministry of Natural Resources signed a 
Memorandum of Understanding with the Monaco Resources Group on a joint investment in the 
sector. However, this would require the Government acquiring Suralco's assets.45 
4.2.2   Hydrocarbons  
4.70.   Under the  Mining Decree, concession rights related to petroleum may only be granted to state 
enterprises, although, under the Petroleum Law, these are authorized to enter into agreements with 
petroleum companies. Therefore, under the law, as Staatsolie is the owner  of all on - and off -shore 
rights to petroleum deposit, and it operates, either on its own or in partnership, all petroleum 
operations. Those concession rights operated in partnerships are awarded through direct 
negotiations or as a result of a bidding roun d.46 
4.71.   Staatsolie is a vertically -integrated oil company, from exploration to retail, with total revenues 
of USD 434 million in 2017, down from over USD 1 billion per year for 2012 to 2014 but a 
considerable improvement on 2016 when they were USD 358 million (Table 4.15). Crude oil is refined 
at the Tout Lui Faut refinery, which was expanded in 2012 at a cost of USD 991 million, doubling 
capacity to 15,000 bbl of refined p roducts per day. A 14 MW power plant at the refinery is operated 
by the subsidiary of Staatsolie, Staatsolie Power Company of Suriname (SPCS) which sells electricity 
to the state -owned EBS.  
                                                
41 Heemskerk, M. (2010), The Gold Marketing chain in Suriname,  WWF Guianas Sustainable Natural 
Resource Management Project, September.  
42 World Bank (2017), Suriname Sector Competitiveness Analysis: Identifying Opportunities and 
Constraints to Investment and D iversiﬁcation in the Agribusiness and Extractives Sectors, Washington, DC, 
Creative Commons Attribution CC BY 3.0 IGO, p p. 36-38. Viewed at: 
https://elibrary.worldbank.org/doi/pdf/10.1596/26205 . 
43 Alcoa (2017), Alcoa Corporation to Permanently Close Suralc o Refinery , Press Release, 3 January. 
Viewed at: https://news.alcoa.com/news -releases/all/all/all . 
44 Suriname Planning Bureau (2017), 2017-21 Policy Development Plan , January, Paramaribo, 
Part VI.2.3.  
45 World Bank (2017), Suriname Sector Competitiveness Analysis: Identifying Opportunities and 
Constraints to Investment and Diversiﬁcation in the Agribusiness and Extractives Sectors, Washington, DC, 
Creative Commons Attribution CC BY 3.0 IGO, p p. 36-38. Viewed at: 
https://elibrary.worldbank.org/doi/pdf/10.1596/26205 . 
46 Staatsolie (2009), Hydrocarbon Legal Facts of Surin ame, January. Viewed at: 
http://opportunities.staatsolie.com/media/1244/hydrocarbon -legal-facts-of-suriname.pdf . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table 4.15 Staatso lie production and revenues, 2011 -17 
  2011  2012  2013  2014  2015  2016  2017  
Crude production  '000 bbl  5,990  5,940  5,980  6,130  6,180  6,059  5,950  
Fuel oil and crude  '000 bbl       4,249  3,221  
USD million  .. .. .. .. .. 162 183 
Diesel  '000 bbl       1,416  1,986  
USD million  .. .. .. .. .. 123 152 
Petrol  '000 bbl  .. .. .. .. .. 358 593 
USD million       32 49 
Bitumen  '000 bbl  .. .. .. .. .. 36 24 
USD million       2 2 
Electricity  MWh .. .. .. .. .. 26,896  30,478  
USD million       39 48 
Gold  '000 oz  n.a. n.a. n.a. n.a. n.a. n.a. 127 
  n.a. n.a. n.a. n.a. n.a. n.a. 46 
Total revenue  USD million  782 1,047  1,023  1,056  591 358 434 
Pre-tax profit  USD million  414 479 432 400 29 13 94 
Contribution to Government  USD million  289 352 259 259 25 40 129 
.. Not available.  
n.a. Not applicable.  
Source:  Staatsolie annual reports.  
4.72.   According to Staatsolie, proven reserves were 87 million bbl at the end of 2017, compared to 
76.8 million bbl at the end of 2011, reflecting a successful strategy of exploration for new fields and 
improved extraction from existing ones.  
4.73.   Staatsolie is involved in exploration, exploitation and refining on its own and, through 
petroleum contracts, it negotiates with international oil companies. Joint ventures with third p arties, 
where Staatsolie has no operator function, are carried out by its subsidiary, Paradise Oil Company.  
4.74.   Through the acquisition of Chevron's retail operations in Suriname in 2011, Staatsolie's 
subsidiary, GOw2 Energy Company, operates retail outlets. I n 2012, the Trinidad -based bunkering 
company, Ventrin Petroleum Company Ltd, became a full subsidiary of Staatsolie. In addition, 
Staatsolie has a 20% holding in the Merian gold mine.  
4.75.   Staatsolie is an important contributor to government revenue, representi ng twice that of gold 
and five times that of bauxite/alumina over the 2007 -15 period.47 The contribution varies 
considerably from one year to the next, depending on profits and oil prices, from over 
USD 350 million in 2012 to less than USD 25 million in 201 5.48  
4.3  Manufacturing  
4.76.   Suriname's manufacturing sector contributes about 15% to GDP. It is dominated by food and 
wood processing and refining activities. The average applied MFN tariff on non -agricultural goods 
(WTO definition) is 9.8%; the average MFN tariff on manufacturing (ISIC definition) is 10.6%. In 
2017, Suriname exported manufactured products for USD 1,190 million (of which USD 1,054 million 
was non -monetary gold), while imports of manufactures amounted to USD 864 million.  
4.4  Services  
4.4.1   General  
4.77.   Services is the main economic activity in Suriname, and consistently constituted around 55% 
of GDP in the period 2012 -17. Around two thirds of the workforce is employed in various services 
sectors, with wholesale and retail trade as the most dominant one. In recent ye ars, hotels and 
                                                
47 World Bank (2017), Suriname Sector Competitiveness Analysis: Identifying Opportunities and 
Constraints to Investment and Diversiﬁcation in the Agribusiness and Extractives Sectors, Washington, DC, 
Creative Commons Attribution CC BY 3.0 IGO, p p. 36-38. Viewed at: 
https://elibrary.worldbank.org/doi/pdf/10.1596/26205 . 
48 Staatsolie (2012 -18), Annual Report , Paramaribo. Viewed at: https://www.staatsolie.com/en/media -
centre/publications/ . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  restaurants and other tourism -related services showed considerable growth. The services trade 
balance has been consistently negative, with an average export -import ratio of 1:3 in 2016 and 
2017, and even 1:4 in 2015.49  
4.4.2   Financial services  
4.4.2.1   Overview  
4.78.   Suriname's financial system is supervised by the Central Bank, the country's monetary 
authority and governing body in monetary and economic affairs. It consists of 9  commercial banks 
(including subsidiaries), 5 investment and finance companies, 28 s avings and credit unions, the 
National Development Bank, 12 insurance companies, 40 pension funds, 5  provident funds, the stock 
exchange, 25 foreign exchange bureaux, and 6 money transfer houses.  
4.79.   Suriname did not schedule or liberalize any of its financial  services at WTO. In 2005, it made 
an offer during the DDA negotiations, covering insurance and retrocession services.50  
4.80.   In 2018, total assets amounted to some USD 2,985 million, kept by banks, and 
USD 417 million, kept by insurance companies.  
4.4.2.2   Regulatory framework  
4.81.   Financial activities are governed by the Bank Law, 1956, which establishes the Central Bank 
as the sole supervisor of the banking and credit system. It was amended in 2005 to include pension 
funds, insurance companies, foreign exchange houses, an d money transfer companies. In 2011, the 
Banking and Credit Supervision Act was adopted, authorizing the Central Bank to supervise and take 
measures in accordance with international standards. These include prudential regulations for 
financial institutions  in the areas of risk management, corporate governance, consolidated 
supervision, and audit and licensing procedures needed to strengthen supervision of the banking 
sector (Table 4.16). Since 2011, no further changes to laws related to supervision of the b ank and 
credit sector were introduced, except for the Money Transaction Offices Supervision Act, 2012 and 
the Capital Market Law, 2014 (see below). The latest publicly -available annual report by the Central 
Bank dates from 2014.  
4.82.   An entity requires a licenc e from the Central Bank to operate as a "credit institution" in 
Suriname. Branches of foreign financial institutions must also obtain a licence, and are subject to 
the same supervision and prudential regulations for their operations in Suriname. A licence can be 
revoked if an institution does not comply with the terms of the Banking and Credit Supervision Act 
or prudential or other regulations issued by the Central Bank.  
4.83.   The Banking and Credit Supervision Act, 2011 makes provision for the creation of a bank  
deposit insurance scheme. However, as at early 2019, no such scheme had been implemented. Since 
2015, the Central Bank issued guidelines and regulations on internal audit, internal control, 
management and board requirements, corporate governance, and curr ency, interest rate and 
liquidity risk.  
4.84.   In 2014, Suriname adopted the Wet Kapitaalmarkt  (Capital Market Law), which is aimed at 
the orderly development of the capital market, and establishes rules and obligations for stock 
markets and brokers and traders in Suriname. The Central Bank is the main supervisor of both 
markets and participants, whereas operating licences are issues by the Ministry of Finance. There is 
one stock exchange, the Suriname Stock Exchange, with 12 listed companies.  
4.85.   In accordance with international obligations and following recommendations from the 
Financial Action Taskforce and the Caribbean Action Taskforce, the Central Bank issued the 
Anti-Money Laundering and Combatting of Terrorist Financing Directive in 2012. Since then, the 
Finan cial Intelligence Unit Suriname (FIUS - Meldpunt Ongewone Transacties ) has been putting 
cases to the Public Prosecutor, seeking convictions. In 2016, over 154,000 cases of suspicious 
                                                
49 WTO-World Bank I -TIP Services database, November 2018.  
50 WTO document TN/S/O/SUR/ Rev.1, 28 July 2005.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  transactions were reported to the FIUS. It investigated 33 cases and perpetrators, of which 
eight were prosecuted. Three of those cases led to  a conviction.51  
Table 4.16 Banking prudential regulations  
Regulation  Main provisions  Report 
frequency  
 Capital adequacy   
Richtlijn Nr.  1 Solvabiliteit 
(2015) (Directive No. 1  
capital adequacy)  The minimum capital requirement for banks, primary, 
unimpaired paid -up capital of SRD 410 million; in addition, 
all banks must maintain a risk -weighted capital -asset ratio 
of 10% (Tier I capital -asset ratio should be at least 4%) or 
such higher level deter mined by the Central Bank (in 201 8, 
it was 11.2% and 10. 5% for Tier I capital)  Monthly  
 Classification of loans and provisioning   
Richtlijn Nr.  2 
Kredietclassificatie en 
Voorziening (20 15) (Directive 
No. 2 credit classification and 
provisioning)  Banks must adopt a loans policy approved by their Board s, 
and establish a review system to identify risk s and ensure 
the adequacy of their allowance for loan losses . 
Non-performing loans are defined as loans in respect of 
which any payment of principal or interest is in arrears for 
90 days or more  for business loans or 60 days or more for 
consumer loans ; the regulations specify minimum 
standards for the accounting treatment to be applied to 
non-performing and renegotiated loans, and minimum 
provisioning requirements for non -performing loans  Quarterly  
 Large exposures   
Richtlijn Nr.  3 Grote -Posten 
(2015) (Directive No. 3 large 
exposures)  The maximum exposure limit to any single person is fixed 
at 25% of a bank's capital . 
A bank's deposits with other banks, corporations, and 
financial institutions must be aggregated , and the total 
cannot exceed, for each institution, 100% of a bank's 
capital unless the institution has received an "investment" 
grade from a major rating agency . 
A bank's large exposures (i.e. loans or deposits of a bank 
to, or with , any person or common enterprise that equals , 
or exceeds , 15% of the bank's capital) cannot exceed, in 
the aggregate, 600% of its capital  Monthly  
 Insider lending   
Richtlijn Nr. 4 
Kredietverlening aan 
Insiders (20 15) (Directive 
No. 4 insider lending)  Aggregate lending to a single insider or the insider's 
related interest is limited to 25% of the bank's capital; the 
aggregate of all loans to all insiders and their related 
interests c annot exceed 100% of the bank's capital  Quarterly  
 Fixed assets investment s  
Richtlijn Nr . 5 Immobilia 
(2015) (Directive No. 5 
financial institutions fixed 
assets investment)  Direct or indirect investments by banks in fixed assets are 
limited to 100% of their "adjusted" capital  Biennial  
Source:  Central Bank . 
4.4.2.3   Banks  
4.86.   Suriname's commercial banking sector was not subject to much change over the last 
six years. There are still nine active banks, of which three are wholly owned by the State. Of the 
other six, one is majority -owned by the State, and another has a 10% state ownership. The Republic 
Bank Limited of Trinidad and Tobago entered the Suriname market in 2015, when it acquired the 
holdings of the Royal Bank of Canada Suriname.  
4.87.   The three state -owned banks are fully operational market partners, providing the usual ran ge 
of banking services to corporate and private clients. According to the authorities, their origins lie in 
the need for specific financial services, and support to sectors and social objectives, such as 
agriculture, forestry, fishing, housing loans and SM E support, as well as services to low income 
households.  
                                                
51 Caribbean Financial Action Taskforce , Suriname 11th follow-up report (2017), pp. 41 -42. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.88.   The only non -commercial financial institution is the state -owned Nationale Ontwikkelingsbank  
(NOB - National Development Bank). Although the NOB supposedly also helps local, small -scale 
entrepreneur s (SMEs), its activities are 100% concentrated on providing loans to Suriname 
students.52 According to the authorities, the NOB recently started to dedicate part of its resources 
to SMEs again. In December 2018, the Government abolished the Agricultural Cre dit Fund (AKF), 
and transferred its assets to the NOB to help farmers in their business endeavours.  
4.89.   In November 2018, the IMF concluded its Article IV consultation with Suriname, noting its 
relatively good financial soundness indicators. The IMF also desc ribed remaining vulnerabilities, and 
encouraged Suriname to develop a more robust contingency plan and bank resolution framework, 
which would help strengthen financial stability.53 According to the authorities, the commercial banks' 
non-performing loan rati o increased from 6.2% in 2014 to 13.2% in June 2017, but fell again to 
10.8% in December 2018.  
4.90.   The deposit dollarization ratio remains high, at 64.7% of total deposits. U.S. dollar - and 
Euro-denominated credits amounted to 39.6% (USD 444 million) and 14.3%  (EUR 140 million), 
respectively. Reserve requirements for foreign currency deposits went up from 33% in 2010 to 50% 
in 2013, and were still at 50% in early 2019.  
4.4.2.4   Insurance services  
4.91.   The number of participants and the size of Suriname's insurance market re mained stable since 
the last Review. Twelve companies are still active in providing life, general and funeral insurances. 
In 2017, in terms of assets, life insurance was slightly higher than the other two  categories.  
4.92.   Insurance companies fall under the supervision of the Central Bank, as regulated under the 
Banking and Credit System Supervision Act, 1968, amended in 1986, 2005 and 2011. The changes 
explicitly included provisions on pension funds, and insurance companies.  
4.93.   The draft Insurance Law, 2017 is expected to give the Central Bank further legal powers to 
intervene in the sector, and allow it to monitor and act upon real estate exposure and other risks 
affecting the sector. As at early 2019, however, the Law had not been enacted.  
4.94.   Suriname started int roducing a Social Security System in 2013, and implemented national 
basic health insurance in October 2014. This insurance is obligatory, and guarantees a minimum of 
healthcare to all residents aged between 17 and 59 years, including foreigners. The premiu m is paid 
by both employer and employee, and varies depending on age. The implementing insurance 
company is the Surinaamse Assurantie Maatschappij  Self Reliance. The Government signed an 
agreement with Self Reliance to offer free basic health insurance for  persons between the ages of 
0 and 16, and those 60 and older. The premiums are paid fully by the Government.  
4.4.2.5   Other financial services  
4.95.   In 2018, 24 credit unions were registered with the Central Bank, 4 of which were not in 
operation. The Central Bank overs ees three categories of credit unions, based on their size, with less 
burdensome reporting requirements for smaller unions. With no umbrella organization for the sector 
and a declining number of unions that filed reports with the Central Bank – nine in 201 1, six 
in 2012 – there is growing ambiguousness regarding the functioning and operations of the registered 
unions. Continued on -site inspections by the Central Bank showed absent or weak administrative 
capacity in the sector.54 In 2013, six unions were put under the supervision of the Central Bank, as 
part of a project called "Addressing non -responsive institutions". Non -compliance with operational 
guidelines set by the Bank could eventually lead to legal action.55 According to the Central Bank, the 
approach resulted in some success, although several unions are still in arrears.  
                                                
52 NOB. Viewed  at http://fss.nobsuriname.com/ . 
53 IMF Press release , 16 November 2018.  Viewed at: https://www.imf.org/en/C ountries/ResRep/SUR . 
54 Central Bank Annual Report (2013), pp. 30 -31. 
55 Central Bank Annual Report (2013), pp. 30 -31. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.4.3   Telecommunications  
4.96.   Suriname scheduled several telecommunications commitments under the GATS. They cover 
a variety of different telecommunications services, for public and non -public us e, including those 
made available via fixed and mobile networks such as local, domestic and long distance, voice, telex 
and data transmission services. The most important restrictions bound in Suriname's schedule are: 
foreign equity participation to a maxi mum of 40% of mobile operators; a five -year exclusive rights 
for duopoly operators on the fixed network infrastructure; and a maximum five -year licence for 
mobile operators. Both five -year restrictions ended in 2003 but the possibility of extending the 
number and/or duration of licences after that was, and is, at the discretion of the Government. 
Licensed operators also have the exclusive right to provide long -distance and international services 
over fixed and mobile networks, and cannot be bypassed. As par t of the DDA negotiations, Suriname 
made a revised offer in 2005, where it included the telecommunications Reference Paper, which 
contains a set of regulatory principles that are legally binding upon those that sign it.  
4.97.   Telecommunication policy is handled by the Ministry of Public Works, Transport and 
Communication, whereas licensing of service providers and regulation of the sector falls under the 
responsibility of the Telecommunicatie Autoriteit Suriname  (TAS). Suriname is a member of the 
International Te lecommunication Union.  
4.98.   The legislative framework on telecommunications services remained unchanged since the 
previous Review. The Telecommunications Act, 2007 provides the legislative basis for the regulation 
of the market through the TAS. Many regulatory aspects were detailed in a series of state decrees, 
issued in 2007, that cover issues including licensing, interconnection, disputes, a frequency plan, 
and electromagnetic compatibility.  
4.99.   The TAS is independent of the Ministry, although its director and the  board are appointed by 
the Minister, who can also provide general guidance (Article 6). Its responsibilities include the 
assessment of applications for licences, where it advises the Minister and the President, who may 
then grant a licence. Licences for t elecommunications services may only be granted to enterprises 
legally incorporated in Suriname (Article 9). In addition to regulating the fixed and mobile telephone 
services, the TAS is responsible for regulating and issuing licences for radio stations, ca ble networks, 
and broadcasting services.  
4.100.   Service licences are only granted to enterprises legally incorporated in Suriname. The 
Telecommunications Act also includes other measures that are considered to restrict competition; 
for example, call -back services  are expressly forbidden (Article 15).  
4.101.   In 2012, a commission was set up to develop a new Telecom Law, extending coverage to 
mobile, text and data services. The process is expected to be finalized in 2019.  
4.102.   Table 4.17 shows that fixed -telephony only grew ma rginally over the last few years, to about 
89,000 subscribers in 2017. Mobile telephony, on the other hand, saw steady growth, and now has 
around 796,000 subscribers.  
Table 4.17 Selected telecommunications in dicators, 2012 –17 
 2012  2013  2014  2015  2016  2017  
Fixed subscriptions ('000)  86.5 84.9 95.9 91.9 89.0 88.9 
Mobile cellular subscriptions ('000)  631.8  868.6  753.0  750.4  806.8  795.8  
Internet subscriptions ('000)  29.2 37.1 46.4 52.7 72.0 47.8 
Internet users (% of individuals)  34.7 37.4 40.8 42.8 45.4 49.0 
Source:  Suriname authorities; and ITU. Viewed at: http://www.itu.int/ITU -
D/ICTEYE/Indicators/Indicators.aspx# , and https://w ww.itu.int/en/ITU -
D/Statistics/Documents/publications/misr2017/MISR2017_Volume2.pdf . 
4.103.   Fixed -telephony communication is a monopoly service provided by the state -owned company 
Telesur. Telesur is also one of the major providers of mobile telephony services, t ogether with Digicel 
and, until 2015, UNIQA. Both operators joined the Suriname market in 2007 after approval by the 
President. In 2015, UNIQA only had about 26,420 subscribers, and was acquired by Digicel. Digicel 
is a mobile phone network provider operat ing in 33 markets across the  Caribbean, Central America, 
and Oceania regions. The company is based in  Jamaica.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.104.   According to government officials, a tender for a third mobile licence is taking place in 
early 2019.  
4.105.   Four Internet service providers (ISPs) are  active in Suriname.  
4.4.4   Transport  
4.4.4.1   Maritime transport  
4.106.   Suriname did not make any maritime transport commitments under the GATS.  
4.107.   Its main port is the Dr. Jules Sedney Haven of Paramaribo (formerly known as Nieuwe 
Haven), followed by Nieuw Nickerie and Paranam Moengo. On average, 100,000 TEUs are handled 
annually between all three ports. In addition to the main ports, there are bauxite and oil terminals, 
and smaller general goods terminals. No detailed statistical information on the ports' activities was  
available at the time of completion of this report.  
4.108.   Suriname's main port has been facing continuous challenges over the past six years, and it 
is expected that the situation will remain the same in the years to come. Growing demand, combined 
with the Gove rnment's ambition to make it a regional hub, and the urgent need to deal with the 
narrowing of its main entry point, the Suriname river, put pressure on the Maritime Authority 
Suriname. Expanding Suriname's port capacities in general is also a major target  of the 
2017-21 OP.56  
4.109.   The most immediate challenge remains the enlargement of the Suriname River, and the 
subsequent increased accessibility for larger Panamax ships and oil tankers. According to the 
authorities, dredging plans and demands are ready, and a  tender is imminent. The process until the 
actual works begin is expected to take between 6 and 12 months. Costs involved are estimated at 
around SRD 150  million.  
4.110.   Suriname is a member of the International Maritime Organization (IMO). Maritime policy is 
the responsibility of the Ministry of Public Works, Transport, and Communication. The following 
state-owned enterprises implement the policy:  
• the Maritime Aut hority Suriname (MAS) provides river traffic control, navigational aids, 
fairway management (inclu ding dredging), pilotage, and hydrographical surveys, and 
regulates ships and seaways in Surinamese waters for compliance with legislation. It is a 
party to the International Convention on Standards, Certification and Watchkeeping for 
Seafarers (STCW); and  
• Suriname's Port Management (N.V. Havenbeheer Suriname - HBS) is responsible for 
operating the Dr. Jules Sedney port and the smaller port at Nieuw Nickerie , as well as the 
oil piers. The role of HBS is that of developer, supervisor, and regulator, while 
private-sector enterprises operate the terminals.  
4.111.   Currently, the Dr. Jules Sedney port terminals are operated by Integra Port Services 
(majority -owned by DP World Limited of the United Arab Emirates) and VSH – Transport 
Maatschappij, a Suriname holding compa ny.  
4.112.   Seventeen  port facilities are certified as fulfilling the IMO requirements of the International 
Ship and Port Facility Security Code (ISPS):  
• Paramaribo, with eight facilities for general cargo, fuel, grains, and passengers;  
• Para, with three  facilities  for bulk and general cargo , and cement;  
                                                
56 OP 2017 -21, pp. 66 -69. WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  • Nieuw Nickerie, with two facilities for general cargo and chemicals. The port was developed 
to increase capacity, including dredging the Nickerie River so that vessels of up to 
7,000  dwt can reach the port ;  
• Smalka lden, with two facilities for cement and fuel;  and 
• Marowijne  (Moengo) , with two facilities . 
4.113.   Suriname has major plans to further expand its port capacities, particularly those of 
Paramaribo, Nieuw Nickerie and Para, to service the region as a hub,  
4.114.   To a lar ge extent, Suriname's ports' competitiveness, and port and terminal handling 
capacities, depend on substantial investments in its maritime infrastructure and improvements in 
the time and costs involved in dealing with export consignments. According to the 2013 World Bank 
Doing Business Report and the World Economic Forum's Global Competitiveness Report, Suriname 
compared well with its regional competitors in terms of costs, but less so when handling time is 
involved, for both exports and imports. In the 201 9 Doing Business Report, some of the World Bank 
scores for Suriname improved. In terms of time to export, border and documentary compliance take 
84 and 12 hours, respectively, whereas costs associated are USD  468 and USD  40, respectively. 
Only in border co mpliance time does Suriname score below the average of the region. On time to 
import, border and documentary compliance time is 48 and 24 hours, respectively, and costs 
involved are USD  658 and USD  40, respectively. Only border compliance costs are slightl y higher 
than the regional average. The other scores are substantially better than the average for the Latin 
American and Caribbean region (Table 4.18).  
Table 4.18 Trading across borders  
Indicator  Suriname  Latin America 
and 
Caribbean  OECD 
high 
income  Best regulatory 
performance  
Time to export: border compliance (hours)  84  61.9  12.5 1 (19 economies)  
Cost to export: border compliance (USD)  468 529.8  139.1  0 (19 economies)  
Time to export: documentary compliance (hours)  12 52.5 2.4 1 (26 economies)  
Cost to export: documentary compliance (USD)  40 110.4  35.2 0 (20 economies)  
Time to import: border compliance (hours)  48 62.6 8.5 0 (25 economies)  
Cost to import: border compliance (USD)  658 647.2  100.2  0 (28 economies)  
Time to import: documentary compliance (hours)  24 79.1 3.4 1 (30 economies)  
Cost to import: documentary compliance (USD)  40 116.3  24.9 0 (30 economies)  
Source:  World Bank, Doing Business 2019 , Training for Reforms, Economy Profile - Suriname , p. 38. Viewed 
at: www.doingbusiness.org . 
4.4.4.2   Air transport  
4.115.   Under the GATS, Suriname made unqualified market access and national treatment 
commitments for supply modes 1 to 3, of aircraft repair and maintenance services, the selling and 
marketing of air transport services, and computer reservation system services.  
4.116.   Air transport policy is developed by the Ministry of Public Works, Transport, and 
Communication. Its Department of Civil Aviation ( Luchtvaartdienst ) provides air traffic control 
services and other support functions. The Civil Aviation Safety Authority of Suriname (CASAS), set 
up by Decree in 1997, is responsible for safety oversight in compliance with International Civil 
Aviation Organization (ICAO) standards and recommended practices.  
4.117.   The legislative framework for air transport did not change since the previous Review. Civil 
aviation is legislated in the Civil Aviation Safety and Security Act, 2002. It provides the legal basis 
for Suriname to comply  with the Chicago Convention, particularly on personnel licensing, aircraft 
nationality and registration, operations of aircraft, airworthiness of aircraft, aerodromes, 
environmental protection, security, and the safe transport of dangerous goods by air. T he Act 
provides for the Minister to set out regulations to comply with international rules, through civil 
aviation regulations.  
4.118.   The Act was preceded by Civil Aviation Act, 1935 (as modified in 1955).  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.119.   Suriname's main airport is the Johan Adolf Pengel (JAP ) International Airport, located 45 km 
outside Paramaribo. Zorg en Hoop airport, also in Paramaribo, is the second airport in the country, 
and mainly provides domestic and some regional flights. Suriname has many additional small 
airports and strips throug hout the country. The JAP Airport is currently managed by the Airport 
Management Company (Luchthavenbeheer N.V.), a parastatal company reporting directly to the 
Minister of Public Works, Transport, and Communication. In 2017, the Company became the owner 
of the JAP Airport, and renovation of the airport started. Due to ownership issues, the works had 
stalled since 2013.  Other public airports are maintained, operated, and managed by the Department 
of Civil Aviation.  
4.120.   International flights are available from t he JAP Airport to Amsterdam (Surinam Airways and 
KLM); Miami (Surinam Airways via Georgetown); Aruba (Surinam Airways); Port of Spain (Caribbean 
Airlines); Willemstad in Curaçao (Insel Air and Dutch Antilles Airways); and Belem in Brazil (Surinam 
Airways).  In addition, there are cargo flights by ABX Air and Amerijet.  
4.121.   Despite a decline in 2017, overall passenger traffic at JAP Airport grew steadily since 2010 
(Table 4.19).  
Table 4.19 Passenger traffic JAP Airpo rt, 2010 –17 
Year Aircraft movements (Int'l + domestic)  Passenger data 
Total Pax  Commercial  Other  Total  
movements  Arr. Dep. 
Total  Total  
2010  3,276   2,317   5,593   204,141   201,225   405,366  
2011  2,769   1,294   4,063   211,993   209,312   421,305  
2012  2,936   1,182   4,118   218,959   214,920   433,879  
2013  3,226   1,315   4,541   230,398   229,172   459,570  
2014  3,142   992   4,134   230,543   230,602   461,145  
2015  3,511   1,458   4,969   243,638   243,731   487,369  
2016  3,698   1,063   4,761   242,826   238,359   481,185  
2017  2,892   1,073   3,965   203,323   226,162   432,836  
Source:  Airport Management Company . 
4.122.   The national airline is the state-owned Surinam Airways ( Surinaamse Luchtvaart 
Maatschappij  -SLM). The Government owns 98% of the shares, and 2% are owned by the National 
Planning Bureau. Together with Dutch carrier KLM, it operates the Paramaribo -Amsterdam route as 
part of the Aviation Services Agreement with the Netherlands. Althou gh the Agreement allows a 
maximum of three  carriers from each country, only SLM and KLM have been designated.  
4.123.   Other domestic airlines include:  
• Blue Wing Airlines, which flies both domestic ally and to and from Guyana, Brazil, the 
Bolivarian Republic of Venezuela, and all Caribbean islands. Blue Wing is based in the Zorg 
en Hoop Airport;  
• Caricom Airways, which provid es chartered flights from Paramaribo to the Caribbean;  
• Gum Air, which flies mostly do mestic ally from Zorg en Hoop;  
• Fly All Ways, which is a relative newcomer , based in Paramaribo since 2016 , flies to several 
regional destinations;  and 
• Hi-Jet Helicopter Services, which is a charter company based in Zorg en Hoop.  
4.124.   Under the Civil Aviation Act , 2002, subject to the terms of bilateral or regional air transport 
agreements, any airline wishing  to provide commercial air transport services within, to, or from 
Suriname must be based in Suriname and be substantially owned and controlled by 
Surinamese -based enterprises or nationals. CARICOM nationals are treated in the same way as 
Suriname nationals.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  4.125.   Suriname is a party to the Caribbean Community Air Services Agreements of 1996, and the 
Air Transport Agreement among the member States and associate membe rs of the Association of 
Caribbean States of 2004, which it ratified in 2008 . 
4.126.   Suriname also has bilateral aviation agreements with Aruba; Barbados; Brazil; Cuba; Ghana; 
Grenada; the Netherlands; the Netherlands Antilles; Trinidad and Tobago; the United  States; and 
the Bolivarian Republic of Venezuela. The June 2012 "open skies" bilateral air transport agreement 
with the United States entered into force in December 2014. It grants reciprocal fifth -freedom 
rights57 to airlines from each country.  
4.4.4.3   Land transport  
4.127.   Suriname has a paved road network of some 1,130 km. It connects Paramaribo with the 
borders with French Guyana and Guyana; onward connection to these countries is effectuated over 
the border rivers by ferry. There is no road connection with Brazil. Surina me does not have a rail 
network.  
4.4.5   Tourism  
4.128.   Under the GATS, Suriname made specific commitments with regard to tourism and travel 
services, providing unqualified market access and national treatment for the supply of services, 
through modes 1 to 3, in the subs ectors of hotels and restaurants and travel agencies and tour 
operators.  
4.129.   In the period 2012 -16, the annual number of tourists grew steadily. In 2016, 
257,000  tourists came to Suriname, compared to 240,000 in 2012. In 2010, this number stood 
at 205,000.  
4.130.   In the same period, the main country or region of origin of tourists was similar to the 
preceding five -year period. Almost half of the visitors came from Europe, of which over 90% were 
from the Netherlands, mostly visiting family or friends. The other half came largely from 
South  America and the Caribbean region.  
4.131.   The MTIT is responsible for policy relating to tourism. The Suriname Tourism Foundation, 
which was founded in 1996, is listed as a parastatal entity under this Ministry. It works together 
with the Ministry and the Chamber of Commerce to promote tourism, collect data, improve 
infrastructure and, generally, to implement government policy.  
4.132.   As was the case in the previous five -year plan, the 2017 –21 Multi -Annual Development Plan 
of Suriname identifies t ourism as one of the key sectors from which economic growth can be 
generated. Suriname has already simplified visa requirements and procedures for tourists. It now 
seeks to establish public -private partnerships with industries that are active in the sector , and create 
links with the creative industries. To this effect, the Government intends to develop a Tourism Law, 
and a Tourism Masterplan, and establish a Tourism Authority, as part of an overall Strategic 
Development Plan for Tourism Sector and Creative Industries.58  
4.133.   In November 2017, the MTIT published the National Strategic Tourism Plan 2018 –3059, 
aimed at promoting and developing tourism, mostly sustainable, as a priority industry for the coming 
20 to 30 years.
                                                
57 The fifth freedom allows an airline to carry revenue traffic between foreign countries as a part of 
services connecting the airline's own country. It is the right to carry passengers from one's own country to a 
second country, and from that country to a third country (and so on).  
58 Multi Annual Development Plan 2017 –21, pp. 112 –114 (in Dutch).  
59 MTIT. Av ailable in Dutch only. Viewed at: http://www.gov.sr/ministerie -van-hi-t/actueel/strategisch -
toerisme -plan.aspx . WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  5  APPENDIX TABLES  
Table A1. 1 Merchandise exports and re -exports by HS sections and main HS chapters, 
2012–17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total exports and re -exports  2,380  2,204  1,918  .. 1,235  1,441    
(% of total exports and re -exports)  
1 - Live animals; animal products  0.2 0.1 0.3 .. 0.3 0.4  
02. Meat and edible meat offal  0.0 0.0 0.2 .. 0.1 0.3  
01. Live animals  0.1 0.0 0.0 .. 0.1 0.1 
2 - Vegetable products  3.0 1.9 2.8 .. 3.4 2.2  
10. Cereals  2.9 1.8 2.7 .. 3.3 2.1  
07. Edible vegetables and certain roots and tubers  0.1 0.1 0.1 .. 0.1 0.1 
3 - Animal or vegetable fats and oils; prepared edible fats  0.1 0.0 0.3 .. 0.1 0.1 
4 - Prepared foodstuffs; beverages, spirits and vinegar; tobacco  1.4 1.5 2.1 .. 1.9 2.4  
22. Beverages, spirits and vinegar  1.0 0.9 1.2 .. 1.5 1.8  
21. Miscellaneous edible preparations  0.1 0.1 0.2 .. 0.2 0.3  
20. Preparations of vegetables, fruit, nuts or other parts of plants  0.1 0.0 0.1 .. 0.1 0.2  
24. Tobacco and manufactured tobacco substitutes  0.2 0.3 0.6 .. 0.0 0.1 
5 - Mineral products  5.5 8.4 10.5 .. 9.7 9.8  
27. Mineral fuels, mineral oils and products of their distillation; 
bituminous substances  5.5 8.4 10.5 .. 9.3 9.7 
 
25. Salt; sulphur; earths and stone; plastering materials, lime and 
cement  0.0 0.0 0.0 .. 0.3 0.1 
6 - Products of the chemical or allied industries  0.3 0.3 0.3 .. 0.7 0.4  
34. Soap, organic surface -active agents, washing preparations, 
lubricating preparations, artificial waxes  0.1 0.1 0.2 .. 0.3 0.2 
 
38. Miscellaneous chemical products  0.1 0.0 0.0 .. 0.1 0.1  
30. Pharmaceutical products  0.0 0.0 0.0 .. 0.2 0.0 
7 - Plastics and articles thereof; rubber and articles thereof  0.2 0.3 0.4 .. 0.4 0.3  
39. Plastics and articles thereof  0.2 0.3 0.4 .. 0.4 0.3 
8 - Raw hides and skins, leather, furskins and articles thereof; travel 
goods, handbags; articles of animal gut  0.0 0.0 0.0 .. 0.0 0.0 
9 - Wood and articles of wood; wood charcoal; cork and articles of 
cork 0.8 0.9 1.4 .. 3.1 4.0 
 
44. Wood and articles of wood; wood charcoal  0.8 0.9 1.4 .. 3.1 4.0 
10 - Pulp of wood or of other fibrous cellulosic material; paper and 
paperboard and articles thereof  0.0 0.0 0.1 .. 0.1 0.1 
11 - Textiles and textile articles  0.0 0.0 0.0 .. 0.1 0.1 
12 - Footwear, headgear, umbrellas; prepared feathers and articles; 
artificial flowers  0.0 0.0 0.0 .. 0.0 0.0 
13 - Articles of stone, plaster, cement, etc.; ceramic products; glass 
and glassware  0.0 0.0 0.0 .. 0.0 0.0 
14 - Natural or cultured pearls, precious or semi -precious stones, 
precious metals  0.0 0.0 0.0 .. 0.0 73.2 
 
71. Natural or cultured pearls, precious or semi-precious stones, 
precious metals, metals clad with precious metal, and articles 
thereof; imitation jewellery; coin  0.0 0.0 0.0 .. 0.0 73.2 
15 - Base metals and articles of base metal  0.5 0.6 0.6 .. 0.9 0.5  
72. Iron and steel  0.3 0.2 0.2 .. 0.2 0.2  
73. Articles of iron or steel  0.1 0.2 0.2 .. 0.2 0.1  
76. Aluminium and articles thereof  0.1 0.1 0.1 .. 0.1 0.1 
16 - Machinery and mechanical appliances; electrical equipment; 
television image and sound  recorders  0.8 0.8 1.2 .. 1.9 1.2 
 
84. Nuclear reactors, boilers, machinery and mechanical 
appliances; parts thereof  0.6 0.6 1.0 .. 1.6 1.0 
 
85. Electrical machinery and equipment and parts thereof; 
television image and sound recorders and reproducers  0.2 0.2 0.2 .. 0.3 0.2 
17 - Vehicles, aircraft, vessels and associated transport equipment  0.1 0.5 0.4 .. 0.4 0.4 
18 - Optical, photographic, precision, medical or surgical instruments; 
clocks and watches; musical instruments  0.4 0.3 0.8 .. 1.1 0.4 
 
90. Optical, photographic, cinematographic, measuring, checking, 
precision, medical or surgical instruments and apparatus  0.4 0.3 0.8 .. 1.1 0.4 
19 - Arms and ammunition  0.0 0.0 0.0 .. 0.0 0.0 
20 - Miscellaneous manufactured articles  0.1 0.1 0.1 .. 0.2 0.1  
94. Furniture; bedding, mattresses, mattress supports, cushions 
and similar stuffed furnishings; lamps and light fittings  0.1 0.1 0.1 .. 0.1 0.1 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 .. 0.0 0.0 
Othersa 86.5 84.3 78.6 .. 75.7 4.3 
.. Not available.  
a Based on the previous Secretariat Report and national trade statistics, the Secretariat believes that a 
large share of exports classified as "Others" actually are gold exports. This assessment may be 
validated by the share of HS Chapter 71 shown for 2017 (73.2%, up from zero the previous years).  
Source:  UNSD Comtrade database.  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table A1. 2 Merchandise imports by HS sections and main HS chapters, 2012 –17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total  1,733  2,308  1,827  .. 1,174  1,209    
(% of total imports)  
1 - Live animals; animal products  3.0 2.2 2.6 .. 3.0 2.7  
02. Meat and edible meat offal  1.7 1.2 1.5 .. 1.8 1.4  
04. Dairy produce; birds' eggs; natural honey; edible products of 
animal origin  0.9 0.8 1.0 .. 1.1 1.1 
 
03. Fish and crustaceans, molluscs and other aquatic 
invertebrates  0.1 0.1 0.1 .. 0.1 0.1 
2 - Vegetable products  1.9 1.6 2.1 .. 2.8 2.7  
07. Edible vegetables and certain roots and tubers  0.4 0.5 0.5 .. 1.0 0.9  
10. Cereals  0.7 0.5 0.7 .. 0.7 0.6  
11. Products of the milling industry; malt; starches; inulin; 
wheat gluten  0.4 0.4 0.3 .. 0.4 0.4 
 
08. Edible fruit and nuts; peel of citrus fruit or melons  0.2 0.1 0.3 .. 0.3 0.3  
09. Coffee, tea, mate and spices  0.1 0.1 0.1 .. 0.2 0.2 
3 - Animal or vegetable fats and oils; prepared edible fats 1.2 0.9 1.0 .. 1.3 1.3 
4 - Prepared foodstuffs; beverages, spirits and vinegar; tobacco  9.1 6.6 8.0 .. 9.5 10.1  
21. Miscellaneous edible preparations  1.8 1.3 1.5 .. 2.1 2.1  
22. Beverages, spirits and vinegar  1.2 1.1 1.3 .. 1.5 1.7  
17. Sugars and sugar confectionery  1.1 0.8 1.0 .. 1.3 1.5  
19. Preparations of cereals, flour, starch or milk; pastrycooks' 
products  1.8 0.7 0.9 .. 1.1 1.3 
 
23. Residues and waste from the food industries; prepared 
animal fodder  0.8 0.8 1.0 .. 1.1 1.1 
 
20. Preparations of vegetables, fruit, nuts or other parts of 
plants  0.8 0.7 0.9 .. 0.8 0.9 
 
24. Tobacco and manufactured tobacco substitutes  1.0 0.8 1.0 .. 0.9 0.7 
5 - Mineral products  17.4 23.2 22.7 .. 21.1 12.8  
27. Mineral fuels, mineral oils and products of their distillation; 
bituminous substances  15.5 21.7 21.0 .. 18.9 10.9 
 
25. Salt; sulphur; earths and stone; plastering materials, lime 
and cement  1.9 1.5 1.7 .. 2.2 1.8 
6 - Products of the chemical or allied industries  9.7 7.2 9.3 .. 9.8 10.6  
28. Inorganic chemicals; organic or inorganic compounds of 
precious metals, of rare -earth metals  3.7 2.5 2.5 .. 2.0 2.9 
 
38. Miscellaneous chemical products  1.3 1.1 2.5 .. 1.9 2.2  
30. Pharmaceutical products  0.8 0.6 0.8 .. 1.2 1.3  
31. Fertilizers  0.9 0.7 1.0 .. 1.3 1.2  
34. Soap, organic surface -active agents, washing preparations, 
lubricating preparations, artificial waxes  0.8 0.5 0.7 .. 0.9 0.9 
7 - Plastics and articles thereof; rubber and articles thereof  5.7 4.4 4.8 .. 5.3 6.9  
39. Plastics and articles thereof  3.6 3.2 3.5 .. 4.0 4.8  
40. Rubber and articles thereof  2.0 1.2 1.3 .. 1.4 2.1 
8 - Raw hides and skins, leather, furskins and articles thereof; 
travel goods, handbags; articles of animal gut  0.1 0.1 0.1 .. 0.1 0.1 
9 - Wood and articles of wood; wood charcoal; cork and articles of 
cork 0.4 0.3 0.2 .. 0.3 0.3 
 
44. Wood and articles of wood; wood charcoal  0.4 0.3 0.2 .. 0.3 0.3 
10 - Pulp of wood or of other fibrous cellulosic material; paper and 
paperboard and articles thereof  2.3 2.4 2.1 .. 2.4 2.5 
 
48. Paper and paperboard; articles of paper pulp, of paper or of 
paperboard  2.0 1.5 1.8 .. 2.1 2.2 
 
49. Printed books, newspapers, pictures and other products of 
the printing industry  0.3 0.9 0.3 .. 0.3 0.3 
11 - Textiles and textile articles  2.3 1.2 1.6 .. 1.6 1.7  
62. Articles of apparel and clothing accessories, not knitted or 
crocheted  0.6 0.3 0.4 .. 0.4 0.4 
 
63. Other made up textile articles; sets; worn clothing and worn 
textile articles; rags  0.7 0.2 0.3 .. 0.3 0.3 
12 - Footwear, headgear, umbrellas; prepared feathers and articles; 
artificial flowers  0.8 0.3 0.4 .. 0.4 0.4 
 
64. Footwear, gaiters and the like; parts of such articles  0.7 0.3 0.3 .. 0.3 0.4 
13 - Articles of stone, plaster, cement, etc.; ceramic products; glass 
and glassware  1.3 1.1 1.3 .. 1.4 1.4 
 
69. Ceramic products  0.7 0.6 0.6 .. 0.6 0.6  
68. Articles of stone, plaster, cement, asbestos, mica or similar 
materials  0.3 0.2 0.3 .. 0.3 0.4 
14 - Natural or cultured pearls, precious or semi -precious stones, 
precious metals  0.2 0.0 0.0 .. 0.0 0.0 
15 - Base metals and articles of base metal  8.4 7.3 7.8 .. 8.6 7.5  
73. Articles of iron or steel  4.2 4.3 3.9 .. 4.6 4.6  
72. Iron and steel  2.5 1.7 2.2 .. 2.0 1.4  
76. Aluminium and articles thereof  0.7 0.5 1.0 .. 1.0 0.7 WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Description  2012  2013  2014  2015  2016  2017  
16 - Machinery and mechanical appliances; electrical equipment; 
television image and sound recorders  21.7 29.1 21.9 .. 21.9 26.5 
 
84. Nuclear reactors, boilers, machinery and mechanical 
appliances; parts thereof  16.7 22.6 14.7 .. 16.6 19.6 
 
85. Electrical machinery and equipment and parts thereof; 
television image and sound recorders and reproducers  5.0 6.5 7.2 .. 5.2 6.8 
17 - Vehicles, aircraft, vessels and associated transport equipment  10.1 8.1 10.3 .. 7.0 8.9  
87. Vehicles other than railway or tramway rolling -stock, and 
parts and accessories thereof  9.1 7.4 8.6 .. 6.8 7.8 
18 - Optical, photographic, precision, medical or surgical 
instruments; clocks and watches; musical instruments  1.8 1.5 1.5 .. 1.6 1.7 
 
90. Optical, photographic, cinematographic, measuring, 
checking, precision, medical or surgical instruments and 
apparatus  1.7 1.5 1.5 .. 1.6 1.6 
19 - Arms and ammunition  0.0 0.0 0.1 .. 0.1 0.0 
20 - Miscellaneous manufactured articles  1.9 1.8 1.6 .. 1.3 1.5  
94. Furniture; bedding, mattresses, mattress supports, cushions 
and similar stuffed furnishings; lamps and light fittings  1.4 1.5 1.2 .. 0.9 1.0 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 .. 0.0 0.0 
Others  0.6 0.6 0.6 .. 0.6 0.3 
.. Not available.  
Source:  UNSD Comtrade database.  
  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table A1. 3 Merchandise exports and re -exports by trading partner, 2012 –17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total exports  2,380  2,204  1,918  .. 1,235  1,441   
(% of exports and re -exports)  
Americas  26.8 28.9 47.6 .. 18.3 17.2 
 United States  10.3 11.1 24.3 .. 2.3 1.9 
 Other America  16.5 17.8 23.2 .. 16.0 15.3 
 Guyana  3.5 4.4 7.3 .. 5.4 8.0 
 Trinidad and Tobago  1.5 1.7 3.6 .. 4.9 2.6 
 Jamaica  2.4 1.9 2.3 .. 2.2 1.3 
 Canada  5.4 5.2 5.8 .. 0.4 0.8 
 Venezuela, Bolivarian Republic of  0.0 0.0 0.4 .. 0.5 0.6 
 Brazil  0.9 0.5 0.8 .. 0.3 0.4 
 Panama  0.0 0.0 0.4 .. 0.3 0.3 
 Barbados  1.5 2.9 1.9 .. 0.6 0.3 
 Grenada  0.0 0.0 0.0 .. 0.0 0.2 
 Antigua and Barbuda  0.0 0.1 0.0 .. 0.1 0.2 
 Saint Lucia  0.0 0.2 0.1 .. 0.1 0.2 
 Haiti 0.0 0.0 0.1 .. 0.4 0.2 
Europe  37.1 35.0 27.7 .. 44.6 44.1 
 EU(28)  13.1 12.1 13.8 .. 14.6 12.0 
 Belgium  9.1 8.4 8.5 .. 8.1 10.8 
 Netherlands  1.6 1.3 2.8 .. 1.8 0.6 
 France  1.9 2.0 2.1 .. 3.4 0.5 
 Italy 0.0 0.1 0.1 .. 0.4 0.0 
 Germany  0.0 0.0 0.1 .. 0.2 0.0 
 EFTA 24.1 22.8 13.6 .. 30.0 32.0 
 Switzerland  22.3 22.4 13.6 .. 29.9 32.0 
 Other Europe  0.0 0.0 0.3 .. 0.0 0.0 
Commonwealth of Independent States (CIS)  0.0 0.0 0.0 .. 0.0 0.0 
Africa  0.8 0.7 0.2 .. 0.1 0.0 
Middle East 33.7 34.0 22.0 .. 33.0 7.4 
 United Arab Emirates  33.7 34.0 22.0 .. 33.0 7.4 
Asia 1.1 1.4 2.5 .. 3.7 27.0 
 China  0.4 0.6 1.7 .. 1.0 1.0 
 Japan  0.2 0.1 0.1 .. 0.3 0.0 
 Other Asia  0.6 0.6 0.6 .. 2.4 26.1 
 Hong Kong, China  0.0 0.0 0.0 .. 0.1 22.5 
 Singapore  0.3 0.3 0.2 .. 1.2 1.7 
 India 0.1 0.1 0.2 .. 0.5 1.2 
 Viet Nam  0.0 0.0 0.1 .. 0.2 0.3 
Other  0.4 0.0 0.0 .. 0.4 4.2 
.. Not available . 
Source:  UNSD Comtrade database.  
  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table A1. 4 Merchandise imports by trading partner, 2012 –17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total imports  1,733  2,308  1,827  .. 1,174  1,209   
(% of imports)  
Americas  61.5 60.2 64.4 .. 63.1 57.8 
 United States  26.6 20.1 27.5 .. 26.5 31.8 
 Other America  34.9 40.1 36.9 .. 36.6 26.0 
 Trinidad and Tobago  18.4 17.5 10.6 .. 15.8 9.7 
 Saint Lucia  0.1 2.1 6.2 .. 3.8 2.6 
 Brazil  3.3 2.1 2.1 .. 2.4 2.4 
 Canada  1.4 0.6 0.5 .. 2.4 1.7 
 Colombia  1.1 0.9 1.4 .. 1.8 1.7 
 Guyana  1.0 0.8 0.5 .. 0.9 1.0 
 Mexico  0.6 0.8 1.1 .. 0.8 0.9 
 Panama  1.4 1.1 1.2 .. 1.9 0.8 
 Dominican Republic  1.6 1.2 1.4 .. 0.7 0.7 
 Guatemala  0.4 0.2 0.2 .. 0.5 0.6 
 Antigua and Barbuda  1.1 3.0 1.6 .. 1.5 0.5 
 Jamaica  0.6 0.7 1.1 .. 0.7 0.5 
 Costa Rica  0.5 0.3 0.5 .. 0.8 0.4 
 Venezuela, Bolivarian Republic of  0.4 0.3 0.8 .. 0.2 0.4 
 Curaçao  1.4 6.5 6.4 .. 1.1 0.4 
 Argentina  0.7 0.2 0.3 .. 0.2 0.4 
 Barbados  0.2 0.4 0.1 .. 0.4 0.4 
 Chile 0.4 0.2 0.1 .. 0.1 0.3 
 Peru 0.1 0.1 0.1 .. 0.2 0.2 
Europe  23.7 27.6 20.5 .. 21.4 23.4 
 EU(28)  22.9 27.3 19.9 .. 20.6 22.1 
 Netherlands  18.5 13.5 14.4 .. 14.7 13.8 
 Germany  0.8 0.8 1.3 .. 1.7 2.2 
 Belgium  1.0 1.0 0.7 .. 1.6 1.6 
 Italy 0.2 6.5 0.7 .. 0.5 1.1 
 France  0.8 0.6 1.6 .. 0.4 0.9 
 EFTA 0.5 0.1 0.2 .. 0.2 0.4 
 Switzerland  0.5 0.1 0.2 .. 0.2 0.4 
 Other Europe  0.3 0.2 0.4 .. 0.6 0.9 
 Turkey  0.3 0.2 0.4 .. 0.6 0.9 
Commonwealth of Independent States (CIS)  0.1 0.0 0.0 .. 0.4 0.6 
 Russian Federation  0.0 0.0 0.0 .. 0.3 0.5 
 Ukraine  0.1 0.0 0.0 .. 0.0 0.1 
Africa  0.1 0.2 0.4 .. 0.7 0.7 
 South Africa  0.0 0.2 0.2 .. 0.6 0.6 
Middle East  0.0 0.1 0.1 .. 0.2 0.2 
 United Arab Emirates  0.0 0.1 0.1 .. 0.1 0.1 
Asia 14.2 11.7 14.4 .. 13.7 17.1 
 China  6.5 5.0 6.7 .. 6.5 8.6 
 Japan  3.0 2.5 3.1 .. 2.2 2.8 
 Other Asia  4.7 4.2 4.6 .. 5.0 5.8 
 Thailand  0.8 0.7 0.8 .. 1.0 1.4 
 Hong Kong, China  0.5 0.3 0.4 .. 1.4 1.2 
 India 0.6 0.8 0.9 .. 0.5 0.9 
 Malaysia  0.3 0.5 0.2 .. 0.6 0.7 
 Korea, Democratic People's Republic of  1.6 0.8 0.5 .. 0.3 0.3 
 Indonesia  0.2 0.2 0.2 .. 0.3 0.3 
Other  0.3 0.2 0.3 .. 0.5 0.3 
.. Not available . 
Source:  UNSD Comtrade database.  
  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Table A3. 1 State -owned enterprises and public sector foundations  
Name  Activity  Oversight ministry  
Agriculture    
Gemeenschappelijke Plantaardige en 
Vettenbedrijven (GPOV)  Production of edible oil  Ministry of Agriculture, 
Husbandry, and Fishery  
Landbouwmaatschappij Brokopondo  Regional agricultural society 
(vegetable oil)  Ministry of Agriculture, 
Husbandry, and Fishery  
Landbouwmaatschappij Patamacca 
(PATAMACCA)  Regional agricultural society 
(vegetable oil)  Ministry of Agriculture, 
Husbandry, and Fishery  
Stichting Machinale Landbouw (SML)  Rice plantation  Ministry of Agriculture, 
Husbandry, and Fishery  
Surinaamse Garnalenvangst 
Maatschappij (SUGAM)  Shrimp fishing and processing  Ministry of Agriculture, 
Husbandry, and Fishery  
Surina amse Landbouwbedrijven 
(SURLAND)  Banana plantation  Ministry of Agriculture, 
Husbandry, and Fishery  
Tropica Food Industrie (Tropics)  Fruit plantations, processing  Ministry of Agriculture, 
Husbandry, and Fishery  
Victoria N.V.  Production of soya oil  Ministry of Agriculture, 
Husbandry, and Fishery  
Agricultural business    
Centrale voor Vissershaven in 
Suriname (CEVIHAS)  Central fishing port  Ministry of Agriculture, 
Husbandry, and Fishery  
Landsbedrijf Alliance (ALLIANCE)  Fruit plantations  Ministry of Agriculture, 
Husbandry, and Fishery  
Melkcentrale Industrie  Milk production and import  Ministry of Agriculture, 
Husbandry, and Fishery  
Multipurpose Corantijn Project (MCP)  Infrastructure for rice production  Ministry of Agriculture, 
Husbandry, and Fishery  
Stg. behoud bananen sector (SBBS)  Banana plantation  Ministry of Agriculture, 
Husbandry, and Fishery  
Surinaamse Amerikaanse 
Industriemaatschappij (SAIL)  Shrimp fishing and processing  Ministry of Agriculture, 
Husbandry, and Fishery  
Surinam Rice Operation  Rice operation  Ministry of Agriculture, 
Husbandry, and Fishery  
Banking    
De Surinaamse Bank (DSB)  Commercial bank  Ministry of Finance  
Handels -, Krediet - en Industrie Bank 
(HAKRINBANK)  Commercial bank  Ministry of Finance  
Landbouwbank (LBB)  Commercial bank  Ministry of Agricultural, 
Husbandry, and Fishery  
Nationale Ontwikkelings Bank (NOB)  National development bank  Ministry of Finance  
Surinaamse Postspaarbank (SPSB)  Commercial bank  Ministry of Finance  
Volkscredietbank  Commercial bank  Ministry of Finance  
Communication/media    
Landsbedrijf Nationale Loterij  Lottery  Ministry of Finance  
Lotterijfonds Suriname  Lottery  Ministry of Finance  
Radio Boskopoe  Regional radio broadcasting  Ministry of Regional 
Development  
Stichting Radio -omroep Suriname 
(SRS)  Radio broadcasting  Ministry of Home Affairs  
Surinaamse Nieuws Agentschap 
(SNA)  Suriname news agency  Ministry of Home Affairs  
Surinaamse Televisie Stichting  Television broadcasting  Ministry of Home Affairs  
Telecommunicatie Autoriteit 
Suriname (TAS)  Telecommunication board  Ministry of Public Works, 
Transport and Communication  
Natural resource industries    
Bruynzeel Suriname 
Houtmaatschappij (BSH)  Lumber and wood processing  Ministry of Physical Planning, 
Land and Forestry Management  
Grasshopper Aluminum Co. 
(GRASSALCO)  Gold, granite, and mineral mining  Ministry of Natural Resources  
Staatsolie Maatschappij Suriname 
(STAATSOLIE)  Crude oil exploration and refining  Ministry of Natural Resources  
Steenslagbedrijf Phedra  Stone mining  Ministry of Natural Resources  
Public utilities    
Energie Bedrijven Suriname (EBS)  National power and gas supply  Ministry of Natural Resources  
Maritieme autoriteit Suriname (MAS)  Maritime authority  Ministry of Transportation, 
Communication, and Tourism  
N.V. Havenbeheer Suriname  Port authority  Ministry of Transportation, 
Communication, and Tourism  WT/TPR/S/ 391/Rev.1  • Suriname  
 
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  Name  Activity  Oversight ministry  
Surinaams Postbedrijf  Postal service  Ministry of Finance  
Surinaamse Waterleiding 
Maatschappij (SWM)  National water supply and 
distribution  Ministry of Natural Resources  
Telecommunicatiebedrijf Suriname 
(TELESUR)  Telephone company  Ministry of Transportation, 
Commun ication, and Tourism  
Wegenautoriteit  Road maintenance authority  Ministry of Finance  
Self-reliance  Insurance  Ministry of Finance  
Waarborgfonds Motorverkeer  Guarantee fund for vehicles  Ministry of Finance  
Shipping and transportation    
Luchthavenbeheer Zanderij  Airport authority  Ministry of Transportation, 
Communication, and Tourism  
N.V. Havenbeheer Suriname  Port authority  Ministry of Transportation, 
Communication, and Tourism  
Nationaal Vervoersbedrijf (NVB)  Public transportation  Ministry of Transportation, 
Communication, and Tourism  
Scheepvaart Maatschappij Suriname 
(SMS)  Shipping company  Ministry of Transportation, 
Communication, and Tourism  
Surinaamse Luchtvaartmaatschappij 
(SLM)  Airline  Ministry of Transportati on, 
Communication, and Tourism  
Tourism    
Torarica Hotelmaatschappij 
(TORARICA)  Hotel Ministry of Transportation, 
Communication, and Tourism  
Other    
N.V. Suriname Zwaarmaterieel 
(SURZWAM)  Heavy equipment  Ministry of Agriculture, 
Husbandry, and Fishery  
Source:  Information provided by the authorities.  
 
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