WT/TPR/M/320  
30 October 2015  
(15-5749)  Page: 1/33  
Trade Policy Review Body 
15 and 17 September 2015  
 
  TRADE POLICY REVIEW 
GUYANA  
MINUTES OF THE MEETING 
Chairperson: H.E. Mr Atanas Atanassov Paparizov (Bulgaria) 
CONTENTS 
 
1  INTRODUCTORY REMARKS BY THE CHAI RPERSON ....................................................... 2  
2  OPENING STATEMENT BY THE RE PRESENTATIVE OF GUYANA ...................................... 4  
3  STATEMENT BY THE DISCUSSANT ................................................................................ 9  
4  STATEMENTS BY MEMBERS ........................................................................................ 12  
5  REPLIES BY THE REPRESENTATIVE OF  GUYANA AND ADDITIONAL COMMENTS ......... 25  
6  CONCLUDING REMARKS BY THE CHAI RPERSON ......................................................... 32  
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies 
provided by Guyana are reproduced in document WT/TPR/M/320/Add.1 and will be available online 
at http://www.wto.org/english/ tratop_e/tpr_e/tp_rep_e.htm. WT/TPR/M/320 • Guyana 
 
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  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1.1.  The third Trade Policy Review of Guyana was held on 15 and 17 September 2015. The 
Chairperson H.E. Mr Atanas Atanassov Paparizov (Bulgaria) welcomed the delegation of Guyana headed by Honourable Mr Carl B. Greenidge, Vice -President and Minister of Foreign Affairs; the 
rest of the delegation from Georgetown; and the discussant, H.E. Ambassador Eduardo Ernesto 
Sperisen-Yurt (Guatemala). 
1.2.  The Chairperson recalled the purpose of the Tr ade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Guyana was contained in document WT/TPR/G/320 
and that of the WTO Secretariat in WT/TPR/S/320. 
1.3.  Guyana opted for the alternative timeline for its TPR. Questions by the following delegations 
had been submitted in writing before the dead line of 5.30 pm on 18 August and had been 
transmitted to the delegation of Guyana: Colombia; the United States; Canada; Japan; the 
European Union; Mexico; and Brazil. The following delegations submitted written questions after the deadline: China; Korea; Trinidad and Tobago; and Thailand. These questions had also been 
transmitted to the delegation of Guyana. 
1.4.  The economic performance of Guyana had improved since its last review in 2009. GDP growth 
had been robust over the last five years, wi th an average annual growth rate of about 5%. 
Guyana's GDP per capita in 2014 was estimated to be around US$4,000, compared with around 
US$2,360 in 2009. The economic growth was supported, in particular, by foreign direct investment 
and the expansion of private sector credit. Despit e of the sound economic development, challenges 
remained, including the growing current account deficit and relatively low foreign exchange 
reserves. 
1.5.  Guyana's economy largely depended on exports of some primary commodities such as sugar, 
gold, bauxite, shrimp, timber, and rice. During  the review period, Guyana's merchandise and 
services imports had exceeded exports; its goods and services trade deficit had contributed to a 
persistent current account deficit, which had amounted to around 15% of GDP in 2014, compared with around 11% in 2009. 
1.6.  Guyana was an original Member of the WTO. The Chairperson was pleased to note that both 
the Government and the Secretariat reports underlined that Guyana placed great importance to effective functioning of the Multilateral Trading System. At the same time, Guyana coordinated its trade policy within the Caribbean Community. Duri ng the review period, no new regional trade 
agreements involving Guyana had been concluded. 
1.7.  The Chairperson had noted in particular that the current Government, which had been elected 
in May 2015, had initiated or had announced several public sector reforms with a view to raising 
Guyana's economic performance and advancing its integration to the regional and global economy. 
These included reforms in trade and investment regimes, such as tax reforms and non-discriminatory treatment of investors, establishment of a public procurement commission, 
liberalization of the telecommunications sector, and the development of the tourism sector. The 
Chairperson was certain that Members would wish  to know more details of these reforms. 
Members also wished to know how Guyana intended to address infrastructure constraints and the Government's strategies for the energy and transport sectors.  
1.8.  Both the Secretariat report and the Government report indicated that Guyana intended to 
diversify its economy from the traditional sectors. In particular, Guyana had identified the information and communication technologies sector as a top priority. Members wished to hear 
more from Guyana about how it planned to diversify its economy.  
1.9.  At the last TPR of Guyana, Members had raised questions on many issues, some of which 
were repeated this time  by different delegations. These included:  
 Zero-rated value added tax (VAT) applied to some locally produced products but not to its 
imported equivalents; 
 Government's actions for updating the intellectual property legislation; and WT/TPR/M/320 • Guyana 
 
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   Outstanding WTO notifications. 
1.10.  At this TPR, Members also noted there had been several notable developments in Guyana 
over the last six years. For example: 
 Guyana further streamlined its customs procedures. Through the operation of risk 
management, physical inspections were no longer required for each consignment of imports 
and exports. Guyana had established in April 2015 a national committee for the implementation of the Agreement on Trade Fa cilitation (TFA). Members asked for more 
details from Guyana on how it planned to implement the TFA, and looked forward to 
Guyana's submission of its Category A notification. 
 The legislative framework for sanitary and phytosanitary (SPS) measures had been updated, 
notably through new laws adopted in 2011. Under the new laws, import procedures for 
animal and animal products were simplified. Gu yana established a national enquiry point in 
the same year. Members encouraged Guyana to continue its effort to improve the transparency of its SPS regime, in particular, notifications to the WTO. 
 Guyana's business environment had been improv ed by, for example, the reduction of the 
corporation tax rates; however, as suggested by some Members, the structure of the corporation tax rates appeared to be complex.  
 Guyana's legislation on government procurement provided preferences to local suppliers and 
small- and medium-sized enterprises (SMEs). Members asked for the details of how these provisions were implemented. 
 Agriculture accounted for around 18.3% of GDP in 2014, down from 20.6% in 2009; this 
mainly reflected a reduction of sugar cane prod uction. Members were interested to know the 
details of support measures accorded to sugar cane production. The Chairperson noted that Guyana was seeking to develop "non-traditional" products including coconut, pepper, 
plantain, pineapple and pumpkin. 
 Services, which had accounted for around 60% of GDP in 2014, also drew Members' 
attention, in particular, concerning market access in certain subsectors such as financial 
services, telecommunications, and transport.  
1.11.  The Chairperson noted that delegations referred in their questions to these and many other 
issues and he looked forward to hearing comments from Guyana. 
1.12.  The Chairperson closed his introductory remark s by wishing Guyana a very successful third 
Trade Policy Review. He looked forward to its active engagement in this TPR. 
1.13.  He informed delegations that the podcast of th e meeting could be accessed on the Members' 
website after the first day of the meeting. WT/TPR/M/320 • Guyana 
 
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF GUYANA (HONOURABLE MR CARL 
B. GREENIDGE) 
2.1.  I wish to thank you for your support to, and interest in, the Review of my country’s trade 
policy and, of course, for the effective functionin g of the multilateral trading system under the 
WTO. 
2.2.  Permit me to recognize in a special way, our Caribbean Members, most of whom have also 
already undertaken their third Review. As yo u know, the Caribbean Community (CARICOM), 
comprising small vulnerable economies, has not been shy in extending its firm support for and 
embrace of a free, fair and rules-based multilat eral trading system. Guyana fully shares this 
commitment with its CARICOM sister States. 
2.3.  I wish to also acknowledge the sterling work undertaken by the Secretariat staff and 
especially the members of the Trade Policies Re view Division in the conduct of this Review. 
2.4.  As you are aware, this third Trade Policy Re view of Guyana has coincided with important 
changes taking place in Guyana. Trade reform is a key and critical part of these changes. Soon 
after its accession to office, the current Government outlined several strategic priorities to 
fast-track its vision for a Guyanese economy that  is based on a predictable and forward-looking 
trade and investment regime, strong public a ccountability and good environmental practices. 
Political and economic background to the review 
2.5.  On 11 May 2015, the Guyana electorate went to the polls and elected a new Government. 
That Government represents a collection of six parties spanning a wide ideological spectrum – from WPA to AFC and GAP and a broad selection of both ethnic and geographical areas. It is the 
first coalition of its kind in Guyana and many people see in it a hope for the future of a country too 
often fractured along communal lines at critical times.  
2.6.  The coalition came to office promising the introduction of a programme for the healing, 
reconciliation and social integration of the nation. More specifically, the APNU-AFC Coalition is 
aiming to put Guyana on a path where all Guyanese, regardless of ethnicity, can feel fully motivated to be proud of Guyana, and of a Guyana where all are afforded the opportunity to make 
a meaningful contribution to the society while successfully caring for themselves and family. They 
propose to do this by establishing and entrench ing an inclusionary democracy by increasing the 
opportunities for the participation of citizens and their organisations in the management and decision-making processes of the State with partic ular emphasis in the areas of decision-making 
that affect their well-being.  
The policy challenges  2.7.  The Economic Recovery Programme (ERP), which was conceived and implemented under 
President Hugh Desmond Hoyte, took effect in 1989 and, as the consequence of negotiated 
international agreements, including the favourable concessionary programme for Highly Indebted Poor Countries (HIPC) such a Guyana, the ec onomy experienced explosive economic growth, 
averaging over 7% per annum during the period 1991-1997. 
2.8.  Since that time, the country has been plunged into a general crisis affecting constitutional, 
political, economic, social and cultural dimensions. Unfortunately, as the consequence of blatant violations of the Constitution; misguided, discriminatory and poorly executed economic 
programmes; dramatic and widening income disparities; the breakdown of the rule of law; 
executive abuse and lawlessness; pervasive and now endemic corruption; the increasing influence of narco-trafficking; the rise and assertiveness of  drug lords and associated criminal gangs; the 
introduction of political death squads; the criminalisation of the State; increasing rates of 
white-collar and violent crime and criminality; armed robberies; a high murder rate have undermined public safety and security, there is grow ing evidence of social dysfunction such as high 
suicide, emigration, school drop-out and high rates of domestic violence, as well as undermining 
the ability to enforce contractual obligations. WT/TPR/M/320 • Guyana 
 
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  2.9.  The foregoing is an indication of the enormity of the task that almost 23 years of previous 
Government has left for the incoming coalition Government. 
2.10.  The programme the Coalition aims to pursue in order to meet these challenges is built on 
15 inter-connected foundations: 
 Foundation 1: National Unity - The practice of One Party Rule and Winner-takes-all is now 
history. 
 Foundation 2: Transforming the Economy 
 Foundation 3: Personal Security: Less Crime 
 Foundation 4: Equal Opportunity 
 Foundation 5: Political Reforms 
 Foundation 6: Our Youth: Our Future 
 Foundation 7: Gender Equality; Our Women, Our Foundation 
 Foundation 8: The Hinterland: The New Frontier 
 Foundation 9: Diaspora Integration 
 Foundation 10: The Poor, the Elderly and the Mentally and Physically Challenged  
 Foundation 11: Social Transformation: Dignity For All 
 Foundation 12: Education Upgrade 
 Foundation 13: Public Service Reform 
 Foundation 14: Macroeconomic Stability 
 Foundation 15: Our Indigenous Peoples 
2.11.  The programme itself addresses: 
 Good governance 
 Employment maximization, ineq uality and poverty reduction  
 Production transformation and economic diversification 
 Social integration, human development and youth 
 Crime reduction, personal, public and territorial security 
2.12.  I shall single out a few areas for brief elaboration. 
2.13.  As you might guess, much of the energy in the policy arena will be focussed on 
constitutional, electoral and parliamentary reform. Through the instrumentality of a Constitutional Reform Commission consisting of representatives of all major stakeholders - the private sector, trades unions, religious and faith-based organiza tions, youths, professional organizations, the 
University etc. - mandated to undertake the ur gent task of fashioning comprehensive agreed 
reforms of the Constitution for early submission to, and passage by, the National Assembly.   
2.14.  Among the Priority Constitution Reforms to  be proposed by the coalition would be 
rebalancing the responsibilities of the Executive to separate the functions of Head of State from 
that of Head of Government, clearly defined mechanisms within which would entrench the fundamental rights of citizens and the rights of the Legislature are to be unmediated by the 
Presidency, the effective Separation of Powers between the Executive, the Legislature and the 
Judiciary are to be assured. 
2.15.  Freedom of Access to Information and Media is another area we are addressing. This 
includes the appointment of an independent Broadcast Authority and the establishment of an 
Integrity Commission with the appointment of persons of the highest integrity. WT/TPR/M/320 • Guyana 
 
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  2.16.  We propose to appoint an in situ  Parliamentary Counsel and a Budget Office, and provide 
sufficient resources to permit the appointment of technically competent and well paid research and analytical support to Parliamentarians and their Committees. 
2.17.  Steps have also been taken to have a long-term National Development Plan and 
consequential Programmes prepared, based on consultation and consensus with key stakeholders, 
with the objective of taking sustainable advantag e of the vast potential of Guyana’s resource 
endowments. Along with this would be the strengthening of the State Planning Mechanism. 
2.18.  The elimination of poverty is a central pillar of the Government policy and the most effective 
way of alleviating poverty is the provision of jobs at a living wage and creating opportunities for self-employment (land reform, credit and financing, market research, provision of equipment, technology and business skills). Full employment wo uld be our objective, achievable by way of a 
strategy with the following elements:  
 stimulating local and foreign investment by way of providing strategic infrastructure, 
targeted tax incentives and radically less burdensome administrative procedures;  
 creating special funds for specific disadvantage d areas, and centres of excellence devoted to 
building needed skills, and for training in relation to small- and medium-sized enterprises (SMEs);  
 accelerating the infrastructure development proc ess by encouraging, for example, the use of 
public-private partnerships; and 
 quick acting, results-oriented job creation programmes. 
2.19.  We aim at achieving and sustaining an average annual growth rate of at least 7%. 
2.20.  The management of dynamically stable ec onomic fundamentals (namely the foreign 
exchange rate, foreign currency reserves, low levels of inflation, low rates of interest, fiscal surplus/deficit and debt management) would allow the expansion of economic and industrial 
activities, and stimulate higher levels of savings and investment (both domestic and foreign).  
2.21.  The Coalition will also study closely options for attracting foreign investment through the 
Diaspora, the Economic Partnership Agreement signed with the European Union, the Gulf 
Cooperation Fund mechanism and from capital surp lus economies such as Brazil, Russia, India and 
China (BRIC) and the Pacific states. 
2.22.  In our efforts so far we acknowledge and appreciate the support of many of our partners 
present here today.  
2.23.  I shall merely mention in passing efforts being undertaken in many other areas such as 
fighting corruption and the implementation of more transparent policies as well as the more efficient and transparent regulatory frameworks  in the economic sector in particular.   
2.24.  While much of what I have outlined so far may relate to the future, I should say that the 
Government committed itself to completing a list of  task within its first hundred days in office. 
Happily, nearly 70% of those tasks have been initiated where they have not already been 
accomplished. 
2.25.  This third Review of Guyana’s Trade Policy has, therefore, occasioned a welcome 
opportunity to communicate some important aspect s of the trade and economic policies of the 
Government - much of which are highlighted in the Government’s report – and treat with the 
related issues that you have raised by the very interesting questions posed to us.  
Tax reform 2.26.  We have addressed the long-standing concerns ra ised with respect to the application of the 
environmental tax and the value-added tax by appr opriate revision of the relevant legislations. 
However, the Government has established a Tax Reform Committee to undertake a detailed assessment of the overall tax system so as to  improve transparency and efficiency in tax WT/TPR/M/320 • Guyana 
 
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  administration and collection, and to widen the tax base, as well as to provide appropriate 
incentives for trade, investment and job creation. The Committee is expected to complete its work by the first quarter of 2016. Simultaneously, the institutional arrangements at the Guyana Revenue Authority will be strengthened to complete the tax reform process.  
Public procurement  
2.27.  The parties which constitute the coalition have made a public and unambiguous commitment 
to ensuring the implementation of a Public Pr ocurement Commission. Indeed, the establishment of 
this body is not only provided for in the Constitution of Guyana but it was one of the issues which 
featured most prominently in the hustings. The failure of the last administration to honour that constitutional provision in spite of Opposition support eventually helped to trigger the premature poll and to bring down the Government itself.  
ICT and telecommunications 
2.28.  The arena of IT and telecommunications management are quite central to the Government 
and its policy reforms. 
2.29.  The Government has commissioned a Digital Nation Programme, which is a comprehensive 
three year master plan to help prepare Guyana for the exciting transformation from a mostly 
commodity-driven economy to a fully-fledged and respected player in the International Digital 
Economy. We have a comprehensive ICT policy whic h will be addressing the following objectives: 
 Infrastructure for accessible, generally affordable, universal, and reliable ICT facilities and 
services. 
 A legal and regulatory framework to create an  enabling environment that recognizes that 
ICTs are now tradable and that the ICT sector (including telecommunications) must be 
organized along competitive lines to ensure growth and development within the sector and for the economy as a whole. 
 Development of the knowledge, skills and aptitu des required for ICT use across all sectors. 
 Industry use of ICT to create an enabling an d conducive environment for investment and the 
development of a vibrant and sustainable economy. 
 Government as an active participant and user of ICT. This will enable us to simplify 
government transactions, improve accountability, make interaction between citizens and the Government easier and quicker, and advance rights like the access to information. 
 Security to significantly improve the effectiven ess of law enforcement by utilizing fixed and 
mobile network infrastructure. 
2.30.  The Government is working to finalize a Telecommunications legislation which provides for 
an open, liberalized and competitive telecommunications sector that will be attractive to new 
market entrants and investors, while preserving the activities of the current sector participants. By 
creating a competitive environment for telecommunicati ons, the legislation is expected to result in 
greater choice, better quality of service and lower prices for consumers. In order to further 
national and regional social and economic developm ent, the Bill will also specifically address the 
expansion of telecommunications networks and services into unserved and underserved areas through the institution of a new universal access services programme. 
2.31.  The legislation, including regulations, wh ich are expected to be promulgated upon 
commencement of the new legislation, will create a clear, harmonized framework and a level 
playing field for the sector, these are features that are currently lacking in the laws and are features similar to those found in other countries in the world, including most Caribbean countries. 
The new legal framework will be characterized by transparency and non-discrimination in the 
issuance and monitoring of licences and authorizations to use the spectrum, seamless interconnection and access between and among telecommunications networks and services, as 
well as price regulation where required to ensure competition and to protect consumers. WT/TPR/M/320 • Guyana 
 
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  Anti-money laundering  
2.32.  The Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act of 
2015 which was passed in Parliament in June was assented to by the President in July 2015. This is a legislation that has been pending since 2011. The regulation along with the Anti-Money 
Laundering Act itself has been sent to the Amer icas Regional Review Group (ARRG) where Guyana 
is now addressing an agreed action plan with the Financial Action Task Force (FATF). I would be remiss if I missed the opportunity to say how proud I am of the role this particular issue played in 
the revival of political awareness and electoral ma turity in Guyana. The Opposition insisted on 
introducing novel arrangements for the oversight and monitoring of the implementation of this 
very powerful regime in the face of external crit icisms as well as internal political mischief.   
Energy policy 
2.33.  Over the next five years, the Government of Gu yana will pursue a more integrated approach 
to providing for the country’s energy needs. This will include all sources of energy (fossil fuels, 
wind, solar, baggasse and hydropower). The Go vernment will commence feasibility studies for a 
large hydropower development with support from development partners. Independent power 
producers and suppliers will be encouraged to co nstruct energy farms and to sell energy to the 
national grid. The Government will also construc t and/or promote the construction of small hydro 
systems in various locations, and will power all new townships using alternative energy sources. 
2.34.  Given the strong potential for the development of an oil and gas sector, the Government has 
sought and is receiving critical advisory and technical support on this matter from various bilateral and multilateral partners with the crafting of suitable systems and procedures (such as Extractive 
Industries Transparency Initiative (EITI) compliance and the establishment of an oil and gas 
policy) that would adapt to ensure transparent accounting for any potential exported oil revenue. Additionally, the Government will establish a Sovereign Wealth Fund to protect the economy from 
the volatile nature of mineral revenues, help to grow and modernize the sustainable non-extractive 
sectors of the economy. This Fund will also help Guyana to avoid the potential negative impacts of 
a sudden surge in national revenue expected from the establishment of an oil and gas industry in 
Guyana.  
Trade facilitation 2.35.  Guyana has advanced its preparations for the implementation of the WTO trade facilitation 
agreement and expects to submit its required noti fication of the Category A provisions soon. The 
implementation of this Agreement will be support ed by a strengthened Guyana Revenue Authority. 
2.36.  Mr Chairman, I trust that this view of the curre nt state of the trade regime and the intended 
path ahead meets your approval. WT/TPR/M/320 • Guyana 
 
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  3  STATEMENT BY THE DISCUSSANT 
3.1.  I would like to welcome the Honourable Carl. B. Greenidge, Guyana's Vice-President, Minister 
of Foreign Affairs and head of the Guyanese delegation, and thank him for his opening remarks. I would also like to welcome the other Members of the Guyanese delegation. 
3.2.  It is a great honour and privilege for me to be  the discussant for Guyana's third Trade Policy 
Review. I appreciate being given the opportunity to share insights on Guyana's economy and discuss its trade policy. In this sense, I would like  to highlight the comprehensive reports prepared 
by the Government of Guyana and the WTO Secret ariat for this meeting. They are a very solid 
basis for the discussions we will hold today and Thursday.  
3.3.  G u y a n a  i s  a n  A m e r i n d i a n  w o r d  t h a t  m e a n s  L a n d  o f  M a n y  W a t e r s .  I t  i s  a  c o u n t r y  w i t h  
magnificent natural resources that include a belt of alluvial soil on the coastline, dense forests that 
cover three quarters of its territory and the highla nds. A wide number of rivers flow from south to 
north and important deposits of manganese, gold and bauxite are found in its territory.  
3.4.  Over the next few minutes I will try to highlight the most important aspects I could identify in 
the reports and share with you some additional comments.  
General overview - economic environment   3.5.  During the period 2009-2014, Guyana's economy showed a steady improvement. Real GDP 
grew at an annual average of 4. 7% between 2009 and 20 14, inflation remained low and exchange 
rates were stable. Exports increased more than 46 % during this period. Foreign Direct Investment 
totalled US$240 million in 2013. Guyana's public finance improved in large part, due to an increase in Government´s revenue and lower capital expenditure.  
3.6.  However, important challenges lie ahead for Guyana's economy. 
3.7.  Guyana's balance of payments current account reached a record deficit (estimated at 15% of 
its GDP), due in part to an increase in petroleum imports and a higher dependence on remittances 
sent by Guyanese citizens living abroad. In th eir written questions, several Members expressed 
interest over this issue and asked if a strate gy has been planned to overturn this pattern. 
3.8.  Public debt also remained above 50% of its GDP in 2014, making it necessary for Guyanese 
authorities to further assess the need for a comprehensive fiscal reform.  
Trade policy and investment regime  3.9.  In general terms, Guyana's trade policy remained unchanged since 2009. Trade policy 
formulation is a responsibility of the Ministry of Foreign Affairs, but a wide number of other 
Ministries and Public agencies also formulate and implement trade related policies. A 
multi-institutional body advises authorities and helps them get prepared and participate in trade negotiations.  
3.10.  Guyana is an original member of the CARICOM, which coordinates its member's external 
trade policies regarding third countries. CARICOM members can negotiate bilateral trade agreements with third countries, but before concluding them, they must notify the CARICOM 
Secretariat. An approval from the Council of Trade and Development (COTED) is necessary if the 
agreement includes tariff concessions. An important number of written questions received for this exercise focused on this topic. Several Members ar e interested in learning more about the practical 
operation of this scheme.    
Trade policies and participation within the WTO  
3.11.  Guyana is an original Member of the WTO and firmly believes in the well-functioning of the 
multilateral trading system as the best vehicle to protect interests and enhance participation of 
small developing economies.  WT/TPR/M/320 • Guyana 
 
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  3.12.  With respect to customs and trade facilitation, implementing the risk management system 
has been very helpful to combat smuggling and ha s significantly improved efficiency. The process 
of ratifying the WTO Agreement on Trade Facilitation is still going on and commitments under Category A have not yet been notified to the Secretariat. However, the National Committee was 
recently established and other important measures to streamline and simplify customs procedures 
have been implemented. It would be interesting to get additional feedback from the Guyanese authorities regarding their intention to notify commitments under Category A and the short-term 
strategy to complete the TFA ratifying process.  
3.13.  Guyana's main legislation concerning SPS measures are the Food and Drug Act, as well as 
the Animal Health Act and the Plant Protection Act, passed in 2011. Guyana's authorities have 
highlighted the need for additional technical assi stance in this area, in order to improve the 
transparency of its SPS regime.  
3.14.  In its report, the Secretariat also indicates that Guyana has pending notifications in customs 
valuation as well as a possible notification regarding its state trading enterprises, within the 
meaning of Article XVII of the GATT 1994. Several Members raised these issues in their questions 
and were interested in learning more about the in ternal assessment to update these notifications.  
3.15.  Regarding the internal tax regime, there were no important changes to the operating 
system in the studied period. In general terms, the VAT is applied equally to domestically 
produced goods and services and imports. However, there are zero-rated Value Added Taxes for some locally produced products but not to thei r imported equivalents. Members raised concern 
about this issue and asked for further clarification.  
3.16.  Guyana's Intellectual Property legal framework remained largely unchanged in the past five 
years. Patent and industrial designs are protecte d for 16 years, since the filing date of complete 
specifications, whereas copyright protection is granted for 50 years. In their written questions, 
Members expressed interest to learn more about Guyana's intellectual property system, as well as 
the status of the copyright bill. 
Sectors  
Agriculture  
3.17.  Fishing and forestry remain a very important component of Guyana's economy. Altogether, 
they account for almost 19% of its GDP. The main agricultural exports are raw sugar and rice.  
3.18.  According to the report by the Secretariat, several tax exemptions are available to farmers, 
both under the Value-Added tax Act and the Customs Act. In their written questions, Members 
showed interest to learn if Guyanese authorities are planning to update their notifications in this area. 
Mining  
3.19.  Mining and quarrying represented more than 18% of GDP in 2013, an increase of almost 4% 
compared to 2009, and concentrates in gold and bauxite extraction. There have been little 
changes in the legal framework in recent years. In 2013, total royalties paid to the Government for 
mineral extraction exceeded US$28 million.  
Energy 3.20.  Electricity production is highly dependent on imported fuel, but there is no commercial 
production of petroleum in Guyana, which has translated into high electricity costs. However, even 
though no electricity is so far generated from hydroelectric power, there is a significant potential that could clearly help alleviate this dependence in the near future. Authorities have identified 
hydro-electric and wind power projects. It would be very interesting to learn more about the status 
of these new plans and the next steps authorities are planning in the near future.  WT/TPR/M/320 • Guyana 
 
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  Manufacturing  
3.21.  Manufacturing (including food processing) accounted for 6.7% of Guyana's GDP in 2013. 
Manufactured goods are Guyana's main import and altogether represented its main import. The main imports are machinery, transport equipm ent, office machines and telecommunications 
equipment.  
SERVICES  3.22.  Services are the largest sector in terms of GDP and accounted for 60.4% of its GDP in 2013.  
3.23.  The telecommunications sector continued growing in the past five years. The tele density 
rate for landlines reached 20%, the mobile pene tration rate reached around 79%. A de jure 
monopoly operates in fixed telephone network, whereas a de facto duopoly exists in mobile telephony. Regarding this sector, it would be interesting to know if authorities are planning any 
measure to further liberalize it and boost competition.  
3.24.  In conclusion, through this brief assessment, we have been able to review the major efforts 
undertaken by Guyana's authorities to strengthen  its trade policy regime and improve the overall 
performance of its economy. The st eady growth of Guyana's GDP in the last five years, as well as 
its efforts to diversify its exports, strengthen trade facilitation measures and SPS legal framework, are very positive signs that will hopefully pave the road for Guyana's economy further growth and 
success.  
3.25.  Thank you again for the opportunity to participate as discussant at Guyana's Trade Policy 
Review. I wish Members and Guyana all the best for a very productive discussion over the next few days. WT/TPR/M/320 • Guyana 
 
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  4  STATEMENTS BY MEMBERS 
COLOMBIA 4.1.  Guyana is an example of a country which despit e the size of its economy has a trade policy 
strategy aimed at enhancing international market access for its exports. 
4.2.  This is evidenced by the efforts made since its previous review in 2009 to liberalize and 
facilitate trade. Some of the country's most salient achievements are highlighted in the Secretariat report: 
 implementation of a system of risk management in customs procedures; 
 elimination of some export duties on non-manufactured goods; 
 conclusion of negotiations of new or revised (and more liberal) bilateral air services 
agreements; and 
 adoption of new sanitary and phytosanitary legislation, under which imports of animals and 
animal products are no longer required to be sourced from prescribed countries. 
4.3.  We would also highlight Guyana's improved rates of economic growth, including per capita 
GDP, and better control of inflation, wh ich has been brought down to low levels. 
4.4.  Despite these favourable developments, a number of issues are cause for concern over and 
above the challenges facing Guyana. 
4.5.  The first issue is the country's heavy reliance on exports of some primary commodities, which 
renders it vulnerable to external shocks and any trade policy changes made by other trading partners, as would be the case of tariff preferences. 
4.6.  As stated in the Government report, given the erosion of traditional preferences for 
agricultural exports, the Government intends to de velop the services sector and increase services 
exports. It plans to achieve that objective inter alia by attracting foreign direct investment. 
4.7.  In this connection and without underestimating the Government's efforts to enhance the 
business environment by seeking to attract larger investment inflows, it would be highly important 
for Guyana to reverse the weak performance recorded in the global competitiveness and ease of doing business indices. 
4.8.  Another source of concern is the country's export focus on just a few markets. We therefore 
encourage Guyana, as stated in the Government report, to diversify its export destinations, using tools such as trade agreements and/or effective access to non-traditional markets. 
4.9.  Although this state of affairs poses challenges, we are convinced that Guyana will successfully 
implement its economic and trade development strategies. This will undoubtedly enable it to 
consolidate its vision of an economy that is both open and in favour of a transparent, rules based multilateral trading system. 
4.10.  To conclude, we wish the delegation of Guyana every success in this trade policy review. 
UNITED
 STATES 
4.11.  As Guyana's number one trading partner, the United States' commercial relationship with 
that country remains vibrant and growing. Our total two-way goods trade during 2014 increased 
by 11% from 2013. In addition, total goods trade is up nearly 8% in the first six months of 2015 (compared to the same period in 2014). We are hopeful that our trade relationship will continue to expand. WT/TPR/M/320 • Guyana 
 
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  4.12.  I would note that Guyana is one of 17 countries to benefit from the Caribbean Basin 
Economic Recovery Act and one of only eight to  enjoy the expanded access under the Caribbean 
Trade Partnership Act, which together with Most Favoured Nation status and the General System of Preferences provide Guyana with duty-free acce ss to the U.S. market for 99.6% of its goods. 
4.13.  Guyana has taken a number of measures to further integrate with the global economy. We 
welcome the Secretariat's observation that Guyana is in the process of accepting the Trade Facilitation Agreement and has created a National Trade Facilitation Committee. Also, Guyana's 
own Government report emphasizes a number of vital public sector reforms, including reforms 
related to Information and Communication Technologies infrastructure development and telecom liberalization. Earlier this year, Guyana also conducted a public discussion of a change to the tariff regime for vehicles, with the stated aim to encourage the importation of new cars as opposed to 
older, less environmentally friendly used cars. 
4.14.  With regard to intellectual property rights, a key issue for Guyana's economic development, 
Guyana has indicated that its new Copyright Bill is in an advanced stage of preparation as part of a 
comprehensive review of overall Intellectual Property legislation, aimed at updating and 
modernizing the legislation as a whole. The Secr etariat report adds that under the Economic 
Partnership Agreement between the EU and CARIFO RUM, Guyana is committed to acceding to 
other treaties administered under the World Intellectual Property Organization, as well as to 
adequately implementing the obligation of intellec tual property agreements it has already signed, 
including the Organization's foundational Trade Related Aspects of Intellectual Property Rights Agreement. 
4.15.  While Guyana has reason to be pleased with its efforts in these and other areas, the United 
States would like to highlight areas that we believe need greater attention. Although Guyana had taken measures to improve the country's business environment leading up to the last review in 
2009, challenges have in some ways increased. In 2015, Guyana dropped to 123
rd out of 
189 economies analysed in the World Bank's ease of doing business index. Further reforms, and consistent implementation, are needed to promote investment, which the Government continues 
to view as critical to the country's economic development. 
4.16.  We had hoped that the Government would have made even greater strides in implementing 
its WTO commitments since the 2009 TPR. The Secretariat's report states that Guyana's implementation of its taxation system continues to include applying zero-rated VATs to some 
locally produced products but not to their imported equivalents. This works against a basic tenet of 
WTO Membership regarding national treatment. 
4.17.  The United States also observes a need for more continued progress by Guyana on 
improving transparency in a way calculated to benefit both Guyana and its trading partners. For 
example, Guyana has not submitted any notifications regarding state trading enterprises within the meaning of Article XVII of the GATT 1994, despite having a notification obligation to do so 
since 1995. Nor has Guyana provided notification of its export subsidy programmes. 
4.18.  But, as stated previously, we remain encouraged by the strides that have been made. The 
United States will continue to work with Guyana and the other CARICOM members to strengthen and deepen our relationship. We have submitte d questions and look forward to discussing and 
reviewing Guyana's responses. 
CANADA 4.19.  I extend best wishes to Carl Greenidge, Vice President and Minister of Foreign Affairs and 
the entire Government of Guyana as they embark upon their mandate following success in the 
Guyanese national elections in May of this year. Canada looks forward to a constructive and forward-looking dialogue with the new Guyanese Go vernment as we build on an already successful 
bilateral relationship. These relations are based in large part on a strong Canadian-Guyanese 
community of over 75,000 people and, movi ng forward, to growing commercial ties. 
4.20.  To date, and to be frank, our trade relations are less than they should be. Guyana is 
Canada's 71
st overall global merchandise trade partner, and trade in services is negligible. In 
2014, bilateral merchandise trade was valued at $362 million with the trade balance, in fact, 93% WT/TPR/M/320 • Guyana 
 
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  of total trade, very heavily in fa vour of Guyana. This is due to Guyanese exports of precious stones 
and metals to Canada, which account for approximately 97% of all Guyanese exports to our country. 
4.21.  Canadian investments and assets, however, have increased in recent years, spurred by the 
growing role of Canadian companies in Guyana's ex tractive sectors, in both mining and oil and gas 
exploration. This should provide a collateral boost to bilateral trade in both goods and services. Statistics Canada does not publish data on Canadian direct investment in Guyana, but our federal 
department of Natural Resources Canada estimates that the value of Canadian mining assets in 
Guyana amounted to $332 million in 2013, an increase over the previous year's estimate of $268 million. I am told, however, that Guyanese estimates of the value of the stock of Canadian investment are considerably higher, and that most international mining operations in Guyana are 
conducted by Canadian firms. Perhaps the most we ll-known undertaking is the Aurora Gold Project 
by Toronto-based Guyana Goldfields, which came on stream with the "first pour" of gold production in July of this year. 
4.22.  Canada's development assistance efforts in Guyana are provided through our 12-year, 
$600 million "Caribbean Regional Development Prog ram", which is delivered in partnership with 
the Guyanese Government, other CARICOM States, non-governmental organizations, multilateral 
institutions, such as the Caribbean Development Bank and the CARICOM Secretariat, as well as 
with partners from the Canadian private sector. To date, over $500 million has been either committed or disbursed. For example, through th e CARICOM, Education for Employment project, 
industry has partnered with a community college in Linden, Guyana, to offer hands-on heavy 
machinery training in support of the mining sector. 
4.23.  In the same spirit, Canada is encouraged by the Guyanese Government's ongoing pursuit of 
liberalized, open market policies. We applaud, for example, the recently-elected Guyanese 
coalition government's statement for this Trade Policy Review of its "new vision and economic 
development programme". In particular, we are pleased that the new Government has introduced measures that would promote our two-way trade, and foster Guyana's increased integration into 
regional and global markets and value chains. I note from the Secretariat's report that Guyana still 
has 31 outstanding notifications to the WTO, an d therefore hope that the new Government will 
eventually "clean the state", as it moves forward on its ambitious programme in favour of transparent, fair and sustainable trade liberalization, integration and diversification. 
4.24.  In this vein, we also support Guyana's commitment, as mentioned in its statement, to 
reform domestic tax laws, to ensure non-discriminatory treatment of foreign investors and to establish a constitutionally mandated public procurement commission to oversee procurement 
practices and ensure transparency and fair treatment in the award of public tenders. 
4.25.  As a nation of the Americas, Canada is concerned about increasing insecurity in the 
hemisphere, and particularly in the Caribbean region. As we all know, the combination of personal 
insecurity and inadequate trust in the ability of state institutions to combat both local corruption 
and organized transnational crime stifles economic growth and development, and undermines the confidence of actual and potential foreign investors. 
4.26.  It is therefore of particular significance to us that Guyana has updated legislation aimed at 
strengthening Guyana's performance in the areas of Anti-Money Laundering and of Countering the 
Financing of Terrorism. We note that in the World Bank's "Doing Business 2015" study that Guyana ranked 123; falling two places since its ranking in 2014. Guyana's Trading Across Borders 
index is at 82, which shows cause for optimism although the time required to prepare and the 
number of required documents for both exports and imports might benefit from greater attention by the authorities. 
4.27.  In closing, Canada acknowledges the advances that Guyana has made in recent years to 
develop the basis for a stronger economy by achi eving a manageable public debt load of 56% 
(assisted by debt cancellations under the joint IM F-World Bank "Heavily Indebted Poor Countries" 
mechanism) and the increase over the last five ye ars in real GDP of 4.6%, and per capita GDP by 
7%. We encourage Guyana to continue this positive trend through targeted public investments in 
infrastructure, housing, mining and manufacturing, and through sustained action to ensure transparency, good governance, the rule of law and to remove any other factors that might WT/TPR/M/320 • Guyana 
 
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  constrain the healthy and sustainable pursuit of trade and investment ties with Canada and with 
other WTO Members. 
JAPAN 4.28.  At the outset, Japan would like to express its sincere appreciation for the reports made by 
the Government of Guyana and the Secretariat.  Each of these reports clearly depicts the 
challenges that Guyana has faced up to now and the efforts that have been made to overcome them. Japan highly commends Guyana's continuous  efforts to achieve greater economic growth 
through smooth integration into the global trading system. 
4.29.  Overall, Guyana has shown robust economic growth since the last review. According to the 
report by the Secretariat, Guyana's real GDP growth of 3.3% in 2009 has risen to reach 5.6% by 2014. Moreover, Guyana has been successful in maintaining mild inflation mainly as a result of 
moderate food prices. We hope that Guyana will  continue to build a robust economy this way. 
4.30.  Japan agrees with the Secretariat's report that continuous efforts for structural reforms, 
prudent macroeconomic policies and increased governance are required to realize sustainable 
economic growth. Above all, from its experience, Japan believes that timely economic structural 
reforms are essential for robust and sustainable economic growth. 
4.31.  Japan positively evaluates the fact that Guyana has been implementing its "National 
Development Strategy" and its action plan, "Enha ncing National Competitiveness" to promote 
economic structural reforms. Japan also co mmends for implementing policies related to 
infrastructure improvement and development, such as reforms of electric power industries and ICT 
development. The provision of low cost electricit y and greater use of ICT will enhance productivity 
and increase overall efficiency. Japan expects Guyana to achieve each of these objectives. 
4.32.  Now, please allow me to make some brief comments on the RTAs, the Secretariat 
mentioned that Guyana maintains a bilateral free trade agreement with Brazil. Moreover, Guyana, 
as a member of CARICOM, maintains preferential trade agreements with six trading partners 
including the European Union. Negotiations between CARICOM and Canada are currently under way. Japan commends these efforts for further trade liberalization, and hopes that Guyana's RTAs 
will contribute to complement and strengthen the multilateral trading system. 
4.33.  Finally with the common objectives of maintaining and strengthening the multilateral trading 
system, Japan expects to work closely with Guyana and other WTO Members. 
EUROPEAN
 UNION 
4.34.  Since its last review, and after the WTO Secretariat visited Guyana to finalize its report, the 
May 2015 elections led to a change of Government in Guyana. Hence, this review takes place at a very timely moment to help the new Government to set up its trade and economic policy 
objectives. 
4.35.  The WTO Secretariat reported that Guyana's economic performance improved since the last 
review and that the GDP's growth has been robust . The ratio of the debt to the GDP has decreased 
and inflation has been reduced. The real GDP is expected to have expanded by 5.6% in 2014. 
However, despite these positive facts, the prospects may be less optimistic than initially thought for 2015, given the reduction of the world prices of the main commodities exported by Guyana. 
Guyana has a rather narrow basis of exports sinc e raw sugar, rice, shrimps, bauxite, timber and 
gold represented 77% of its exports last year. The diversification efforts carried out in line with the 
recommendations of the last TPR and with the assist ance of the EU notably, but not solely, in the 
sugar sector, have not born all their fruit yet.  
4.36.  The EU welcomes the recent adoption of the anti-money laundering legislation by the new 
Government.  
4.37.  The previous Government adopted measures to attract foreign direct investments but in the 
EU's views, there is room for further reforms in certain key sectors of the economy, such as the 
telecoms. The EU would be pleased to hear the de legation's views on the priorities of the new WT/TPR/M/320 • Guyana 
 
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  government, in particular on competition and public procurement legislation as well as on 
intellectual property. 
4.38.  The last Trade Policy Review concluded in en couraging Guyana to improve its customs and 
SPS measures. The EU commends Guyana for having  adopted risk management procedures that 
facilitate border transactions. However, problems continue to be reported and seem to be due to 
the customs administration's insufficient capacities. In this perspective, the EU welcomes the setting up of a national committee to coordinate the implementation of the Trade Facilitation 
Agreement and looks forward to the notification of  category A commitments and to the start of the 
internal process necessary to ratify the agreement without delay.  
4.39.  EU and Guyana's trade relationships take place in the framework of the well-established 
Economic Partnership of the EU with the Cariforum in which Guyana currently holds the High 
Representative function until the end of this ye ar. The bilateral trade has been growing since 2010 
despite the Petrocaribe deal, which resulted in a sh arp decrease of Guyana's exports of rice to the 
EU. The EU is the third market for Guyana's exports and the fourth source of supply to Guyana. 
The EU is the single largest donor of aid to Guyana and has consistently complemented Guyana's 
development agenda and supported the implementati on of the EPA. As SPS was an area where the 
last TPR recommended further improvements and given that the country has started taking 
measures in this field, the EU would like to recall that Guyana is eligible to aid for trade under the 
10th and 11th European Development Funds via th e Caribbean Regional Indicative Programme.  
4.40.  The EU would like to highlight the following issues from our advanced written questions:  
 The EU invites Guyana to make efforts to comply with its notification obligations in this 
Organization. 
 The EU would be interested to know what measures are contemplated by the Government to 
promote inward Foreign Direct Investment and liberalize certain sectors of the economy 
such as the telecoms. 
 The EU is keen to get more information on the Government's plans regarding the 
management of state-owned entities and their behaviour on those markets (but not 
exclusively those) in which private actors also operate. 
4.41.  In closing, the EU commends Guyana for choosing the alternative timeframes for its review 
as few Members dare to follow this innovative approach. The EU wishes all the best to Guyana for its Trade Policy Review. 
BRAZIL 
4.42.  I t  i s  a  p l e a s u r e  f o r  B r a z i l  t o  t a k e  p a r t  i n  t h e  t h i r d  T r a d e  P o l i c y  R e v i e w  o f  G u y a n a ,  a  
South-American partner with which Brazil shares close cultural and economic ties. Let me 
commend Guyana for its economic performance duri ng the period under review, with a strong GDP 
growth, controlled inflation and decreasing public debt. 
4.43.  The Government report indicates that integration with South American neighbours 
constitutes a priority for Guyana. In this regard, Brazil definitely wants to contribute to Guyana's 
physical integration to the region, taking into account that infrastructure plays a key role in trade and economic integration. A symbolic landmark was the inauguration on the bridge over Tacutu River in 2009, which has contributed to strengthen the ties between our two countries. 
4.44.  Brazil and Guyana are partners in a number of treaties, such as the Amazon Cooperation 
Treaty (TCA), and projects in the region. The Joint Commission for Infrastructure Development, 
created in 2013, is currently evaluating the possibi lity of constructing a hydroelectric plant over 
Mazaruni River, paving the road between Lethen-Lid en and evaluating the possibility of building a 
modern Port in Guyana. 
4.45.  The Government of Guyana has identified Information and Communication Technologies as 
another top priority for its development. This is another potential area for cooperation. Brazil has WT/TPR/M/320 • Guyana 
 
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  considerable experience in expanding fixed and mobile network infrastructure, which could 
definitely contribute to Guyana's  objectives in the near future. 
4.46.  Since its last Trade Policy Review in 2009, Guyana bilateral trade with Brazil has increased 
substantially, but there is still ample room for improvement. The average value of bilateral trade 
has almost doubled in the period under consideration. Even so, in 2014, exports from Guyana to 
Brazil accounted for less than 0.3% of its total exports. In that same year, Guyana's imports from Brazil represented only 1.3% of its total imports. Infrastructure bottlenecks may have been the 
cause for this situation in the past, in which our two neighbouring countries were not able to 
benefit from trade flows commensurate to our potential. We are committed to improve this situation. 
4.47.  Despite this considerable increase in value, the diversity of goods remains relatively small: 
B r a z i l ' s  m a i n  e x p o r t  t o  G u y a n a  c o n t i n u e s  t o  b e  m a c h i n e r y ,  f o l l o w e d  b y  a u t o m o b i l e s  a n d  
earthenware, which together amounts to almo st 50% of the value of our exports in 2014. 
Guyana's main exports to Brazil are cereals, be verages, iron and steel and organic chemicals, 
which together amount to 75% of the value of its exports to Brazil in the same year. 
4.48.  Brazil shares Guyana's view on the importance of a successful conclusion of the DDA. We 
are of the view that the Doha Round should preserve policy space in developing countries and, at 
the same time, open more markets, particularly agricultural markets. 
CHINA 4.49.  We are very pleased to note that Guyana's  economic performance has improved, with 
robust GDP growth and real GDP expected to have expanded by 5.6% in 2014. Guyana's per 
capita GDP is estimated at close to US$4,000 in 2014, up from around US$2,360 in 2009. We 
appreciate the continued efforts Guyana has made to liberalize and facilitate trade in the past six years.  
4.50.  Yet, we have to acknowledge that Guyana's economy largely depends on the exports of 
some primary commodities, which could easily be affected by fluctuations of the global commodity prices. We commend the efforts made by Guyana in carrying out the structural reform, especially 
in the electricity sector and its SOE regime, which would make its economy to grow in a more 
sustainable manner and further integrating into the regional and global economy.  
4.51.  China and Guyana have been enjoying sound bilateral relationship in the past four decades, 
as Guyana was the first English-speaking Caribbean country to establish diplomatic relationship 
with China. Through our joint efforts, the Si no-Guyana economic cooperation has witnessed 
remarkable growth in recent years, with our bi lateral trade growing by 14.5% in 2014, reaching 
US$2,100 million. During the period under review, China’s share in Guyana’s total external trade 
increased by about 50%. By the end of 2014, Chinese total investment in Guyana reached 
US$1,400 million, making positive contribution to  Guyana’s economic growth and employment. 
Furthermore, our bilateral cooperation also benefits from Guyana’s active participation in regional 
platforms such as China-Caribbean Forum on Trade and Economic Cooperation.  
4.52.  As an original Member of the WTO, Guyana attaches great importance to the multilateral 
trading system. China appreciates the efforts Guyana has made in advocating the development needs in the WTO activities and negotiations. At this critical juncture of the Doha Round, China is 
expecting to join effort with Guyana and other Members to achieve a development-oriented and 
balanced successful conclusion of the DDA.   
REPUBLIC
 OF KOREA 
4.53.  We are pleased to note that Korea and Guyana have established close economic ties. The 
bilateral trade volume reached US$24 million in 2014. Korea hopes that its economic partnership with Guyana will continue to grow and develop in the future. 
4.54.  T u r n i n g  t o  G u y a n a ' s  o v e r a l l  e c o n o m y ,  w e  w i s h  t o  n o t e  t h a t  G u y a n e s e  e c o n o m i c  
performance has improved during the review peri od due to the increase of inward FDI and the 
expansion of private sector credit. Since its second TPR in 2009, the Guyanese economy has WT/TPR/M/320 • Guyana 
 
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  continued to grow with an average 4.6% growth rate. In 2014, real GDP is expected to have 
expanded by 5.6% and per capita GDP is estimated at close to US$4,000, up from US$2,360 in 2009. Given the global economic difficulties, these achievements are indeed impressive. Reflecting its confidence in the domestic economy, Guyana maintains an open trade and investment 
environment with low tariffs and few non-tariff barriers as well as streamlined customs clearance 
systems. 
4.55.  Despite these positive achievements, there is room for Guyana to enhance its 
competitiveness. Specifically, we would put forward that Guyana should continue to further 
diversify its economy and reduce its high dependency on exports of some primary commodities such as sugar, rice and gold, which makes it vulnerable to the fluctuation of international food and raw material prices. While we appreciate Guyana's efforts towards its structural reforms through 
some policies including the Agriculture Export Diversification Program followed by the National 
Agriculture Development Strategy, a further push fo r its economic diversification seems very much 
needed in order to achieve sustainable growth. 
4.56.  In addition, with respect to the trade policies of Guyana, we also note that there is a 
significant gap between the overall bound tariff ra tes and applied MFN tariff rates. It would be 
advisable to reduce the gap to enhance the predictability of trade. 
4.57.  It is our hope that Guyana will continue to actively participate in not only strengthening the 
WTO multilateral trading system as a whole, but also advancing the DDA negotiations. We also hope that Guyana will submit its Category A commitments and acceptance of the instrument preferably by the MC-10. 
4.58.  With this, we would like to conclude by expressing our sincere appreciation to the Guyanese 
delegation for its hard work and wish Guyana every success in its TPR. 
TRINIDAD
 AND  TOBAGO 
4.59.  Notwithstanding the diversity of its membership, the Caribbean Community (CARICOM) 
stands as a beacon of unity and determination in the international arena. Moreover, in spite of our 
several vulnerabilities, one of which was brought to the fore last month (August), with the passage 
of Tropical Storm Erika which devastated the economy and society of Dominica, the Small Island 
Developing States that make up our Comm unity are all symbols of courage and hope. 
4.60.  It is against that backdrop that the Delegation of Trinidad and Tobago always looks forward 
to participating in the Trade Policy Reviews of its fellow CARICOM member States. For it is on 
occasions such as these that the fortitude of the member States is highlighted. 
4.61.  Our CARICOM sister Guyana is no exception. 
4.62.  During the period under review, Guyana weathered the unfavourable conditions existing in 
the global economic system and its own domestic challenges, to record a significant improvement 
in its economic performance. Noteworthy is the fact that its GDP per capita, which stood at US$2,360 in 2009, virtually doubled to prevailing, an estimated US$4,000 by 2014. Given the 
extraordinary economic environment at the time, this was indeed a commendable achievement, 
and Trinidad and Tobago encourages the Governme nt of Guyana to continue the prudent policies 
and reforms that contributed in no small way to this strong performance, while using them as a stepping stone to further improvement and progress.  
4.63.  Trinidad and Tobago also commends Guyana’s efforts to diversify its economy, improve its 
business climate, boost job creation and improve labour productivity.   
4.64.  Continued effective management of the country’s debt profile would also significantly bolster 
the country’s ability to attract increasing levels of foreign direct investment. This was very much a 
key aspect of the strategic thinking that led Trinidad and Tobago, in an earlier period, to write off a significant proportion of the debt owed to it by Guyana. We understood then, as recent 
developments in other parts of the world have show n, that an excessive debt burden constitutes a 
stranglehold on growth, and over time, risks soci etal instability. All these measures therefore, WT/TPR/M/320 • Guyana 
 
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  taken together, should boost competitiveness and ther efore act as a fillip to even higher levels of 
growth and employment.  
4.65.  In particular, my delegation has taken note of the nine initiatives outlined in the 
Introduction of the Government report. These are all essential ingredients for expanding Guyana’s 
trade profile and attracting the foreign direct inve stment that would lead to inclusive growth and 
sustainable development. We therefore hope that th ere will be no withdrawal from or dilution of 
the commitment to transform them from policy conception to policy action. 
4.66.  Trinidad and Tobago enjoys a long and strong, multi-dimensional commercial relationship 
with Guyana within the framework of the CARICO M Single Market, and we are keen to explore 
ways to further deepen these links by seeking and indeed seizing profit opportunities that benefit both sides. In this regard, a number of initiatives for collaboration are currently being explored, 
particularly in the targeted sectors of agricult ural production, skills development, and energy 
cooperation. In March 2013, a Memorandum of Understanding was signed for a period of two years to promote greater cooperation in energy and energy related matters. Additionally, in 
July 2013, the Trinidad and Tobago Chamber of Industry and Commerce hosted a Business Forum 
titled "Trinidad and Tobago–Guyana Connections" aimed at introducing potential Trinidad and Tobago investors to opportunities in Guyana. We look forward to building on these initiatives.  
4.67.  In conclusion, it would be remiss of me if I did not embrace this opportunity to pay tribute 
to Guyana’s historic commitment to the regional integration agenda. Some might attribute this to the fact that it is home to the CARICOM Secretariat.  My delegation prefers to attribute it to a true 
understanding of the economic and practical ad vantages and indeed, symbolism of the word 
"Community". Trinidad and Tobago  looks forward to working collaboratively with Guyana and with 
all its other partners in the Caribbean Communi ty, to achieve the region's better and higher 
integration into global supply networks. 
4.68.  We wish our fellow CARICOM sister Guyana, a successful Trade Policy Review. 
THAILAND 4.69.  In 2014, the trade value between Thailand an d Guyana was US$8.46 million. With exports 
and imports valued at US$6.18 million and US$2.28 million, respectively.  
4.70.  Although the bilateral trade between Thailand and Guyana is still relatively small, there is 
trade potential that can be explored. For exports, such potential may exist in automotives, processed food, medical instruments, and plasti cs. While iron and steel, and aluminium can be 
considered high-potential imports.   
4.71.  Thailand would like to congratulate Guyana on its vibrant expected economic growth of 
5.6% in 2014. We would also like to commend Guyana for its efforts to further liberalize and 
facilitate trade and investment, which includes the elimination of some export duties on 
non-manufactured goods, the lowering of the co rporation tax rate, and the adoption of more 
trade-facilitating new SPS laws.  
4.72.  In this review, Thailand submitted several questions to Guyana, covering, among others, 
the Skeldon Sugar Modernization Programme, competition policy and its implementation, trademark registration, and investment incentives in the fisheries sector. 
4.73.  We Thank Guyana for its initial responses to our questions and will study them in detail with 
great interest. We also look forward in anticipation to the remaining responses in due course.  
4.74.  In conclusion, Thailand would like to express our appreciation to the delegation of Guyana 
for today’s presentation. We are thankful for the cooperation with Guyana in both Geneva-based 
and Capital-based levels. We wish the Guyana every success in this Trade Policy Review. 
INDIA 4.75.  We are happy to note that since its last review in 2009 and notwithstanding the financial 
crisis of 2008, Guyana has registered positive economic performance with robust GDP growth WT/TPR/M/320 • Guyana 
 
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  rates. As part of its National Development and Trade Strategy, Guyana continues to take measures 
to facilitate trade and promote inward foreign direct investment. On trade policy front, Guyana maintains an open and transparent trading en vironment. It has recently adopted new SPS 
legislation and has taken steps to further streamline custom procedures and implement trade 
facilitation measures. According to the World Bank’s Doing Business Report, trading across borders 
in Guyana has the lowest cost in the Latin America and the Caribbean region, which is commendable.  
4.76.  The economy of Guyana largely depends on exports of some primary commodities such as 
sugar, gold, bauxite, timber and rice, which acco unt for about 77% of its total exports. Lack of 
diversification in its export basket and export ma rkets, which are affected by fluctuating global 
commodity prices, remain a challenging area for the Guyanese economy. As noted in the 
Secretariat report, the negative trade balance has generated a persistent current account deficit, 
reaching a level of about 15% of GDP. We note that the Government  is mindful of these challenges 
and as part of new Government’s vision for economic development and reforms, it has initiated a 
number of programmes to enhance competitiveness, economic diversification, and attracting 
investments. We are confident that ongoing reform  process and Government’s effort to diversify 
its trade basket as well as seeking new markets for its exports would enable it to maintain 
sustained economic growth and in prudent ma nagement of its macro-economic policies.  
4.77.  My delegation applauds the commitment of Guya na to the multilateral trading system and a 
successful conclusion of the DDA negotiations. We welcome the participation of Guyanese delegation in the ongoing negotiations and the role played by it, particularly in articulating the 
interest of small economies in the ongoing work in the WTO.   
4.78.  At the bilateral level, India enjoys historic and close linkages with the Caribbean region and 
in particular with Guyana. Our relations with Guyana are animated by our longstanding people to 
people connections, which provide a crucial link between our two countries. We enjoy a close trade 
and development partnership with Guyana. Our bilateral trade has been expanding in recent years and it increased from US$25 million in 2011-12 to about US$35 million last year. A number of 
Indian companies have invested in Guyana in diverse fields such as agriculture, education, health, 
and information technology. India has been a close development partner of Guyana and has undertaken capacity building, infrastructure development and technical assistance programmes. We look forward to expanding our trade and investme nt linkages with Guyana in the coming years. 
4.79.  With these words, we wish the Guyanese delegation a productive and successful TPR. 
COSTA
 RICA 
4.80.  Costa Rica finds it very interesting to participate in this trade policy review because Guyana 
is one of its important trading partners within the Caribbean Community. The signing of the free 
trade agreement between Costa Rica and CARICOM and the ensuing entry into force of the agreement with Guyana in April 2006 has helped  strengthen trade relations between the two 
countries. The figures are encouraging: between 20 06 and 2014, bilateral trade increased by over 
160%, making Guyana the third largest destination of Costa Rica's exports to CARICOM. 
4.81.  This points to significant potential for expanding bilateral trade opportunities and, 
incidentally, to opportunities for exchanging experiences with a country, which, like Costa Rica, is 
rich in biodiversity and responsive to sustainable development. 
4.82.  Both the Secretariat report and the policy presentation made by the Guyanese Government 
underscore the positive performance of Guyana's ec onomy in recent years. Nonetheless, we note 
the country's vulnerability on account of its reliance on exports of primary commodities, which are 
typically affected by changing weather patterns and may be subject to highly volatile international prices. 
4.83.  It is also important to highlight the potential risks posed by increased concentration of 
Guyana's exports in a few markets between 2009 and 2014. In this regard, we hope to learn more about the country's strategy to open up new markets, including the ongoing negotiation of a free trade agreement between CARICOM and Canada. WT/TPR/M/320 • Guyana 
 
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  4.84.  We acknowledge the Guyanese Government's efforts to resolve the aforementioned 
structural problems, which detract from the comp etitiveness and stability of its economy, by 
implementing measures aimed at further liberalizing and facilitating trade, diversifying the country's economic structure, increasing private sector participation, and successfully attracting 
foreign direct investment. We believe, as Guyana it self does, that a vigorous investment policy can 
be an engine of growth and development for economies such as ours. 
GUATEMALA 
4.85.  Guatemala and Guyana have enjoyed friendly relations over the years. Our bilateral agenda 
has expanded in recent years with the opportunity to hold the first meeting of the Political Consultation Mechanism (pursuant to an agreement between the foreign ministries of both countries), discussions regarding a possible agreemen t on visa exemption for holders of diplomatic 
and official passports, and cooperation related matters, particularly with regard to the production, 
management and promotion of crafts. 
4.86.  Although trade flows between our two countries have, so far, been relatively low and mainly 
involved goods produced by the manufacturing and mining industries, there is considerable 
potential for growth. One exampl e is the marked rise in Guatemalan exports of food and 
beverages to the Caribbean market in the first ha lf of 2015, which, according to information from 
the Guatemalan Exporters' Association (AGEXPORT), totalled more than US$20 million, i.e. a 
182% increase over the first six months of 2014. 
4.87.  As regards this review, we note Guyana's sustained economic growth, averaging 4.7% per 
year over the period 2009 2014, the considerable efforts made to strengthen the country's 
sanitary and phytosanitary system, the new measures implemented in order to facilitate trade, and 
the risk profile based inspection system, whos e implementation, according to the Secretariat 
report, has significantly speeded up and increased the efficiency of customs procedures. We also 
note that Guyana's challenges for the future will include implementing a strategy to absorb the 
deficit on the current account of the balance of payments over the long term and to accelerate plans to further diversify the energy market in order to reduce costs. 
4.88.  Guatemala acknowledges the efforts made by Guyana during the period under review and 
wishes the Guyanese delegation a successful conclusion to this trade policy review. 
BARBADOS 4.89.  M y  d e l e g a t i o n  w i s h e s  t o  c o m m e n d  t h e  G o v e r n m e n t  o f  G u y a n a  f o r  i t s  s t e a d y  e c o n o m i c  
performance since its last Trade Policy Review in 2009. GDP growth has been vigorous, recording 
an annual average of 4.8% over the 2009-2014 over the review period. It is estimated that in 
2014 alone, GDP expanded by 5.6%. The country's GDP per capita has almost doubled since its 
last review reaching close to US$4,000 in 2014. The country's achievements have been in part 
supported by foreign direct investment and the expansion of private sector credit. 
4.90.  Despite these notable achievements, this small open economy continues to be significantly 
dependent on a limited number of primary commodity  exports, vulnerable to economic shocks and 
to the volatility of commodity prices. Of particular note therefore is the stark realization that in 2014, six primary products, namely rice, sugar, gold, bauxite, shrimp and timber, accounted for 77% of the country's total export. 
4.91.  We recognize the country's efforts to diversify its economic structure away from the 
dependence on traditional sectors and to ensure gr eater private sector participation. We therefore 
commend Guyana on its implementation of its National Development Strategy and its Action Plan, 
aimed at increasing the country's export potential and sustain economic growth. Key among the 
efforts undertaken in relation to the same are the country's initiatives to boost business facilitation towards attracting greater levels of foreign direct investment. Included in the programmes 
undertaken were the lowering corporation tax rate s, restructuring property registration fees, 
drafting amendments to the Companies Act, and establishing a credit report system. 
4.92.  We believe that it is crucial that small economies like Guyana to be allowed the necessary 
policy space required to formulate and implement trade policies and national development policies WT/TPR/M/320 • Guyana 
 
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  in accordance with their development needs. Su ch measures will enable these economies to 
continue to successfully pursue their trade liberalization, economic reform and development objectives. 
4.93.  As a sister Caribbean Community (CARICOM) me mber and partner, Barbados maintains an 
excellent trade and political relation with Guyana. Together with the other CARICOM members, we 
have committed to substantial economic and political integration, cohesion and interconnectivity through the CARICOM Single Market and Economy. Trade policy forms an integral part of our 
relationship within CARICOM. The region's efforts at regional integration seek among other things 
to expand the export potential of the small economies in CARICOM. This has been outlined as one of the key objectives in the Guyana's core economic thrusts and is elaborated in their National Development Strategy. 
4.94.  We commend Guyana on updating its legislation aimed at bringing the country closer in line 
with its WTO obligations. We, however, wish to highlight the significant deficiencies of human and financial resources and capacity can serve as severe challenges to a country's ability to fully 
implement its commitments. In this regard, we fully support Guyana's call for the provision of 
technical assistance to assist with updating its notifications to the WTO and to improve on its national procurement and competition policies systems. 
4.95.  Barbados, like Guyana, is looking forward to a successful conclusion of the Doha 
Development round. We also share a similar belief that success must include substantial development gains, including meaningful flexibili ties and special and differential treatment for 
developing countries, in particular for SVEs and LDCs, if small economies like Guyana are to be 
fuller integrated into the multilateral tradin g system and thereby successfully advance their 
economic diversification and export growth objectives. 
DOMINICA
 ON BEHALF  OF THE OECS 
4.96.  As others before me have noted and as indicated in the Secretariat's report, the economy of 
Guyana, driven by foreign direct investment and private sector credit has been improving in a robust manner over the last several years as seen in the 5.6% rate of growth in 2014 and a near 
doubling of its per capita GDP since 2009. We commend the Government for these achievements. 
4.97.  The Government of Guyana has undertaken a number of reform efforts including in the area 
of its trade and investment regimes, government  procurement, customs and trade administration, 
ICT and telecoms and trade and labour. We also note and commend Guyana for the actions it has 
undertaken as outlined in its report on implementing the Economic Partnership Agreement, the 
WTO Trade Facilitation Agreement, the development of its economic infrastructure, and the diversification of its economy. 
4.98.  Guyana and the member States of the OECS share a long and cordial relationship within the 
context of our shared geographical location and histories and our membership in the Caribbean Community, CARIFORUM, and the ACP. Within CARICOM, Guyana and the OECS are engaged in 
broad and deep regional integration that enco mpasses not only trade but also human, social, 
cultural, and foreign policy cooperation. Guyana and the OECS also share similar interests and concerns as small vulnerable economies. 
4.99.  Guyana has reiterated its strong commitment to the WTO and the MTS and its desire for a 
successful conclusion of the DDA, one that is balanced and addresses the interests of all Members 
including SVEs. We, in the OECS, share those perspectives. Guyana unfortunately remains a non-resident Member of the WTO and conducts its engagement with the WTO from Brussels. This 
is a challenge which the member States of the OECS can fully appreciate. 
4.100.  We take note of the issues that have been raised by Members in their questions and the 
responses which Guyana has provided. As a sma ll developing economy, Guyana naturally faces 
several resource and capacity limitations which it ha s to overcome in fulfilling its obligations at the 
multilateral level. This emphasises the need for continued financial and technical assistance and special and differential treatment for small economies like Guyana. We, however, commend Guyana for the efforts that it has demonstrated to bring its legislative, regulatory and WT/TPR/M/320 • Guyana 
 
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  administrative frameworks into closer alignment with the WTO and its agreements and encourage 
the Government to continue on that path. 
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU 
4.101.  Firstly, we are pleased by the Secretariat’s judgment that Guyana’s economic performance 
has improved since its last Review in 2009, particularly as a result of the Government’s significant 
reform.  
4.102.  We are seeing that it continued the efforts to liberalize and facilitate trade. It started the 
operation of risk management in customs proc edures; eliminated some export duties on 
non-manufactured goods; and concluded negotiations of new or revised bilateral air services agreements with several trading partners. Guyana also lowered the corporation tax rate and adopted new laws concerning sanitary and phytosanitary (SPS) measures during the review 
period. Guyana's economic performance has also improved by foreign direct investment and the 
expansion of private sector credit. The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu welcomes these efforts by the Government of Guyana to provide a friendly environment for 
doing business, which would promote economic growth in Guyana. 
4.103.  Secondly, with respect to trade policies, we note that Guyana is one of the original 
Members of the WTO. However, only six notifications were submitted to the WTO in 2010, mainly 
on the legislation of contingency measures; a number of other notifications are outstanding. No 
notifications were submitted in 2013 and 2014. Ther efore, my delegation would like to encourage 
Guyana to comply with notification obligations to maintain the transparency of Guyanese policies and institutions among Members. 
4.104.  Thirdly, in spite of its non-resident status and the related difficulties, Guyana nevertheless 
participates actively in the Doha negotiations both through the Small and Vulnerable Economies group and a CARICOM Member. We appreciate it  and looks forward to Guyana’s continued 
engagement as work progresses towards conclusion. 
4.105.  As far as our trading relationship with Guyana is concerned, the value of the two-way trade 
between Guyana and the Separate Customs Territo ry of Taiwan, Penghu, Kinmen and Matsu was 
about only US$7 million in 2014. We are deeply conv inced that there are certainly potential exists 
for greater economic cooperation and trade expansion in the future between us. 
4.106.  Finally, we would like to reiterate its hope that Guyana will continue its efforts to improve 
in infrastructures as well as the productivities and diversities of export products, in order to benefit 
from the multilateral trading system. 
ARGENTINA 4.107.  We note from the Secretariat report that Guyana's economic performance has improved 
since the previous review, bolstered by fore ign direct investment and the expansion of 
private-sector credit. 
4.108.  We also note that GDP growth has been robu st, rising by 5.2% in 2013 and expected to 
have expanded by 5.6% in 2014. Guyana's per capita GDP is estimated at US$4,000 for 2014, up 
from US$2,360 in 2009.
1 
4.109.  The policy governing Argentina's relations with  Guyana has been marked by the reopening 
of our Embassy in the country in June 2011, the signing of the Framework Partnership Agreement 
between MERCOSUR and Guyana in June 201 3 and the signing of a Memorandum of 
Understanding on the Establishment of a Bilatera l Consultation Mechanism between Argentina and 
Guyana in June 2014. 
4.110.  Despite this new integration structure, trade with Guyana has not increased significantly 
and is markedly uneven. Between 2008 and 2013 , Argentina's annual exports never exceeded 
US$4 million, and there are few imports from Guyana. In 2014, the trade balance stood at 
                                               
1 WTO document WT/TPR/S/320, para. 1.1, p. 9. WT/TPR/M/320 • Guyana 
 
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  US$2.6 million in Argentina's favour, and amounted  to US$0.7 million in the first half of 2015 – a 
52% decline compared with the same period in 2014. 
4.111.  Although trade between our two countries is modest, the absence of competitiveness and 
complementarity in the relevant key sectors show that there is potential for growth in our bilateral 
trade. 
4.112.  We are therefore pleased to note from the Secretariat report that in 2011 Guyana adopted 
new sanitary and phytosanitary legislation, under which imports of animals and animal products 
are no longer required to be sourced from prescribed countries, but may originate from territories 
that are determined to be disease-free by the World Organisation for Animal Health (OIE).2 
4.113.  To conclude, while reiterating our appreciation of this renewed opportunity to exchange to 
exchange points of view and comments on the tr ade policy of Guyana, we would like to draw 
attention once again to the importance of this ex ercise in transparency from every point of view, 
and to wish the Guyanese authorities a successful third trade policy review. 
JAMAICA 
4.114.  The delegation of Jamaica congratulates the Government of Guyana and the WTO 
Secretariat for this fruitful execution of Guyana ’s third Trade Policy Review. We acknowledge and 
applaud the Government and people of Guyana for the various trade and economic initiatives 
taken in the context of limited resources and economic constraints. We recognize the efforts made 
to reform the public sector, raise the country’s economic profile and advance its integration into the regional and global economy over the period under review. 
4.115.  Jamaica takes this opportunity to recognize Guyana’s role as one of the founding members 
of our Caribbean Community and Single Market  and the seat of CARICOM. We acknowledge 
Guyana’s important regional role in agriculture an d food security noting, for example, that Guyana 
is one of Jamaica’s main suppliers of rice.  
4.116.  We encourage Guyana to continue in its effort to promote economic development and 
encourage our CARICOM partner to pursue available avenues for technical assistance within the WTO including with respect to addressing its WTO notification obligations. 
4.117.  The delegation of Jamaica extends best wishes to the delegation of Guyana for a successful 
completion of the country’s third WTO Trade Policy Review. 
                                               
2 WTO document WT/TPR/S/320, para. 15, p. 7. WT/TPR/M/320 • Guyana 
 
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  5  REPLIES BY THE REPRESENTATIVE OF GUYANA AND ADDITIONAL COMMENTS 
5.1.  Thank you for being here this morning. I wish to thank Ambassador Paparizov for his very 
able guidance and chairmanship of these proceed ings; and Ambassador Sperisen-Yurt for agreeing 
to be the discussant and providing much needed insight and comments.  
5.2.  I would also like to express my appreciation for the work done by the staff of the Trade 
Policies Review Division. 
5.3.  I am indeed very appreciative of the helpfu l comments and questions raised by members. 
While we have already addressed most of the questions or queries raised at the opening session 
and by way of the written answers we had submi tted to the advance questions, there are some 
key issues which may bear further clarification and emphasis.  
Economic Environment 
Fiscal management 
5.4.  Over the next five years, the Government has committed to the maintenance of 
macroeconomic stability by creating conditions to foster a positive growth trajectory while 
improving expenditure management and revenue administration, low inflation, stable exchange 
rate and sustainable debt. This will involve the und ertaking of prudent and targeted fiscal policy to 
reduce the deficit in both the Central Government  and Public Enterprises; introduction of new 
investment criteria, the requirement of economic and social feasibility studies as a basis for 
investment and enforcement of conditions attached to fiscal concessions; requirement for semi-autonomous entities to direct surplus funds to the Consolidated Fund in keeping with the provisions of the Constitution. In addition, a review of recent State contracts has commenced 
alongside special and forensic audits. 
Diversification of the economy and exports  
5.5.  The announced enforcement of contracts and concessions awarded to foreign companies in 
the areas of forestry and sawmilling, for example, are expected to help enhance the diversification 
of output of these sectors that have an obvious po tential for diversifying exports. Diversification of 
the output of the sugar industry into new produc ts such as rum and flavoured rums as well as 
work on the registration of GIs w ill be enhanced as a result of th e changes intended to improve the 
management of Guysuco, the main sugar producer.  
5.6.  Several mining investments including manganese are expected to move into the production 
phase in the course of the next 24 months. The search for new markets for rice exports has been a 
given special urgency by the loss of the Venezuel an market and the new markets being explored 
include Panama, the Caribbean and West Africa.  
5.7.  Guyana Telephone and Telegraph Co. Ltd. (GT&T) and Qualfon, inter alia , have set up large 
call centers to provide IT back-office services to the North American market. Guyana has many 
attributes necessary to develop the Information and Communications Sector (ICT) sector, including affordable labour costs; linguistic, cultural and time zone affinities with major markets in 
North America; and an open environment for privat e investment. While Guyana has relatively high 
teledensity for a country of its income level, development of the ICT sector has been hindered by the high costs of international telecommunications services, both dial-up and leased lines, and by 
an ambiguous regulatory framework for data tr ansmission. Additionally, the costs of local 
broadband connections are very high, a result of limited competition. A number of foreign 
investors have expressed the belief that present costs of telecommunications and lack of trained personnel are important limiting factors. The liberalization of the telecoms sector will address all of 
these constraints. 
Structural reform  5.8.  The structural reform programme to be pursued by the coalition Government will address the 
critical areas of good governance, employment maximization, inequality and poverty reduction, WT/TPR/M/320 • Guyana 
 
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  production transformation and economic diversification, social integration, human development 
and youth, crime reduction, personal, public and territorial security. 
5.9.  Among the priority Constitution Reforms to be proposed by the Coalition would be 
rebalancing the responsibilities of the Executive to separate the functions of Head of State from 
that of Head of Government, clearly defined mechanisms within which would entrench the 
fundamental rights of citizens and the rights of  the Legislature unmediated by the Presidency. The 
effective separation of powers between the Execut ive, the Legislature and the Judiciary are to be 
assured. 
5.10.  Steps have also been taken to have a long-term National Development Plan and 
consequential programmes prepared, based on cons ultation and consensus with key stakeholders, 
with the objective of taking sustainable advantag e of the vast potential of Guyana’s resource 
endowments. 
Infrastructure and development 5.11.  As part of a regional integration programme there is discussion of three inter-related 
projects that will enable the opening up of Roraima State of Brazil and Guyana’s Rupununi 
sub-region to the Atlantic. Guyana is pursuing funding for the paving and completion of the road link between Lethem in the south to the coast vi a the Rupununi and Linden. Related to this road 
link is a deep water harbour, the feasibility  study of which has already been completed. 
5.12.  Considerable expansion in the housing stock will also enhance the status of Guyana 
infrastructure. 
Trade and Investment Regimes 
WTO notifications; DDA negotiatio ns; technical assistance needs 
5.13.  Guyana remains fully committed to achieving a successful conclusion of the negotiations 
under the WTO Doha Development Agenda (DDA). Guyana also supports the commitments 
achieved under the Bali Package as a realistic approach to securing the development-oriented and 
balanced outcomes being advocated for small vulnerable economies (SVEs). The multilateral negotiation is, indeed, important to the sustainable development of a small developing economy 
such as Guyana with a high degree of trade openness. In this regard, Guyana looks forward to a 
productive outcome at the upcoming 10th Ministerial conference later this year. 
5.14.  Guyana undertakes to update all outstanding notifications by the end of 2015. 
Policy coordination with CARICOM 
5.15.  Guyana's trade policy is inextricably linked to the country's overall foreign policy. As a 
member of the Caribbean Community (CARICOM), Guyana is fully committed to the realization of the CARICOM Single Market and Economy (CSME) and the country's trade policy, including its 
external trade negotiations with third countries, closely aligned with the overall trade policy of the 
Community.  
Business environment; national treatmen t of foreign investment; the National 
Development Strategy 
5.16.  Steps have also been taken to have a long-term National Development Plan and 
consequential programmes prepared based on consultation and consensus with key stakeholders with the objective of taking sustainable advantag e of the vast potential of Guyana’s resource 
endowments. The Government has further outlined  its intention in the 2015 Budget to review and 
reform the general framework and regulatory environment for doing business in Guyana. These reforms will target the Tax Administration System , the Public Service and the Public Procurement 
System, as well as options for the reform  of the General Investment Framework. WT/TPR/M/320 • Guyana 
 
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  Trade Policies and Practices by Measure 
Implementation of the Agreement on Trade Fac ilitation (the Category  A notification and 
instrument of acceptance); st reamlining customs procedures 
5.17.  Guyana has advanced its preparations for the implementation of the WTO Trade Facilitation 
Agreement which will be supported by a strengthened Guyana Revenue Authority. Guyana 
undertakes to submit its Instrument of Acceptance  and Category "A" notification by the end of 
October 2015. 
Tariffs (e.g. certain tariff lines exceeding the bound rates, gap between the bound and 
applied rates, tariffs on particular products) 
5.18.  In May 2014, the Cabinet approved the correction of the MFN rates of the sixteen (16) tariff 
lines that exceeded the WTO bound rate. The changes are reflected in the tariff (HS 2012). 
Zero-rated VAT on some domestically  produced goods; environmental tax 
5.19.  This measure was revised in August 2015 to apply to both the locally-produced and 
imported products.  
Sanitary and phytosanitary measures (e .g. the new SPS regime, legislation on 
biodiversity) 
5.20.  The draft Biosafety/Biotechnology legislation will address GMOs. The notification is expected 
to be published before the end of 2015. 
Transparency and accountability in government procurement 
5.21.  The parties which constitute the present coalition Government have made a public and 
unambiguous commitment to ensuring the establishment of a Public Procurement Commission 
(PPC). The establishment of this bo dy is not only provided for in the Constitution of Guyana but it 
was one of the issues which featured most prominently in the recent General elections.  
5.22.  The pace of the establishment of the PPC is , however, dependent on the mustering of a 
2/3 majority in the National Assembly. The Constitu tion requires such a majority or a referendum 
before the legislation setting up the PPC can be effected. The last Government resolutely opposed 
putting the entity in place unless the Cabinet is given the last say on the matter. We shall be 
pushing to secure the necessary majority. 
Updating the IPR regime; implementation of the TRIPS Agreement; participation in other 
IP related international conventions 
5.23.  Guyana is committed to enacting new intellectual property legislation. The new legislation 
will be WTO TRIPs Agreement compliant and will address the pertinent issues raised in this third 
Trade Policy Review.  
Sectoral Policies 
Sugar sector reforms; the Agricultural Export Diversification Programme; the National 
Agriculture Development Strategy 
5.24.  The agriculture sector comprises four principal subsectors: sugar, rice, non-traditional 
commodities (fruits, vegetables, coconuts, herbs and spices, and livestock), and fisheries. The 
Government's vision for Agriculture 2020 sees the sector continuing to play a premier role in transforming the nation's development outlook in the medium- to long-term in terms of meeting the nation's food security requirements, generati ng sustainable jobs and contributing to exports 
and foreign exchange earnings. The Government is  already exploring suitable options to address 
the financing needs of the sector, given the urgency to move the industry towards increased manufacturing and value added production. WT/TPR/M/320 • Guyana 
 
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  5.25.  With respect to sugar, the Government has appointed a Commission of Inquiry to 
"investigate and inquire into the current state of  cane cultivation, production and marketing of 
sugar, molasses and other by-products including power". The economic well-being of the sugar 
industry is critical to the protection of jobs and growth of the economy, as well as the contribution 
it makes to GDP, exports and foreign exchange. 
Benefits accorded to foreign inve stment in the fisheries sector 
5.26.  Any foreign company interested in investing in  Guyana may apply to the Guyana Office for 
Investment (Go-Invest). A list of incentives is provided for local and foreign investors in the 
fisheries sector.  
Strategy for the energy sector; u pdates of the hydropower project 
5.27.  Over the next five years, the Government of Gu yana will pursue a more integrated approach 
to providing for the country’s energy needs. This will include all sources of energy (fossil fuels, 
wind, solar, baggasse and hydropower). The Go vernment will commence feasibility studies for a 
large hydropower project with support from development partners. Independent power producers 
and suppliers will be encouraged to construct energy farms and sell energy to the national grid. 
The Government will also construct and/or promote the construction of small hydro systems in various locations, and will power new town ships using alternative energy sources. 
5.28.  The Government is in the process of discussing with bilateral partners and some regional 
banks, funding for a new hydro-electric facility on the Mazaruni basin in place of the aborted Amaila hydro-electric project. At the same time, ongoing work on the Guyana Power and Light Company (GPL) will contribute to the power infrastructure.  
5.29.  The Government will establish a Sovereign Wealth Fund to protect the economy from the 
volatile nature of mineral revenues, help grow and modernize the sustainable non-extractive sectors of the economy. This fund will also he lp to avoid the potential negative impacts of a 
sudden surge in national revenue expected from the establishment of an oil and gas industry in 
Guyana.  
Foreign investment restrictions  in mining and exploration 
5.30.  The Mining Regulation No. 3 of 2005 recognizes mining operations of three different scales 
namely: (i) Small Scale Mine which is subject to a Claim licence; (ii) Medium Scale Mine which is subject to a Mining Permit; and (iii) Large Scale Mine which is subject to a Mining License. 
5.31.  Foreign companies may apply for Mining Licences (Large Scale). Any applicant for a Mining 
Licence must demonstrate technical ability and understanding of the geological terrains as well as 
financial soundness and be of good repute. In the main, feasibility Studies, Mine Plan and 
Environmental Permits are all prior submissions to be made before the grant of a Mining Licence. 
Anti-money laundering legislation 
5.32.  The Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act of 
2015 which was passed in Parliament in June was assented to by the President in July 2015. Along 
with the Anti-Money Laundering and Countering th e Financing of Terrorism (AMLCFT) Regulations 
of 2015 it has been sent to the Americas Re gional Review Group (ARRG). Guyana is now 
addressing an agreed action plan with the Financial Action Task Force (FATF).  
Services liberalization; competition and re forms of the telecommunications sector; ICT 
strategy 
5.33.  The Government has targeted the development of the services sector in its economic 
diversification programme, in light of the erosion of traditional preferences for the country's key 
agricultural exports and the fact that domestic production of services exceeds 60% of GDP and 
accounts for less than 12% of exports.  WT/TPR/M/320 • Guyana 
 
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  ICT and telecommunications 
5.34.  The arena of IT and telecommunications are central to the new Government’s policy 
priorities. 
5.35.  The Government has commissioned Digital Nation, a comprehensive three year master plan 
to help prepare Guyana for that exciting transformation from a mostly commodities-driven 
economy to a fully-fledged and respected player in the International Digital Economy. This includes 
a comprehensive ICT policy with the following objectives: 
 ICT infrastructure for accessible, generally affordable, universal, and reliable ICT facilities 
and services. 
 A legal and regulatory framework to create an enabling legal and regulatory environment 
that recognizes that ICTs are now tradable and that the ICT sector (including 
telecommunications) must be organized along competitive lines to ensure growth and 
development within the sector and the economy as a whole. 
 Development of the knowledge, skills and attitu des required for ICT use across all sectors. 
 Industry use of ICT to create an enabling an d conducive environment for investment and the 
development of a vibrant and sustainable economy. 
 Government as an active participant and user of ICT (to simplify government transactions, 
improve accountability, make interaction betw een citizens and the Government easier and 
quicker, advance rights like the access to information). 
 Security to significantly improve the effectiven ess of law enforcement by utilizing fixed and 
mobile network infrastructure. 
5.36.  The last Government embarked on a project that  includes the laying of a fibre optic cable 
from Brazil which, when complete, will facilitate cheaper and more reliable access to the internet and should facilitate the emergence of more ICT driven enterprises such as call centres. The new 
Government is reviewing the project in the light of its suspension arising from problems with its 
management and the quality of work. 
5.37.  The Telecommunications Bill 2015 provides fo r an open, liberalized and competitive 
telecommunications sector that will be attractive to new market entrants and investors, while 
preserving the activities of the current sector pa rticipants. By creating a competitive environment 
for telecommunications, the Bill is expected to re sult in greater choice, better quality of service 
and lower prices for consumers. 
5.38.  Finally, we will undertake to expedite the actions required for the areas so identified in this 
third Trade Policy Review. We will  also provide any outstanding information to the WTO Secretariat 
in the time prescribed. 
DISCUSSANT 
5.39.  I would like to start by thanking H.E. Carl Greenidge and his delegation for the 
comprehensive statement delivered on Tuesday, as well as the Secretariat for all the hard work in 
preparing for this review. 
5.40.  I have been very pleased to note Members active engagement in Guyana's third Trade 
Policy review over the past days. This has been reflected not only in the advanced written questions received, but also in the significant number of statements made during the opening 
session last Tuesday. In their interventions, Members praised Guyana for its positive economic 
performance during the past five years and its st eady GDP growth rates. They also highlighted 
Guyana's efforts to diversify its economy, improve its business climate, enhance competitiveness 
and strengthen foreign investment attraction. WT/TPR/M/320 • Guyana 
 
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  5.41.  In his opening statement, Minister Greenidge shared a comprehensive overview of Guyana's 
political and economic background, as well as initiatives within the Government's trade and economic policies, aimed at improving areas such as the tax regime, public procurement, ICT and 
Telecommunications and Energy policy. Guyana provided detailed answers and further 
clarifications to most of the questions raised by Members throughout this exercise and clearly 
reiterated its commitment to the multilateral trading system. 
5.42.  I would like to take this opportunity to make a brief summary of the main points raised by 
Members in their questions and interventions: 
 With regards to the economic environment, Me mbers expressed interest to learn more about 
Guyana's economy diversification, fiscal management strategies, infrastructure development programmes and envisaged structural reforms.  
 With respect to the trade and investment regimes, Members raised questions regarding 
updates on WTO notifications, national poli cy coordination with the CARICOM and topics 
such as the national treatment to foreign investors.  
 In terms of trade policies, several questions referred to the implementation of the Trade 
Facilitation Agreement, the zero-rated VAT and environmental taxes, as well as transparency in government procurement and updates to the IPR regime, among others.  
 And finally, with respect to sectoral policies, Members raised questions regarding the sugar 
sector reforms, strategies for the energy sector, foreign investment restrictions and services liberalization.  
5.43.  In conclusion, I believe this two-day meeting has provided a very good opportunity to 
review Guyana's trade policy and engage in a substantive dialogue. The interactions between 
Members and Guyana's delegation have proven to be very productive and informative. There are however, still remaining topics that could be further discussed in today's session. 
5.44.  Please let me wish Minister Greenidge and his delegation a safe trip back to Georgetown and 
a successful conclusion of this review. 
EUROPEAN
 UNION 
5.45.  Let me first express our appreciation to Guyana delegation for the replies they have 
provided and for the presentation given on Tuesday and this morning. 
5.46.  The EU notes that this review has been helpful for better understanding Guyana's trade 
policy and we hope that Guyana will take into  account, when and where possible, the concerns 
expressed by several Members, in particular with reference to the challenges that Guyana has to 
face for improving its business environment and for diversifying its economy and exports. 
5.47.  The EU will follow closely the works of the new Government and would like to underline that 
improving the business environment requires also  the effective implementation of the various 
policy initiatives and plans that will be adopted by the new Government. In this regard, we do take careful note of the statement this morning which was very informative. 
5.48.  The EU understands that Guyana needs more time for collecting the statistics on public 
procurements. We would just like to reiterate our interest in receiving them when possible as indicated in our questions and follow-up questions we submitted yesterday. 
5.49.  In conclusion, we would like to thank you for the constructive participation in this exercise. 
JAMAICA 
5.50.  I want to extend warm greetings to Minister Greenidge, it is an honour and a pleasure for 
our delegation to see him driving his delegation, presentation and responses in the setting. WT/TPR/M/320 • Guyana 
 
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  5.51.  For Jamaica, Guyana responding on the developments in its economy, which is a significant 
component of the Caribbean Single Market, is important on many levels and we are pleased to continue to witness the progress that Guyana is making in its trade policy regime and its engagement in a wider region. 
5.52.  Like other colleague Members, we wish to than k the Minister and his team and wish Guyana 
a successful conclusion to its review, and more importantly, continued success in its endeavour to strengthen its economy and contribute to the development of our region. 
UNITED
 STATES 
5.53.  The United States would also like to extend its thanks and appreciation to Minister 
Greenidge and his delegation for their efforts in preparing for and presenting on this Trade Policy Review. We would like to extend our gratitude to Ambassador Sperisen-Yurt for his informative 
and insightful comments that helped guide our discussion. 
5.54.  We have found the discussion and exchange to have greatly improved our understanding of 
Guyana's trade policy regime and it has provided  useful context for the development challenges 
and opportunities that lie in front of the Government as it moves its policy agenda forward. As 
other delegations have noted, we hope that the comments expressed by Members will be taken into account and will help and support that effort. 
5.55.  We applaud your ongoing efforts to diversify your economy and the constitutional reforms 
programme outlined as part of our discussion. An d we appreciate your efforts to support and 
advance the work of the WTO, including in the on going negotiations, fulfilling your notification 
obligations and improvements to your IPR regime that you have listed. 
5.56.  We warmly welcome your efforts to improve the business climate to streamline customs 
procedures and greatly applaud your efforts to pr omptly ratify the Trade Facilitation Agreement 
and get under way with implementation. 
5.57.  We have posed a number of questions to your delegation with the aim of gaining a more 
fulsome understanding of your trade regime. We appreciate the responses you have provided and 
we acknowledge the hard work and effort that you have put into preparing these responses. We 
have submitted some additional follow-up questions in writing and we look forward to the 
responses to those as well as the outs tanding questions previously posed.  
5.58.  Once again, we want to thank you for your hard work and efforts in ensuring an informative 
and substantive review and congratulations to you Minister and your delegation for a successful 
trade policy review. WT/TPR/M/320 • Guyana 
 
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON 
6.1.  The third Trade Policy Review of Guyana has provided us with a good opportunity to 
understand the trade and related policies of Guyana since its last Review in 2009, learn its achievements since then, and acknowledge the challe nges it still faces. The review has benefitted 
from the constructive and informative participation of Guyana’s delegation, headed by the 
Honourable Mr Carl B. Greenidge, Vice-President and Minister of Foreign Affairs, and from the insightful comments of the discussant, H.E. Ambassador Eduardo Ernesto Sperisen-Yurt, 
Permanent Representative of Guatemala to the WT O. Members appreciated that Guyana has opted 
for the alternative time-frame for this review, an d we look forward to answers to any outstanding 
questions no later than one month after this meeting. 
6.2.  Members commended Guyana's robust economic growth over the past six years, when GDP 
grew at an average annual rate of 4.7% and its GDP per capita nearly doubled. The growth was 
supported by foreign direct investment and private sector credit. Members encouraged Guyana to pursue further structural reforms, prudent macroe conomic policies, good governance, and effective 
management of debt profiles to sustain economic growth. Members also noted infrastructure 
bottlenecks Guyana faces, and commended Guyana’s initiatives to improve infrastructure and to make information and communication technologies sector a top priority. 
6.3.  Members noted that Guyana maintains an open trade and investment environment. 
Nonetheless, they noted that Guyana's export s are highly concentrated in a few primary 
commodities, leaving Guyana vulnerable to fluctuations in world prices as well as to adverse weather conditions. Members encouraged Guyana to continue its efforts to diversify its exports and 
economic structure. Members also noted that the persistent current account deficit is a challenge 
Guyana faces.  
6.4.  Members applauded Guyana's commitment to th e multilateral trading system and to a 
successful conclusion of the Doha Development Agenda. At the same time, they noted Guyana’s 
challenges as a non-resident Member, and recognized its resource and capacity constraints. Members welcomed that Guyana adopted a number of trade facilitation measures, such as risk 
management. Members noted that a national comm ittee for the implementation of the Agreement 
on Trade Facilitation has been established, and encouraged Guyana to submit its Category A notification and ratify the Agreement. Members also urged Guyana to submit other outstanding 
notifications to the WTO, and improve transparency. Some Members pointed out that technical 
assistance may be beneficial for Guyana to further implement the WTO Agreements. 
6.5.  Members commended Guyana’s efforts in regional trade agreements for further trade 
liberalization, and hoped that the regional trade agreements Guyana is involved in complement 
and strengthen the multilateral trading system. 
6.6.  Members noted that during the review period, Guyana took steps to improve its business and 
investment environment, such as the reduction of the corporation tax rates and establishment of a 
credit reporting system. Nonetheless, certain non-national treatment to foreign products and 
investors drew Members' attention. For instance, zero-rated value-added taxes are applied to some domestically produced products but not to their imported equivalents, and the environmental tax is applied only to imported beverages. I note the statement of Minister Greenidge that the 
Cabinet has rectified this situation last August to apply the environmental tax to both 
locally-produced and imported products. The representative of Guyana stated that the Government has initiated various reforms including a tax reform aimed at improving transparency and 
efficiency as well as providing a level playing field for all businesses. Members also commended 
Guyana for its adoption of the Anti-Money Laundering Act.  
6.7.  In 2014, Guyana's simple average applied MFN tariff rate was 12.1%, whereas the simple 
average bound tariff rate was 58.3%. Some Members invited Guyana to close the gap between the 
bound and applied tariff rates in order to enhance the predictability of trade. Members also urged 
Guyana to rectify the situation where some applie d tariff rates exceeded their corresponding bound 
rates. In this connection, I welcome today's statement by Minister Greenidge that the correction of 
16 MFN rates has been approved by the Cabinet and has been reflected in the tariff. WT/TPR/M/320 • Guyana 
 
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  6.8.  During the period under review, Guyana revi sed its SPS legislation. Members commended 
that under the new legislation, procedures for imports of animals and animal products are simplified. They encouraged Guyana to continue improving the transparency of its SPS measures.  
6.9.  Members were interested in the Government’s priorities regarding, inter alia , government 
procurement, competition policy, and the management of state-owned enterprises.  
6.10.  While Guyana’s intellectual property regime has not yet been substantially updated since 
1966, Members noted that as part of a comprehensive review of the intellectual property regime, a 
Copyright Bill was being prepared. Members urge d Guyana to effectively implement the TRIPS 
Agreement, and encouraged Guyana to participate in some other intellectual property-related international conventions. 
6.11.  Members noted that Guyana has taken actions to reform its sugar sector, and were 
interested in the details of assistance provided to the sector. Members also expressed their 
interest in the agricultural diversification strategies, particularly concerning the promotion of "non-traditional" sectors. Members encouraged Guyana to take further steps to liberalize its 
services sectors, including telecommunications, and to enhance competition. The representative of 
Guyana stated that a draft new legislation concerning telecommunications is being finalized. 
6.12.  This third Review of Guyana's trade policies and practices was successfully concluded to the 
benefit of all the Membership. I am certain that Gu yana will find useful the extensive and fruitful 
discussion as well as the insights provided by Me mbers during the review and will take them into 
account to develop further its trade and economic policies to enhance the competitiveness of the country as well as the well-being of its people. The large number of advance written questions and 
of delegations that took the floor during our two days of discussions highlight the interest Members 
attach to Guyana's trade and related policies and its role in the multilateral trading system.  
6.13.  In closing, I would like to thank Minister Carl  Greenidge and the rest of the delegation from 
Georgetown, Ambassador Eduardo Ernesto Sperisen-Yurt as discussant, the Members and the 
Secretariat for their contribution to the third Trade Policy Review of Guyana.  
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