RESTRICTED  
  
WT/TPR/G/320  
28 July 2015  
(15-3846)  Page: 1/6  
Trade Policy Review Body  Original: English  
 
TRADE POLICY REVIEW 
REPORT BY 
GUYANA  
Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the 
Marrakesh Agreement Establishing the World Trade Organization), the policy statement by Guyana 
is attached. 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the first 
session of the meeting of the Trad e Policy Review Body on Guyana. WT/TPR/G/320 • Guyana 
 
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  Contents 
1   INTROD UCTION  .......................................................................................................... 3  
2   TRADE POLICY  ENVIRONMENT .................................................................................... 3  
3   TRADE POLICY DEVELOPMENTS .................................................................................. 4  
3.1   Implementation of the Econom ic Partnership Ag reement (EPA) ........................................ 4  
3.2   Review of the Economic Partnership Agr eement (EPA) .................................................... 4  
3.3   Trade Fa cilitation ...................................................................................................... . 4 
4   ECONOMIC INFRASTRUCTU RE AND DIVERS IFICATION ............................................... 5  
4.1   Information and Communica tion Technologi es (ICT) ....................................................... 5  
4.2   Services an d Investme nt ............................................................................................ 5  
4.3   New markets ............................................................................................................ 5 
5   PUBLIC-PRIVATE DIAL OGUE AND CONSULTATION ...................................................... 6  
 
 WT/TPR/G/320 • Guyana 
 
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1  INTRODUCTION 
1.1.  Since its previous Trade Policy Review in 2009, Guyana has experienced several critical 
political and policy developments which have impacted the country's development prospects and 
economic planning profoundly. 
1.2.  In November 2011, following the country's General Elections, the incumbent government was 
returned to office as a minority government with the Parliamentary opposition having a one-seat 
majority in the National Assembly. This development immediately evidenced increased advocacy 
by the parliamentary opposition and the wide cr oss-section of Guyanese society for improved 
governance, transparency and public accountability in government, particularly in the administration of the trade and investment regimes and the conduct of public procurement policy 
and practices. The National Assembly also presse d for legislative action in support of the long-
delayed local government elections throughout th e country and improved civil society involvement 
in national policy-making.  
1.3.  Following the 11 May, 2015 General Elections, a new Coalition government comprising the 
former parliamentary opposition was elected to Office with a one-seat parliamentary majority in the National Assembly. In keeping with the new government's vision and economic development 
programme, several public sector reforms, such as the following, have been initiated or announced 
as key and critical priorities, in the immediate to medium term, to raise the country's economic profile and advance its integration in the regional and global economy: 
(i) Strengthening of the trade and investment regimes through appropriate amendments 
to laws for tax reform and non-discriminatory treatment of investors. 
(ii) Updating of the Anti-Money Laundering an d Countering the Financing of Terrorism 
Legislation. 
(iii) Establishment of the constitutionally mandated public procurement commission to 
oversee government's procurement practi ces and ensure transparency and fair 
treatment in the award of public tenders.  
(iv) Improvement of the customs and trade admi nistration, including implementation of 
the trade facilitation agreement under the World Trade Agreement.  
(v) Establishing a comprehensive ICT policy and legal framework to fast track economic 
diversification, development of non-traditional sectors for job opportunities among 
women, youth and SMEs.  
(vi) Liberalization of the telecommunications sector to encourage fair competition and 
expansion of infrastructure. 
(vii) Strategic Tourism Development Plan to accelerate services sector development and 
exports. 
(viii)  Strengthening of trade and labour practices through appropriate revisions to laws and 
regulations and improved consultative framework.  
(ix) Improvement to trade and environment relations through promotion of a "green 
economy", sustainable harvesting of Guyana's forest products and rigorous enforcement of environmental legislation, including reform of the environmental tax. 
2  TRADE POLICY ENVIRONMENT 
2.1.  The Ministry of Foreign Affairs is responsible for the development and administration of the 
country's foreign trade policy. In this regard, the Ministry implements the national trade agenda in 
coordination with other trade-related public and non-state agencies.  WT/TPR/G/320 • Guyana 
 
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  2.2.  Over the past three decades, Guyana's trad e policy has become increasingly and inextricably 
linked to the country's overall foreign policy. At the regional level, Guyana, as a member of the Caribbean Community (CARICOM), attaches great importance to its participation in the Community's regional trade arrangements as the main vehicle to enhance the country's integration 
in the world economy and is fully committed to the realization of the CARICOM Single Market and 
Economy (CSME). As such, the country's trade policy, including its external trade negotiations with third countries, is closely aligned with the overall trade policy of the Community.  
2.3.  At the multilateral level, Guyana remains fully committed to achieving a successful conclusion 
of the negotiations under the WTO Doha Develo pment 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.  
2.4.  As stated in the previous Review of 2009 "G uyana is a very open economy and its support for 
a transparent, rules-based, multilateral trading system is unambiguous…" This policy approach will 
continue to underpin the country's foreig n trade agenda in the foreseeable future. 
3  TRADE POLICY DEVELOPMENTS 
3.1.  During the period under Review, Guyana implemented the following key trade developments: 
3.1  Implementation of the Econ omic Partnership Agreement (EPA) 
3.2.  In January 2011, Guyana commenced implementation of its tariff liberalization commitments 
under the Economic Partnership Agreement (EPA) between the European Union and the 
CARIFORUM Group of States. The agreed tariff liberalization under the EPA will be phased through 
to 2032. 
3.2  Review of the Economic Partnership Agreement (EPA) 
3.3.  In 2013, Guyana collaborated with its partners in the CARIFORUM Group of States and the 
European Union to commence the first Five Year Review of the Economic Partnership Agreement (EPA). The basis for the Review of the Economic  Partnership Agreement (EPA) is set out in the 
Joint Declaration on The Signing of the Agreement. The Joint Declaration provides for the Five Year 
Review, by stating that "a comprehensive review  of the Agreement shall be undertaken not later 
than five (5) years after the date of signature an d at five-yearly intervals, in order to determine 
the impact of the Agreement, including the costs and consequences of implementation. The Parties 
also "undertake to amend its provisions and adjust their application as necessary." 
3.4.  The Review process was initiated with two technical studies, commissioned respectively by 
the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) and the 
EU/CARIFORUM (jointly). The assessments and technical follow-up arising from these studies as 
well as individual country assessments will inform the appraisals and dialogue to be undertaken later in 2015 by the CARIFORUM-EU Ministerial Joint Council and other joint bodies established 
under the EPA.  
3.3  Trade Facilitation 3.5.  In September 2013, in preparation for the 9
th WTO Ministerial Conference held in Bali, 
Indonesia later that year, Guyana conducted a WTO-assisted National Trade Facilitation Needs 
Assessment to identify the country's needs an d priorities in the WTO Trade Facilitation 
Negotiations. In April 2015, Guyana established its National Committee on Trade Facilitation to oversee the implementation of the WTO Trade Facilitation Agreement agreed in Bali. The 
Committee is jointly coordinated by the Ministry of  Foreign Affairs (Foreign Trade) and the Guyana 
Revenue Authority (Customs and Trade Administration) and includes representation from other relevant border and trade-related agencies. WT/TPR/G/320 • Guyana 
 
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  4  ECONOMIC INFRASTRUCTURE AND DIVERSIFICATION 
4.1.  Given the country's physical size and terrain and the predominant concentration of the 
population on the narrow Atlantic coast, infrastructural development is critical for the vital economic transformation and population settlemen t. At the same time, however, the country's 
trade-related infrastructural needs extend beyond the national boundaries. In addition to being a 
member of the Caribbean Community (CARICOM), Guyana is also a mainland country in South America. As such, it has to pursue trade strategies and physical integration projects that would 
enable it to expand trade and economic cooperation with its South American neighbours with 
which it shares borders, and at the same time foster inter-regional trade and investment linkages. 
4.1  Information and Communication Technologies (ICT) 4.2.  In addressing the 'Economic Infrastructure'  requirements  for the country's trade expansion 
and integration into the world economy, the government has identified the Information and 
Communication Technologies (ICT) as a top priority. Greater use of ICT will help firms reduce their costs, enhance their productivity and increase overall efficiency, and thus make a greater 
contribution to economic growth. Some key el ements of the government's ICT policy are: 
- A legal and regulatory framework to create an enabling legal and regulatory 
environment that recognises 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 attitudes required for ICT use across all 
sectors. 
 - Industry use of ICT to create an enabling  and 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 between citizens and the 
Government easier and quicker, advance rights like the access to information). 
 - Security to significantly improve the effectiv eness of law enforcement by utilizing fixed 
and mobile network infrastructure. 
 - Encourage and support the use of ICT to pr edict, monitor and respond to disasters 
and in environmental management. 
 
4.2  Services and Investment 
4.3.  The global trading environment has already signalled key changes in the post-2015 period. 
Guyana must pay careful attention to improving its competitive posture through accelerated diversification of its economic base. This will require a robust approach to, among other things, the services and investment sectors. 
4.4.  With the erosion of traditional preferences for the country's key agricultural exports to the 
developed country markets and faster growth in global services production, the government will pursue the development of the services sector  and increased services exports. In Guyana, 
production of services exceeds 60% of GDP bu t accounts for less than 12% of exports. The 
potential, therefore, for the development of the services sector and the expansion of services 
exports is immense. For this to happen, however, the capacity of Guyanese services providers to 
access export markets will have to be further developed through foreign investment and aid for 
trade support. 
4.3  New markets 4.5.  Guyana's export trade has traditionally been concentrated in the developed markets of 
Europe and North America, in addition to the re gional CARICOM market. Su stained effort by the 
Government and the private sector is targeted at diversifying the destination of Guyana's WT/TPR/G/320 • Guyana 
 
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  expanding exports through negotiation and/or implementation of effective market access in non-
traditional markets.  
5  PUBLIC-PRIVATE DIAL OGUE AND CONSULTATION 
5.1.  In keeping with its declared public po licy of good governance and transparency, the 
Government of Guyana is committed to the cons ultative process and focused public-private 
dialogue to enhance the understanding and in volvement of the Guyanese public in the 
development of the country's trade policy and to en courage the broad appreciation of the benefits 
and impact of trade and trade liberalization.  
 
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