WT/TPR/S/282/Rev.1  
6 August 2013  
(13-4195)  Page: 1/78  
Trade Policy Review Body   
 
TRADE POLICY REVIEW 
REPORT BY THE SECRETARIAT 
SURINAME  
Revision 
This report, prepared for the second Trade Policy Review of Suriname, has been drawn up by the 
WTO Secretariat on its own responsibility. The Se cretariat has, as required by the Agreement 
establishing the Trade Policy Review Mech anism (Annex 3 of the Marrakesh Agreement 
Establishing the World Trade Organization), sought clarification from Suriname on its trade policies and practices.  
Any technical questions arising from this report may be addressed to Messrs John Finn 
(tel: 022/739 5081), Michael Kolie (tel: 022/739 5931), and Bernard Kuiten (tel: 022/739 5676).  
Document WT/TPR/G/282 contains the policy statement submitted by Suriname. 
 
 
Note: This report was drafted in English. WT/TPR/S/282/Rev.1 • Suriname  
 
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  CONTENTS 
SUMMARY ....................................................................................................................... . 6 
1   ECONOMIC ENVIRONMENT .......................................................................................... 8  
1.1   Overview .................................................................................................................. 8  
1.2   Recent Econ omic Developments.................................................................................. 10 
1.3   Developments in Trade .............................................................................................. 13 
1.4   Developments in Investment ...................................................................................... 15 
2   TRADE POLICY REGIME: FR AMEWORK AND OB JECTIVES .......................................... 17  
2.1   Introduction ............................................................................................................. 17 
2.2   General Constitution al and Legal Framework ................................................................ 18 
2.3   Development and Admini stration of Trade Policy ........................................................... 19 
2.3.1   Agencies involved in  trade policy implementation ....................................................... 19 
2.4   Trade Poli cy Objectives ............................................................................................. 20 
2.4.1   General trad e policy objectives ................................................................................ 20 
2.4.2   Sectoral trade policy objectives ................................................................................ 22 
2.5   Trade Agreements and Arrangements .......................................................................... 22 
2.5.1   Multilate ral agreements .......................................................................................... 22 
2.5.2   Regional agreements .............................................................................................. 23 
2.5.2.1   CARICOM ........................................................................................................... 23 
2.5.2.2   CARICOM b ilateral agreements.............................................................................. 24 
2.5.2.3   Non-recipr ocal arrang ements ................................................................................ 24 
2.5.3   Bilateral agreements .............................................................................................. 24 
2.6   Trade Disputes  and Consul tations ............................................................................... 24 
2.7   Foreign Inve stment Regime ....................................................................................... 24 
3   TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 27  
3.1   Measures Direct ly Affectin g Imports ............................................................................ 27 
3.1.1   Registration and customs procedures ........................................................................ 27 
3.1.2   Custom s valuation ................................................................................................. 28 
3.1.3   Tariffs an d other charges ........................................................................................ 28 
3.1.3.1   MFN tariff levels and struct ure .............................................................................. 28 
3.1.3.2   Other du ties and charges ..................................................................................... 31 
3.1.3.3   Bindings in the WTO ............................................................................................ 32 
3.1.3.4   Preferential tariffs ............................................................................................... 32 
3.1.4   Internal taxe s affecting imports ............................................................................... 32 
3.1.5   Rules of origin .......................................................................................................  33 
3.1.6   Import prohibitions, restrictions, an d licensing ........................................................... 33 
3.1.7   Continge ncy measures ........................................................................................... 33 
3.1.8   Standards and technical regulations ......................................................................... 33 
3.1.9   Sanitary and ph ytosanitary measures ....................................................................... 34 
3.2   Measures Directly Affecting Exports ............................................................................. 36 WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.2.1   Procedures ........................................................................................................... 36 
3.2.2   Export taxes, charges,  levies, and minimum prices ..................................................... 36 
3.2.3   Export prohibitions, restrictions, and licensing ............................................................ 36 
3.2.4   Export subs idies and incentives................................................................................ 36 
3.2.5   Export promotion, financ e, insurance, an d guarantees ................................................ 36 
3.3   Measures Affectin g Production and Trade ..................................................................... 37 
3.3.1   In centives ............................................................................................................  37 
3.3.2   Business regist ration and licensing ........................................................................... 37 
3.3.3   Competition policy and price controls ........................................................................ 38 
3.3.3.1   Competition policy .............................................................................................. 38 
3.3.3.2   Pric e contro ls ..................................................................................................... 38 
3.3.4   Governme nt procurement ....................................................................................... 39 
3.3.5   State-trading, state-owne d enterprises, an d privatization ............................................ 40 
3.3.6   Intellectual property rights ...................................................................................... 40 
4   TRADE POLICIES BY SECTOR ..................................................................................... 43  
4.1   Agriculture ............................................................................................................. . 43 
4.1.1   Trade ................................................................................................................. .. 44 
4.1.2   Policies ................................................................................................................. 44 
4.1.2.1   Rice ................................................................................................................ .. 45 
4.1.2.2   Banana s ............................................................................................................ 47 
4.1.2.3   Livest ock ...........................................................................................................  48 
4.1.2.4   Fruits and vegetables .......................................................................................... 48 
4.2   Fisheries ............................................................................................................... .. 48 
4.2.1   Features ............................................................................................................... 48 
4.2.2   Policies ................................................................................................................. 50 
4.3   Mi nerals  ................................................................................................................ .. 50 
4.3.1   Petroleum and gas ................................................................................................. 52 
4.3.2   Bauxite and aluminium ........................................................................................... 52 
4.3.3   Gold .................................................................................................................. .. 53 
4.4   Financial Services ..................................................................................................... 54 
4.4.1   Banks ................................................................................................................. . 54 
4.4.1.1   Structure ...........................................................................................................  54 
4.4.1.2   Legal and in stitutional framework .......................................................................... 56 
4.4.2   Insura nce services ................................................................................................. 57 
4.4.3   Other financial services ........................................................................................... 58 
4.5   Teleco mmunicati ons ................................................................................................. 58 
4.6   Maritime Transport ................................................................................................... 60 
4.7   Air Transport ...........................................................................................................  62 
4.8   Tourism ................................................................................................................. . 64 
REFERENCES .................................................................................................................. 6 5 WT/TPR/S/282/Rev.1 • Suriname  
 
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  5   APPENDIX  TABLES .................................................................................................... 68  
 
CHARTS 
 
Chart 1.1 Product composition of merchand ise trade, by HS se ction, 2007 and 2011  ................. 14 
Chart 1.2 Merchandise trade, by main partner, 2007 and 2011 ............................................... 15 
Chart 3.1 Frequency distribution  of MFN tariff  rates,  2012...................................................... 29 
Chart 3.2 Tariff escalation by ISIC 2-digit in dustry, 2012 ....................................................... 31 
Chart 4.1 Rice production, area, and yield, 1980-11 .............................................................. 46 
Chart 4.2 Banana production, area, and yields, 1980-11 ........................................................ 47 
 
TABLES 
 Table 1.1 Economic indicators , 2006-12 ............................................................................... 8
 
Table 1.2 Government revenue from oil, bauxite, and gold production , 2006-11  ....................... 11 
Table 1.3 Balance of payments, 2006-12 ............................................................................. 12 
Table 3.1 Structure of th e tariff sch edule,  2012 .................................................................... 29 
Table 3.2 Summary analysis  of the MFN tariff, 2012.............................................................. 30 
Table 3.3 Membership in intellectual property protection  treaties , 2013 ................................... 40 
Table 3.4 Overview of IPR protecti on, 2012  ......................................................................... 41 
Table 4.1 Production of selected commodities, 2005-11 ......................................................... 43 
Table 4.2 Exports and imports of selected agricultural products, 2007-11 ................................. 44 
Table 4.3 Fisheries production, 2003-10 .............................................................................. 48 
Table 4.4 Fishing fleet, 2006-12 ......................................................................................... 49 
Table 4.5 Trade in fish and fish products, 2007-11 ................................................................ 49 
Table 4.6 Production of minerals, 2004-10 ........................................................................... 51 
Table 4.7 Structure of the banking system ........................................................................... 54 
Table 4.8 Distribution of bank  credit, by se ctor, 2006-10 ....................................................... 55 
Table 4.9 Banking prudential regulations, Fe bruary 2012 ....................................................... 56 
Table 4.10 Insurance indicators, 2005-11 ............................................................................ 58 
Table 4.11 Selected telecommuni cation indica tors, 2006 -11 ................................................... 59 
Table 4.12 Import and export of full  containers, Nieuwe  Haven, 2005-10 ................................. 60 
Table 4.13 Time, cost, and competiveness of ports in Suriname and selected CARICOM 
countries ..................................................................................................................... ... 61 
Table 4.14 Bilateral air transport agreements ....................................................................... 63 
Table 4.15 Tourism statistics, 2004-10 ................................................................................ 64 
Table 4.16 Origin of tourists, 2006-10 ................................................................................. 64 
 
APPENDIX TABLES 
 Table A1. 1 Merchandise exports, by HS section and ch apter, 2007-11 .................................... 68
 
Table A1. 2 Merchandise imports, by HS section and ch apter, 2 007-11  .................................... 69 WT/TPR/S/282/Rev.1 • Suriname  
 
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  Table A1. 3 Merchandise exports,  by trading pa rtner, 2007-11 ............................................... 71 
Table A1. 4 Merchandise imports,  by trading pa rtner, 2007-11 ............................................... 72 
 
Table A3. 1 Import rest rictions, April 2004 .......................................................................... 73 
Table A3. 2 Trade restrictions and licensin g requirements on exports, April 2004 ...................... 75 
Table A3. 3 Overview of public se ctor foundations and enterprises .......................................... 76 
 WT/TPR/S/282/Rev.1 • Suriname  
 
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  SUMMARY 
1. Suriname has a small open economy which has seen both trade and GDP increase each year 
over the six years to 2012, as total GDP and GN I per capita nearly doubled to US$5,173 million 
and US$9,321 respectively. The country has large mineral reserves and the economy is dominated 
by the production and export of gold, bauxite/al umina, and fuel, which together make up over 
90% of exports. 
2. Government policy for development generally, including trade and sectoral policies, is set 
out in the Ontwikkelingsplan, 2012-2016, w h i c h  i s  t h e  m o s t  r e c e n t  i n  a  s e r i e s  o f  d e v e l o p m e n t  
plans, and emphasises economic diversification an d export growth as crucial for development and 
reducing risk from external  shocks to the economy. 
3. Monetary policy in Suriname is focused on maintaining the exchange rate against the dollar, 
which, since a 20% devaluation in January 2011, has been set at SRD 3.25 to 3.35 to the 
U.S. dollar. With a large proportion of bank deposits and loans in U.S. dollars the Central Bank has increased reserve requirements for foreign curre ncy deposits in order to improve prudential 
requirements. Although the Government has had a fiscal surplus for most of the past few years, 
the revenue base is quite narrow with 30% of revenue coming from the gold, bauxite, and oil sectors exposing it to fluctuations in international prices for these commodities.  
4. Trade is important to the economy with import s and exports the equivalent to 100% of GDP. 
Suriname has a surplus on trade in goods that is greater than the deficit in trade in services. Since 2007, exports of goods have increased considerably, and the structure has changed somewhat as gold has replaced bauxite/alumina as the main expo rt while exports of fuels have also increased in 
importance. Although minor in terms of total expo rts, the growth in exports of bananas and rice 
kept pace with the general growth in trade. Imports are more broadly based than exports, 
although petroleum oils (mostly refined products not produced in Suriname) make up a quarter of 
imports and machinery and electrical equipment another fifth. 
5. In terms of the destination of exports, over  the period 2007-11 exports to Europe have 
shrunk from nearly half to about one quarter of total exports while exports to the Middle East 
increased from almost zero to a quarter. The sources of imports have not changed to the same 
extent as the destination of exports, although th e share of imports from the United States and the 
EU declined while that of Trinidad and Tobago increased. 
6. Suriname is the only Dutch-speaking member of CARICOM and one of the few members that 
is not an island State. Suriname has adopted the CARICOM common external tariff, with a few 
exceptions as provided for under the Revised Treaty of Chaguaramas, and is party to the Community's international agreements, including its regional-trade agreements and the 
CARIFORUM-EU Economic Partnership Agreement. The application of the common external tariff 
means that the average MFN tariff is below the av erage bound tariff in Suriname's WTO Schedule. 
However, for about 9% of tariff lines, the applie d MFN tariff is above the bound rate. The tariff 
lines affected are some agricultural products, particularly some tariff lines for tobacco products and 
alcoholic beverages. The application of tariffs above the bound rate was the subject of a request by Suriname for negotiations under Article XVIII of GATT. To deal with under-valuation of imported 
goods, the tariffs on some products, such as ci garettes and alcoholic beverages, are applied as 
specific duties. 
7. In a number of areas related to trade and investment, the legal framework would benefit 
from being updated, including the Investment Law of 2001, and a general customs act could 
update and consolidate existing legislation on customs administration, some of which dates from 
1908. The authorities intend to prepare new le gislation, and they are modifying customs 
procedures in other ways, such as through th e adoption of ASYCUDA ++ as a customs data 
system.  
8. Another area where the existing legal framework could be improved is intellectual property 
as much of the existing legislation dates from  1912 and 1913. A new intellectual property act was 
prepared in 2001 but was not passed by the National Assembly. Furthermore, in some cases, such 
as contingency measures and competition policy, there is no specific legislation. Certain aspects of 
these issues are covered under other laws but they would benefit from comprehensive dedicated legislation, and from institutional reform to support and enforce the laws. WT/TPR/S/282/Rev.1 • Suriname  
 
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  9. Reforms have been implemented, in some areas. For example, the Suriname Standards 
Bureau was established in 2007 under a law introduced in 2006, and a number of national standards have been established, and CARICOM standards adopted. Although the legislation on SPS has seen little change, a programme to improv e the food control system has been started and 
other changes are envisaged. 
10. Suriname has considerable potential to increase agriculture production and there has been 
some foreign investment in palm oil and forestry  production. After minerals, bananas and rice are 
Suriname's main exports, and production and trad e of both products increase considerably over 
the six years to 2012. The state-owned banana producer, SBBS, recovered from a collapse in production in 2000 to reach record levels of production by 2011. With the exception of bananas, most agricultural production is on small farms and faces a number of constraints, including poor 
infrastructure, inadequate research and developmen t, and poor plant and animal health services. 
In addition, the outdated land tenure system acts as a disincentive to investment and restricts producers' access to credit. Government policy is focused on improving infrastructure, extension 
services, and research and development. 
11. Production of minerals, oil refining, and alumina production are very important to the 
economy. In the oil sector, the state-owned Staatsoli e is a vertically integrated enterprise covering 
exploration to extraction, refining, export, and do mestic retailing for petroleum products. It also 
produces electricity for the state-owned electricity company, Energiebedrijven Suriname. Staatsolie has the sole right to explore for and exploit all hydrocarbons in Suriname, although it may do so through joint ventures with foreign oil companies.  
12. Bauxite production and alumina refining have been in decline in the past few years as 
current resources are being exhausted, although there are plans to open new mines in different areas. Bauxite is refined in Paranam using electricity from the Afobaka hydroelectric plant, which 
was built and is operated by Suralco. In addition to providing electricity for refining alumina, it also 
provides electricity to Energiebedrijven Suriname.  
13. The gold sector is divided between the Rosebel Gold Mine and a large number of small 
producers who are effectively untaxed and unregulated despite official efforts to organize them. All 
gold from the Rosebel Gold Mine is exported for final refining in Canada, with a royalty of 2.25% reserved for the State of Suriname. Although the small producers bring some benefits to the country and the economy, the production method s used can lead to environmental degradation 
while not being very efficient in extracting gold. 
14. Of the nine banks operating in Suriname, the St ate wholly owns three, has a majority stake 
in one, and a minority stake in another. The three wholly-owned banks were established to provide 
financial services to specific sectors and/or to address social objectives. The Central Bank's 
supervision of the sector was enhanced in 2011 by the Banking and Credit System Supervision Act. Suriname was affected by the collapse of the CL Financial Group in Trinidad and Tobago in 
2009 which made the insurance company CLICO-Suriname insolvent and led to its operations 
being taken over by Self Reliance Insurance, which is 40% state-owned.  
15. Most imports of goods into Suriname arrive at Nieuwe Haven in Paramaribo, which has been 
operated by a private company since 2010. The state-owned N.V. Havenbeheer Suriname, which is 
legally responsible for operating the port (along with Nieuw Nickerie) now acts as a developer, 
supervisor, and regulator. Investments in the port facilities have considerably reduced the time needed for ports and terminal handling. 
16. Suriname has enjoyed several years of economic growth, supported by strong prices for its 
main exports. However, its growth and prosperity, along with Government revenues, are based on a narrow range of products. The authorities are aw are of the need to diversify, and successive 
national plans have identified various sectors for development as well as the challenges facing the 
economy. In some areas the necessary legislat ion has not been implemented even though, in 
some cases, it has been prepared and submitted to the National Assembly. Furthermore, passing 
new laws would only be a first step towards reform, as implementing legislation and institutional 
reform would be required to apply the law. At the same time, Suriname has considerable potential 
for further economic growth, not only in minerals but also in tourism, agriculture, and as a regional gateway for goods and services.  
 WT/TPR/S/282/Rev.1 • Suriname  
 
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  1  ECONOMIC ENVIRONMENT 
1.1  Overview 1.1.  Suriname encompasses a landmass of 163,830 square kilometres, and its population was 
estimated at 539,912 in 2011, with an average annual expansion rate of 1.37%. Paramaribo is the 
capital and the most densely populated city (250,000 people). 
1.2.  With a GNI per capita estimated at US$9,321 in 2012, Suriname is an upper middle-income 
country. It falls into the medium human development category (ranking 104
th out of 187), given a 
Human Development Index (HDI) estimated at 6.08 in 2011.1  
1.3.  Suriname's economy is broadly open. Therefore, the external sector remains an important 
determinant for its performance. Imports and expo rts averaged some 100% of its GDP during the 
review period. Furthermore, 90% of its export income is based on alumina, gold, and oil. As a 
consequence, the economy remains vulnerable to external shocks, mainly to global commodity 
price fluctuations. Mining activities comprise  the main operations for government-related 
commercial activities, and they attract most of the foreign investment. 
1.4.  Services constitute the main economic sector in Suriname, accounting for over 60% of GDP; 
wholesale and retail trade are the dominant services activities (Table 1.1). The manufacturing sector (dominated by food processing and bauxite refining) is also a notable contributor to the 
economy. Despite its minor share in the national output, agriculture, including fishery, remains 
important, particularly for employment and foreign earnings. 
Table 1.1 Economic indicators, 2006-12 
 2006  2007  2008  2009a 2010a 2011a 2012a 
Gross domestic product (GDP)        
Current GDP at market prices 
(SRD million) 7,206  8,061  9,698  10,638  11,989 14,067 16,812  
Current GDP at market prices 
(US$ million) 2,664  2,975  3,579  3,925  4,424 4,366 5,173  
Real GDP, growth rate (%) 5.8 5.1 4.1 3.0 4.1 4.7 4.0 
Per capita GNI (current US$) 4,768  5,849  6,962  7,500  8,130 7,587 9,321  
National accountsb (% of current GDP) 
Final consumption 52.5  46.9 51.0 49.7 49.5 .. ..  
Household consumption 
expenditurec 39.8 36.8 40.1 36.6 36.1 .. .. 
General government 
consumption expenditure 12.7 10.1 10.9 13.1 13.4 .. ..  
Gross capital formation 40.2 46.2 44.3 50.0 36.4 .. .. 
Gross fixed capital formation 38.0  42.3 45.5 46.9 37.7 .. ..  
Changes in inventories 2.1 3.9 -1.2 3.1 -1.3 .. .. 
Exports of goods and services 52.7  54.1 56.9 43.9 52.8 .. ..  
Exports of goods 43.7 45.4 48.8 36.5 47.1 .. .. 
Exports of services 9.0  8.7 8.1 7.5 5.6 .. ..  
Imports of goods and services 45.4 47.3 52.3 43.6 38.6 .. .. 
Imports of goods 35.0  36.3 40.6 36.2 32.5 .. ..  
Imports of services 10.4 11.0 11.7 7.4 6.0 .. .. 
GDP by economic activities (% of current GDP) 
Agriculture, hunting, and forestry 6.2 6.8 6.7 7.7 7.2 6.5 .. 
Fishery 4.0  3.6 2.4 2.3 2.4 2.4 ..  
Mining and quarrying 7.6 7.2 7.5 7.1 7.2 6.8 .. 
Manufacturing 23.2  23.5 25.3 20.3 21.0 21.4 ..  
Electricity, gas and water supply 1.4 1.7 1.9 2.1 2.2 2.2 .. 
Construction 4.9  4.8 5.5 5.0 4.9 4.8 ..  
Wholesale and retail trade 16.1 16.1 18.1 19.7 19.4 19.0 .. 
Hotels and restaurants 2.8  2.4 2.0 2.6 2.6 3.2 ..  
Transport, storage, and 
communication 7.0 6.1 6.2 6.1 6.2 6.2 .. 
Financial intermediation 5.4  5.2 4.6 4.6 5.0 5.0 ..  
                                               
1 UNDP (2011). WT/TPR/S/282/Rev.1 • Suriname  
 
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   2006  2007  2008  2009a 2010a 2011a 2012a 
Real estate, renting, and business 
activities 3.3 3.9 2.8 3.0 3.1 3.1 .. 
Public administration 3.6  3.8 3.8 4.3 4.3 4.3 ..  
Education 3.2 3.3 2.9 3.6 3.5 3.4 .. 
Health and social work 3.0  3.0 2.7 2.9 3.2 3.0 ..  
Other community, social, and 
personal services 0.6 0.5 0.6 0.6 0.6 0.6 .. 
Taxes less subsidies on production 7.6  8.0 6.8 8.2 7.1 8.2 ..  
GDP by economic activities (year-on-year growth based on  constant GDP at 2007 prices) 
Agriculture, hunting, and forestry 4.7  15.5 -1.8 35.1 -1.5 4.3 ..  
Fishery 10.9 -9.4 -22.1  19.6 6.7 4.2 .. 
Mining and quarrying 9.1  11.8 4.1 -13.3  5.3 2.9 ..  
Manufacturing 3.0 1.9 9.1 -11.4  6.4 8.0 .. 
Electricity, gas, and water supply 9.7  5.2 10.9 -1.3 8.6 4.3 ..  
Construction 6.5 3.1 8.3 6.7 4.5 4.5 .. 
Wholesale and retail trade 15.1  7.0 2.4 19.8 4.5 3.0 ..  
Hotels and restaurants 13.9 -0.9 3.0 3.4 7.1 12.0 .. 
Transport, storage, and 
communication -0.3 3.3 18.8 0.2 3.6 7.6 ..  
Financial intermediation 2.8 9.1 -0.2 4.3 5.7 5.6 .. 
Real estate, renting, and business 
activities 3.0 11.7 -6.6 0.3 -2.4 2.8 ..  
Public administration -11.3  4.4 6.1 3.3 2.1 2.6 .. 
Education 2.6  1.5 -3.1 -3.5 2.4 -2.4 ..  
Health and social work -0.8 1.2 0.8 2.1 2.4 -6.0 .. 
Other community, social, and 
personal services 7.9 24.3 43.2 -12.7  -1.8 5.6 ..  
Taxes less subsidies on production 9.1 6.0 3.9 3.3 4.2 4.6 .. 
Prices and interest rates        
Consumer price index (% change 
to same month previous period, 
end of period) 4.7 8.3 9.4 1.3 10.3 15.3 4.4 
Average interest, deposit rate (%) 6.6  6.3 6.4 6.2 6.2 6.6 7.0  
Average interest, lending rate (%) 15.3 12.9 11.7 11.6 11.8 11.7 11.8 
Stock of net foreign assets Central 
Bank (SRD million) 684 1,145  1,725  1,571  1,669 2,604 2,977  
Exchange rate        
Exchange rate, claims/banknotes 
bought (SRD per US$)d 2.71 2.71 2.71 2.71 2.71 3.22 3.25  
Fiscal policy (% of current GDP) 
Revenues ..  .. 24.3 27.7 21.7 25.1 ..  
Tax revenues .. .. 17.4 17.2 15.7 19.0 .. 
Direct tax ..  .. 8.6 9.1 8.1 9.5 ..  
Indirect tax .. .. 8.7 8.2 7.6 9.4 .. 
Non-tax revenues ..  .. 4.4 7.1 4.8 5.4 ..  
Income from state owned 
enterprises .. .. 1.9 4.7 1.9 3.0 .. 
Old age contribution ..  .. 0.6 0.7 0.7 0.7 ..  
Other non-tax revenues .. .. 1.8 1.7 2.3 1.7 .. 
Capital ..  .. 0.0 0.0 0.0 0.0 ..  
Grants .. .. 2.5 3.3 1.2 0.8 .. 
Expenditures ..  .. 22.8 26.9 24.7 25.2 ..  
Current expenditures .. .. 18.0 21.2 20.0 20.3 .. 
Wages and salaries ..  .. 7.8 9.1 9.0 8.6 ..  
Other goods and services .. .. 5.0 6.1 5.7 5.2 .. 
Subsidies ..  .. 4.5 4.7 4.5 5.5 ..  
Interest .. .. 0.6 1.3 0.9 1.0 .. 
Capital ..  .. 4.8 5.7 4.6 5.0 ..  
Net lending .. .. 0.0 0.0 0.0 0.0 .. 
Surplus/deficit ..  .. 1.5 0.8 -2.9 -0.1 ..  
Other/statistical discrepancy .. .. 0.2 -2.9 0.4 -1.8 .. 
Memorandum        
Population ('000 persons) 504.3  510.0  517.1  524.1  531.2 539.9 534.2  
Labour force ('000 persons) 135.9  138.6  139.8  139.9  142.1 .. ..  
Unemployment rate (%) 12.3 10.7 9.4 9.0 7.6 8.0 .. WT/TPR/S/282/Rev.1 • Suriname  
 
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   2006  2007  2008  2009a 2010a 2011a 2012a 
Total external debt (SRD million)e 1,086  828 888 748 930 1,551 1,890  
Total external debt (% of GDP) 15.1 10.3 9.2 7.0 7.8 11.0 11.2 
.. Not available. 
a Preliminary data. 
b Data from CARICOM online information. Viewed at: http://caricomstats.org/natacct.html . GDP for 
the year 2010 does not correspond to GDP provided by the Central Bank. 
c Includes non-profit institutions serving households (NPISH). d Period average rate for claims and/or banknotes bought. e According to international practice. 
Source:   Central Bank of Suriname, General Bureau of  Statitsics in Suriname ; Caribbean Community 
(CARICOM) Secretariat;  and data prov ided by the Suriname authorities. 
1.5.  Relatively poor infrastructures, burdensome procedures, including the complexity of the 
legislative process, and the lack of effective econ omies of scale contribute to high costs of doing 
business, and are responsible for the undiversified economy. 
1.2  Recent Economic Developments 1.6.  Suriname's Multi-annual Development Plan ( Ontwikkelingsplan 2012-2016 Suriname in 
transformative, Republiek Suriname ) lays down the development blueprint for the medium term. It 
gives special consideration to: rationalizing the public sector, increasing earning capacity through advantageous mining contracts, exploiting potential for tourism, and promoting entrepreneurship with a focus on export.
2 The previous plan covered 2001-2005. While no formal assessment was 
made, the authorities stated that the private-sector associations supported the plans. 
1.7.  The recent developments in Suriname's economy have been tightly connected to the 
performance in mining (as the sector has strong knock-on effects on manufacturing), and services 
(transport, banking). Since 2005, economic grow th has been strong and relatively steady, 
averaging 5% until 2008, driven mainly by favourable price conditions for gold, bauxite, and alumina. In 2009, depressed demand for commodities and their low prices in the international 
markets led to lower GDP growth. At the sectoral level, mining and manufacturing showed 
negative growth rates of 13.3% and 11.4%, resp ectively. Transport and communication, which is 
the main component of services, also register ed slow growth (0.2%) compared with 2008 
(18.8%). 
1.8.  Since 2010, the economy has shown signs of recovery. This appears to be driven by 
favourable commodity prices and economic recovery in some industrial countries.  
1.9.   The main reforms have taken place within the framework of monetary and exchange rate 
policies conducted by the Central Bank of Suriname (CBvS), with the stability of the exchange rate 
as the main objective. In January 2011, the monetary authorities devalued the Suriname dollar (SRD) by 20% (from SRD 2.78 to SRD 3.35 per US$) in order to realign the official exchange rate 
with the parallel rate; a band of SRD 3.25-3.35 per US$ within which all transactions have to take 
place, was also established. The measure was geared at addressing the sharp depreciation of the Suriname dollar in the parallel market, and the subs equent widening of the spread with the official 
market rate, which appeared to have been caused by the Government's deteriorating fiscal 
position and uncertainties associated with the May 2010 elections.
3  
1.10.  The devaluation of the SRD played a part in pushing up the annual inflation rate in 2011 
(estimated at 15.3%). Increased import prices have also contributed to higher inflation.  
1.11.  Suriname's monetary and exchange rate po licies continue to face a number of challenges 
that underpin high transaction costs in its economy, and constitute a major obstacle for the private sector and for economic diversification. Inflation remains high and volatile, despite some progress 
during the review period. 
                                               
2 Government of Suriname (2012). 
3 IMF (2011).  WT/TPR/S/282/Rev.1 • Suriname  
 
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  1.12.  Another challenge for Suriname's monetary policy is the relative dollarization of the 
economy. Deposits in foreign currencies (mostly in U.S. dollars) remain high (over 50% of total deposits in 2009); in addition, foreign currency loans accounted for over 40% of total loans. With a view to containing banks' exposure to foreign currency, the Central Bank of Suriname has recently 
increased reserve requirements (the main monetary policy instrument) from 33% to 40% on 
foreign currency deposits. Efforts are under way to ensure that all goods traded in Suriname are 
priced in Suriname dollars. In the context of this review, the authorities indicated that the high 
inflation tradition in Suriname is the main source of the dollarization. 
1.13.  The Central Bank's financing of the Government's deficit has mostly stayed within the 
statutory ceiling established by the law (10% of the budgeted revenues for a fiscal year). 
1.14.  Suriname maintains a multiple currency prac tice (MCP), i.e. the spread between the buying 
and the selling rates in the official markets for government transactions may be more than 2% 
and, the spread between the official rates for government transactions and those in commercial 
markets may also be more than 2%. The authorities indicate that there is no short-term plan for 
rate unification. 
1.15.  Suriname's fiscal position has improved following good GDP growth performance, since 
2005; and GDP growth has provided room for increased tax collection. The government fiscal 
balance showed surpluses between 2006 and 2008, before a deficit of 2.9% of GDP in 2010 and 
0.1% in 2011. The sharp drop in Government revenues from the bauxite industry (lagged effect of its poor growth performance) was the main factor behind the deficits. The mineral sector, which is the main growth driver, is also a major contri butor to fiscal revenue. For example, SURALCO, 
Rosebel Gold mines, and Staatsolie, the three ma jor mining companies, accounted for an average 
of over 30% of total fiscal revenues in 2008, with declining annual contributions from bauxite industries. Bauxite has traditionally been an important source of income for the Government. 
However, since the last Review of Suriname, oil has become more important in this respect and 
the importance of gold is increasing (Table 1.2).
4  
Table 1.2 Government revenue from oil,  bauxite, and gold production, 2006-11 
 2006 2007 2008 2009 2010 2011 
Gold revenues (US$ million) 27.0 20.1 75.6 81.0 126.2 123.3 
Bauxite revenues (US$ million) 44.0 87.4 47.21 18.2 5.2 18.1 
Oil revenues (US$ million) 43.5 96.9 180.7 202.2 146.3 245.4 
Total contribution       
US$ million 114.6 204.5 303.5 301.3 277.7 386.7 
% of GDP 4.3 6.9 8.5 7.7 6.3 8.9 
% of total revenue 17.9 23.5 35.1 27.8 29.0 35.5 
Source: Ministry of Finance,  General Bureau of Statis tics, Central Bank of Suriname edited by National 
Planning Office.  
1.16.  Under the responsibility of the Ministry in  charge of finance, Suriname's fiscal policy has 
undergone a number of reforms geared at, inter alia , reining in the fiscal deficit, as well as 
reducing the share of recurrent expenditures. In  order to increase revenue, the Government has 
increased taxes on fuel, alcohol, tobacco, and casinos; it intends to reactivate motor vehicle tax; and it plans to widen the base of sales tax.
5  
1.17.  Public spending has increased as a result  of civil service wage reforms. In addition, 
increased subsidies to some economic sectors, as corrective measures for the 2011 devaluation, have contributed to the rise in fiscal deficits. 
1.18.  During the review period, Suriname's over all balance of payments remained positive (with 
an increasing trend between 2006 and 2009) due, in  large part, to the surplus in the balance of 
trade in goods and current transfers, which exc eeded the deficits in the balance of trade in 
services and the income balance (Table 1.3). However, the main components of Suriname's 
balance of payments remain volatile as they depend on a narrow range of commodities. The 
                                               
4 IMF (2010).  
5 IMF (2011). WT/TPR/S/282/Rev.1 • Suriname  
 
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  financial account has also shown large changes over time, as FDI inflows depend on investment 
projects in the mining sector.  
Table 1.3 Balance of payments, 2006-12 
(US$ million) 
 2006  2007  2008  2009  2010 2011 2012a 
A. Current account 221  325 325 111 651 251 241  
Balance on goods 272 314 337 11 686 788 781 
Exports 1,175  1,359  1,744  1,402  2,084 2,467 2,563  
Imports -903 -1,045  -1,407  -1,391  -1,398 -1,679 -1,782  
Balance on services -33  -65 -123 1 -18 -362 -419  
Credit 237 253 284 287 241 201 175 
Transportation 25  20 19 19 31 22 28  
Other 212 233 265 268 210 179 147 
Debit -269  -318 -407 -285 -259 -563 -594  
Transportation -63 -66 -90 -63 -73 -102 -96 
Other -206  -252 -317 -222 -186 -461 -498  
Balance on income -55 -3 20 5 -104 -262 -194 
Credit 25  44 42 30 26 16 27  
Debit -80 -46 -22 -25 -130 -278 -221 
Balance on current transfers 36  77 91 94 87 87 73  
Credit 74 140 141 147 142 159 146 
Debit -38  -62 -51 -53 -55 -72 -73  
B. Capital account 19 8 32 87 54 35 -7 
Credit 19  8 32 88 54 35 1  
Debit 0 0 0 -1 0 0 -8 
C. Financial account (excluding 
financing items) -256  -366  -48 -141  -502 -85 321  
Direct investment -163 -247 -231 -93 -248 73 69 
Abroad 0  0 0 0 0 3 -1  
In reporting economy -163 -247 -231 -93 -248 70 70 
Portfolio investment assets 0  0 -15 -10 -2 6 1  
Equity securities 0 0 0 0 0 0 0 
Debt securitiesb 0  0 -15 -10 -2 6 1  
Portfolio investment liabilities 0 -1 -2 -1 -10 0 0 
Debt securities 0  -1 -2 -1 -10 0 0  
Other investment assets -89 -37 194 -149 -289 -483 235 
Monetary authoritiesb -31  -5 -13 -16 1 -58 74  
Banksb -65 -110 37 -137 -11 -77 -108 
Other sectors 7  78 169 4 -279 -348 268  
Other investment liabilities -3 -81 7 112 47 320 17 
Monetary authorities 1  0 0 126 -3 -1 -2  
General government c -29 -98 12 -6 66 121 95 
Banks 25  21 -2 -5 3 -2 10  
Other sectors 0 -4 -3 -4 -19 201 -85 
D. Net errors and omissions 80  180 -100  -19 -168 -77 -376  
E. Financing items -64 -146  -208  -39 -35 -124 -180  
Reserve assetsd -64  -146 -208 -39 -35 -124 -180  
Memorandum items        
Current account (as % of GDP) 8.3  10.9 9.1 2.8 14.7 5.8 4.7  
Gross international reserves 
(US$ million) 237 403 603 657 691 817 1,008  
Gross international reserves (in months 
of imports of goods and services) 2.4 3.6 4.0 4.7 5.0 4.4 5.1  
a   Preliminary data. 
b   Revised data due to expanded  coverage and reclassification. 
c   Data from the Suriname  Debt Management Office. 
d   Valuation changes are excluded. A minus sign denotes an increase in reserves. 
Note:  Starting in 2011, data has been subject to expanded coverage and reclassification (surveys and 
additional reports/methods were introduced and were also proc essed in compiling balance of 
payment data). Therefore, 2011-12 data cannot be compared to 2006-10 data. 
Source:   Central Bank of Suriname.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  1.19.  Gross international reserves grew co ntinuously during the review period, from 
US$237 million in 2006 (2.4 months of imports of goods and services) to US$1,008 million in 2012 (5.1 months of imports of goods and services). 
1.20.  Since 2007, Suriname has taken advantage of its robust output growth and favourable fiscal 
position to significantly reduce its debt stock. While its debt-to-GDP ratio was 37% of GDP in 2005, 
due to clearance of debt arrears that had accumulated since 1990, it is currently around 19%. 
1.21.  According to the Central bank, output grow th is projected to reach annual rates of 5% to 
7% in the medium term. Growth will be driven by significant FDI and domestic private investments 
in gold and bauxite mining, as well as in large-scale infrastructure, including utilities, roads, and port facilities. In addition, large private investments are under way in the mining sector (such as a new refinery and investments in the new bauxite and gold mines in Eastern Suriname). The 
planned investments in the power sector will incr ease the current energy supply of about 355 MW 
to 525 MW by 2015. Suriname has also begun exploratory tests in what is believed to be the world’s second largest unexplored oil reserves off its shared coastline with Guyana and French 
Guiana. 
1.3  Developments in Trade 1.22.  During the review period, Suriname's current account remained in surplus, due to the 
relatively good performance of its merchandise exports. However, the deficits in its services 
balance increased dramatically between 2010 and 2012, due to large imports of transport and 
engineering services for its mining companies (Table 1.3).  
1.23.  Trade in goods and services averaged some 100% of the GDP between 2007 and 2010, of 
which trade in goods accounted for over 75%. The share of Suriname's trade in total world trade 
remained low, at an average of 0.01% over the same period. 
1.24.  Based on HS trade data provided by the authorities, Suriname's export structure consists 
mostly of primary products, in particular precious stones, mineral products, and chemicals. The 
broad composition of imports remained stable  during the review period (Chart 1.1 and 
Table A1.1). Exports of alumina decreased over the review period relative to the shares of gold 
and oil. Exports of agricultural products consist mainly of food products like rice, shrimp, fish, and 
bananas. 
1.25.  Imports are more diversified. The main import products consist of machinery, electrical, and 
transport equipment, together with mineral prod ucts and foodstuff (Chart 1.1 and Table A1.2). 
1.26.  The American market is the main destination for Suriname's export products. Canada, the 
United States, Guyana, and Barbados are the lead ing export markets in America (Chart 1.2 and 
Table A1.3). Europe and the Middle East are also significant export destinations. 
1.27.  Providing nearly 60% of total imports during the review period, the American continent 
remains Suriname's main import source, with the United States and Trinidad and Tobago leading the way (Chart 1.2 and Table A1.4). Europe, mainly the Netherlands, is also a significant source of 
imports, although its imports have been on decreasing trend since 2007. WT/TPR/S/282/Rev.1 • Suriname  
 
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  Chart 1.1 Product composition of merchandise trade, by HS section, 2007 and 2011 
2007 2011
(a)    Exports 
Total:   US$1,361 million Total:  US$2,478 mi llion  
(b)    Imports 
Base metals & 
articles thereof
9.1% (XV)Chemicals & 
products thereof
6.9% (VI)Machinery; electrical 
equipment
1.7% (XVI)
Base metals &
articles thereof
7.3%  (XV)
Total:   US$953 million Total:   US$1,430 million Chemicals and 
products thereof
49.7% (VI)
Other 
15.8%Pearls, precious 
stones & metals
34.8% (XIV)
Other
13.8%Live
animals
3.1% (I)
Transport 
equipment
7.2% (XVII)Mineral products
11.8%  (V)Other
2.1%Live animals
2.6% (I)
Chemicals & 
products thereof 
7.9% (VI)Transport 
equipment
9.1% (XVII)Mineral 
products
19.0% (V)Chemicals & 
products 
thereof
17.9% (VI)Machinery; electrical 
equipment
0.6% (XVI)
Live
animals
2.9% (I) Prepared foodstuff, 
beverages & tobacco
9.2% (IV)Prepared foodstuff, 
beverages & tobacco
8.2% (IV)
Mineral 
products
27.1% (V)
Machinery; electrical 
equipment
23.3% (XVI)Machinery; 
electrical 
equipment
19.2% (XVI)
Plastics & 
rubber
5.4% (VII)Plastics & rubber
5.6% (VII)Vegetable products
2.5% (II)
Mineral products
7.8% (V)Live animals
1.5% (I)
Vegetable products
2.7% (II)
Pearls, precious 
stones & metals
61.78% (XIV)Other
2.6%
 
Note: Data in brackets refer to the HS Section number.  
Source: WTO calculations, based on data provided by the Suriname authorities. 
 WT/TPR/S/282/Rev.1 • Suriname  
 
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  Chart 1.2 Merchandise trade, by main partner, 2007 and 2011 
2007 2011
(a)    Exports
Total: US$1,361 million
(b)    Im ports
Total: US$953 m illion Total: US$1,430 millionTotal: US$2,478 millionBarbados
1.8%Others
4.9%United States
11.7%
Canada
18.6%
Other 
America
11.8%EU (27)
20.2%
Trinidad and 
Tobago
18.3%Asia
1.2%
AmericaUnited States
10.7%
Other America
9.3%
EU (27)
13.1%Asia
0.9%Others
3.9%
America
United States
22.6%
Other America
10.8%EU (27)
27.5%Other Europe
0.4%Japan
4.3%
China
7.4%Other 
Asia
4.8%Others
0.4%
United States
20.3%
Brazil
3.2%Other 
America
12.8%EU (27)
20.0%Other Europe
0.6%China
7.8%Other 
Asia
4.5%Others
0.9%
America
America Europe EuropeAsia AsiaCanada
22.2%
Japan
3.3%Barbados
3.9%
Brazil
3.5%EuropeEFTA
26.1%
Europe
EFTA
13.5%Middle East
26.1%Middle East
0.1%
Trinidad and 
Tobago
26.6%
 
Source: WTO calculations, based on data provided by the Suriname authorities. 
1.4  Developments in Investment 
1.28.  Suriname's foreign direct investment (FDI) performance is above the average performance 
in Latin America and Caribbean.6 However, macroeconomic instability and the poor legal and 
regulatory environment are considered to be the main challenges. According to the World Bank, 
                                               
6 ECLAC (2012).  WT/TPR/S/282/Rev.1 • Suriname  
 
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  Suriname ranks 164th (161st in 2011) out of 185 economies for ease of doing business. Starting a 
business in Suriname requires an average of 694 days and 13 different administrative procedures.7 
1.29.  The mining sector remains the top destination for FDI in Suriname. However, Suriname 
registered considerable disinvestment during the review period. Postponed capital investments in 
the bauxite sector, due to depressed commodity ma rkets, together with the withdrawal of BHP 
Billiton, an Anglo-Australian mining firm8, in 2010 appear to be behind the negative FDI 
performance. The situation improved as from 2011 with a positive FDI flows. According to 
UNCTAD's World Investment Report 2012 Suriname has not made any cross-border investments. 
1.30.  In recent years, Chinese investors have been active in Suriname. For example, China Zhong 
Heng Tai Investment is set to restart the Patamacca palm oil industry. A US$600 million Chinese investment project is being implemented for construction of port and road infrastructure.
9 In 
forestry, concessions have been given to Sino Forest and Greenheart.10 
1.31.  The United States, Canada, China, and the Netherlands are Suriname's main sources of FDI. 1.32.  The Government sees infrastructure, roads, bridges, transport facilities, and 
telecommunications as the most important factors to attract investors. The Government expects 
FDI to stay predominantly in mining and energy, but also to develop in agriculture, timber, tourism, and other services. 
1.33.  A new Investment Law has been under development since 2004. The long delay is 
attributed to the complex legislative process and the lack of private sector support for the main provisions contained in the Bill.
11 As a consequence, the Investment Law of 2001 remains in force. 
Sources have indicated that the 2001 law only provides fiscal incentives and fails to provide basic 
rights expected by international investors.12 Investment may be encouraged if other regulatory 
and institutional needs were addressed, such as competition, consumer protection, and intellectual property (Chapter 3). 
1.34.  The Government of Suriname pursues no economic or industrial strategies that are 
discriminatory to foreign investments, except in the oil sector. Access to the oil sector is possible only through exploration and production-sharing agreements with the State Oil Company.
13  
1.35.  Suriname has bilateral investment treaties with Indonesia.14 
 
 
                                               
7 World Bank (2013). 
8 Bauxite Institute online information. Viewed at: 
http://www.bauxietinstituut.com/Bauxietsectoralg.aspx . 
9 Agritrade online information. Viewed at: http://agritrade.cta.int/Agriculture/Commodities/Oil-
crops/Suriname-s-palm-oil-sector-to-be-rehabilitated . 
10 Global Timber online information. Viewed at: http://www.globaltimber.o rg.uk/suriname.htm.  
11 Suriname Trade and Industry Association online information. Viewed at: 
http://www.vsbstia.org/index.php?option=com_content&view=article&id=77&Itemid=29&lang=nl.  
12 European Commission (undated). 
13 Ministry of Trade and Industry (2010).  
14 U.S. Department of State (2012). WT/TPR/S/282/Rev.1 • Suriname  
 
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  2  TRADE POLICY REGIME: FRAMEWORK AND OBJECTIVES 
2.1  Introduction 2.1.  Since independence in 1975, the authorities have made continuous efforts to support 
Suriname’s long-term development goals with a stable legal policy framework. However, the 
improved economic performance and lower monetary volatility in more recent years has not led to 
a substantial change in the economic structure of Suriname. 
2.2.  Suriname’s trade policy has not changed fundamentally since its previous review. The 
Government’s approach to trade and trade liberalization still aims at improving efficiency and 
identifying Suriname’s strengths as a small, open economy with vast natural resources. In a changing and globalized environment, the authorit ies realize that in order to take advantage of 
increased market openings, economic diversification is key. In the context of eroding trade 
preferences and increased competition, opportuniti es are scarce, except in the minerals sector, 
and Suriname has recognized the need to enhanc e the position of the private sector. Improved 
licensing and standardization procedures and a transparent trade and investment climate are 
critical. 
2.3.  Suriname’s trade policy is influenced by its participation in the Caribbean Community 
(CARICOM) and the WTO, but development has been  hindered by limited human, technical, and 
financial resources. Despite attempts to improve the capacities of the responsible ministries, 
particularly in the Ministry of Trade and Indust ry, the problem of resource limitations persists. 
These constraints have also hindered Suriname 's active involvement in multilateral trade 
negotiations, although support is provided by the Caricom Office of Trade Negotiations (OTN, 
formerly the Caribbean Regional Negotiating Machinery), in various trade negotiations. 
2.4.  Suriname became a contracting party to the GATT in 1978, and is an original Member of the 
WTO. Suriname did not participate in the post-Uruguay Round negotiations on financial services or 
telecommunications, but it made commitments on basic telecommunications in 1998. Its 
participation in the WTO has focused on the agriculture negotiations where, for some products, the CARICOM common external tariff is higher than the bound tariffs in Suriname's Schedule. It has 
submitted several notifications to the WTO but others are pending, which reduces the transparency 
of its trade regime. The authorities argue that de veloping countries are, by nature, not able to 
submit all notifications because of the structure and accessibility of the WTO. Suriname has no 
WTO mission in Geneva. 
2.5.  Suriname joined CARICOM in 1995 and became a full member of the group’s common market 
in 1996. Suriname's negotiations in the FTAA and with the European Union are as part of CARICOM. As a CARICOM member, Suriname should adopt additional legislation in years to come 
in areas such as competition policy, anti-dumping, and consumer protection. The delayed 
implementation of the CARICOM Single Market and Economy (CSME), key to successful regional integration, poses a challenge in this respect.  
2.6.  During the period under review, some Su rinamese products continued to benefit from 
non-reciprocal trade preferences, but in practi ce the majority are traded under duty-free MFN 
conditions, reflecting the continued importance of mineral exports. Thus, apart from bananas and rice, Suriname’s dependence on such preferences is  relatively low, with the bulk of its exports 
(minerals) sold in essentially competitive markets. As a result, non-reciprocal trade preferences 
seem to have had a limited effect on domestic production patterns (rice and bananas being exceptions). Suriname appears to be well positioned to benefit considerably from efforts to 
liberalize trade and reduce distortions in global markets. Liberalization efforts could also set the 
stage for Suriname to expand its multilateral commitments in order to advance and anchor its domestic reform programme. 
2.7.  Limited measures continue to restrict some foreign investment, and, despite macroeconomic 
instability and a poor legal and regulatory system, net investment flows into Suriname have been positive in recent years. 
2.8.  Technical assistance from various sources seems to have been less important during the 
review period or at least mo re specific and focused.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  2.2  General Constitutional and Legal Framework 
2.9.  Suriname, a former colony of the Netherla nds, gained independence in 1975. The country’s 
political system is defined as a constitutional democracy. From independence until the early 1990s, the replacement of civilian governments by military  regimes marked a period of acute institutional 
and political instability and social unrest, which became major impediments to development. The 
Constitution of 30 October 1987, as amended in 1992, is the supreme law of the country.
1 The 
Constitution sets out the overall institutional framework for the formulation of legislation. The 
mandates of government departments are defined in a state ordinance issued in October 1999, 
and amended in 2002 and 2010.  
2.10.  The Executive Branch – the Government – includes the President, the Vice-President, and 
the Council of Ministers. It is led by the Presid ent, who is Head of State, Head of Government, 
Chairman of the State Council, and Chairman of th e Security Council. The President is answerable 
to the National Assembly. The Council of Ministers is the highest executive and administrative organ of the Government; its tasks are to pr epare and execute government policy, prepare 
legislative acts and regulations, supervise execut ion of decrees under its responsibility, and give 
direction to administrative organs. The President and Vice-President are elected by the National Assembly for five years.
2 The State Council advises the Government on the conduct of policy, as 
well as on agreements under international law, for which the consent of the National Assembly is 
required.  
2.11.  Article 70 of the Constitution defines that legislative power is exercised jointly by the 
National Assembly and the Government. The unicameral National Assembly consists of 
51 members elected simultaneously, by popular vote  and through proportional representation for a 
five-year term. The last elections were held in 2010. The National Assembly has the power to decide over all proposals of law, which are submitted to it for approval, and has the right to amend 
bills proposed by the Government. It also decides by  a two-thirds majority on the organization of a 
People’s Assembly or a plebiscite when it deems necessary. All bills passed by the National Assembly and approved by the President ac quire force of law after promulgation.  
2.12.  Apart from the Constitution, Suriname's public and administrative law comprises several 
legal instruments: formal laws
3; state decisions ( staatsbesluiten ); district regulations; Presidential 
decisions, and administrative decisions. The latter category comprises Presidential resolutions, ministerial decisions, and decisions of other administrative agencies. A decree ( decreet ) has the 
same legal force as a law. 
2.13.  Taxes, including tariffs, are levied by law. Tariff changes require the assent of the National 
Assembly.  
2.14.  The Court of Justice is the supreme inst ance of the Judicial Power entrusted with the 
administration of justice in Suriname. The Court supervises the regular course and settlement of all lawsuits. Lawsuits not arising from civil law relations may be referred, by law, to administrative 
judges. As a member of CARICOM, Suriname is  a party to the Agreement Establishing the 
Caribbean Court of Justice (CCJ). Since its inauguration in April 2005, the CCJ exercises both an appellate and an original jurisdiction.  Suriname adopted the original jurisdiction, which only 
regards the interpretation and application of the Revised Treaty of Chaguaramas. Suriname has 
not adopted the appellate jurisdiction of the CCJ, because of its civil law system. Within the 
appellate jurisdiction, the CCJ serves as the appellate court for civil and criminal matters of the member states. 
                                               
1 The rules of the Constitution of 25 November 1975, the application of which was suspended on 
13 August 1980, ceased to exist when the Constitution of 1987 became effective. 
2 The current President was elected in 2010 and serves until mid-2015. 
3 Responsibility for preparation of a first draft of a law rests with the Ministry that deals with the 
particular subject matter. Following review by the Mini stry of Justice, which has primary responsibility to 
ensure the quality of legislat ion, and other ministri es that may be concerned, the draft requires approval of the 
Council of Ministers, the State Council, and the National As sembly. After the President has ratified the law, it is 
published in Suriname's Official Gazette . WT/TPR/S/282/Rev.1 • Suriname  
 
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  2.3  Development and Administration of Trade Policy 
2.15.  Suriname’s trade policy is formulated within the context of its membership both of the 
CARICOM and the WTO, as well as existing trade arrangements with Europe and the Americas. Limited institutional capacity has traditionally hindered Suriname designing and implementing 
trade policy and conducting negotiations. The Ministry of Trade and Industry is the lead ministry in 
this respect, in consultation with other ministries and agencies.  
2.16.  Suriname’s trade policies and trade policy positions are to a large extent determined by the 
Government’s medium-term development policy objectives, as laid down in its 5-year development 
plans (OPs). These plans articulate the framework for development in the broadest sense: they are 
state documents, national guidelines for the Government, private sector, non-governmental organizations, and other social sectors. The docu ments provide insight into the long-range policy.
4  
2.3.1  Agencies involved in trade policy implementation 
2.17.  Although the Ministry of Trade (MTI) is the coordinating entity, no single ministry or 
government agency in Suriname is solely responsible for trade policy formulation. Apart from 
managing, monitoring, and coordinating Suriname’s  external trade relations, the MTI is charged 
with creating an enabling environment for exports, and other functions such as dissemination of information. In line with the OP 2012-16, MTI is expanding its activities. Among its new tasks are 
consumer protection, development of a national competition policy, improvement of the policy on 
and registration of standards, promotion of small and medium enterprise interests, and 
improvement of the business climate to ensure a be tter ranking on the World Bank’s ease of doing 
business list (currently 164 out of 185).
5 Moreover, the division of responsibilities within the 
Ministry now focuses on thematic areas such as market access for goods, agriculture, trade in 
services, investment, SPS, TBT, and rules of origin, for which horizontal consideration is required in the different trade organizations and negotiations in which Suriname participates. This 
arrangement replaced an organization centered on  "desks" that focused on tasks related to the 
WTO, CARICOM, and the CARIFORUM-EU EPA.  
2.18.  As a member of CARICOM, Suriname is committed to a regionally coordinated external 
trade policy for the group. The MTI therefore c oordinates closely with the relevant regional 
agencies on trade policy matters, including the Ca ribbean Regional Negotiating Machinery (RNM). 
2.19.  The Ministry of Foreign Affairs also plays a role in trade policy formulation, although it has 
traditionally taken the lead in matters related to WTO and other trade-related negotiations. In 
contrast to the MTI, which focuses on the econom ic and technical side of trade matters and is 
responsible for trade and investment agreements, the Ministry of Foreign Affairs works primarily 
with the political and diplomatic elements of Suri name’s various trade agreements. It is the only 
Ministry that has permanent representation abroad, with embassies, permanent missions and/or 
consulates in Belgium, Brazil, China, Cuba, Cu racao, France, French Guiana, Guyana, India, 
Indonesia, the Netherlands, South Africa, Trin idad and Tobago, the Bolivarian Republic of 
Venezuela, and the United States. It has six staff assigned to work on foreign trade matters, 
including the Ambassador in Paris who serves as the representative to the WTO. 
2.20.  The Ministry of Agriculture, Livestock and Fisheries is involved in the formulation of trade 
policy concerning agricultural products, mostly in the context of international negotiations. The 
Ministry coordinates with the Ministry of Health on sanitary and phytosanitary measures. It also 
remains in close contact with various state-owned enterprises in the agriculture sector and in international marketing of rice and bananas. The Ministry provides binding advice to MTI for the 
issue of licences and certificates for the import and export of animals, plants, fish, and products 
and parts thereof.  
2.21.  MTI coordinates with the Ministry of Finance on most if not all trade matters. The Ministry of 
Finance has direct involvement in trade and investment matters through its Directorate of 
Taxation, which is divided into direct and indirect  taxes. The controller of Customs is responsible 
for the enforcement of customs legislation, as well as cross-border movements, the Harmonized System, customs valuation procedures, and rules of origin. It maintains contacts with delegations 
                                               
4 Government of Suriname (2006). 
5 World Bank (2013). WT/TPR/S/282/Rev.1 • Suriname  
 
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  in the business community and participates in  consultations on CARICOM and the WTO. The 
interaction between the MTI and the Customs Depart ment is based on the MTI setting out policies, 
and the Customs Department assuming responsibility for their implementation.  
2.22.  The Central Bank of Suriname has responsibi lities in monetary policy and bank supervision. 
It works closely with the Ministry of Finance and the MTI on matters relating to trade and 
investment policy, on which the Central Bank advises on fiscal incentives, export financing, balance-of-payment analysis, and assessment of the potential impact of revenue loss resulting 
from the phase-out of preferential arrangements.  
2.23.  The National Planning Office is charged with the identification, formulation, development 
and coordination of plans that further the deve lopment and welfare of Suriname with focus on 
drafting the multi-annual development plans (OPs) and annual public sector investment plans. It 
provides a factual and mostly financial annual assessment of the realization of the OP targets per 
Ministry and policy field. According to the Planning Office, these assessments monitor the execution of policy objectives formulated in the OPs. Changes in government’s policies and actions 
are only made in future OPs. 
2.24.  The Chamber of Commerce is a privat e body, under public law, entrusted with 
the implementation of economic legislation, provis ion of trade information, and representation of 
industry interests. One of its main functions, in accordance with the Trade Register Law, involves 
maintaining the trade register, which contains specific information on all commercial organizations, with the exception of some small businesses. 
2.25.  Other private sector organizations relevant to trade and investment matters include the 
Suriname Business Forum; Suriname Business Center; the Investment and Development 
Corporation Suriname N.V.; the Association for Small and Medium Enterprises; the Association of Engineering Firms; the General Contractors Association; the NGO Forum; the Suriname 
Manufacturers Association; the Suriname Trade and Industry Association; the Women's Business 
Group Foundation; the Association of Rice Producers and Exporters Suriname; Consumers Organization; and the American Chamber of Commerce in Suriname. 
2.26.  As described by the authorities, in fulfilling its coordination role the MTI seeks participation 
from players with a direct stake in trade and ec onomic issues, bringing together representatives 
from different ministries, the Chamber of Commerce, and civil society. To improve coordination, the Suriname Business Forum, a public-private sector platform was set up in 2000, and became 
operational mid-2007. According to the authorities and the SBF leadership, the delay was due to a 
lack of committed members, a funding problem,  and a lengthy legislative procedure to get 
established. Persistent budgetary problems do not allow the SBF to operate effectively. According 
to some private-sector sources, the SBF is also not sufficiently equipped to allow input into 
regulatory proposals and decision.  
2.4  Trade Policy Objectives 
2.27.  Suriname has continued its path towards opening up the economy, which it recognized as 
relevant and important to its economic developments in early 2000. As a result, Suriname has a very open economy. However, the risk remains th at the stable and consistent economic growth 
driven by the external sector (mining and energy  sectors) over the past few years has a narrow 
and shock-sensitive base. For these reasons, the OP 2012-16 emphasizes economic diversification 
and export growth as crucial to development in the medium term.  
2.4.1  General trade policy objectives 
2.28.  The previous MOP (2006-2011) and the current  plan recognize similar objectives and needs, 
although they were developed under different economic circumstances. Whereas the 2006 plan 
concentrated more on pure economic diversification and reforms, the current one has a stronger 
societal and human dimension, seeking to achiev e budgetary and balance of payments stability 
and growth in GDP and per capita income. In view of the improved foreign debt position and stable 
economic growth, the authorities feel that the policy for the coming years must be based on WT/TPR/S/282/Rev.1 • Suriname  
 
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  Suriname's politico-economic and social reality.6 The purpose of this OP is to promote the welfare 
of all Surinamers, so that everyone, using his own effort, can participate optimally in the life of society.
7 To this effect, the Government intends to optimize and further commercialize the use of 
Suriname’s natural resources. It identifies agricult ure, stockbreeding, fisheries, and forestry as the 
bases for prosperity and well-being, while the mining, bauxite, petroleum, and gold sub-sectors 
are considered fast-earners, necessary to underpin and finance the primary and social sectors. 
2.29.  The absence of clear and quantitative targets is recognized as weakness of the OP. The 
main reason is lack of statistical material. The Government wants to set-up a commission to look 
into ways of reinforcing the institutions responsible for research and data collection, such as the National Planning Office and the General Bureau of Statistics. Such a step towards facilitating data collection and availability would certainly enhance the targeting, the implementation, and the 
evaluation of future OPs. At the time of this review, it was not clear if and when the commission 
would become operational. 
2.30.  The 2012-16 OP strategic goals are: rationalization of public administration, through 
increased efficiency and performance, and decent ralization; increasing earning capacity via the 
mining sector; re-organization of education; expansion of employment; creation of a healthy society; development of the tourism sector; en couragement of export-oriented businesses; and 
urban planning from an environmental perspectiv e. To finance its ambitions, the Government 
articulates the need to protect the mineral-dependent economy against price fluctuations, to diversify into sustainable sectors, and to increase national savings and investments in pension funds.  
2.31.  While diversification of the Suriname economy is considered an essential element of the OP, 
the OP also recognizes that most economic growth in the next five years will be generated by the mining sector. However, long-term sustainable economic development requires diversification 
through the private sector.  
2.32.  One of Suriname’s key trade policy objectives is to increase the production capacity and 
efficiency of its export-oriented industries, the se rvices sector in particular. The Government is 
also carrying out a Trade Facilitation Project to improve Suriname’s competitive position on the 
world market.
8 The authorities intend to establish a Suriname Trade, Investment and Export 
Promotion Agency. This agency will work clos ely with the Suriname Business Forum and the 
Investment and Development Corporation Suriname. It is unclear when this agency will be 
operational.  
2.33.  The Government seeks to use trade policy to create an environment conducive to business 
development in which better and higher standards, market orientation, competition, better 
information, and consumer protection are the benchmarks. "To improve doing business" is the 
catch phrase and policy determinant of the Ministry of Trade and Industry.9  
2.34.  More specifically, the Government has set the following targets: (1) to improve the 
environment in which traded goods are being tran sferred and transported in order to save time 
and money, making Suriname a more attractive place to do business; (2) to simplify and improve the rules applying to the establishment, continuation or closure of a business in Suriname; (3) to create a more attractive investment climate, including revising the current Investment Law 
of 2001; (4) to provide and make available legal, administrative, and market-access information to 
new or established private entrepeneurs; and (5) to educate and protect consumers in their choices and purchases. 
2.35.  The targets for the period 2012-16 include a competition policy, an anti-dumping policy, and 
a consumer protection law.  
2.36.  The authorities recognize that, to accomplish the set objectives, close coordination is 
necessary between the different ministries, govern ment agencies, and the legislature. So far, 
progress on the development of the legislative and institutional base has been far from optimal 
                                               
6 Government of Suriname (2012). 
7 Government of Suriname (2012). 
8 Government of Suriname (2012), page 108. 
9 Ministry of Trade and Industry (2011).  WT/TPR/S/282/Rev.1 • Suriname  
 
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  and not much different from at the time of the last Review of Suriname’s trade policy regime. 
Burdensome procedures and a complicated bureaucracy remain an obstacle.  
2.4.2  Sectoral trade policy objectives 2.37.  The cornerstones of Suriname’s overall obje ctive of diversifying its economy are agriculture, 
stockbreeding, fisheries, and forestry as bases for prosperity and well-being, and mining as fast 
earners of financing.
10 The authorities see emerging potentia l for Suriname’s services sector, in 
particular banking, tourism, air traffic, and telecommunications.  
2.38.  Suriname’s agricultural policy is focused on ensuring food security and safety for its 
population, as well as becoming a major food producer for the Caribbean region. To meet these goals, the Government calls upon producers, cons umers, and policy makers to work together at 
the national and international level. More investment, improved spatial planning, and increased 
exports are necessary to accomplish the agricultural  policy plans. The key areas identified in the 
OP are palm oil, rice, fruits and vegetables, bananas, floriculture, and livestock. 
2.39.  The mining sector is the most important contributor to Suriname’s economy, generating 
90% of its export income. Despite its desire to diversify the economy, the Government recognizes 
the short-term relevance of mining, in generating foreign currency and more jobs, albeit in limited 
numbers in this capital-intensive sector. It recognizes the environmental challenges for this sector 
and seeks more control over the exploitation and ex ploration of rights and territories. No specific 
trade-oriented policies or measures have been ta ken to enhance, improve or extend Suriname’s 
position in the gold, bauxite, or oil sector, aside from seeking more partnerships and investments.  
2.40.  The services sector is now being identified as an important and independent economic 
activity, with potential for further expansion and growth under an active trade policy. According to 
the authorities, the role of services as a GDP co ntributor and source of foreign currency has been 
underestimated. In addition to banking, tourism, aircraft services, and telecommunications, the OP 
notes potential in transport, distribution, culture and sports, computer technology, and 
professional services. Suriname’s liberalization commitments in services under the WTO are limited, although in practice its services economy is largely open. As part of the Economic 
Partnership Agreement (EPA) between the EU and the CARIFORUM states, Suriname made 
commitments to liberalize accountancy, bookkeeping, tourism, courier, and veterinary services, amongst others.  
2.5  Trade Agreements and Arrangements 
2.5.1  Multilateral agreements 
2.41.  Suriname has been a contracting party to the GATT since 25 February 1978 and is an 
o r i g i n a l  M e m b e r  o f  t h e  W T O .  I t  h a s  n o  p e r m a n e n t  m i s s i o n  i n  G e n e v a .  I t  g r a n t s  a t  l e a s t  M F N  
treatment to all its trading partners.  
2.42.  Suriname did not participate in the post-Uru guay Round negotiations on financial services or 
telecommunications, but made commitments on basic telecommunications in 1998.
11 Suriname 
has not joined the plurilateral agreements at WTO; it is not as participant in the WTO Information 
Technology Agreement. 
2.43.  In 2001, Suriname, as part of CARICOM, su bmitted negotiating proposals on agriculture and 
services to the WTO.12 At the Cancun Ministerial meeting in 2003, CARICOM issued the Caribbean 
Declaration on the Fifth Minist erial Conference of the WTO.13 I t  s t a t e d  t h a t  " t h e  d e v e l o p m e n t  
dimension of the Doha Work Programme must be accorded higher priority and greater urgency in order to reach agreement on key subjects of inte rest to developing countries." At the Geneva 
Ministerial Conference in 2009, CARICOM issued a statement expressing concerns about attempts 
to recalibrate the mandate of the Doha Development Round. It emphasized the importance of the 
                                               
10 Government of Suriname (2012). 
11 WTO document GATS/SC/80/Suppl.1, 27 January 1998. 
12 WTO documents S/CSS/W/43, 19 January 2001; and G/AG/NG/W/100, 15 January 2001. 
13 WTO document WT/MIN(03)/6, 29 August 2003. WT/TPR/S/282/Rev.1 • Suriname  
 
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  WTO’s work programme for small and vulnerable economies and pleaded for more appreciation 
and resources to combat the effects of the global economic and financial crises.14 
2.5.2  Regional agreements 2.5.2.1  CARICOM 
2.44.  Suriname is one of the 15 member states of the Caribbean Community and Common Market 
(CARICOM), which was created by the Treaty of Chaguaranas in 1973.
15 The Revised Treaty of 
Chaguaramas Establishing the Caribbean Communi ty, which is the legal basis for the CARICOM 
Single Market Economy (CSME), became effective in February 2002. The Revised Treaty 
incorporates nine protocols that had amended the original treaty. The protocols cover, inter alia , 
trade policy, services, consumer protection, competition policy, transport policy, and agricultural policy.
16 Suriname ratified and enacted the Revised Treaty in 2003.  
2.45.  The objective of the CSME is to create a single economic entity for CARICOM countries, with 
free movement of people, capital, goods, and services and, eventually, a single economic and trade policy.
17 The consolidation of the CSME required the adoption of national programmes for the 
removal of intra-CARICOM restrictions. Suriname formally adopted the SCME in 2006. The CSME is 
a regional trade and economic integration regime that has been adopted by 12 of the 15 member 
states.  
2.46.  The Conference of Heads of Government is the highest decision-making body in CARICOM 
and has the final authority for concluding any treaties involving CARICOM. The Community Council of Ministers has responsibility for strategic planning and coordination of matters of economic integration and external relations with third states. Both the Conference and the Council are 
supported by organs dealing with specific areas or issues. The Caribbean Community Secretariat is 
CARICOM's main administrative organ. 
2.47.  Suriname applies the CARICOM Common Extern al Tariff (CET) except for products on the 
A and C lists, which may have tariffs below or above the CET.  
2.48.  CARICOM also established a Caribbean Court of Justice (CCJ) in 2005 and the CARICOM 
Competition Commission (CCC) in 2008. The CCC provides a forum for CARICOM members for the 
resolution of issues related to anti-competitive business practices. The CARICOM Competition 
Commission and the Agriculture, Health and Food  Safety Agency are located in Suriname. The 
Competition Commission was inaugurated in January 2008 and the Agriculture, Health and food Safety Agency was established in March 2010. 
2.49.  With a view to coordinating information and efforts in trade negotiations, including in the 
WTO, CARICOM works through the Office of Trade Negotiations (OTN). In 2009, the OTN was incorporated into the CARICOM Secretariat as a Specialized Department. Subsequently, during the 
30
th Meeting of the Conference of Heads of Gove rnment of the CARICOM held 2-4 July 2009, a 
decision was taken to rename the Caribbean Regional Negotiating Machinery (CRNM) as the OTN.18 
The OTN works to develop a cohesive framework for the coordination and management of the 
region's negotiating resources, assists member states in preparing national positions, coordinates 
                                               
14 WTO document WT/MIN(09)17, 2 December 2009 
15 CARICOM members are: Antigua and Barbuda, Ba hamas, Barbados, Belize, Dominica, Grenada, 
Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago. The Baha mas is a member of the Community but not of the Common Market. 
CARICOM has five associate members: Anguilla, Bermuda, British Virgin Islands, Turks and Caicos, and the Cayman Islands. The Bahamas and Haiti are not participating in the Single Market Initiative, nor are the associate members. 
16 WTO document WT/REC155/1, 8 July 2003. 
17 WTO document WT/REG92/R/B/1, G/L/359, 12 April 2000. 
18 Office of Trade Negotiations online information. Viewed at: 
http://www.crnm.org/index.php?option=com_content&view=article&id=45&Itemid=69&0872a8d70c6252b772
61d45b4779477d=207f7b7ec587f77a3cfeec56339f1f72 . WT/TPR/S/282/Rev.1 • Suriname  
 
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  the formulation of unified strategies for the region, and undertakes and leads negotiations where 
appropriate.19 
2.5.2.2  CARICOM bilateral agreements 2.50.  As a member of CARICOM, Suriname is party to several trade agreements with other 
countries in the region including: the Dominican Republic (2000), covering goods only; Cuba 
(2000), covering goods only; and Costa Rica (2004).
20 Suriname has signed, but has not yet 
ratified the agreement with Costa Rica.  
2.51.  A comprehensive Economic Partnership Agreement (EPA) between the EU and 15 Caribbean 
states in the CARIFORUM group, including Suriname, was signed in 2008 and is currently being applied provisionally. The EU-CARIFORUM EPA re placed the ACP-EU Cotonou Agreement as the 
basis on which CARIFORUM-EU trade is conducted,  and provides for duty and quota-free access to 
the EU market for exports from the CARIFORUM countries. 
2.5.2.3  Non-reciprocal arrangements 2.52.  Products from Suriname are eligible for the GSP schemes of Belarus, Canada, the EU, 
Japan, Norway, the Russian Federati on, Switzerland, Turkey, and Japan.
21  
2.5.3  Bilateral agreements 2.53.  Aside from a bilateral investment agreements with Indonesia (not yet ratified), Suriname 
has a double taxation agreement with the Netherlands, a trade agreement with China (1998) and 
trade promotion treaties with Indonesia, India, and China.
22  
2.6  Trade Disputes and Consultations 2.54.  Suriname has not been the subject or the complainant in any dispute under the WTO 
Dispute Settlement Mechanism. It was a third party in one case: EC-Bananas III.
23 
2.7  Foreign Investment Regime 2.55.  The investment regime in Suriname was no t fundamentally changed during the period under 
review. Investments are covered by the Investment Law of 2001, despite attempts to revise the 
law since 2004. The delays in enacting a new law on investment are hindering domestic and foreign investment and the objective of diversifying the economy. This is also confirmed by the 
Suriname Business Forum, which considers the adoption of a new investment law as one of its 
main priorities.
24  
2.56.  The Investment Law 2001 applies to a broad range of sectors: agriculture, cattle-breeding, 
fishery, aquaculture, mining, forestry, tourism (except casinos), industry, trade, construction, 
services, and transport. The Law authorizes the Minister of Finance to grant various types of 
incentives in respect of both new investments and the expansion or replacement of existing investments. Incentives awarded prior to its entry into force, pursuant to the Investment Law 
1960, the Mining Decree 1986, the Petroleum Law 1990 or under a special law, such as in the case 
of the Brokopondo Agreement, continue to apply for the duration for which they were granted. 
                                               
19 Office of Trade Negotiations online information. Viewed at: 
http://www.crnm.org/index.php?option=com_content&view=article&id=45&Itemid=69&0872a8d70c6252b772
61d45b4779477d=207f7b7ec587f77a3cfeec56339f1f72 . 
20 For more details, see WTO document WT/TPR/S/260/Rev.1, 2 May 2012. 
21 UNCTAD (2011).  
22 U.S. Department of State (2012).  
23 Dispute Settlement case DS27. 
24 SBF priority document. Seen at SBF offices in Paramaribo, November 2012.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  2.57.  Most of the incentives that can be provided under the Investment Law 2001 are of a fiscal 
nature: 
 free depreciation of capital expenditures, at the discretion of the investor, if the value of the 
investment is at least US$5,000; 
 deduction from taxable profit of an assumed interest if capital expenditures are financed by 
liquid funds owned by the investor. If the investment is at least US$100,000 and the 
investor does not make use of the possibility of free depreciation, the rate of deduction is 
6%; if, in addition, the investment concerns a capital good for a company that exports at 
least 80% of its goods and/or services, the rate is 10%. The duration of this incentive is five years; 
 a deduction from taxable income of 20% of investments of at least US$20,000 in regions 
designated by the Government and of 10% in the case of investments of at least US$1,000 
that are in the interest of environmental protection;  
 reduction of the tax liability of a parent co mpany by the losses incurred by a fully-owned 
subsidiary. This incentive may be approved for a period of five years; 
 a 10% reduction of payroll taxes on wages, for a period of five years, in respect of new 
investments in regions designated by the Government;  
 provided that an enterprise has not applied for any of the above-mentioned facilities, a ten-
year tax holiday for profits realized by investments in new enterprises that fulfil conditions 
laid down by the Government with respect to the amount of equity invested and the number 
of jobs created by the investment; 
 exemption from payment of customs duties and of turnover and statistical taxes in respect 
of the importation of capital goods worth at least US$10,000 or of goods worth at least 
US$5,000 that are used in the production of capital goods. 
2.58.  The Investment Law 2001 also offers the possibility of granting incentives of a non-fiscal 
nature. Article 14 stipulates that, if the Minister of Finance grants a fiscal incentive, the investor, 
subject to the applicable rules on exchange controls, will also be granted a permit for the repatriation of funds for: (i) the repayment of eq uity and loans obtained abroad; (ii) the payment 
of profits and/or dividends; (iii) the payment of  interest and principal on funds borrowed abroad; 
and (iv) payments for management, technical assi stance, know-how, licences, and others. Such a 
permit may be subjected to conditions defined on a case-by-case basis. Furthermore, if the Minister awards an incentive under the Law, the appropriate body will grant a permit, subject to 
the applicable rules, for the residence and employ ment of foreign personnel, the establishment of 
an enterprise, and the import and export of goods.
25  
2.59.  The law accords special consideration on investments exceeding US$50 million and 
investments in the exploration and exploitation of bauxite, hydrocarbons, gold, and radioactive 
minerals. These investments may benefit from incentives other than those provided for in the Investment Law, provided they are granted by law. Since large investments and investments in the mining sector are the subject of extensiv e negotiations between the Government and the 
investors, the Government needs to be able to gran t incentives that depart from the provisions of 
the Investment Law, e.g. incentives relati ng to the provision of infrastructure.  
2.60.  Applications for incentives under the Inve stment Law 2001 must be addressed in writing to 
the Institute for the Promotion of Investment in Suriname (InvestSur), which submits the 
application to the Minister of Finance for decision and to other Ministers concerned for advice. A decision must, in principle, be taken within 45 da ys from the date of a request, failing which the 
                                               
25 During the previous Review, the authorities indicated that, since Suriname no longer applies a 
generalized system of import and export licensing, the reference made in the Investment Law 2001 to the 
granting of a permit for the import or export  of goods is of no practical relevance.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  request is deemed to have been rejected. Appeal of a negative decision to the President is 
possible. 
2.61.  Although a law to create InvestSur was adopted in June 2002. No data are available on the 
amount and nature of the incentives that have been awarded under the Investment Law.  
2.62.  The formation of limited liability compan ies in Suriname requires a declaration of no 
objection by the President of the Republic, an d the pursuit of any business or profession 
designated by the Ministry of Trade and Industry requires a prior permit from the Ministry. 
Observers consider the complexity of these procedures and their considerable scope for discretion 
as a significant obstacle to private business activity in general and foreign investment in particular.  
2.63.  The international transfer of payments related to foreign investment in Suriname remains 
subject to exchange control regulations. Thus, th e export of capital (including reimbursement of 
loans and investments) and of proceeds of capital (including profits and dividends) requires prior 
permission from the Foreign Exchange Commission.26  
2.64.  Chapter Three of the Revised Treaty of Chaguaramas requires CARICOM members to refrain 
from introducing new restrictions in their territories on the right of establishment of nationals of 
other member states and to remove existing restrictions on the right of establishment in accordance with a programme to be established by the Council for Trade and Development. The 
Chapter contains similar obligations to refrain from introducing new restrictions and to remove 
existing restrictions with regard to trade in services and the movement of capital and current transactions. These obligations are qualified by certain exceptions and safeguards, including with respect to activities that involve the exercise  of governmental authority, monopolies, and 
balance-of-payments problems. Suriname ag reed to remove the following measures: 
 requirement for prior approval of the Council of Ministers to receive land that is in the State 
domain;  
 requirement that foreigners obtain authorization from the Foreign Exchange Commission to 
buy and sell immovable property;  
 the granting of business licences under condit ions specified by the Minister of Trade and 
Industry;  
 requirement that non-residents obtain permission from the Foreign Exchange Commission 
before they may establish a company; 
 legal monopoly in landline telecommunications; and 
 nationality and residency requirements in the forestry sector. 
2.65.  Suriname is a party to the Convention establishing the Multilateral Investment Guarantee 
Agency (MIGA Convention)27, but not to the Convention on the Settlement of Investment Disputes 
between States and Nationals of ot her States (ICSID Convention).  
 
                                               
26 Decision AB 197. 
27 Suriname deposited its instrument of ratification of the MIGA Convention in July 2003. WT/TPR/S/282/Rev.1 • Suriname  
 
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  3  TRADE POLICIES AND PRACTICES BY MEASURE 
3.1  Measures Directly Affecting Imports 3.1.1  Registration and customs procedures 3.1.  All economic agents wishing to import goods for commercial purposes must be registered 
with the Chamber of Commerce and Industry of Suriname (KKF). To register, an importer must 
submit two passport photos, a birth certificate, an d a declaration of Surinamese nationality, or 
permanent residency permit in the case of foreign importers.
1 Importers must also obtain a 
registration number from the Customs and Excise Department (CED), for which they must submit 
a copy of their registration with the KKF and their tax identification number issued by the Directorate of Taxes.   
3.2.  Suriname does not have a preshipment inspection programme or equivalent measures. 
However, in the context of this Review, the authorities indicated that a new PSI programme will be 
launched as of April 2013. 
3.3.  Under the Ministry in charge of finance,  the CED is responsible for customs procedures, 
including levying duties and other charges. The core customs procedures for inspection and 
administration of goods, in international trade, are vested in the Shipping Act of 1908. However, 
numerous customs-related issues, including procedures, and duty and tax collection on 
international trade, are found in several separate pieces of legislation, including:  
 the Shipping Act of 1908 (for customs procedures of inspection and administration); 
 the Customs Duty Act of 1995 (modified in 2008 to cater for HS2007);  
 the Order on Statistical Right of 1973;  
 the Order on Consent Right of 1973;  
 the Law on the Movement of Goods of 2003;  
 the Resolution on Raw Material of 1997;  
 the Investment Law of 2002;  
 the Law on Excise Tax on Tobacco/Cigarettes and Alcohol 2011; and  
 the Law on Excise Tax on Motor Fuel of 1981 (last amended in 1984). 
3.4.   In order to further simplify trade-related administrative procedures, the authorities are in 
the process of renewing the main laws that regulate international trade. New legislation, the General Customs Act, is expected to replace the Shipping Act of 1908, and will include all exemptions contained in the Customs Duty Act. 
3.5.  In 2009, with the assistance of the WTO, Suriname undertook a Trade Facilitation National 
Assessment of Needs and Priorities  Survey. The exercise identified a number of achievements in 
trade facilitation standards, including the availability of relevant trade and customs procedures and 
regulations, mainly on CED's website
2, and the possibility for stakeh olders to comment on draft 
legislation. However, there is room for improvement, mainly due to the lack of formal arrangements and mandatory rules on trade facilitation procedures.  
3.6.  Efforts are under way to promote border ag ency cooperation in Suriname. As an example, 
there is an informal cooperation framework, through quarterly meetings, between the Department of Import-Export and Foreign Exchange Control (I UD), the CED, customs brok ers, the Ministry of 
Agriculture, Livestock and Fisheries (LVV), shipping agencies, and the Ministry in charge of health.  
                                               
1 Suriname Chamber of Commerce and Industry (2003). 
2 Douane Suriname online information. Viewed at: http://www.douane.sr/ .  WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.7.  Since 2007, Surinamese customs offices have been equipped with the version 2.7 of the 
Automated System for Customs Data (ASYCUDA). The involvement of a customs broker, for carrying out customs procedures, is optional in Suriname. A training certificate issued by the KKF is required to become a professional customs broker.  
3.8.  To clear goods through Customs, importers have been required to fill in the international 
trade transaction form for goods and services (IT form), and the single administrative document (ED form). The IT form specifies the method of transport and the total amount of payment for the 
imported goods. 
3.9.  The importer must submit one copy of the IT to the Central Bank for statistical and foreign 
exchange purposes. In addition, three copies of the IT form are submitted to the CED, together 
with the single administrative document (ED form), the commercial invoice, bill of lading or airway 
bill, and the packing list. There is no mech anism for electronic submission of customs 
documentation. Importers must have the ED form stamped at the Ministry of Trade and Industry 
in Paramaribo before submitting it to the CED. 
3.10.  Goods that enter Suriname under CARICOM's free-trade regime must be accompanied by a 
certificate of origin and a CARICOM invoice. 
3.11.  The decision to conduct a physical inspection of the merchandise is based on criteria 
including the amount of the customs duties and the previous experience of the CED with the 
importing company. The authorities have indicated that some 4.5% of total imports were inspected during the review period. 
3.12.  The authorities also indicated that g oods normally clear Customs within three days. 
However, Suriname has not undertaken any admini strative step to assess average release and 
clearance times. 
3.13.  Pursuant to the Customs Duty Act, decisions by customs officials may be appealed, initially 
level to the Head of the CED and then to the Dire ctor of Taxes. If still unsatisfied, importers may 
appeal to the national courts. According to the authorities, the CED dealt with 54 disputes of which four were taken to national courts. 
3.14.  Suriname is not a member of the World Customs Organization. 
3.1.2  Customs valuation 3.15.  In principle, Suriname's legislation on customs valuation is contained in the Tariff Import 
Duties Law, which was notified to the WTO on 27 January 1999.
3 The legislation is based on the 
Agreement on Implementation of Article VII of  the GATT 1994 (Customs Valuation Agreement). 
However, in order to mitigate cases of under-val uation, the CED uses reference prices based on 
the prices of past shipments of identical or similar good.  
3.16.  The customs authorities have indicated that  apparent under-valuation of imports had been a 
regular occurrence. In order to mitigate under-invoicing with respect to imported cars, cigarettes, and alcoholic beverages, specific duties are currently applied.  
3.17.  The Tariff Import Duties Law explicitly pr ohibits the use of minimum values to determine 
customs value.
4 
3.1.3  Tariffs and other charges 3.1.3.1  MFN tariff levels and structure 
3.18.  Suriname maintains restrictions under Lists A and C of CARICOM. The CET rates for 
products in List A have been suspended indefinitely, allowing each CARICOM member to set its 
                                               
3 WTO document G/VAL/N/1/SUR/1, 27 January 1999. 
4 Article 16 of the Tariff Import Duties Law. WT/TPR/S/282/Rev.1 • Suriname  
 
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  own, lower rates. For products in List C, CARI COM members may specify their own rates above the 
minimum agreed rates. 
3.19.  Suriname's applied MFN tariff is entirely ad valorem and comprises ten rates ranging from 
zero to 50%. The most frequent rate is 5% (56.9% of total lines); the rate of 50% is applied to 
only 0.5% of all tariff lines (Chart 3.1). The si mple average tariff is 11.4% (Tables 3.1 and 3.2). 
The coefficient of variation of 0.9 shows a high dispersion of rates (Chart 3.1). 
Chart 3.1 Frequency distribution of MFN tariff rates, 2012 
(5.0%)(56.9%)
(3.9%)(5.9%)(19.1%)
(1.6%)(0.2%) (0.2%)(6.6%)
(0.5%)
0102030405060708090100
05001,0001,5002,0002,5003,0003,5004,000
D u t y  f r e e 5 1 01 52 02 53 03 54 05 0Number of tariff linesaPer cent
Cumulative %
Number of lines (% of total)
 
a The total number of ad valorem  lines is 6,292. 
Source: WTO Secretariat calculations, based on data provided by the Suriname authorities. 
Table 3.1 Structure of the tariff schedule, 2012  
(%) 
  2012  
1. Total number of tariff lines 6,292 
2. Non-ad valorem  tariffs (% of all tariff lines) 0.0 
3. Non- ad valorem  with no AVEs (% of all tariff lines) 0.0 
4. Lines subject to tariff quotas (% of all tariff lines) 0.0 
5. Duty-free tariff lines (%  of all tariff lines) 5.0 
6. Dutiable lines tariff average rate (%) 12.0 
7. Simple average tariff (%) 11.4 
8. WTO agriculture 19.5 
9. WTO non-agriculture (including petroleum) 9.8 
10. Agriculture, huntin g, forestry and fishing (ISIC 1) 22.7 
11. Mining and quarrying (ISIC 2) 7.2 
12. Manufacturing (ISIC 3) 10.7 
13. First stage of processing 18.5 
14. Semi-processed products 6.1 
15. Fully processed products 12.5 
16. Domestic tariff peaks (% of all tariff lines)a 7.3 
17. International tariff peaks (% of all tariff lines)b 28.2 
18. Overall standard deviation 10.6 
19. Bound tariff lines (% of all tariff lines) 30.6 
a Domestic tariff peaks are defined as those exc eeding three times the overall average applied rate. 
b International tariff peaks are defined as those exceeding 15%. 
Source: WTO Secretariat calculations, based on data provided by the authorities. WT/TPR/S/282/Rev.1 • Suriname  
 
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  Table 3.2 Summary analysis of the MFN tariff, 2012 
Description MFN Final bounda 
No. of 
lines Average 
(%) Range 
(%) Coefficient 
of variation 
(CV) Average 
(%) Range 
(%) 
Total 6,292 11.4 0-50 0.9 18.3 0-40 
HS 01-24 1,124 21.8 0-50 0.7 19.9 10-25 
HS 25-97 5,168 9.1 0-40 0.8 16.7 0-40 
By WTO category       
WTO Agriculture 1,029 19.5 0-50 0.8 19.8 10-20 
Animals and products thereof 151 21.1 0-40 0.6 20.0 20-20 
Dairy products 24 9.6 5-20 0.5 20.0 20-20 
Fruit, vegetables, and plants 306 23.1 0-40 0.7 20.0 17-20 
Coffee and tea 29 17.4 5-40 0.8 20.0 20-20 
Cereals and preparations 125 16.0 0-40 0.7 19.9 14.25-20 
Oil seeds, fats and oils and 
their products 94 16.9 0-40 1.0 18.4 10-20 
Sugars and confectionary 21 21.7 5-40 0.7 20.0 20-20 
Beverages, spirits, and 
tobacco 118 29.7 5-50 0.6 20.0 20-20 
Cotton 6 5.0 5-5 0.0 20.0 20-20 
Other agricultural products 
n.e.s. 155 9.4 0-40 1.3 19.8 10-20 
WTO non-agriculture (incl. 
petroleum) 5,263 9.8 0-40 0.9 16.6 0-40 
WTO non-agriculture (excl. 
petroleum) 5,237 9.8 0-40 0.9 16.6 0-40 
Fish and fishery products 173 28.6 0-40 0.5 22.5 17.33-25 
Minerals and metals 1,115 8.2 0-40 0.9 6.8 0-20 
Chemicals and photographic 
supplies 1,006 7.4 0-30 0.7 5.2 0-30 
Wood, pulp, paper, and 
furniture 329 9.8 0-20 0.7 21.8 20-25 
Textiles 638 7.7 0-25 0.7 14.4 0-20 
Clothing 277 19.9 5-20 0.1 37.9 27.5-40 
Leather, rubber, footwear, 
and travel goods 179 10.4 0-25 0.7 7.1 0-20 
Non-electric machinery 588 6.3 0-30 0.8 6.6 3-22.5 
Electric machinery 264 9.9 0-30 0.7 17.9 5-20 
Transport equipment 185 9.6 0-35 1.0 23.2 3-38 
Non-agriculture articles 
n.e.s. 483 13.0 0-40 0.6 20.0 20-20 
Petroleum 26 7.7 0-25 0.9 18.2 18-19.75 
By ISIC sector b       
Agriculture and fisheries 413 22.7 0-40 0.8 19.9 10-20 
Mining 107 7.2 0-40 1.1 5.0 0-20 
Manufacturing 5,771 10.6 0-50 0.9 18.0 0-40 
By HS section       
01 Live animals and prod. 332 24.5 0-40 0.7 20.1 17.33-25 
02 Vegetable products 382 20.6 0-40 0.8 19.8 10-20 
03 Fats and oils 53 25.7 5-40 0.7 18.6 13.88-20 
04 Prepared food etc. 357 19.9 0-50 0.7 20.1 20-22.5 
05 Minerals 187 6.5 0-25 0.7 16.3 0-20 
06 Chemical and prod. 937 7.0 0-30 0.8 10.1 0-30 
07 Plastics and rubber 244 9.0 0-25 0.6 20.0 20-20 
08 Hides and skins 80 10.6 5-20 0.7 7.5 0-20 
09 Wood & articles 133 10.8 0-20 0.5 20.0 20-20 
10 Pulp, paper etc. 172 7.8 0-20 0.8 25.0 25-25 
11 Textile and articles 902 11.0 0-20 0.7 28.6 0-40 
12 Footwear, headgear 60 16.1 0-20 0.4 0.0 0-0 
13 Articles of stone 186 9.5 0-20 0.7 20.0 20-20 
14 Precious stones, etc. 62 22.8 0-40 0.8 0.0 0-0 
15 Base metals and prod. 712 7.5 0-30 0.7 6.7 5-20 
16 Machinery 869 7.5 0-30 0.8 8.9 3-22.5 
17 Transport equipment 196 9.5 0-35 1.0 23.1 3-38 
18 Precision equipment 229 11.0 0-40 0.8 20.0 20-20 
19 Arms and ammunition 24 19.6 0-25 0.4 0.0 0-0 
20 Miscellaneous manuf 167 15.0 0-20 0.4 0.0 0-0 
21 Works of art, etc. 8 20.0 20-20 0.0 0.0 0-0 WT/TPR/S/282/Rev.1 • Suriname  
 
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  Description MFN Final bounda 
No. of 
lines Average 
(%) Range 
(%) Coefficient 
of variation 
(CV) Average 
(%) Range 
(%) 
By stage of processing       
First stage of processing 820 18.5 0-40 0.9 19.6 0-20 
Semi-processed products 1,850 6.1 0-40 0.7 15.6 0-25 
Fully-processed products 3,622 12.5 0-50 0.8 18.3 0-40 
a Bound rates and applied rates are provided in HS 07 classification, however only 30.6% of the tariff 
is bound, which means that bound averages ar e calculated on a different number of lines. 
b ISIC (Rev.2) classification, excluding electricity (1 line). 
Source: WTO Secretariat estimates, based on data provided by the authorities of Suriname. 
3.20.  Agricultural products (WTO definition) are subject to heavier taxation (19.5% on average) 
than non-agricultural products (9.8% on average). Using ISIC definitions, agriculture remains the 
most protected sector (with an average tariff of 22.7%), followed by manufacturing (10.6%) and 
mining (7.2%) (Table 3.2). 
3.21.  Overall, the tariff is characterized by mixed escalation (Table 3.1), negative from raw 
materials (18.5%) to semi-finished products (6 .1%), and positive towards finished products 
(12.5%). A more detailed breakdown shows mixed tariff escalation in the food, textile, and 
non-metallic mineral industries, and positive escalation for wood products (Chart 3.2). 
Chart 3.2 Tariff escalation by ISIC 2-digit industry, 2012 
051015202530
All products
Agriculture
Mining and quarrying
Food, beverages
Textiles, apparel
Wood products
Paper, printing
Chemicals, plastics
Non-metallic mineral
products
Basic metal products
Fabricated metal
products
Other manufacturing
industriesRaw materials Semi-processed Fully processedPer cent
 
Source: WTO Secretariat estimates, based on da ta provided by the Suriname authorities.  
3.1.3.2  Other duties and charges 
3.22.  In addition to tariffs, all goods imported to  Suriname are subject, on the basis of their c.i.f 
value, to a consent fee of 1.5%; and a statistical fee of 0.5% on all imports, except bauxite, for 
which the fee is 2%.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.1.3.3  Bindings in the WTO 
3.23.  Suriname's bindings have not changed since its previous Review.5 Some 30% of its tariff in 
the HS2007 classification is covered.  
3.24.  The average bound rate is 18.3% (19.8%  for agricultural products, and 16.6% for non-
agricultural products). The bound rates range from zero to 40%, with the highest applying to non-
agricultural products (Table 3.2). 
3.25.  Applied rates exceed the bound rates for some 9% of Suriname's tariff lines covering 
agricultural and non-agricultural products.  
3.26.  Suriname has bound other duties and charges at zero or 50% for 25.6% of total tariff lines.  
3.27.  In September 2002, Suriname requested authorization to enter into negotiations in order to 
modify its binding concessions, in accordance with Article XXVIII of GATT 1994. However, it 
retracted the request in December 2011, before negotiations had been completed.  
3.1.3.4  Preferential tariffs 3.28.  Suriname grants duty-free access to all imports from CARICOM, provided that they meet 
the criteria for CARICOM origin (section 3.1.5). 
3.1.4  Internal taxes affecting imports 3.29.  Based on the Law on Turnover Tax 1997, Suriname applies a turnover tax to most 
domestically produced and imported goods and services. The basic rate of the tax is 10% for 
goods and 8% for services. A rate of 0% applies to some 50 products listed in Annex II of the Law.
6 A rate of 25% applies to some luxury goods.7 In practice, all products subject to the highest 
rate are imported. 
3.30.  The turnover tax is levied once in the production-distribution chain, at the point of sale by 
the manufacturer. According to Article 14 of the La w on Turnover Tax, the applied turnover tax for 
imports is assessed on the basis of the c.i.f. cust oms value, plus all other applicable duties and 
charges including customs duties.  
3.31.  Suriname also applies excise taxes on spir its, beer, non-alcoholic beverages, and cigarettes 
and tobacco. According to the authorities, excise  taxes apply on imported and locally produced 
goods alike. The applied specific duties are: US$6/litre of spirits, US$50/hectolitre of beer 
(US$25/hectolitre for companies producing less than 200,000 hectolitre per year), US$0.12/litre of non-alcoholic beverages, US$44/500 pieces of cigars, and 1,000 pieces of cigarettes or one kg of tobacco. 
3.32.  A surcharge of SRD 30 on the turnover tax on fuel oil was introduced in 2000. 
                                               
5 WTO document WT/TPR/S/135, 14 July 2004. 
6 These include baby food, beans, biscuits, bread, bu tter, cacoa powder, cheese, cold cuts, cooking gas, 
cooking oil, diapers, di esel oil, disinfectants, eggs, electricity, fresh fish and meat products, fresh fruit and 
vegetables, margarine, garl ic, matches, medicines and medical equipment, milk and powder milk, mosquito 
coils, oats, peanut butter, potatoes, rice, salt, salted fi sh, sanitary towels, sardines in oil or tomato sauce, 
school uniforms and instruction materials, soap, spices, sugar, tea, toilet paper, tomato puree, toothpaste, 
wheat and wheat flour. 
7 Luxury goods are automobiles and other motor vehi cles primarily intended for passenger transport 
with an engine capacity exceeding 2,000 cm3 and a c.i.f. value of US$25,000 or more; motorcycles; 
speedboats, jet skies, yachts, and other vessels for sport and pleasure; washing machines; video cameras; 
fireworks; gambling machines; televi sion sets with screens of more than 31 inches; satellite dishes and 
antennas; and weapons and ammunition. WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.1.5  Rules of origin 
3.33.  Suriname has notified that it does not apply non-preferential rules of origin.8 It also notified 
that it applies the preferential rules of origin contained in Schedule II of the CARICOM Treaty (Rules Regarding Common Market Origin).
9 
3.34.  To be considered as originating in CARICOM, goods must have been wholly produced within 
CARICOM or substantially transformed if produced wholly or partly from materials imported from third countries. Substantial transformation is deemed to have taken place when there has been a 
change of tariff heading or fulfilment of criteria such as the use of specific technical processes or 
components in manufacturing or minimum levels of components and raw materials from CARICOM 
countries. To qualify for CARICOM origin, imports into Suriname must be accompanied by a CARICOM certificate of origin issued by the exporting country and a CARICOM invoice. 
3.35.  The KKF is responsible for issuing certificates of origin for exports to CARICOM; the 
Inspectorate for Customs and Excise is responsible for issuing all other certificates of origin. 
3.1.6  Import prohibitions, restrictions, and licensing 
3.36.  In December 2003, Suriname notified its import licensing regime to the WTO.
10 Import 
prohibitions, restrictions, and licensing continue to be regulated through the Negative List Decision adopted under the Law on the Movement of Goods.
11 This provides the list of products subject to 
prohibitions or restrictions, including non-automatic or certification requirements (Table A3.1). 
Suriname does not maintain licensing procedures in  order to administer quantitative restrictions. 
3.1.7  Contingency measures 3.37.  The legal and institutional framework for contingency measures has not changed since the 
last Review of Suriname.  
3.38.  Suriname has never undertaken any action  related to contingency measures. It has no 
specific law dealing with anti-dumping, countervailing duties, or safeguard measures.
12 However, 
the Law on the Movement of Goods contains provisions allowing anti-dumping measures if imports 
cause serious harm to existing businesses or slow down the start-up of a new business sector, although it does not define what these measures may be imposed. The Law also provides for the 
application of safeguard measures when increasing imports seriously disadvantage or threaten to 
seriously disadvantage domestic producers of simi lar or competitive goods. There are no detailed 
regulations setting out the conditions and procedur es for deciding and applying anti-dumping or 
safeguard measures.  
3.39.  Suriname has never used the CARICOM provisions on anti-dumping and countervailing 
measures. CARICOM members may conduct investigat ions on dumping by other members, or refer 
cases to the Council for Trade and Economic Development (COTED), an entity composed of 
Ministers from CARICOM.
13  
3.1.8  Standards and technical regulations 3.40.  New developments have occurred in Suriname's standards/technical regulations setting 
framework. The act establishing the Suriname Standards Bureau (SSB) was adopted in 2006
14, 
and the SSB was brought into operation in 2007 as the national agency responsible for administering and developing standards and technica l regulations. In addition, SSB is the national 
authority for certification of goods and accepted processes, for metrology, and for accreditation of 
                                               
8 WTO document G/RO/N/24, 15 January 1999. 
9 WTO document G/RO/N/24, 15 January 1999. 
10 WTO document G/LIC/N/1/SUR/1, 15 December 2003. 
11 WTO document WT/TPR/S/135, 14 June 2004. 
12 WTO documents G/ADP/N/1/SUR/2, 8 May 2009; G/SCM/N/202/SUR, 1 February 2010; and 
G/ADP/N/193/SUR, 5 February 2010. 
13 WTO document WT/TPR/S/135, 14 June 2004. 
14 The Act on Suriname Standards Bureau ( Wet Surinaams Bureau voor Standaarden ), S.B. 2006, 
No. 30. WT/TPR/S/282/Rev.1 • Suriname  
 
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  laboratories and testing facilities.15 It is also responsible for promoting the use of international and 
regional standards, including technical regulations.  
3.41.  In principle, under the SSB, the National Standards Information Centre (Nationaal 
Standaarden Informatie Centrum, NSIC) is the national information point for standards and 
technical regulations. As such, it is responsible for providing information on national, regional, and 
international standards and technical regulations. The NSIC keeps an inventory of standards and technical regulations in force in Suriname.  
3.42.  In general, international standards serve as  the basis for Suriname's national standards. As 
of March 2013, standards existed on food hygienic; hazard analysis and critical control point (HACCP); quality management systems; environmental management systems; medical laboratories; conformity assessment; general requirements for the competence of testing and 
calibration laboratories; food safety manageme nt systems; general requirements for bodies 
operating product certification systems; and occupational health and safety management systems specification. 
3.43.  In addition, Suriname has adopted CARICOM's technical regulations for brewery products, 
the poultry industry, labelling of tobacco products, rum, and rice. The Ministry of agriculture is in 
charge of the inspection process.  
3.44.  The Ministry of Trade and Industry is the notification authority. However, neither the SSB 
nor the Ministry of Trade and Industry have been notified to the WTO.  
3.45.  The authorities have indicated that once th e SSB is notified as Suriname's enquiry point, 
notifications of technical regulations will follow. 
3.46.  The Standards Act of 2004 is the main source of regulation for standardization, conformity 
assessment, and certification in Suriname.  The development of standards takes about 14 months 
and goes through 10 different stages. Any interested individual or organization may submit a 
proposal to initiate the development of a national standard or technical regulation. The process is 
undertaken once the relevance of the proposed regulation is established, following investigation by a technical committee. In general, the committees consist of academics, producers, and consumer 
representatives.
16 Other organizations involved in the development of standards and technical 
regulations are the Agricultural Health and Food Safety Unit (AHFSU), the Fish Inspection Institute (VKI), the Environment Hygienic Service (Milieu Hygienische Dienst), and the National Institute for Environment and Development (NIMOS), which is concerned with environmental legislation and 
regulation for protection of the environment.  
3.47.  In developing standards and technical regu lations, a draft document is published in local 
newspapers, as well as on the SSB's website, allowing for comments from the public within 
60 days. The comments are reviewed by the technical committee and the draft may be adjusted. 
The final draft is presented by SSB to the Ministry of Trade and Industry. In the case of a technical 
regulation, the Ministry of Trade and Industry presen ts the final draft to the council of ministers for 
adoption. As the final step, the standard or technical regulation is published in the Official Journal  
(Staatsblad ).
17 
3.48.  Suriname is a member of the CARICOM Regional Organization for Standards and Quality 
(CROSQ), the International Telecommunication Un ion, Codex Alimentarius Commission, the ISO, 
the Caribbean metrology institute (CARIME), and the Inter-American Metrology System. 
3.1.9  Sanitary and phytosanitary measures 3.49.  Sanitary and phytosanitary issues are regu lated by the Plant Protection Ordinance of 1965, 
the Animal Disease Regulation of 1954, the Fish Inspection Law of 2000, the Meat Regulation of 
                                               
15 ISO online information. Viewed at: 
http://www.iso.org/iso/home/about/iso_members/iso_member_body.htm?member_id=548208 . 
16 Suriname Bureau of Standards online informatio n. Viewed at: 
http://www.ssb.sr/smartcms/default.asp?contentID=602 .  
17 Suriname Bureau of Standards online informatio n. Viewed at: 
http://www.ssb.sr/smartcms/default.asp?contentID=602 .  WT/TPR/S/282/Rev.1 • Suriname  
 
- 35 - 
 
  1961, the Pesticide Act, 1972 (last amended in 2005), and the Sowing-Seed Law, 2005. In early 
2004, the Plant Protection Ordinance was being updated and a draft law regulating trade in 
livestock and seeds was under review. A number of new regulations, related to animal health, are 
being drafted, including the Animal Health Act and the Animal Development Act. In addition, a 
National Food Law is being developed .  
3.50.  Under the Ministry in charge of Agricu lture, Animal Husbandry, and Fisheries, the 
Agricultural Health and Food Safety Unit (AHFSU ) develops and harmonizes national standards in 
line with regulations and standards from the Code x Alimentarius, the International Plant Protection 
Convention (IPPC), and the World Organization fo r Animal Health (OIE). It has established a 
Surveillance and Monitoring System for Animal and Plant Pests and Disease.18 A National Codex 
Committee established in 2004 is not yet fully operational. 
3.51.  The food safety management framework remains poor in Suriname. In 2007, under a 
technical assistance programme provided by the FA O, the Ministry of Agriculture, Livestock and 
Fisheries, in cooperation with the Ministry of He alth, started a programme to strengthen the food 
control system. The project was aimed at improving local food safety and increasing exports. It 
was expected to create a collaborative framework between, inter alia , the Plant Quarantine Unit, 
the Department of Veterinary Inspection, the Fish  Inspection Institute and their laboratories, the 
Department of Environmental Inspection, and the Central Laboratory of the Agency for Public 
Health (BOG) of the Ministry in charge of Health.  
3.52.  During the inspection process, samples are taken by the inspectors of the Ministry of 
Agriculture, Livestock and Fisheries and tested at the Central Laboratory. If the importer is not 
satisfied with the results, a second test may be ru n in accredited laboratories in the Netherlands or 
in Trinidad and Tobago. Suriname does not have any accredited laboratories.  
3.53.  Under the Plant Protection Ordinance of 1965, an import application form and a 
phytosanitary import permit are required for imports of plants and plant products. Applications are 
processed by the Plant Quarantine Unit, which conducts a pest risk analysis. A phytosanitary permit of a recognized authority in the exporting country is also required. All imports of 
agricultural products should be notified to the Plant Quarantine Unit, as inspection is mandatory.
19 
3.54.  The Ministry of Health has a public health laboratory that deals with chemistry, entomology, 
microbiology, and parasitology. The Ministry of  Agriculture, Animal Husbandry and Fisheries 
maintains laboratories for fruit fly, nematology, entomology, mycology, and bacteriology, a palm 
research station, and a fisheries laboratory for food inspection. Private-sector laboratories also 
exist. Public laboratories focus mostly on sampling, control, and, to a lesser extent, laboratory analysis. 
3.55.  The Fish Inspection Unit (VKI) began operating in 2007. It was established to implement the 
Fish Inspection Law of 2000. The VKI determines quality standards for all fishery products and is responsible for inspection and control to ensure the quality of fishery products for import and 
export. The VKI has established a surveillance and monitoring system for biotoxins and 
contaminants in fishery products; a residue monitoring plan for aquaculture products in compliance with EU regulation; a surveillance and monitoring system for hygiene in processing 
plants; freshness tests; inspection of the hygiene situation on fishing vessels, processing plants, 
landing sites, and aquaculture farms, and inspecti on of the quality of processing water and the 
fisheries products; registration and recognition of landing sites; processing plants and aquaculture farms; issuance of inspection and health certificates; and a surveillance and monitoring system for 
smoked fishery products.
 20  
3.56.  The Permanent Secretary of the Ministry in  charge of Agriculture, Animal Husbandry, and 
Fisheries serves as Suriname's national notification authority under the SPS Agreement.21 
                                               
18 Ministry of Agriculture, Animal Husbandry an d Fisheries online information. Viewed at:  
http://www.minlvv.sr.org/smartcm s/img/pdf/NOTE_REGARDING_PLANT,_ ANIMAL_ANDFISHERIES_HEALTH_IN
_SURINAME_VAN_DEBIE.pdf .  
19 Ministry of Agriculture, Animal Husbandry and Fisheries (undated).  
20 Ministry of Agriculture, Animal Husbandry and Fisheries (undated). 
21 WTO document G/SPS/NNA/8, 20 December 2004. WT/TPR/S/282/Rev.1 • Suriname  
 
- 36 - 
 
  3.57.  Suriname is a party to the Cartagena Protocol on Biosafety to the Convention of Biological 
Diversity (since 2008).22  
3.58.  In 2004, the Ministry of Labour, Tec hnological Development and Environment issued a 
report on setting up a national biosafety framework for Suriname. It describes a systematic 
procedure for handling imports and exports of GMOs. It also provides a framework for 
GMO-related risk analysis, for imports, exports,  and locally produced GMOs. In this regard, a 
biosafety law ( bioveiligheidswet ) was to be adopted within three years after adoption of the 
biosafety framework. 
3.59.  Suriname is a member of the Codex Alimentarius, the World Organization for Animal Health, 
and the International Plant Protection  Convention (Convention of 1991).  
3.2  Measures Directly Affecting Exports 
3.2.1  Procedures 
3.60.  In general, registration requirements an d customs formalities for imports of goods, for 
commercial purposes, also apply to exports (section 3.1.1). The documents required to export 
goods from Suriname comprise an international trade transaction form for goods and services (IT 
form), single administrative document (ED form), commercial invoice, bill of lading or airway bill, and packing list. 
3.61.  Due to the lack of a risk analysis system to identify and inspect high-risk shipments, all 
exports continue to be subject to physical inspection. 
3.2.2  Export taxes, charges,  levies, and minimum prices 
3.62.  All exports are subject to a consent fee of 0.1%. A statistical fee of 0.5% applies to exports 
of all products except bauxite, which is subject to a statistical fee of 2%. These fees are assessed 
on the f.o.b. value of exports and are applied regardless of their destination. 
3.63.  Suriname applies additional taxes on exports of raw and roughly processed timber. Rates 
are set at 20% for logs, and 5% and 10% for hewn-squares, sleepers (ties), and other 
semi-processed timber. They apply to products above a minimum value set by the Government. 
3.64.  Under the Decision on Rice Exports, expo rts of rice and rice-products are subject to an 
inspection fee of SRD 10, of which SRD 6 are allocated to the Rice Research Institute. 
3.2.3  Export prohibitions, restrictions, and licensing 3.65.  The Negative List Decision adopted under the Law on the Movement of Goods is the main 
legal instrument for export restrictions and licensing.
23 The List covers products that are currently 
subject to export prohibitions and restrictions (Table A3.2).  
3.2.4  Export subsidies and incentives 3.66.  According to the authorities, Suriname does not grant any subsidies for export purposes.  
3.2.5  Export promotion, financ e, insurance, and guarantees 
3.67.  The Suriname Chamber of Commerce and Industry, together with the Suriname's business 
associations continue to execute export promotion activities (trade fairs and exhibitions in foreign 
markets). 
3.68.  There is no government-sponsored or operated export insurance, finance or guarantee 
programme in Suriname. 
                                               
22 Convention on Biological Diversity online information 2012, Viewed at: 
http://bch.cbd.int/protocol/parties/  . 
23 WTO document WT/TPR/S/135, 14 June 2004.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.69.  Suriname does not maintain an export de velopment strategy. The authorities indicated that 
a programme is being adopted in order to promote export products. In addition, specific export promotion programmes are being adopted for Brazil and the EU. 
3.3  Measures Affecting Production and Trade 
3.3.1  Incentives 
3.70.  In May 2009, Suriname notified the WTO that it does not grant subsidies to any economic 
sector.
24  
3.71.  The Investment Law 2001 continues to serve as the main legal framework for granting fiscal 
and non-fiscal incentives for new investments and for the expansion of existing investments. Various economic activities are eligible for incentives, including agriculture, cattle-breeding, fisheries, aquaculture, mining, forestry, tourism (except casinos), industry, trade, construction, 
services, and transport. Investments in excess of US$50 million for the exploration and 
exploitation of bauxite, hydrocar bons, gold, and radioactive minerals may benefit from additional 
incentives. A new investment Law has been under preparation since 2004.  
3.72.  The Tariff Import Duties Law 1996 and the Raw Materials Decision constitute the legal basis 
for import duty exemptions for manufacturing and export-oriented activities in Suriname.  
3.3.2  Business registration and licensing 
3.73.  Business registration in Suriname is mainly regulated through the Commercial Code of 
Suriname, which dates back to 1936, as amended;  and the Trade Register Law, promulgated in 
1936.  
3.74.  Since the last TPR of Suriname, some efforts have been made to simplify business 
registration requirements. Since June 2011, business licensing is required for 26 businesses and 
professions; all others are subject only to regist ration in the Chamber of Commerce and Industry's 
Trade Register.  
3.75.  Licence applicants must be able to prove their creditworthiness. In addition, the Minister in 
charge of Trade and Industry may determine that, for certain businesses and professions, licences 
should be granted only if the applicant can furnis h satisfactory proof of commercial practice and 
professional skill. The Minster may issue detailed rules on the manner in which such proof should 
be provided.
25 A licence is granted for a specific location, a specific business or a specific 
profession, for a period of three years. It is re newable for periods of three years, against payment 
of the same fee paid upon initial application. The Minister may attach conditions to the licence and, 
if necessary, modify these conditions. The licence is strictly personal and may not be transferred. 
3.76.  In general, the business licensing process remains lengthy and cumbersome.26 Officially, it 
takes 30 working days for the issue of licences, but in practice it can take months.27 A one-stop 
window has been established at the Chamber of Commerce and Industry with a view to 
streamlining licensing process for entrepreneurs. 
3.77.  According to the World Bank, Suriname ranks 164th out of 185 economies on the ease of 
starting a business. The process requires an average of 13 procedures, takes 694 days, costs 
115% of income per capita, and requires paid-in minimum capital of 0.5% of income per capita.28 
With some 500 days on average, obtaining the President's approval for the company's articles of association is the lengthiest procedure in establishing a limited liability company. The authorities 
have indicated that the length of this procedure has recently improved; however, no legal 
instrument was adopted in that regard. 
                                               
24 WTO document, G/SCM/N/186/SUR, 6 May 2009. 
25 Specific rules have been promulgated on qualificat ion requirements for archit ects and engineers, and 
on standards of creditworthiness, commercial practice, an d professional skill in the hotel and tourist industry. 
26 WTO document WT/TPR/S/135, 14 June 2004. 
27 U.S. Commercial Services (2010).  
28 World Bank (2013).  WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.3.3  Competition policy and price controls 
3.3.3.1  Competition policy 3.78.  Suriname does not have a generic comp etition law. However, the revised Treaty of 
Chaguaramas recognized the development of an effective competition regime (at both regional and 
national levels) as key to the the smooth functioning of the CARICOM single market, and it set up 
the CARICOM Competition Commission, which is based in Suriname. The CARICOM Competition Commission (CCC) is charged with enforcement and the Caribbean Court of Justice serves as the 
appeal mechanism.
29 In 2003, the CARICOM developed a model law on competition.  
3.79.  The CCC was inaugurated in 2008 in Paramaribo. As of 2012, it had not initiated any 
enforcement procedures. In substance, CARICOM Competition rules cover agreements and concerted practices that have the object or effect of preventing or substantially lessening 
competition, and abuse of dominant position. However, they do not cover mergers and state aids. 
Upon their establishment, national competition authorities are responsible for investigating and disciplining firms engaged in anti-competitive cond uct within national borders. The CCC is to work 
closely with national authorities to conduct investigations and to take legal action and impose 
sanctions through national courts. 
3.80.  Under Chapter 8 of the Revised Treaty, all CARICOM countries are required to enact specific 
rules on competition and to establish domestic competition authorities. According to the 
authorities, a competition bill ( Mededingingswet ) is being drafted under the responsibility of the 
Ministry of Trade and Industry; the process is at  its final stage. The draft bill basically covers 
mergers, anticompetitive agreements, and abuse of market dominance. The Suriname Competition 
Council (Surinaams Mededingingsraad, SMR) will be in  charge of its implementation. It will operate 
under the responsibility of the Ministry in charge of Trade and Industry, and it is expected to be a 
semi-judicial body.  
3.81.  Once enacted, mergers and acquisitions should be investigated by the SMR, depending on 
the distortive effects of their market share and the similarities in the business of the parties to the 
merger. Mergers and acquisitions are flagged as anticompetitive when they control more than 40% 
of the market. 
3.82.  Under the competition bill, in order to en sure that prices are market-determined and that 
there are no barriers to new entrants, the SMR will be responsible for regulating anticompetitive behaviours, including abuse of market dominance, i.e. cases where, due to the behaviour of a 
dominant player, unfair purchase or selling prices are directly or indirectly imposed, and/or where 
production, market access, investment, or distribution are restricted.  
3.83.  Under the bill, exemptions may be granted for some restrictive practices, such as where the 
actions of the firm are aimed at improving production or distribution of goods or services, or 
promoting economic and technological development, which will result in advantages for consumers. Exemptions may also be granted for firms that hold an intellectual property right 
(IPR).  
3.84.  The bill also provides for investigative, sanction, and appeal mechanisms.  3.3.3.2  Price controls 3.85.  In principle, under the Law on Price Setti ng and Monitoring, SB 1996 No. 021, the Ministry 
of Trade and Industry is authorized to determin e the maximum price or mark-up for any good or 
service sold in Suriname. Gasoline and cooking gas prices are currently regulated under this arrangement.  
3.86.  A price control framework is in place, on an ad hoc basis, for a list of 44 products of primary 
necessity. The Ministry in charge of Trade may interven e to fix the price of any good on the list if it 
rises by over 15%.  
                                               
29 Menns and Decoursey (2011). WT/TPR/S/282/Rev.1 • Suriname  
 
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  3.87.  In addition, maximum permitted mark-ups range from 10% to 22% at wholesale and 15% 
to 35% at retail. Mark-ups are determined on the basis of factory cost for goods produced domestically, and on the c.i.f. value plus customs duties and other taxes for imports. 
3.88.  Tariffs of public utilities are also regulated in Suriname. The Ministry of Natural Resources 
may be involved in setting power and water tariffs, while the Ministry of Transport, 
Communications and Tourism sets the tariffs for te lephone services, public transport, and ferry 
fees. 
3.3.4  Government procurement 
3.89.  The regulatory framework for government procurement continues to contain inconsistencies 
(such as lack of transparency). There is no stand-alone government procurement law in Suriname, but provisions related to government procurement are contained in a set of legal instruments.  
3.90.  The Accounting Law ( Comptabiliteitswet ) 1952, as amended in 1969, requires the use of 
open tendering (public tender) as the preferred pr ocedure in the procurement of works, supplies, 
and transport by government agencies, but it also allows for alternative methods in exceptional 
cases. Pursuant to the Accounting Decree of 1953, alternative procurement methods are used only 
for the purchase abroad of goods that are difficult to obtain in Suriname and for procurements below a specified threshold. In 2011, the Accounting Decree was amended to raise the threshold 
from SRD 30,000 (approximately US$10,500) to SRD 1,500,000 (approximately US$525,000).  
3.91.  There are four alternative procurement meth ods: tender with prior selection, tender with 
limited invitations, limited tendering after selection, and a simplified procurement procedure (where an abridged period applies, compared with open tendering). No data were available on the 
relative value of each procurement method. 
3.92.  An open tender should be made public at least 42 days before the procurement. A 
contractor may request information regarding the outcome of the contract award. However, the 
Decree does not have dispute settlement provisions.  
3.93.   In 2011, the annual report of the Surina mese Auditor's Office identified the use of 
45 alternative procurement procedures; furthermore, in 38 cases, no report was made to the 
Parliament, in violation of the Accounting Law.
30  
3.94.  In general, each Ministry is in charge of  executing its own procurement activities. However, 
the power to award contracts, in the last resort, is with the Council of Ministers.  
3.95.   In order to qualify to bid in public contracts, participants must have a valid business licence 
and/or be registered with the Chamber of Commerce. There is no explicit barrier to foreign 
participation, but tenders are usually advertised only in national publications. In cases where external donors are financing the procurement, their source-bidding procedures may be used. 
3.96.  In 1975, the Ministry of Public Works adopted specific regulatory provisions on the 
procurement and execution of works; some other ministries also use them in their procurement. In 1996, the Ministry of Public Works issued three dr aft regulations on the procurement of works, the 
procurement of services, and the execution of works.  
3.97.  Efforts are under way, in the context of the Inter-American Development Bank's (IDB) 
Public Sector Management Strengthening Progra m (PSMSP), to improve the procurement system 
in Suriname. These include: the development of a procurement regulatory framework on the basis 
of internationally accepted practices, the esta blishment of the National Public Procurement 
Regulatory Office, and the creation of a pr ocurement information system and web portal. 
3.98.  In order to ensure CARICOM members guaran teed access, predictability, and reliability of 
participation, as well as the certainty of protection with regard to procurement, the Revised Treaty 
of Chaguaramas, requires all CARICOM members to accord national treatment to contractors from 
                                               
30 Star Nieuws , "Rekenkamerrapport: "Brutoverslag", mooi in zijn lelijkheid". Viewed at 
http://www.starnieuws.com/index.php/welcome/index/nieuwsitem/12157 .  WT/TPR/S/282/Rev.1 • Suriname  
 
- 40 - 
 
  other CARICOM countries. This provision is yet to be brought into operation. However, its full 
implementation would necessitate differential requirements among the member states, as regards mainly their levels of development.  
3.99.  State-owned enterprises have autonomy in matters of procurement, and have adopted their 
own regulations in this regard. 
3.100.  Suriname is neither a member nor an observer to the Agreement on Government 
Procurement in the WTO. 
3.3.5  State-trading, state-owne d enterprises, and privatization 
3.101.  In 2009, Suriname notified that it does not maintain any state enterprises in accordance 
with Article XVII:4(a) of GATT 1994 and Paragraph 1 of the Understanding on the Interpretation of 
Article XVII.
31 However, it continues to maintain a large number of partially or fully state-owned 
entities in most strategic sectors of the economy,  including oil, banking, agriculture, energy and 
utilities, transportation, and tourism (Table A3.3).32  
3.102.  Some sources indicate that a number of Surinamese state-owned enterprises are poorly 
managed and are financially unhealthy. The Government has recently taken steps to assess the 
accounts of several state-owned enterprises.33  
3.103.  In 2011, the Government selected 12 state-owned enterprises to be privatized. Only four 
are presently active, among them the National Banana Company SBBS, the National Dairy 
Company, and the National Shrimp Company SAIL. The companies were placed under the 
management of the Investment and Developmen t Corporation Suriname (IDCS), which is the 
parastatal entity in charge of planning and executing the privatization process.34 No timetable has 
been presented for the sales, and little progress has been made. Recently, the President expanded 
the list of companies scheduled for privatization to include Telesur (the government-owned telecommunication services provider),  Surinam Airways, and Hakrinbank.
35 
3.3.6  Intellectual property rights 
3.104.  Suriname is a member of the World Intellectual Property Organization (WIPO), and has 
signed various international intellectual property rights treaties (Table 3.3). Despite its 
membership of multiple IPR-related agreements, there remains little adherence to the rules and 
disciplines of these agreements, as they are yet to be fully integrated into the country's legislation.  
Table 3.3 Membership in intellectual property protection treaties, 2013 
Convention/agreement Date of membership 
Berne Convention for the Protection of Litera ry and Artistic Works (1886) 23 February 1977  
Hague Agreement Concerning the International Deposit of Industrial 
Designs (1925) 25 November 1975 
Nice Agreement Concerning the International Classification of Goods and 
Services for the Purposes of Registration of Marks (1957) 16 December 1981 
Paris Convention for the Protection of Industrial Property (1883) 25 November 1975  
Strasbourg Agreement Concerning the International Patent Classification 
(1971) 25 November 1975 
WIPO convention 25 November 1975 
Source: WTO Secretariat, based on WIPO  online information, "C ontracting Parties or Signatories to Treaties 
Administered by WIPO". Viewed at: http://www.wipo.int/treaties/en/ShowResults.jsp?country_id=161C .  
                                               
31 WTO document G/STR/N/11/SUR, 13 May 2009. 
32 IMF (2009).  
33 IMF (2012). 
34 U.S. Department of State (2012). 
35 Economist Intelligence Unit online information. Viewed at: 
http://country.eiu.com/article.aspx?articleid=719468856&Country=Suriname&topic=Economy&subtopic=Forec
ast&subsubtopic=Economic%20growth&u=1&pid=889289473&oid=889289473&uid=1  [October 2012]. WT/TPR/S/282/Rev.1 • Suriname  
 
- 41 - 
 
  3.105.  Suriname has notified to the WTO that the Bu reau of Intellectual Property of the Ministry of 
Justice and Police is the contact point establishe d for the purposes of Article 69 of the TRIPS 
Agreement.36 Currently, the Bureau only registers trademarks. According to the authorities, 
approvals may take up to two years. 
3.106.  In 2003, the authorities indicated that Su riname had not yet ratified the WTO Agreement 
on Trade-Related Aspects of Intellectual Property Rights (TRIPS). They indicated that, to remedy 
this situation, new legislation pertaining to IP Rs was being drafted with the assistance of the 
International Bureau of WIPO.  
3.107.  In April 2001, Suriname notified the draft In dustrial Property Act, under Article 63.2 of the 
TRIPS Agreement.37 The current legal framework pertaining to IPRs consists of several laws, most 
of which were first introduced in 1912 and 1913. In practice, these laws do not provide for the 
protection of neighbouring rights in copyright, geog raphical indications, industrial designs, patents, 
utility models, layout-designs (topographies) of integrated circuits, undisclosed information, or new plant varieties (Table 3.4). A new law was presented to the National Assembly in 2004 but 
was not discussed. 
Table 3.4 Overview of IPR protection, 2012 
Coverage Duration Selected exclusions and limitations Main legal 
sources 
Copyright    
Literary, scientific, or 
artistic works 50 years from the 
first of January of 
the year following 
the year of death of 
the creator of the 
work Law does not provide for rental right; 
no protection granted to performers, 
producers of phonograms and 
broadcasting organizations; no 
retroactive protection Law of 
22 March 1913 
concerning new 
copyright 
regulations, last 
amended in 1981 
Trade marks    
Marks for the 
distinction of a 
company's goods 
from the goods of 
another  Ten years from the 
date of filing, 
renewable Services cannot be protected; 
protection of elements such as sound, 
perfumes, and containers is not 
provided for in the law; no protection 
granted to signs that are contrary to 
public order or morality Royal Decree 
No. 57 of 29 August 
1912, concerning 
provisions for 
trademarks, last 
amended in 2001 
Geographical 
indications     
No protection 
granted n.a. n.a. n.a. 
Industrial designs     
No protection 
granted n.a. n.a. n.a. 
Patents     
Inventions whose 
purpose is the 
production of 
something that is 
"industrially 
applicable" 20 years from the 
date of filing, 
non-renewable The rights of a patent holder do not 
extend to acts performed by any person 
who in good faith, before the filing date 
(or, where priority is claimed, before 
the date on which the patent is 
granted), was using the invention in 
Suriname or was making effective and 
serious preparations for such use; no 
protection granted to micro-organisms, 
non-essential biological processes, 
microbiological processes, and plant 
varieties; patents may be refused on 
the basis of public order or morality; 
compulsory licences may be granted in 
cases of "industrial" and "national" 
importance Royal Patent Law, 
last amended in 
1968 
Utility models    
No protection 
granted n.a. n.a. n.a. 
                                               
36 WTO document IP/N/3/Rev.4/Add.3, 12 September 2000. 
37 WTO document IP/N/1/SUR/I/1, 2 April 2001. WT/TPR/S/282/Rev.1 • Suriname  
 
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  Coverage Duration Selected exclusions and limitations Main legal 
sources 
Layout-designs 
(topographies) of integrated circuits    
No protection 
granted n.a. n.a. n.a. 
Undisclosed 
information    
No protection 
granted n.a. n.a. n.a. 
n.a. Not applicable. 
Source: WTO Secretariat. 
3.108.  Trademarks should be registered through  the Bureau of Intellectual Property . Under the 
trademark legislation, the exclusive right to use a trademark belongs to the party who has made first use of a mark (sale, or provision of the related goods in the local market) in Suriname to 
distinguish his goods from those of others. First use may also be based on advertising the goods in 
local or international media published or sold in Suriname or of which broadcasts can be received in Suriname. Pursuant to the law however, registration of a trademark is recommended to prevent 
disputes regarding identical or confusingly similar trademarks, given that in such cases the burden 
of proof, as to the first user of the ma rk, is on the registrant's opponent.  
3.109.  In principle, all registrations are published in the Government Gazette, and registered 
marks can be challenged within six months after their publication. Suriname is not a member of 
Madrid Protocol.  
3.110.  In compliance with the Law, the patent righ t is an exclusive right granted to the inventor 
of a novel product or method, or an improvement of a product in an industry. There is no 
administrative setting for patents registration in Suriname. 
3.111.  The Patent Law is not explicit as regards exhaustion of IPRs. Article 30 of the Patent Law 
grants the right holder the exclusive right to pr oduce, distribute, sell, rent, deliver, and use a 
patented invention. In the context of Suriname's review of legislation in the TRIPS Council, the 
authorities noted that, under Article 30 of the Patent Law, the importation into Suriname without the consent of the Surinamese right holder of goods put on the market in another country with the consent of their legitimate right holder could be considered as an infringement of the latter's 
right.
38 However, the authorities indicated that in practice, parallel imports are allowed. According 
to the authorities, Suriname's laws governing copyrights and trademarks do not mention parallel imports. 
3.112.  No provisions exist under the laws of Suriname for border protection against trademark 
counterfeits or copyright piracy. 
 
 
   
                                               
38 WTO document IP/C/W/283, 15 June 2001. WT/TPR/S/282/Rev.1 • Suriname  
 
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  4  TRADE POLICIES BY SECTOR 
4.1  Agriculture 4.1.  Agriculture remains an important sector in the economy of Suriname as it represents about 
4% of GDP
1 and employs about 11,000 people. Although  the value of agriculture production 
relative to the rest of the economy has declined  from 14% in the 1990s, this is due to faster 
growth in other sectors. On its own, the value of agricultural production increased by 36% in real terms from 2006 to 2010
2 although this was partly the result of higher prices as well as greater 
production.  
4.2.  Only about 1.5 million ha out of Suriname's total land area of 16.4 million ha is suitable for 
agriculture, of which only about 120,000 ha are ac tually used, mostly on the coastal plain with 
subsistence farming in the interior. The majority of farmers are small holders, with the exception 
of bananas products, which is primarily by the state-owned Stichting Behoud Bananen Sector 
(SBBS) which has two estates and employs about 1,900 people.3 
4.3.  The main crops in Suriname are rice, banana s, and vegetables. Apart from bananas, most of 
these are grown by small-scale producers. Traditio nally, livestock production has been small in 
comparison with crops, but in the past few years the value of production of chicken and cattle meat has increased considerably (Table 4.1). 
Table 4.1 Production of se lected commodities, 2005-11 
  2005 2006  2007  2008  2009 2010 2011  
Rice, paddy US$ million 19 23 25 61 47 53 .. 
 tonnes 163,955  182,659  179,012  182,877  229,370  226,686  235,298  
Chicken meat US$ million 16 15 25 28 32 40 .. 
 tonnes 6,500 5,867  9,590  8,326  9,258 11,324 10,035  
Bananas US$ million 16 20 22 31 38 33 .. 
 tonnes 57,830  64,555  71,084  88,724  82,267  94,272  84,791  
Cattle meat US$ million 5 6 6 6 7 15 .. 
 tonnes 1,338 1,610  1,594  1,726  1,891 1,882 1,940  
Oranges US$ million 7 10 9 9 11 12 .. 
 tonnes 12,800  13,610  13,651  13,454  12,709  15,138  14,976  
Vegetablesa  US$ million 22 26 20 14 18 22 .. 
 tonnes 24,755  23,214  19,491  16,859  17,112  18,408  18,138  
Total  US$ million 115 131 151 193 206 225  
.. Not available. 
a Vegetables = avocados + beans, green + cabbages and other brassicas + cassava + cucumbers and 
gherkins + pulses, nes + roots an d tubers, nes + sweet potatoes + tomatoes + vegetables fresh 
nes. 
Note: FAOStat indicates significant production of sugar cane which, according to the authorities is 
incorrect.  
Source: FAOStat online database. Viewed at: http://faostat.fao.org  [September 2012]. 
4.4.  Agriculture in Suriname faces several constraints. Production is concentrated on a small 
range of products, while research and developm ent, technological transfer, plant and animal 
health services, and rural information systems are inadequate. Furthermore, drainage, irrigation, and transport infrastructure need improvement.
4 The outdated land tenure system also acts as a 
disincentive to investment as well as restricting producers' access to credit.5 
                                               
1 Central Bank of Suriname (2010), Bijlage VI.3, p. 76. 
2 Central Bank of Suriname (2010), Tabel II.1, p. 8. 
3 Milton (2009). 
4 Government of Suriname (2012), p 183. 
5 IADB (2011). WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.1.1  Trade6 
4.5.  Suriname is a net importer of agricultural  goods (Table 4.2). The main exports are rice and 
bananas, which make up nearly 80% of total exports of agricultural products, almost all of which go to the EU under preferential arrangements. Although the margin of preference granted to 
Suriname for both bananas and rice has been eroded, the trend for both the value and quantity of 
exports has been upwards for the past few years. 
Table 4.2 Exports and imports of sele cted agricultural products, 2007-11 
HS   2007  2008  2009 2010 2011  
 Total exports 
agricultural products US$ million 35.433  55.494  54.495 67.940 81.793  
1006 Rice tonnes 52,500 52,641 51,941 89,412 46,109 
  US$ million 15.448 27.398 20.279 34.274 31.118 
0803 Bananas tonnes 57,135 65,750 58,132 70,239 68,138 
  US$ million 16.634 22.549 25.916 24.610 34.407 
2202 Water sweetened or 
flavoured US$ million 0.636 2.264 3.363 2.510 5.497 
07 Fruit and vegetables US$ million 1.86 1.140 1.039 1.283 1.600 
2106 Food preparations US$ million 0.299 0.280 0.326 0.941 2.235 
 Total imports 
agricultural products US$ million 92.637  281.669  145.061 405.862 223.450  
2402 Cigars, cigarettes US$ million 3.724 15.258 18.380 19.564 21.006 
0207 Meat of poultry US$ million 13.788 16.300 15.572 16.753 20.444 
2106 Food preparations US$ million 14.103 15.280 14.850 15.865 17.679 
1701 Sugar US$ million 10.229 8.174 9.133 14.504 17.476 
1507 Soy-bean oil US$ million 9.558 14.604 10.300 12.396 15.630 
Source: WTO Secretariat, based on informatio n provided by the Suriname authorities. 
4.6.  Imports are more broadly based than exports, the top five imports accounting for about 41% 
of total agricultural imports. The main sour ce of imports depends on the product: food 
preparations come from the United States, Trin idad and Tobago, and the Netherlands; chicken 
meat from the United States, and Brazil; and soybean oil from the Netherlands, and Brazil.7 
4.1.2  Policies 
4.7.  The Ministry of Agriculture, Livestock and Fisheries is the main government agency 
responsible for agriculture policy in Suriname although responsibility for specific issues is shared with other ministries including Regional Development; Foreign Affairs; Planning, Land and 
Forestry; Justice and Law Enforcement; Public Works; Natural Resources, Trade and Industry; 
Education and Community Development; Health; Transportation Communications; Tourism and Labour Technological Development; and Environment.  
4.8.  Apart from a law on labelling of pesticides  that was approved in 2008, there have been no 
changes to legislation on agriculture. Other agriculture-related legislation includes: 
 the National Decree of 2 September 1960 Establishing a Regulation Regarding the Export 
and Import of Hulled and Unhulled Rice and Rice Products;  
 the National Decree of 18 October 1964, Public  Decree 1936, No. 77 (last amended by Public 
Decree 1954, No. 84 concerning cattle and fresh meat exports, which are prohibited without a written licence);  
 Order No. 23 of 1954 to prevent animal diseases along with several other laws and 
regulations relating to sanitary and phytosanitary measures (Chapter 3); and  
                                               
6 For the purposes of this section of  the Report, the definition of agriculture products used is that set out 
in Annex 1 of the Agreement on Agriculture where fish and fish products are taken to include HS Headings 
0208.40, 03, 0511.91, 1504, 1603, 1604, 1605, and 2301.20. Fisheries are addressed in section 4.2 below.  
7 UNSD Comtrade (2012), based on data from importing countries. Viewed at: http://comtrade.un.org/  
[December 2012]. WT/TPR/S/282/Rev.1 • Suriname  
 
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   the National decree of January 25, 1967, relating to fertilizers for cultivated plants (exports 
are prohibited without a written licence).  
4.9.  Suriname's bound tariffs are 20% for nearly all agriculture goods, with a 50% ceiling on 
other duties and charges. Suriname did not rese rve the right to use the special agricultural 
safeguard or export subsidies and did not make any commitments on tariff quotas.  
4.10.  As part of the negotiations on agriculture under the DDA, Suriname sought to "rebind its 
agricultural tariffs on a line by line basis at the level of the average bound tariff of Antigua and 
Barbuda, Barbados, Beli ze, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, 
Saint Lucia, Saint Vincent and the Grenadines, and Trinidad and Tobago resulting from these modalities."
8 The authorities indicated that they were once again considering whether to seek 
negotiations under Article XXVIII of GATT; a request for negotiations was withdrawn in 
January 2012.9  
4.11.  On average, applied MFN tariffs for agricultural products, at 19.5%, are considerably higher 
than for non-agricultural products. The rates also vary considerably from one product to another 
w i t h  s o m e  p r e p a r e d  f o o d  p r o d u c t s  a t  5 0 % .  W h i l e a considerable proportion are duty-free, the 
median rate for agricultural products is 40%.  
4.12.  Government policy, as set out in the Multi-annual Development Plan 2012-2016, aims to 
overcome the serious constraints facing the sector in order to achieve food security, food safety, 
and to become a food supplier to the Caribbean, and to increase the contribution of agriculture to the economy. To meet these goals the Plan calls for improvements in productivity in 
environmentally sustainable ways, more efficient use of resources, and less seasonally based 
production. The Plan focuses on the palm oil, rice , fruits and vegetables, banana, floriculture, and 
livestock subsectors.
10 
4.1.2.1  Rice 
4.13.  In value terms, rice is the most importan t agricultural product and the second most import 
agricultural export. Over the past ten years, the trend for the area under rice production and yields (and, therefore, production) has been upwards, but the improvement in yields has been relatively 
small and the area harvested is much less than in the early 1970s (Chart 4.1). Rising input costs, 
poor infrastructure, and limited access to finance were among the reasons for the decline. Although nearly 55,000 ha of rice are harvested ea ch year, in most cases this is the result of 
double cropping and only about half this area is actually under cultivation. According to the 
Ministry of Agriculture, Livestock and Fisheries, the objective is to increase the area under 
cultivation to 35,000 ha. 
4.14.  Government policy is focused on improving infrastructure (including machinery), access to 
inputs (such as by reducing tariffs on imports of fertilizers), improving quality (through testing 
facilities and education and training), and better access to finance for producers and processors.
11 
In 2010, the Government created a Rice Commission with the objective of increasing rice 
production and exports. The Commission developed a plan aimed at increasing production through 
increased land under cultivation and improving irrigation, equipment and production processes. However, productivity has been affected by shortages of fertilizer, attributed to the late delivery of 
Government-supported imports through the PetroCarib e Agreement, at prices higher than could be 
obtained elsewhere.
12  
4.15.  Rice exports are subject to a tax of SRD 10 per tonne. On the other hand, rice farmers are 
eligible for support related to fuel use, with about 1,270 farmers receiving a total of US$1.7 million 
in 2006.13 According to the Central Bank, SRD 12 million was set aside to support rice farmers 
in 2010.14 
                                               
8 WTO document WT/TN/AG/4/Rev.4, footnote 10 
9 WTO document G/SECRET/17 of 30 October 2002 and G/SECRET/17/Add.2 of 13 January 2012. 
10 Government of Suriname (2012), pp. 183-188. 
11 Ministry of Agriculture, Livestock and Fisheries (2008).  
12 U.S. Department of State (2012). 
13 Graanoogst AW (2007), p. 8. 
14 Central Bank of Su riname (2010), p. 10. WT/TPR/S/282/Rev.1 • Suriname  
 
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  Chart 4.1 Rice production, area, and yield, 1980-11 
 - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000
1980 1985 1990 1995 2000 2005 2010Area Harvested (Ha)
Yield (Hg/Ha)
Production (10 tonnes)
 
Source: FAOState online database. Viewed at: http://www.faostat.ofa.org . 
4.16.  In addition to encouraging rice cultivation, Government policy is also aimed at increasing 
yields through research and development, training , and improved cultivation through the Anne van 
Dijk Rice Research Centre (ADRON), which is part of the National Rice Research Foundation 
(SNRI), a para-statal organization that reports to the Ministry of Agriculture, Livestock and Fisheries. ADRON's research is focused on impr oving yields through better varieties, fertilizer 
management, pest and disease control, land preparation, and quality management.
15 ADRON's 
total income in 2010 was SRD 1.82 million, of which SRD 0.44 million was from the sector and SRD 1.05 million from the Government.
16  
4.17.  Under the EU's support programme for the competitiveness of the rice sector in the 
Caribbean, €9.255 million was allocated to Suriname for 2008-13. The project is run by 
CARIFORUM and provides for capacity building, cred it, and rehabilitation of irrigation canals. A 
further €2 million was allocated for technical assistance, training and research.17  
4.18.  The Ministry of Public Works is responsible for management of the main waterways and 
other infrastructure in Suriname, while irrigation  canals used by rice and other farmers are the 
responsibility of the Ministry of Agriculture, Live stock and Fisheries. This infrastructure has been 
estimated to represent the main support to rice farming at about US$1 million in investment in 
2006.18 According to the Central Bank, under the National Rice Action Plan (Nationaal 
Rijstactieplan) SRD 2.7 million was spent in 2007 on maintenance of infrastructure, SRD 1 million on improving water supply to the Corentyne Multipurpose Project, and €3.8 million for 
maintenance of the Corentyne Channel.
19  
4.19.  The Suriname Financial Facility (SURFF) (€3.5 million) was established for rice in 2005 and 
the Agriculture Credit Fund (AK) (€2.3 million) for other commodities in 2007. Both facilities are 
managed by the Landbouwbank.20 However, according to the authorities, the SURFF facility has 
                                               
15 ADRON online information. Viewed at: http://www.adron.sr/index.html  [December 2012]. 
16 SNRI/ADRON (2011), p. 6. 
17 Republic of Suriname/European Co mmunity (2007), pp. 25, 51, and 64. 
18 Graanoogst AW (2007), p. 17 
19 Central Bank of Su riname (2010), p. 17. 
20 Ministry of Trade and Industry (2010), p. 43. WT/TPR/S/282/Rev.1 • Suriname  
 
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  not been in operation since September 2011, while the AK facility is now available for agriculture 
generally and has a total outstanding loans of abou t SRD 1.6 million at an interest rate of 6.75%. 
4.1.2.2  Bananas 4.20.  In value terms, bananas are the second mo st important agricultural product in Suriname 
and the most important agricultural export. Comme rcial production started in the 1960s and grew 
rapidly to nearly 50,000 tonnes in ten years, and then stabilized at about 45,000 tonnes until it almost disappeared in 2002 following the collapse of the state-owned producer Surland NV. Since 
then, under the state-owned Stichting Behoud Ba nanen Sektor (SBBS), the sector has recovered 
quickly with support from the EU, under the Special Framework of Assistance (SFA) for traditional ACP suppliers of bananas, and the Government. Production reached a record level of 94,272 tonnes in 2010, mostly as a result of increased yields (Chart 4.2), and export values 
increased to SRD 111 million in 2011 despite a small decline in export volumes. 
Chart 4.2 Banana production, area, and yields, 1980-11  
 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000
1980 1985 1990 1995 2000 2005 2010Area Harvested (Ha)
Yield (10kg/Ha)
Production (10 tonnes)
 
Source: FAOState online database. Viewed at: http://www.faostat.ofa.org .  
4.21.  SBBS was mandated by the Government to manage the restructuring of Surland NV, which 
remains the sole producer and exporter of bananas with about 1,550 ha under cultivation and 
2,400 employees. SBBS was also mandated to organize Surland's privatization. In March 2005 and 
July 2008, the Government issued calls for expressions of interest in privatizing the company but (as of March 2013) it remains in state-ownership. 
4.22.  EU allocations for the banana industry in Suriname, through the SFA, averaged €2.18 
million a year while it was in operation from 1999 to 2008.
21 The funding was used to increase 
productivity, improve quality (including meetin g EurepGAP and/or ISO 14001 quality standards), 
and improve handling, packaging, and storage faci lities. In addition, the EU decided in 2012 to 
provide €9.3 million under the Banana Accompanying Measures Programme.22 
4.23.  The total investment programme in the banana sector for 2003-12 was valued at 
US$30 million, with 70% from the SFA and 30% from SBBS. The EU is the main export market 
where Suriname has duty-free access under the CA RIFORUM-EU EPA. With the preference margin 
                                               
21 European Commission (2010), pp. 5 and 14. 
22 European Commission (2012), p. 6. WT/TPR/S/282/Rev.1 • Suriname  
 
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  for bananas exported to the EU set to decline in annual steps from €148 per tonne in 2010 to 
€114 per tonne in 2017, Suriname is under pressure to increase productivity and improve quality in order to compete with other banana producing countries.
23 
4.1.2.3  Livestock 
4.24.  Chicken meat is the main livestock product in Suriname. Production of chicken meat 
increased by 75% in volume terms and 150% in value in 2010 compared to 2004, reaching 11,237 tonnes and US$40 million. However, Suriname remains a net-importer of chicken meat 
with little exported but imports of US$ 17 millio n or 17,297 tonnes in 2011. In value terms beef is 
the second livestock product in Suriname, worth about US$15 million in 2010, about three times higher than in 2004, although the quantity pr oduced did not increase by the same level 
(Table 4.1). 
4.25.  Despite the increase in production of poultry meat, it has been reported that the number of 
producers has fallen considerably as the domestic industry had to respond to competition from imports by increasing productivity.
24 
4.1.2.4  Fruits and vegetables 
4.26.  In general, fruits and vegetables are grown by small and part-time producers on a total of 
about 1,000 ha, with farm sizes varying from very small (0.08 ha) to small (2 ha). Production is 
characterized by labour and input-intensive production.25 According to the authorities, the policy 
focus is on training and education to encourage producers to move to protected production systems away from open-field production. 
4.2  Fisheries 
4.2.1  Features 
4.27.  Fisheries represents about 2.3% of GDP in Suriname and employs about 5,000 people.  4.28.  The total fisheries catch in Suriname has fluctuated over the past few years although higher 
prices have increased the total value of the catch. Within the fisheries sector, the capture of 
shrimps and prawns has declined while fish capture has increased. Data are not available on the species caught, and FAOStat figures may not be co nsistent from one year to the next as the 
distribution of the marine catch among different  categories appears to have changed after 2005 
(Table 4.3). 
Table 4.3 Fisheries production, 2003-10 
(Tonnes) 
 2003 2004  2005  2006  2007  2008 2009 2010  
Freshwater          
Shrimps, prawns  260 288 242 180 51 28 34  
Miscellaneous freshwater 
fishes  222 242  218 200 350 350 420  
Tilapias and other cichlids  -  -  -  -  1  10  6  
Marine         
Crabs, sea-spiders  -  30 20 20 15 12 -   
Shrimps, prawns  16,330 12,467  10,626  11,340  9,213  6,270 9,374  
Marine fishes          
Marine fishes not id entified  2,130 2,571  3,736  19,061  20,049  17,179 16,037  
Miscellaneous coastal fishes  12,063 13,131  11,056  -  -  -  -   
Miscellaneous demersal 
fishes  411 433  328 -  -   -  -   
Miscellaneous pelagic fishes  674 872 670 -  -  -  -   
Sharks, rays, chimaeras  267 291  155 -  -   -  -   
Tunas, bonitos, billfishes  385 365 601 -  -  -  -   
                                               
23 European Commission (2012). 
24 Jagai (2011). 
25 Milton (2009). WT/TPR/S/282/Rev.1 • Suriname  
 
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   2003 2004  2005  2006  2007  2008 2009 2010  
Total capture 32,742 30,690  27,652  30,801  29,679  23,849 25,871 34,473  
Aquaculture         
Aquaculture  260 288  242 180 52 38 41 71  
Source:  FAO Global Production Statistics online database. Viewed at: 
http://www.fao.org/fishery/statistics/global-production/query/en .  
4.29.  The fishing fleet in Suriname can be divi ded between the industrial and the artisanal. The 
industrial fleet is made up of shrimp trawlers, trawlers, hand-lines, and long-lines (Table 4.4). 
Most of the landing sites are in Paramaribo, where all processing plants are located. The artisanal 
fleet, which operates in coastal and inland waters, is made up of small boats and canoes often engaged in subsistence fishing. Aquaculture is small relative to the capture industry and is made up of two commercial farms for brackish water shrimp and tilapia. 
Table 4.4 Fishing fleet, 2006-12 
Type of vessel 2006  2007  2008  2009  2010 2011 2012  
Total industrial fleet 148  158 91 132 139 114 135  
Shrimp trawlers 37 47 18 27 25 26 25 
Seabob trawlers 25  28 24 25 20 19 22  
Fish trawlers 10 9 12 11 9 21 23 
Fish trawlers (pelagic) 10  10 11 9 18 8 16  
Snapper and makreelliners 66 64 26 60 65 40 49 
Total coastal fleet 422  406 403 354 331 318 383  
Open Guyana boats 327 298 303 258 242 223 279 
Total inland and estuarine fleet 589  547 515 557 663 902 660  
Chinese seine 247 252 248 246 252 340 260 
Sport 73  80 99 118 186 362 230  
Source: Information provided by  the Suriname authorities. 
4.30.  Most landings are made in or near Paramaribo where most of the facilities are situated. Two 
state-owned companies, Surinam American Industries Limited (SAIL) and the Central Fisheries 
Port Suriname (CEVIHAS), along with several priv ate enterprises have their own port facilities and 
provide services to the fishing fleet. SAIL and Heiploeg Group operate the Suriname Atlantic 
seabob shrimp fishery, which was certified by the Marine Stewardship Council in November 2011 
as being sustainably managed.26  
4.31.  Suriname has a trade surplus in fish and fish products. Although exports of crustaceans 
have declined sharply since 2007, exports of fillet s have increased (Table 4.5). Based on data from 
importing countries, the United States is the main importer, taking nearly half the total value, 
followed by Jamaica and the Netherlands.  
Table 4.5 Trade in fish and fish products, 2007-11 
(US$ million) 
HS  2007  2008  2009 2010 2011  
 Total exports of fishery products 34.2  20.6 28.0 23.3 33.7  
0306 Crustaceans 23.2 16.6 14.7 11.5 16.1 
0304 Fish fillets 2.9  3.0 5.3 4.7 7.1  
0303 Fish, frozen, excluding fillets 5.4 5.1 6.5 5.6 6.6 
0302 Fish, fresh or chilled, excluding fillets 2.0  1.5 1.3 1.2 3.6  
 Total imports of fishery products 4.7 4.2 5.1 5.6 4.6 
1604 Prepared or preserved fish 3.4 2.6 4.0 4.5 2.9 
0305 Fish, dried, salted, in brine, smoked 0.7 1.0 0.8 0.9 0.9 
0302 Fish, fresh or chilled, excluding fillets 0.1 0.0 0.0 0.0 0.6 
Source: WTO Secretariat, based on informatio n provided by the Suriname authorities.  
                                               
26 Marine Stewardship Council online information. Viewed at: http://www.msc.org/track-a-
fishery/fisheries-in-the-program/certified/western-central-
atlantic/suriname_atlantic_seabob_shrimp/suriname_atlantic_seabob_shrimp/?searchterm=suriname  
[December 2012]. WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.2.2  Policies 
4.32.  The Fisheries Department in the Ministry for Agriculture, Livestock and Fisheries is 
responsible for planning, administration, licensing, monitoring, and research. Under the Agricultural Sector Plan 2006-10: a fish inspection institute was to have become operational 
in 2007; plans for residue and disease monitoring were to have been drawn up; and new laws to 
be passed for fisheries and aquaculture. 
4.33.  The private sector is represented by the Suriname Seafood Association, founded in 2004. 
4.34.  Current legislation covering fisheries includes: 
 Decree C-14 for marine fisheries; 
 the Fish Stock Protection Act, which was last revised in 1981 and includes the procedures for 
fishing licences in inland waterways; 
 the Sea Fisheries Act, which was last revised in 1981 and includes the procedures for fishing 
licences for fishing in the territorial waters and the exclusive economic zone; 
 the Fish Inspection Act, which entered into effect in 2000 and provides guidelines for 
exporting to the EU, Canada, and the United States; and 
 the Fish Inspection Decree, which entered into effect in 2002 to implement parts of the Fish 
Inspection Act.
27 
4.35.  Under the Multi-annual Development Plan 2012-2016, the contribution of fishing and fish 
processing to exports and employment are recogn ized, and the problems facing the sector are 
identified as the decline in catches; the low level of aquaculture production; outdated fishing vessels; illegal fishing; high costs; overfishing; outdated legislation; and education and training.
28 
4.36.  The conditions applied to fish licences are determined annually by ministerial decree, as 
provided for in Article 17 of the Sea Fisheries Act. The decree sets out the fishing zones, permitted fishing gear, and other conditions. Since 2007, Suriname has applied a vessel monitoring system 
to the industrial fishing fleet. 
4.37.  At the CARICOM level, the Caribbean Regi onal Fisheries Mechanism (CRFM) was inaugurated 
in March 2003 with the objectives of efficient management and sustainable development of marine 
and other aquatic resources, and establishing cooperative arrangements to manage shared 
resources as well as providing advisory services to the member states.
29 The CRFM developed a 
strategic plan for 2003-10 that focused on research, improving competitiveness, education and training, and included development of aquaculture. 
4.38.  Under the ACP Fish II programme, which is supported by the EU and has the overall 
objective of improving sustainable and equitable management of fisheries in ACP regions, Suriname is a party to several projects to update fisheries management plans; improve 
implementation of the common fisheries policy for the Caribbean; and related objectives.
30 
4.3  Minerals 4.39.  Minerals are important to Suriname's economy, with exports of alumina, gold, and 
petroleum representing over 90% of total exports. This also makes the economy vulnerable to 
changes in commodity prices. As in most capital-intensive sectors, employment in minerals 
                                               
27 FAO (2008), pp. 19-20. 
28 Government of Suriname (2012), pp. 189-190. 
29 CRFM online information, "Agr eement Establishing the Caribbean Regional Fisheries Mechanism". 
Viewed at: http://caricom-fisheries.com/LinkClick.aspx?fileticket=k2y%2b0jOz%2ffY%3d&tabid=124  
[March 2013].  
30 ACP Fish II online information. Viewed at: http://acpfish2-eu.org/index.php?page=projets-par-region  
[December 2012]. WT/TPR/S/282/Rev.1 • Suriname  
 
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  extraction and processing is relatively low while the industry accounts for a large portion of 
economic activity and investment.  
4.40.  Under the Constitution, natural resources are the property of the nation. Policy matters 
relating to minerals are the responsibility of the Directorate for Energy, Mining and Water 
Management in the Ministry of Natural Resources, although several other agencies are also 
involved including the Ministry of Finance, the Ministry of Labour, Technological Development and Environment, and the National Institute for Environment and Development in Suriname. The main 
legislation covering exploration and exploitation of mineral resources is in several laws, including 
the Mining Decree of 1986; the Bauxite Ordinanc e of 1919; and the Petroleum Law of 1990. A new 
Mining Act was approved by the Council of Ministers in 2004 but was not passed into law. 
4.41.  Under the Mining Decree of 1986, ownership of land and minerals are separate, with the 
state owning all minerals. Mining rights for radioactive minerals and hydrocarbons are reserved for 
state-owned enterprises, while mining rights for bauxite may be granted to state-owned and 
private enterprises, and mining rights for other minerals and building materials to state-owned and 
private enterprises, and natural persons. Expl oration and exploitation rights for bauxite, 
radioactive minerals, and hydrocarbons are grante d by resolution drafte d by the Ministry of 
Natural Resources and approved by the Council of Ministers, the state Council and the National 
Assembly; it enters into force after having been signed by the President and published in the 
Staatsblat . Exploration and exploitation rights for other minerals and building materials may be 
granted by the Minister of Natural Resources, and may only be transferred with the permission of 
the Minister.  
4.42.  There are five different type s of mining rights in Suriname: 
 reconnaissance rights for up to 200,000 ha for up to 3 years;  
 exploration rights for up to 40,000 ha for up to 7 years;  
 exploitation rights for up to 10,000 ha for up to 25 years (extendable);  
 small mining rights for up to 200 ha for 2 years (extendable for another 2 years); and  
 rights to exploit building materials for up to 400 ha for 5 years (extendable for an additional 
5 years). 
4.43.  In addition to the obligations set out in the Mining Decree, the granting of rights for the 
search for and the extraction of minerals usually includes additional terms and conditions. The Multi-annual Development Plan states that a mining institute is to be established to oversee the 
sector when the new mining law is adopted.
31 
Table 4.6 Production of minerals, 2004-10 
  2004  2005  2006  2007  2008 2009 2010  
Bauxite '000 dry tonnes 4,087  4,757  4,945  5,273  5,333 3,388 3,104  
Alumina         
Production '000 tonnes 2,015  1,940  2,133  2,178  2,154 1,536 1,486  
Exports '000 tonnes 2,025  1,946  2,127  2,162  2,177 1,536 1,505  
Price US$ per tonne 204  231 302 326 329 210 292  
Gold         
Exports         
Large scale  kg .. 10,081  9,483  7,959  10,271 12,103 12,196  
 US$ million  .. 138 184 180 288 385 473 
Small scale kg .. 11,667  12,105  14,253  16,466 16,497 17,752  
 US$ million  .. 159 235 322 461 525 688 
                                               
31 Government of Suriname (2012), p. 175. WT/TPR/S/282/Rev.1 • Suriname  
 
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    2004  2005  2006  2007  2008 2009 2010  
Oil         
Crude  million bbl 4.1  4.4 4.8 5.4 5.9 5.9 5.8  
Refined million tonnes 2.5 2.7 2.5 2.7 2.5 2.7 2.1 
.. Not available. 
Source:  Central Bank of Surina me (several issues), Annual Reports .  
4.3.1  Petroleum and gas 
4.44.  The state-owned Staatsolie Maatschappij Surina me N.V. is involved in exploration, drilling, 
production, refining, marketing, sale, and transp ort of oil. In 2011, Staatsolie had gross revenues 
of US$722 million, profits before tax of US$414 million, and contributed US$289 million to the 
Government through taxes and dividends.32 Staatsolie is also an electricity producer, through its 
subsidiary Staatsolie Power Company of Suriname NV (SPCS), a biofuel producer and, since its 
acquisition of Chevron Suriname in 2011, a retailer of petroleum products.  
4.45.  Although Suriname is a small producer of oil and petroleum products on the international 
market, production and refining are very importan t to the economy. There are about 88 million bbl 
of proven reserves, and production in 2010 was ab out 5.8 million bbl (Table 4.6), in line with 
Staatsolie's objective of 16,000 bbl per day by 2012.  
4.46.  Staatsolie operates the Tout Lui Faut refine ry with a capacity of 7,350 bbl per day of crude 
oil to produce diesel, fuel oil, and asphalt, most ly for the local market, with some exports to the 
Caribbean. SPCS operates a 14 megawatt power plant at Tout Lui Faut, which uses the steam 
produced for the refinery and sells the electricit y to the state-owned Energiebedrijven Suriname 
(EBS). According to the authoritie s, there are plans to double power generation capacity in Tout 
Lui Faut to 28 megawats. 
4.47.  Staatsolie has the right to explore for and ex ploit all hydrocarbons in Suriname although it 
may do so in cooperation with other companies. On its own and through its subsidiary, Paradise Oil Company NV, Staatsolie is involved in exploration as it tries to increase reserves. It has also been 
involved in joint ventures. In 2007, Paradise Oil and Staatsolie entered into production-sharing 
contracts with Tullow Oil plc for two onshore exploration blocks. In 2011, Tullow Oil withdrew from the licence and transferred 36.5% of its 40% share to Paradise Oil and 3.5% to PortSea. However, 
Tullow Oil plans to continue exploration in Block 47, a 2,369 km
2 deep water exploration licence it 
holds under a production-sharing contract in off-shore Suriname.33 In addition, under a 30-year 
exploration agreement signed in 2003, Repsol has the mining rights to Block 40, another offshore 
block of 4,997 km2.34 
4.48.  The Multi-annual Development Plan states that the exploration programme should continue, 
possibly in cooperation with third parties, with the objective of discovering new reserves so that production can be maintained at 16,000 bbl/day. It al so states that refining should be expanded to 
15,000 bbl/day.
35 
4.3.2  Bauxite and aluminium 4.49.  Historically, Suriname was the world's bigge st producer of bauxite, accounting for over a 
quarter of world production in the 1940s, but new discoveries and increased production in other 
countries have reduced its share to less than 2% of world production.
36 Although, bauxite is now 
imported from Brazil and processed into aluminium in Suriname, production of alumina has also 
declined in recent years (Table 4.6). 
                                               
32 Staatsolie (2012). 
33 Tullow Oil plc online information. Viewed at: http://www.tullowoil.com/index.asp?pageid=312  
[December 2012]; and Staatsolie (2012). 
34 Repsol online information. Viewed at: http://www.repsol.com/es_en/corporacion/conocer-
repsol/quienes-somos/presencia-global/surinam.aspx  [December 2012]. 
35 Government of Suriname (2012), pp. 177-178. 
36 U.S. Geological Survey (2012), p. 26. WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.50.  The main bauxite-alumina enterprises in Suriname are Alcoa of the United States and 
Aluminia Ltd of Australia. In 2009, Alcoa Worl d Alumina and Chemicals acquired BHP Biliton's 
share in Suralco, a joint venture with Aluminia. Also in 2009, a cooperation agreement was signed with the Bolivarian Republic of Venezuela under which technical and financial assistance is to be 
granted to the state-owned ALUMSUR company, which was set up in 2008. 
4.51.  Currently, bauxite is produced in several mines in the north-east of the country, close to 
Parmaribo and to the Paranam alumina refinery. The refinery uses electricity from the Afobaka 
hydroelectric plant, built and operated by Su ralco. The plant produces about 1 million Mwh 
annually, of which 80,000 Mwh are reserved fo r the Government of Suriname through EBS.
37 
Suriname has large reserves of bauxite in other parts of the country, particularly Bakhuis in the centre-west.
38  
4.52.  A statistical fee of 2% is charged on the f.o.b. value of bauxite exports and on the c.i.f. 
value of imports. Imports and exports of other prod ucts are subject to a statistical fee of 0.5%.  
4.53.  Government policy for bauxite is focused on  extending production to new areas as current 
mines become exhausted; new mines are planned in three areas, which should secure supply to 
the aluminium refinery until 2024.39  
4.3.3  Gold 
4.54.  The value of gold production and export s has increased considerably over the past few 
years along with the price of gold and production in the large- and small-scale sectors. The large-scale sector is the Rosebel Gold Mine, of which 95% is owned by IAMGOLD Corporation, based in Canada, and 5% is owned by the Government of Suriname. The Rosebel mine produced 
about 385,000 troy ounces (11,975 kg) in 2011, at a cost of US$616 per ounce, and has 
5.73 million ounces in proven and probable reserves. The mining concession covers 170 km
2 in 
north-central Suriname, about 80 km from Paramaribo. Production started in 2004 under a 
25-year renewable Right of Exploitation granted in December 2002. Current reserves indicate a life 
of 14 more years.40 Rosebel Gold Mine also holds a number of exploration concessions in 
surrounding areas. The company is an important source of Government revenue, contributing 
about SRD 418.2 million in 2010 or nearly 17% of revenue41, and is currently in negotiations to 
expand its mining activities in Rosebel. All of IAMGOLD's production is exported to Canada for final refining, with a royalty of 2.25% reserved in th e Royal Canadian Mint for the State of Suriname. 
4.55.  Other projects may start to produce gold  in the near future. The Surname Gold Company 
(Surgold), owned equally by Newmont Mining Corporation and Alcoa, owns and operates the 
Merian Gold Project. According to Surgold, the mine ral agreement giving right of exploitation is to 
be presented to the Council of Ministers, the St ate Council, and the National Assembly. Depending 
on approval by these bodies and further feasibility studies by Surgold a decision to develop a gold 
mine may be reached in 2013.
42 
4.56.  Production by the small-scale or artisanal gold mining sector exceeds that of the formal 
sector. There are estimated to be about 30,000 small-scale miners in Suriname who produced 
nearly 18,000 kg of gold in 2010. Despite the provisions in the Mining Decree of 1986 relating to licences for small-scale mining, the sector is effectively untaxed and unregulated. In January 2011, the Government started to encourage miners to register but only about 9,000 had registered as of 
June 2012.
43 Some miners in the informal or artisanal subsector work on concessions owned by 
other companies or individuals who sub-let areas on their concessions to locals and/or legal and illegal immigrants, mostly from Brazil.
44 
                                               
37 Alcoa online information. Viewed at: http://www.alcoa.com/ locations/suriname_afobaka/en/home.asp  
[January 2013]. 
38 Bauxite Institute Suriname (2009). 
39 Government of Suriname (2012), pp. 169-170. 
40 IAMGOLD online information. Viewed at: http://www.iamgold.com/English/Operations/Operating-
Mines/Rosebel-Gold-Mine-Suriname/default.aspx  [January 2013]; and IAMGOLD Corporation (2010). 
41 Central Bank of Su riname (2010), p. 10. 
42 Surgold (2012). 
43 U.S. Department of State (2012). 
44 de Theije and Heemskerk (2009). WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.57.  Although it has been noted that the inform al mining sector delivers some benefits to the 
country, the mining methods used have led to  several environmental problems, including 
deforestation and mercury pollution, and many are relatively inefficient methods of extracting gold.
45 
4.58.  Under the Bank Law of 1958, all gold must be sold to the Central Bank. However, since 
2002 the Bank has delegated this function. As of  end-2010, eight companies in Suriname have 
licences from the Currency Commission of the Cent ral Bank to buy gold; five of these also have 
export licences and one has a permit to refine gold. The registered gold buyers are required to 
provide the Central Bank with monthly and annual reports on purchases and sales. Prices paid by buyers are not regulated although they include a 1% royalty to the Central Bank.
46 
4.59.  According to the Multi-annual Development Plan 2012-2016, the gold sector can be divided 
into three levels depending on scale: small-scale mi ning of up to 200 ha, where exploitation rights 
should be awarded to individuals or families; the medium-scale operations of between 200 and 
40,000 ha, where exploitation licences would be av ailable to domestic and foreign companies; and 
larger than 40,000 ha, where exploitation licences would be granted to international companies in 
cooperation with the Government. The Plan emphasizes the need to control the small-scale subsector in order to reduce lawlessness and da mage to the environment, and to improve its 
contribution to public finances. 
4.60.  The Plan states that a school for mining and mineral processing should be established as 
well as a mining institute and mines service centres, and that all mining enterprises registered. The school is to be financed by an investment  fund, which will also have to be set up.
47 
4.4  Financial Services 
4.61.  Financial services are not covered in Su riname's Services Schedule. In the context of 
negotiations under the DDA, Suriname made an  offer covering insurance and reinsurance 
services.48 
4.4.1  Banks 4.4.1.1  Structure  
4.62.  There are nine banks operating in Suriname: three are wholly owned by the State, one is 
majority owned by the State, and the State has a minority holding in one. Of the remaining four, 
one (RBC Suriname) is majority owned by foreign capital (Royal Bank of Canada which took over the parent company (Royal Bank of Trinidad and Tobago) in 2008). Godo, the most recent 
institution to obtain a banking licence, operates as a cooperative bank; it was a credit union 
until 2010 (Table 4.7). 
Table 4.7 Structure of the banking system 
(SRD million) 
 Total 
assets Total 
deposits State 
ownership (%)  
De Surinaamsche Bank (DSB) (30 June 2012) 2,940 2,582 10 
Hakrinbank N.V. (30 June 2012) 1,654 1,433 51 
Finabank (31 December 2011) 297 275 0 
Surichangebank (31 December 2011) 239 200 0 
RBC Royal Bank Suriname .. .. 0 
Surinaamse Postspaarbank .. .. 100 
Surinaamse Volkscredietbank (31 December 2011) 291 256 100 
Landbouw Bank   100 
                                               
45 Versol (2007). 
46 Heemskerk (2010). 
47 Government of Suriname (2012), pp. 175-177. 
48 WTO document TN/S/O/SUR/Rev.1, 28 July 2005. WT/TPR/S/282/Rev.1 • Suriname  
 
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   Total 
assets Total 
deposits State 
ownership (%)  
Cooperatieve spaar en kredietbank Godo 
(31 December 2011) 198 172 0 
.. Not available. 
Source: DSB (2012), Half-Year Report 2012 , Paramaribo; Hakrinbank N.V (2012), 2012 Halfjaarrapport , 
August. Viewed at: http://ebookbrowse.com/h kb-halfjaarrapport-2012-pdf-d392966445; FinaBank 
(2012), Annual Report and Financial Statement 2011 . Viewed at: 
http://www.finabank.com/pdf/annual_report_2012.pdf; Surichange Bank N.V. (2012), Annual 
Report 2011 . Viewed at: http://scbbank.sr/englis h/jupgrade/images/pdf/AnnualReport2011; 
Surinaamse volkscredietbank (2010), Annual Report 2010 , Paramaribo; and Cooperatieve spaar en 
kredietbank (2011), Godo Annual Report 2011 , Paramaribo.  
4.63.  The three wholly state-owned banks were established to provide financial services to 
specific sectors and/or to address social objectives: 
 Landbouw Bank provides financial services for agriculture, forestry, and fishing; 
 Volkscredietbank (VCB) is focused on housing loans and financial services to small 
enterprises; and 
 Postspaarbank offers financial services to low income households. 
4.64.  However, all three state-owned banks now provide a range of services to other markets and 
sectors. In addition, De Nationale Ontwikkeling sbank N.V. (NOB - National Development Bank), 
which is also state-owned, is not a commercial bank but specializes in development loans. 
4.65.   According to the IMF, the three largest ba nks account for nearly 62% of the total assets in 
the financial system and 77% of total bank deposits. Overall, the commercial banks were 
considered to be well capitalized, although profitability has been declining while non-performing loans (NPLs) had not changed over the past few years at about 8% of assets. However, the 
financial position of the three wholly state-owned banks was weaker than the other banks, with an 
NPL ratio about twice the average for the banking sector as a whole.
49 According to the authorities, 
the high NPL ratio was mainly caused by old loans granted to stimulate the housing and agriculture 
sectors and other directed lending initiated by the Government, and the ratio has been improving 
over the past few years as these loans are being written off. 
4.66.  Bank lending more than doubled between  2006 and 2010, particularly to the utilities, 
mining, services, housing sectors. However, the "other" category accounts for nearly one third of 
total credit (Table 4.8) and is made up mostly of consumer loans. The rapid growth in these loans 
was partly due to several banks lowering their rates on consumer loans. Lending for housing also increased as banks reduced rates on mortgages, which had a knock-on effect on construction 
activity and loans to that subsector. The sudden increase in lending for electricity, gas, and water 
in 2008/09 was mostly the result of a loan to state-owned electricity company, EBS. 
Table 4.8 Distribution of ba nk credit, by sector, 2006-10 
(SRD million) 
 2006  2007  2008  2009 2010  
Total  1,449.2  1,812.1  2,342.0  2,621.8 3,157.9  
Agriculture 59.3 61.8 95.0 108.8 127.3  
Construction 42.9  77.1 119.2  98.4 121.5  
Electricity, gas, and water 0.1 0.1 17.9 28.5 37.8 
Fisheries 20.8  33.7 35.9 37.5 44.1  
Forestry 2.2 4.5 5.6 4.8 3.0 
Housing 185.1  273.1  392.4  463.0 524.7  
Manufacturing 111.4  140.3  174.9  198.1 226.5  
Mining 8.4  14.6 18.4 32.6 59.4  
Services 97.4 124.3  181.8  239.3 312.4  
Trade 382.1  482.9  605.8  665.6 702.0  
                                               
49 IMF (2012). WT/TPR/S/282/Rev.1 • Suriname  
 
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   2006  2007  2008  2009 2010  
Transport, storage, and communications 38.2 54.0 80.7 71.5 70.5 
Other 491.3  545.9  614.3  673.7 928.7  
Source: Central Bank of Suriname (2010), Annex VI.3, Jaarverslag 2010 . Viewed at: 
http://www.cbvs.sr/Jaarverslag/JAARVERSLAG%202010.pdf .  
4.67.  Dollarization of banking deposits remains quite high, at over half of total deposits, while 
U.S. dollar denominated credits declined steadily from over half of total credits in mid-2007 to 
about one third in early 2012. In 2011, the reserve requirement for foreign currency denominated 
deposits was increased from 33% to 40%. 
4.4.1.2  Legal and institutional framework 
4.68.  The main laws governing the banking sector are the Bank Law of 1956 and the new Banking 
and Credit System Supervision Act of 2011.50 Under the 2011 Act, the Central Bank of Suriname 
has the authority to supervise banks in consistency with international standards. The Act allows 
the Central Bank to introduce prudential regulations for financial institutions in the areas of risk 
management, corporate governance, consolidated su pervision, and audit and licensing procedures 
needed to strengthen supervision of the banking sector (Table 4.9).51  
Table 4.9 Banking prudential regulations, February 2012  
Regulation Main provisions Report 
frequency  
 Capital adequacy  
Richtlijn Nr.1 
Solvabiliteit (2004) 
(Directive No. 
1capital adequacy) The minimum capital requirement for banks, primary, 
unimpaired paid-up capital of SRD 4.5 million; in addition, 
all banks have to maintain a risk-weighted capital-asset 
ratio of 8% (Tier I capital-asset ratio should be at least 
4%) or such higher level determined by the Central Bank 
(in 2011, it was 12.1% and 10.9% for Tier I capital) Monthly 
 Classification of loans and provisioning  
Richtlijn Nr.2 
Kredietclassificatie en 
Voorziening (2004) 
(Directive No. 2 credit 
classification and 
provisioning) Banks must adopt a loans policy approved by their Board 
and establish a review system to identify risk and ensure 
the adequacy of their allowance for loans losses 
Non-performing loans are defined as loans in respect of 
which any payment of principal or interest is in arrears for 
90 days or more; the regulations specify minimum 
standards for the accounting treatment to be applied to 
non-performing and renegotiated loans, and minimum 
provisioning requirements for non-performing loans Quarterly 
 Large exposures  
Richtlijn Nr.3 
Grote-Posten (2004) 
(Directive No. 3 large 
exposures) The maximum exposure limit to any single person is fixed 
at 25% of a bank's capital 
A bank's deposits with other banks, corporations, and 
financial institutions must be aggregated and the total 
cannot exceed, for each institution, 100% of a bank's 
capital unless the institution has received an "investment" 
grade from a major rating agency 
A bank's large exposures (i.e. loans or deposits of a bank 
to or with any person or common enterprise that equals or 
exceeds 15% of the bank's capital) cannot exceed, in the 
aggregate, 600% of its capital Monthly 
                                               
50 The Banking and Credit System Supervision Act 2011 is available in English on the Central Bank of 
Suriname's website. Viewed at: http://www.cbvs.sr/wp-content/uploads/2012/04/Suriname-Banking-
supervision-Act-November-2011-_unofficial-translation_-_2_1.pdf  [January 2013]. 
51 IMF (2012), pp. 13 and 17.  WT/TPR/S/282/Rev.1 • Suriname  
 
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  Regulation Main provisions Report 
frequency  
 Insider lending  
Richtlijn Nr. 4 – 
Kredietverlening 
aan Insiders 
(2004) (Directive 
No. 4 insider 
lending) Aggregate lending to a single insider or the insider's related 
interest is limited to 25% of the bank's capital; the 
aggregate of all loans to all insiders and their related 
interests cannot exceed 100% of the bank's capital Quarterly 
 Fixed assets investment  
Richtlijn Nr 5 
Immobilia (2004) 
(Directive No. 5 
financial 
institutions fixed 
assets investment)  Direct or indirect investments by banks in fixed assets are 
limited to 100% of their "adjusted" capital Biennial 
Source: Central Bank of Suriname. 
4.69.  Under the Act, an entity requires a licence from the Central Bank to operate as a "credit 
institution" in Suriname. Branches of foreign financial institutions must also obtain a licence and 
are subject to the same supervision and prudential regulations for their operations in Suriname. 
The Central Bank may revoke a licence on the grounds that the credit institution has not complied with the terms of the Act or the prudential or  other regulations issued by the Central Bank. 
4.70.  The 2011 Supervision Act makes provision for the creation of a bank deposit insurance 
scheme, and the authorities are curre ntly planning to implement one. 
4.71.  In regard to its obligations following the ratification of the Vienna Convention
52, and 
following the recommendations of the Financial Action Task Force and the Caribbean Financial 
Action Task Force, in 2012, the Central Bank issu ed the Anti-Money Laundering and Combatting of 
Terrorist Financing Directive. Between 2003 and 2008, the Office for the Disclosure of Unusual Transactions (Meldpunt Ongebruikelijke Transacties) put 11 cases forward to the Public Prosecutor 
and achieved one conviction.
53 In 2012, the Reporting of Suspicious Transaction Act was amended 
and the Identification Requirement for Service Providers Act was adopted by the National Assembly. 
4.4.2  Insurance services 
4.72.  There are 12 insurance companies operating in Suriname covering life, general, and funeral 
insurance. General insurance makes up the greatest proportion of the market, and funeral insurance the smallest. 
4.73.  Insurance companies are subject to the Bank ing and Credit System Supervision Act of 1968, 
as amended by the Decree on the Supervision of the Credit System of 1986, and to Central Bank 
supervision. 
4.74.  There are no restrictions to Surinamese residents taking out insurance policies outside 
Suriname. 
4.75.  The collapse of the CL Financial Group of Trinidad and Tobago in 2009 made 
CLICO-Suriname insolvent, as its investments in other subsidiaries of CL Financial ceased to 
perform. To help protect some 7,500 policyholders  of CLICO-Suriname (including other insurance 
companies and pension funds) a court-approved moratorium on payments was applied from June 2009 for 18 months. In January 2010, Self Reliance Insurance, which is 40% state-owned, 
took over CLICO-Suriname's operations with the support of a SRD 41 million loan from the 
Government at zero-interest.
54 
                                               
52 UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances. 
53 Caribbean Financial Action Task Force (2009), p. 9. 
54 IMF (2011), p. 13; and Central Bank of Suriname (2010), p. 32. WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.76.  The resolution of CLICO-Suriname had a significant effect on the financial situation of life 
insurance companies in Suriname, as total assets fell from SRD 276 million in 2008 to SRD 229 million in 2009, and reserves fell from SRD 25 million to a deficit of SRD 69 million (Table 4.10). However, the sector as a whole has continued to grow rapidly as total assets, 
premiums, payments, and expenses have increased steadily over the past few years. 
Table 4.10 Insurance indicators, 2005-11 
(SRD million) 
 2005  2006  2007  2008  2009 2010 2011  
Life insurance        
Assets 136.8  165.6  217.1  275.6  229.1 266 366.8  
Reserves 11.9  16.7 21.5 25.2 -69.4 29.2 45.7  
Premiums (less reinsurance) 2.2 48.3 69.2 82.1 50.5 60.2 77.4 
Payments (less reinsurance) 10.2  11.2 16.6 19.7 14.6 30.0 12.2  
Operating and other expenses 13.6 20.2 19.4 21.8 15.8 17.7 28.5 
General insurance        
Assets 169.2  177.7  218.2  253.5  297.5 322.8 421.5  
Reserves 66.3  95.9 104.5  107.6  122.4 139.8 196.9  
Premiums (less reinsurance) 77.7 86.0 108.9  131.1  138.3 153.2 199.3  
Payments (less reinsurance) 49.2  55.3 72.8 78.7 88.6 93.1 116.1  
Operating and other expenses 10.2 28.9 35.7 48.0 50.6 62.7 80.0 
Source: Central Bank of Suriname (2010), Jaarverslag  2010. Viewed at: 
http://www.cbvs.sr/Jaarverslag/JAARVERSLAG%202010.pdf .  
4.77.  In terms of assets, general insurance is bigger than life insurance in Suriname and has seen 
considerable growth over the past few years, part ly driven by increasing premiums and coverage 
for mandatory car insurance.  
4.4.3  Other financial services 4.78.  There were about 27 credit unions in Suriname in 2011, under the supervision of the 
Central Bank. Membership of most of the credit unions is restricted to employees of companies or 
organizations specified in their licence to operate. The Central Bank divides credit unions into three 
categories based on their size with less burdensome reporting requirements for smaller unions. Although the assets and liabilities of the unions have increased over the past few years, there has 
been no umbrella organization since 1994.
55 Furthermore, only eight credit unions actually filed 
reports with the Central Bank. Most on-site inspections have shown a significant weakness in management and administrative capacity in the sector. The average size of most credit unions is 
too small to provide for their members' needs e ffectively and efficiently. The Central Bank is 
considering various responses to these weaknesses, ranging from mergers to liquidations of non-viable credit unions. The low level of reporting also means that the Central Bank's data are tentative: in 2011, the total assets of the institutions that reported was SRD 23.1 million;
56 claims 
on members were SRD 15.1  million; and liabilities to members were SRD 19.8 million. In 2010, 
the largest credit union, Godo, converted to a bank (section 4.4.1). This credit union represented approximately 80% of the sector. 
4.79.  In October 2012, the President signed the Supervision of Money Transaction Offices Act. The 
Act stipulates that no single enterprise may tran sfer funds and provide foreign exchange services. 
Futhermore, an enterprise must obtain a licence from the Central Bank before it may provide 
either service. Foreign-owned companies may set up branches in Suriname provided they are 
registered in the home jurisdiction and have a statement from the domestic authorities. Minimum 
capital and other prudential requirements are to be set out in directives. 
4.5  Telecommunications 
4.80.  In common with many other countries, fixed-line telephony in Suriname has not grown 
much over the past few years; there were about 84,000 subscribers in 2011. The state-owned company Telesur has a monopoly on fixed-line communications. Mobile subscribers have increased 
                                               
55 Caribbean Centre for Money and Finance (2009), p. 25. 
56 Central Bank of Suriname (2010), pp. 34-36. WT/TPR/S/282/Rev.1 • Suriname  
 
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  rapidly, since new service providers obtained  licences to operate in 2006, and reached 947,000 
in 2011 (Table 4.11) as Telesur (trading as TeleG) was joined by Digicel, and UNIQA in competing for market share. Digicel is based in Jamaica an d operates throughout the Caribbean, while UNIQA 
is owned by Intelsur of Suriname and United Telecommunication Services (UTS), which is based in 
the Netherlands Antilles. 
Table 4.11 Selected telecommunication indicators, 2006-11 
 2006  2007  2008  2009 2010 2011  
Fixed subscriptions ('000) 81.5  82.0 83.0 83.7 85.0 84.0  
Mobile cellular subscriptions ('000) 320.0  380.0  657.1  763.9 890.0 947.0  
Internet subscriptions ('000) 8.3  9.5 11.0 12.6 .. 24.2  
Internet users (% of individuals) 9.5 14.1 21.1 31.4 31.6 32.0 
..  Not available. 
Source: ITU online information. Viewed at: http://www.itu.int/ITU-D/ICTEYE /Indicators/Indicators.aspx#  
[March 2013]. 
4.81.  In awarding mobile licences in 2006, notifications asking for business plans were published 
in national newspapers and posted on the websites of the Ministry of Transport, Communications and Tourism and the Telecommunications Authority. The plans were examined by the Ministry, the 
Authority, and an external consultant who made recommendations to the Minister of Transport, 
Communications and Tourism, who was responsible for the final selection for approval by the 
President. 
4.82.  One reason for the high level of subscr iptions was the absence of full interconnection 
agreements among service providers, particularly for SMS services, which meant individuals 
needed a subscription with each service provider  to send and receive text messages. In 2010, the 
three mobile operators finally came to an agreement, and there is full interconnection among the 
three mobile service providers. 
4.83.  In 2010, 56% of mobile subscriptions were with Telesur, 39% with Digicel, and 5% with 
UNIQA. 
4.84.  There are four internet providers operatin g in Suriname; Telesur owns the infrastructure 
while both UNIQA and Digicel offer wireless services and one company offers broadband via 
satellite. 
4.85.  The Ministry of Transport, Communication and Tourism is responsible for 
telecommunications policy, and the Telecommunicatie Autoriteit Suriname (TAS) is responsible for 
licensing of service providers and regulation of the sector, as well as providing advice to the 
Minister. Suriname is a member of the International Telecommunication Union. 
4.86.  Legislation on telecommunications comprises the Telegraph and Telephone Act of 1945, and 
the Telecommunications Act of 2007 (passed by th e National Parliament in 2004 and proclaimed 
by the President in 2007). The 2007 Act provided th e legislative basis for the regulation of the 
market through TAS, which had already been established by State Decree No. 32 of March 1998. 
Many of the detailed aspects of regulating teleco mmunications were detailed in a series of State 
decrees issued in 2007 that cover various issues including licensing, interconnection, disputes, a frequency plan, and electromagnetic compatibility.
57 
4.87.  TAS is independent of the Ministry although  its director and the board are appointed by the 
Minister, who can also provide general guidance (Article 6). Its responsibilities include assessment of applications for licences, where it advises th e Minister and the President who may then grant a 
licence. Licences for telecommunications services may only be granted to enterprises legally 
incorporated in Surinam (Article 9). In addition to regulating the fixed and mobile telephone services, TAS is responsible for regulating and issuing licences for radio stations, cable networks, and broadcasting services. 
                                               
57 TAS online information (in Dutch). Viewed at: 
http://www.tas.sr/index.php?option=com _content&view=article&id=33&Itemid=2  [January 2013].  WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.88.  In addition to requiring that service li cences be granted only to enterprises legally 
incorporated in Suriname, the Telecommunications Act includes other measures that restrict competition; for example, call-back services are expressly forbidden (Article 15). 
4.89.  The authorities noted that the current legisl ation is based primarily on voice services and is 
not technology neutral, therefore, it does not fully cover data or text services. They acknowledged 
that the current legislation is inadequate, particularly in the absence of dedicated competition or consumer protection legislation. A commission was set up in 2012 to prepare technology-neutral 
draft legislation. According to the authorities, the commission report contained a list of issues that 
should be addressed in new legislation, and they intend to draft a new law in the course of 2013.  
4.6  Maritime Transport 4.90.  Nieuwe Haven in Paramaribo is the main po rt in Suriname followed by Nieuw Nickerie and 
Paranam Moengo. Maritime traffic has been increasing steadily; Nieuwe Haven handled 
37,285 TEUs (twenty-foot equivalent units) in 2005 and 59,583 in 2010 (Table 4.12).
58 Reflecting 
the pattern of trade, where most exports are bulk commodities and imports tend to be of finished 
goods, container traffic is weighted heavily to wards imports compared to exports. To meet 
increased demand, Nieuwe Haven has been upgraded with the help of a €30 million grant from the EU. In addition to the main ports, there are bauxite and oil terminals as well as smaller general 
goods terminals. 
Table 4.12 Import and export of fu ll containers, Nieuwe Haven, 2005-10 
(TEUs) 
 2005 2006 2007 2008 2009 2010 
Import 28,149 28,566 35,087 42,666 39,652 40,703 
Export 9,137 10,051 10,952 13,353 14,788 18,880 
Total 37,285 38,617 46,040 56,019 54,441 59,583 
Source: N.V. Havenbeheer. 
4.91.  There are 19 vessels in the merchant fleet registered under Suriname's flag, with a total 
gross tonnage of 4,028 GT.    
4.92.  Suriname is a member of the International Maritime Organization. The Ministry of Transport, 
Communications and Tourism is responsible for maritime policy in Suriname while state-owned enterprises are responsible for its implementation: 
 The Maritieme Autoriteit Suriname (MAS) provides river traffic control, navigational aids, 
fairway management (including dredging), pilotage, and hydrographical surveys, and 
regulates ships and seaways in Surinamese waters for compliance with legislation.
59 It also 
carries out training courses for seafarers but, as of March 2013, Suriname was not a party to 
the International Convention on Standards, Certification and Watchkeeping for Seafarers (STCW). According to the authorities, ratificati on of the Convention was before the National 
Assembly; and 
 N.V. Havenbeheer Suriname (HBS), is resp onsible for operating Nieuwe Haven and the 
smaller port at Nieuw Nickerie as well as oil piers. According to the authorities, the role of HBS is that of developer, supervisor, and regu lator, while private-sector enterprises operate 
the terminals.  
4.93.  In 2010, Integra Port Services, Continental Shipping Agencies N.V., was awarded a 15-year 
concession to operate Nieuwe Haven.
60 D P  W o r l d  L i m i t e d  o f  t h e  U n i t e d  A r a b  E m i r a t e s  t o o k  a  
controlling interest in Integra Port Services in July 2011.61  
                                               
58 N.V. Havenbeheer Suriname online information. Viewed at: http://www.havenbeheer.com/  
[January 2013]. 
59 Maritieme Autoriteit Suriname online information. Viewed at: http://www.mas.sr/en/  [January 2013]. 
60 N.V. Havenbeheer (2009). WT/TPR/S/282/Rev.1 • Suriname  
 
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  4.94.  There are 18 port facilities in Suriname certified as fulfilling the IMO requirements of the 
International Ship and Port Facility Security Code (ISPS): 
 Paramaribo, with five facilities for gene ral cargo, fuel, grains, and passengers; 
 Para, with five facilities for bulk and general cargo and cement;  
 Nickerie, with three facilities for general cargo and chemicals. The port has been developed 
to increase capacity, including dredging the Nick erie River so that vessels of up to 7,000 dwt 
can reach the port. It is hoped that Nieuw Nickerie  will facilitate export s of agricultural goods 
from both western Suriname and eastern Guyana62;  
 Wanica, with two facilities for cement and fuel; 
 Marowijne, with two fuel facilities; and 
 Commewijne, with a single fuel facility op erated by the Xin Wang Ji Tuang Group. 
4.95.  According to the World Bank, export cons ignments take an average of 23 days and cost 
US$1,000 per container, while imports take 21 days and cost US$1,165 per container. However, most of this is spent preparing documents and clearing customs. Port and terminal handling 
requires 5 days and US$185 for exports, and 4 days and US$235 for imports (Table 4.13). 
Although the cost and time for port and terminal handling compares reasonably well with some countries in the region, particularly on cost, the time involved is considerably longer in Suriname 
than for either Barbados or Trinidad and Toba go. However, the authorities pointed out that 
following investment in Nieuwe Haven, the time required for port operations has been considerably reduced and can be completed in a single 12-hour tidal window.
63 
Table 4.13 Time, cost, and competiveness of ports in Suriname and selected CARICOM 
countries  
 Suriname Jamaica Trinidad 
and 
Tobago Barbados Guyana 
Exports      
Time (days), of which:  23 20 11 9 19 
Ports and terminal handling 5 3 2 2 2 
Cost (US$ per container), of 
which: 1,000 1,500 843 810 730 
Ports and terminal handling 185 390 160 25 150 
Imports      
Time (days), of which: 21 17 14 8 22 
Ports and terminal handling 4 2 3 2 3 
Cost (US$ per container), of 
which:  1,165 1,560 1,260 1,615 745 
Ports and terminal handling 235 415 350 415 165 
Quality of port infrastructure 
(rank out of 144) 42 39 92 17 119 
Source:  World Bank/IFC (2013), World Bank Doing Business 2013: Smarter Regulations for Small and 
Medium-Size Enterprises , 10th Edition. Viewed at: 
http://www.doingbusiness.org/~/media/GIA WB/Doing%20Business/Documents/Annual-
Reports/English/DB 13-full-report.pdf ; and WEF (2012), World Economic Forum Global 
Competitiveness Report 2012-2013 . Viewed at: 
http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2012-13.pdf .  
                                                                                                                                               
61 DP World Press Release, "DP World Expands into Suriname, South America", 20 July 2011 . Viewed at: 
http://webapps.dpworld.com/portal/page/portal/DP_WORLD_WEBSITE/Media-Centre/News-Releases/News-
Releases-2011/DP-World-Suriname-Acquisition-EN.pdf  [January 2013]. 
62 N.V. Havenbeheer (2012). 
63 DP World online information. Viewed at: 
http://webapps.dpworld.com/portal/page/portal/DP_WORLD_WEBSITE  [March 2013]. WT/TPR/S/282/Rev.1 • Suriname  
 
- 62 - 
 
  4.7  Air Transport 
4.96.  Suriname has undertaken unqualified market access and national treatment commitments 
under the GATS in respect of the supply, through modes 1 to 3, of aircraft repair and maintenance services, the selling and marketing of air transport services, and computer reservation system 
services.  
4.97.  The main airport in Suriname is Johan Adolf Pengel International (JAP) Airport, 45 km south 
of Paramaribo. The second biggest airport, Zorg en Hoop in Paramaribo, used mainly for domestic 
and a few regional flights. JAP Airport and other public airports in Suriname are owned by the 
State. There are also numerous smaller airports and airstrips throughout the country, some of which are owned and operated by the Department of  Civil Aviation in the Ministry of Transport, 
Communication, and Tourism. 
4.98.  Total passenger traffic through JAP Airpor t has been increasing steadily, reaching about 
200,000 arrivals and a similar number of departures in 2010 from about 150,000 in 2004. The airport is managed by the Airport Management Co mpany (Luchthavenbeheer N.V.), which is listed 
as a parastatal company under the Ministry of Transport, Communications and Tourism. The 
airport is undergoing extensive development, with €28 million provided by the Government.
64 
Other public airports are maintained, operated, and managed by the Department of Civil Aviation. 
4.99.  The national airline is the state-owned Surinam Airways: the Government owns 98% of 
shares and the National Planning Bureau the ot her 2%. Under the Aviation Services Agreement 
with the Netherlands, Suriname and the Netherlands may each designate three carriers for the Paramaribo-Amsterdam route; only Surinam Airway s and KLM have been designated so far. Other 
domestic airlines include: 
 Blue Wing Airlines, which has several domestic scheduled flights and is available for 
chartered flights to domestic destinations as well as Guyana, Brazil, the Bolivarian Republic 
of Venezuela, and all islands of the Caribbean. The airline is based in Zorg en Hoop 
Airport
65; 
 Caricom Airways, which is based in Paramaribo and has charter flights throughout the 
Caribbean region66; 
 Gum Air, which is also based in Zorg en Hoop in Paramaribo, has scheduled flights to several 
domestic destinations, and is available for chartered flights67; and 
 Hi-Jet Helicopter Services, which provides charter services based in Zorg en Hoop.68 
4.100.  In addition to regional flights, international flights are available from Johan Adolf Pengel 
International Airport to Amsterdam (Surinam Airways and KLM), Miami (Surinam Airways via Georgetown), Aruba (Surinam Airways); Port of Sp ain (Caribbean Airlines); Willemstad in Curaçao 
(Insel Air and Dutch Antilles Airways); and Belem in Brazil (Surinam Airways). In addition, there 
are cargo flights by ABX Air and Amerijet. 
4.101.  The Ministry of Transport, Communication and Tourism is responsible for developing air 
transport policy. Within the Ministry, the Department of Civil Aviation (Luchtvaartdienst) provides 
air traffic control services as well as other support functions. The Civil Aviation Safety Authority of Suriname (CASAS) is responsible for safety oversi ght in compliance with the ICAO standards and 
recommended practices. According to the authorities,  current plans are to establish a Civil Aviation 
Authority by merging the Department of Civil Aviation and CASAS. 
                                               
64 Ministry of Transport, Communications an d Tourism online information. Viewed at: 
http://www.gov.sr/sr/ministerie-van-tct/over-t ct/parastatale-bedrijven/luchthavenbeheer.aspx  (Dutch) 
[January 2013]. 
65 Blue Wing online information. Viewed at: http://bluewingairlines.com/  [January 2013]. 
66 Caricom Airways online information. Viewed at: http://www.caricomairways.com  [January 2013]. 
67 Gum Air online information. Viewed at: http://www.gumair.com  [January 2013]. 
68 Hi-Jet Helicopter Services on line information. Viewed at: http://www.hi-jethelicopters.com/about-us/  
[March 2013]. WT/TPR/S/282/Rev.1 • Suriname  
 
- 63 - 
 
  4.102.  The primary legislation on civil aviation is  the Civil Aviation Safety and Security Act of 
2002, which was intended to provide the legal basis for Suriname to comply with the Chicago Convention, particularly on personnel licensing, aircraft nationality and registration, operations of aircraft, airworthiness of aircraft, aerodromes, environmental protection, security, and the safe 
transport of dangerous goods by air. The Act prov ides for the Minister to set out regulations to 
comply with international rules through civil aviation regulations. CASAS, which was first set up by State Decree No. 19 of May 1997 was made a corporate body through the Act.  
4.103.  Other laws on civil aviation include th e Civil Aviation Act of 1935 (as modified in 1955), 
and several Civil Aviation Regulations establishe d by CASAS, covering different aspects of air 
transport.
69  
4.104.  Under the 2002 Act, subject to the terms of  bilateral or regional air transport agreements, 
any airline that wants to provide commercial air transport services within, to, or from Suriname 
must be based in Suriname and be substantia lly owned and controlled by Surinamese-based 
enterprises or nationals. CARICOM nationals are treated in the same way as Suriname nationals. 
4.105.  Suriname is a party to the Caribbean Community Air Services Agreements of 1996, and 
the Air Transport Agreement among the Member States and associate members of the Association of Caribbean States of 2004, but ratification is still pending.  
4.106.  Suriname also has bilateral aviation agreements with Aruba; Barbados; Brazil; Cuba; 
Ghana; Grenada; the Netherlands; the Netherlands Antilles; Trinidad and Tobago; the United States; and the Bolivarian Republic of Venezuela (Table 4.14). In June 2012, Suriname concluded an "open skies" bilateral air transport agreement with the United States, which grants 
reciprocal fifth-freedom rights to airlines from each country.
70 Ratification of the agreement is 
pending. 
Table 4.14 Bilateral air transport agreements 
Partner Freedom rights Particulars 
Aruba 1 to 5 
(Miami) Single destination 
Barbados 1 to 5 Single designation and reciprocal capacity 
Brazil 1 to 5 Within South America: multiple designation 
of airlines, free capacity and frequencies 
Outside South America: as from January 2010, 21 frequencies weekly, multiple designation of airlines, and free 
capacity 
Cuba 1 to 5 Single designation; capacity needs prior 
approval 
Ghana 1 to 5 Multiple designation of airlines, free 
capacity and frequencies 
Grenada 1 to 5 Multiple designation of airlines, free 
capacity and frequencies 
Netherlands 1 to 5 Fifth freedom rights outside the EU 
Netherlands Antilles 1 to 5 Two airlines to be designated; 8 return 
flights per week per country; free capacity 
Trinidad and Tobago 1 to 5 Reciprocal number of airlines to be 
designated 
Bolivarian Republic of Venezuela 1 to 5 Single designation 
Source:  Information provided by the Suriname authorities. 
                                               
69 For acts and other legislation (in Dutch), see Mi nistry of Transport, Communications and Tourism 
online information. Viewed at: http://www.mintct.sr/sb.htm;  and for regulations established by CASAS (in 
English), see CASAS online information. Viewed at: 
http://www.casas.sr/website/bibliotheek.asp?m enuid=17&categorie=10&command=showCategorie  
[January 2013]. 
70 U.S. Department of State on line information. Viewed at: 
http://www.state.gov/e/eb/rls/othr/ata/s/ns/194417.htm  [January 2013].  WT/TPR/S/282/Rev.1 • Suriname  
 
- 64 - 
 
  4.8  Tourism 
4.107.  Available data for tourism presents a confusing picture of the sector in Suriname. The 
number of visitors increased between 2004 and 2 010 but receipts from tourism increased at a 
much slower rate, and declined from 2006 to 2010 (Table 4.15). 
Table 4.15 Tourism statistics, 2004-10 
  2004  2005  2006  2007  2008 2009 2010  
Tourist arrivals '000 138  161 154 166 151 151 205  
Arrivals for tourist 
purposes '000 - - - - 41 43 81 
GDP by hotels and 
restaurants SRD '000 -  - 152 158a 186a 194a 217a 
Receipts from 
tourism US$ million 52 96 109 73 83 70 69 
Tourist receipts  % of exports 5.6  6.8 7.7 4.6 4.2 4.1 3.0  
Employment in trade, 
restaurants and 
hotels No. - - 15,513  15,863  17,947 18,560 19,303  
a  Provisional. 
Source: World Bank databank. Viewed at: http://databank.worldbank.org/ddp/home.do#  [January 2013]; 
Suriname Government online  information. Viewed at: 
http://www.gov.sr/media/372177/statistieken%202008-sept%202011.pdf  [January 2013]; and 
Algemeen Bureau voor de St atistiek in Suriname online information. Viewed at: 
http://www.statistics-suriname.org/  [January 2013].  
4.108.  Nearly half of all tourists arrive from the Netherlands, followed by the Caribbean region 
and South America (Table 4.16). The main reason for visiting Suriname is to visit friends and 
family indicating that the sector is based on the large Suriname diaspora based principally in the 
Netherlands. 
Table 4.16 Origin of tourists, 2006-10 
 2006 2007 2008 2009 2010 
Netherlands  91,912 101,222 88,380 81,117 101,578 
Other Europe 6,380 6,912 6,919 6,700 8,677 
Caribbean  22,854 22,922 22,316 29,285 43,901 
South America  22,362 21,683 22,411 23,244 35,993 
United States 3,411 4,573 4,973 4,964 6,600 
Other 5,976 5,197 5,712 5,318 7,770 
Total 152,895 162,509 150,711 150,628 204,519 
Source:  Caribbean Tourism Organization online information, Individual Country Statistics 2010. Viewed at: 
http://www.onecaribbean.org/statistics/countrystats/ [January 2013]. 
4.109.  Suriname has made specific commitments with  regard to tourism and travel services in the 
framework of the GATS. These provide for unquali fied market access and national treatment for 
the supply of services, through modes 1 to 3, in the subsectors hotels and restaurants and travel 
agencies and tour operators.  
4.110.  The Ministry of Transport, Communications an d Tourism is responsible for policy relating to 
tourism, although several other ministries share responsibility for many tourism-related issues. The Suriname Tourism Foundation, which was founded in 1996, is listed as a parastatal entity 
under the Ministry of Transport, Communications and Tourism and works with the Ministry and the 
Chamber of Commerce to promote tourism, collect data, improve infrastructure and, generally, to implement government policy. 
4.111.  According to the Multi-annual Develo pment Plan for 2013-16, Government policy for 
tourism is to be oriented towards special-intere st vacations based on the natural environment in 
Suriname. Specific objectives for the Government include simplifying visa requirements; better 
promotion; legislation; improved finance; establishment and application of standards; and better 
statistics. WT/TPR/S/282/Rev.1 • Suriname  
 
- 65 - 
 
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[October 2012]. 
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Graanoogst, A.W. (2007), Costs and Benefits of Support Systems in the Rice Sector of Suriname,  
December. Viewed at: http://www.adron.sr/files/Costs-and-b enefits-of-support-systems-in-the-
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Heemskerk, M. (2010), The Gold Marketing chain in Suriname,  WWF Guianas Sustainable Natural 
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IADB (2011), IDB Country Strategy with the Republic of Suriname 2011-2015.   Viewed at:  
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  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 68 - 5  APPENDIX TABLES 
Table A1. 1 Merchandise exports, by  HS section and chapter, 2007-11 
(US$ million and %) 
Section HS code Description 2007  2008  2009  2010  2011 
Total exports (US$ million) 1,361  1,766  1,383  2,074  2,478 
   (% of total exports) 
I  Live animals and products 2.6 1.2 2.1 1.2 1.5 
 03 Fish and crustaceans 2.5 1.2 2.0 1.1 1.4 
 0306 Crustaceans 1.7 0.6 1.1 0.6 0.6 
II  Vegetable products 2.5 2.9 3.5 2.9 2.7 
 08 Edible fruit and nuts 1.2 1.3 1.9 1.2 1.4 
 10 Cereals 1.1 1.6 1.5 1.7 1.3 
III  Animal or vegetable fats and oils 0.0 0.0 0.0 0.0 0.0 
IV  Prepared foodstuffs, beverages, and tobacco 0.2 0.2 0.4 0.3 0.4 
V  Mineral products 7.8 15.5 7.7 16.2 11.8 
 27 Mineral fuels, mineral oils and products of their distillation 7.8 15.5 7.7 16.2 11.8 
 2710 Petroleum oils and oils obtained from bituminous minerals, other than crude 7.8  15.5 7.6 16.2 11.8 
VI  Chemicals and products thereof 49.7 40.3 23.2 20.8 17.9 
 28 Inorganic chemicals 49.5 40.1 23.0 20.6 17.7 
VII  Plastics and rubber an d articles thereof 0.1 0.1 0.1 0.2 0.1 
VIII  Raw hides and skins; leather 0.0 0.0 0.0 0.0 0.0 
IX  Wood and articles thereof  0.4 0.3 0.4 0.4 0.6 
X  Pulp of wood; paper and paperboard 0.0  0.0 0.2 0.0 0.0 
XI  Textiles and textiles articles 0.0 0.0 0.0 0.0 0.0 
XII  Footwear, headgear, umbrellas  0.0 0.0 0.0 0.0 0.0 
XIII  Articles of stone, ceramic; glass and glassware 0.0 0.0 0.0 0.0 0.0 
XIV  Pearls, precious stones and metals 34.8  37.5 60.7 56.7 61.7 
 7108 Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, 
or in powder form 34.7 37.5 60.7 56.7 61.7 
XV  Base metals and articles thereof 0.7 0.4 0.3 0.3 0.9 
XVI  Machinery, electrical equipment 0.6 0.5 0.7 0.6 1.7 
XVII  Transport equipment 0.4 0.4 0.1 0.2 0.2 
XVIII  Precision instruments 0.1 0.0 0.2 0.1 0.2 
XIX  Arms and ammunition 0.0 0.0 0.0 0.0 0.0 
XX  Manufactured articles n.e.s. 0.1 0.3 0.1 0.1 0.1 
XXI  Works of art 0.0 0.0 0.0 0.0 0.0 
  Other 0.1 0.1 0.1 0.1 0.1 
Note:   In general, UNSD Comtrade trade st atistics are used in TPR reports. However, as anomalies appeared while processing dat a, trade data provided by the authorities have 
been used here. 
Source:   WTO Secretariat calculations, based on data provided by the Su rinamese authorities.  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 69 - Table A1. 2 Merchandise imports, by HS section and chapter, 2007-11 
(US$ million and %) 
Section HS code Description 2007  2008  2009  2010  2011 
                
Total imports (US$ million) 953 1,124  1,121  1,193  1,430 
   (% of total imports) 
I  Live animals and products 3.1 3.1 3.0 2.9 2.9 
 02 Meat and edible meat offal 1.8  1.8 1.8 1.8 1.7 
II  Vegetable products 2.7 3.0 2.5 2.6 2.4 
III  Animal or vegetable fats and oils 1.4  1.6 1.3 1.4 1.5 
IV  Prepared foodstuffs, beverages and tobacco 8.2 8.5 9.6 9.8 9.2 
 21 Miscellaneous edible preparations 2.1  1.9 2.0 2.0 1.9 
 17 Sugars and sugar confectionery 1.4 1.0 1.1 1.4 1.5 
V  Mineral products 19.0 19.8 21.1 23.2 27.1 
 27 Mineral fuels, mineral oils and products of their distillation 17.0 17.6 18.6 21.2 25.5 
 2710 Petroleum oils and oils obtained from bituminous minerals, other than crude 15.9  16.5 17.8 20.4 24.6 
 2711 Petroleum gases and other gaseous hydrocarbons 1.0 1.1 0.7 0.7 0.9 
VI  Chemicals and products thereof 6.9  8.3 8.5 8.1 7.9 
 28 Inorganic chemicals 0.8 0.8 1.3 1.2 1.6 
 31 Fertilizers 0.7 1.8 1.2 1.2 1.2 
 38 Miscellaneous chemical products 1.2 1.2 1.4 1.3 1.2 
VII  Plastics and rubber and articles thereof 5.6  5.6 5.7 5.2 5.4 
 39 Plastics and articles thereof 3.9 4.2 4.0 3.8 3.9 
VIII  Raw hides and skins; leather 0.2  0.2 0.2 0.1 0.1 
IX  Wood and articles thereof  0.5 0.5 0.4 0.3 0.3 
X  Pulp of wood; paper and paperboard 2.4  2.3 2.3 2.2 2.0 
XI  Textiles and textiles articles 2.3 2.2 2.1 2.0 1.8 
XII  Footwear, headgear, umbrellas  0.8  0.7 0.6 0.6 0.6 
XIII  Articles of stone, ceramic; glass and glassware 1.3 1.2 1.3 1.3 1.2 
XIV  Pearls, precious stones and metals 0.4  0.0 0.1 0.1 0.1 
XV  Base metals and articles thereof 9.1 10.3 8.2 8.1 7.3 
 73 Articles of iron or steel 3.9 5.0 4.0 3.7 3.3 
 72 Iron and steel 3.2 3.5 2.4 2.6 2.4 
XVI  Machinery, electrical equipment 23.3  19.6 21.5 20.6 19.2 
 84 Nuclear reactors, boilers, machinery and mechanical appliances 13.8 12.2 13.7 12.2 14.1 
 8429 Self-propelled bulldozers, graders, levellers, excavators, tamping machines and 
road rollers 2.1 2.3 2.1 1.8 3.4 
 8413 Pumps for liquids; liquid elevators 0.8 0.9 1.8 1.2 1.1 
 8474 Machinery for sorting, screening, separating, crushing, earth, stone, ores or 
other mineral substances 1.1 0.5 0.9 0.7 0.7  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 70 - Section HS code Description 2007  2008  2009  2010  2011 
 85 Electrical machinery and equipment 9.4 7.4 7.9 8.4 5.2 
XVII  Transport equipment 9.1 8.4 7.7 6.5 7.2 
 87 Vehicles 8.7 8.1 7.3 5.8 6.8 
XVIII  Precision instruments 1.3 2.1 1.6 2.8 1.9 
XIX  Arms and ammunition 0.1 0.0 0.1 0.0 0.1 
XX  Manufactured articles n.e.s. 2.1  2.2 2.1 2.1 1.7 
XXI  Works of art 0.0 0.0 0.0 0.0 0.0 
  Other 0.3 0.2 0.1 0.2 0.2 
Note:   In general, UNSD Comtrade trade st atistics are used in TPR reports. However, as anomalies appeared while processing dat a, trade data provided by the authorities have 
been used here. 
Source:   WTO Secretariat calculations, based on data provided by the Su rinamese authorities. 
 WT/TPR/S/282/Rev.1 • Suriname  
 
- 71 - 
 
  Table A1. 3 Merchandise exports,  by trading partner, 2007-11 
(US$ million and %) 
Description 2007 2008 2009 2010 2011 
Total exports (US$ million) 1, 361 1,766 1,383  2,074 2,478 
 (% of total exports) 
America 47.5 52.7 44.6 49.8 42.5 
United States 11.7 7.4 6.4 7.1 10.7 
Other America 35.8 45.3 38.3 42.7 31.8 
Canada 22.2 23.3 27.2 27.8 18.6 
Barbados 1.8 3.0 0.8 5.4 3.9 
Guyana 1.5 4.4 2.8 5.4 3.7 
Trinidad and Tobago 7.0 9.8 4.1 2.1 2.2 
Jamaica 0.5 0.4 0.7 0.8 1.6 
Netherlands Antilles 0.8 2.3 1.1 0.4 0.7 
Argentina 0.0 0.0 0.3 0.0 0.4 
Europe 46.3 39.2 41.4 31.7 26.6 
EU(27) 20.2 16.1 23.5 17.5 13.1 
Belgium 12.6 11.7 15.8 9.7 10.2 
Netherlands 1.8 2.0 3.3 4.9 1.3 
France 5.2 1.6 3.7 2.4 1.2 
Germany 0.1 0.3 0.6 0.0 0.2 
Spain 0.3 0.1 0.1 0.0 0.2 
EFTA 26.1 23.1 17.8 14.3 13.5 
Switzerland 10.2 8.9 11.3 8.6 9.3 
Norway 13.9 10.0 3.4 4.6 3.4 
Other Europe 0.0 0.0 0.0 0.0 0.0 
Commonwealth of Independent States (CIS)  1.1 0.0 0.2 0.0 0.0 
Russian Federation 1.1 0.0 0.0 0.0 0.0 
Africa 0.3 1.0 0.0 0.4 0.7 
Ghana 0.0 0.0 0.0 0.0 0.7 
Middle East 0.1 0.9 8.0 13.4 26.1 
United Arab Emirates 0.1 0.9 8.0 13.4 26.1 
Asia 1.2 1.2 2.3 1.1 0.9 
China 0.5 0.8 1.6 0.7 0.4 
Japan 0.6 0.1 0.4 0.2 0.2 
Six East Asian traders 0.0 0.1 0.2 0.2 0.2 
Singapore 0.0 0.1 0.0 0.1 0.1 
Chinese Taipei 0.0 0.0 0.1 0.1 0.0 
Hong Kong, China 0.0 0.0 0.1 0.0 0.0 
Korea, Republic of 0.0 0.0 0.0 0.0 0.0 
Thailand 0.0 0.0 0.0 0.0 0.0 
Malaysia 0.0 0.0 0.0 0.0 0.0 
Other Asia 0.1 0.1 0.2 0.0 0.1 
India 0.0 0.1 0.0 0.0 0.1 
Other 3.4 4.9 3.5 3.6 3.2 
Memorandum      
APEC 36.2 31.8 35.8 36.1 30.2 
Note:   In general, UNSD Comtra de trade statistics are used in TP R reports. However, as anomalies 
appeared while processing data, trade data prov ided by the authorities have been used here. 
Source:   WTO Secretariat calculations, based on data provided by the Su rinamese authorities. WT/TPR/S/282/Rev.1 • Suriname  
 
- 72 - 
 
  Table A1. 4 Merchandise imports, by trading partner, 2007-11 
(US$ million and %) 
Description 2007 2008 2009 2010 2011 
Total (US$ million) 953 1,124 1,121 1,193 1,430 
 (% of total imports) 
America 55.2 57.7 56.9 60.1 62.8 
United States 22.6 23.4 21.4 21.0 20.3 
Other America 32.6 34.3 35.5 39.1 42.5 
Trinidad and Tobago 18.3 19.4 21.0 24.8 26.6 
Brazil 3.5 3.7 3.1 3.3 3.2 
Canada 1.3 1.1 1.5 1.9 1.9 
Colombia 1.6 1.4 1.9 1.7 1.5 
Antigua and Barbuda 0.1 0.0 0.3 0.2 1.3 
Dominican Republic 0.2 0.4 0.8 0.9 1.1 
Mexico 0.8 1.0 1.2 1.1 1.0 
Netherlands Antilles 1.6 2.2 1.1 0.7 0.9 
Guyana 0.6 0.4 0.3 0.4 0.7 
Panama 0.8 0.4 0.5 0.5 0.6 
Europe 27.9 23.5 24.9 23.0 20.6 
EU(27) 27.5 23.0 24.2 22.6 20.0 
Netherlands 18.8 16.3 17.7 15.1 13.5 
Germany 2.3 1.4 1.9 2.8 2.1 
Belgium 1.5 1.7 1.9 1.8 1.6 
France 0.5 0.9 0.7 0.7 0.7 
Poland 0.3 0.1 0.1 0.4 0.7 
EFTA 0.2 0.3 0.4 0.2 0.3 
Switzerland 0.1 0.1 0.2 0.1 0.3 
Other Europe 0.2 0.3 0.3 0.2 0.3 
Turkey 0.2 0.3 0.3 0.2 0.3 
Commonwealth of Independent States (CIS)  0.1 0.1 0.0 0.0 0.1 
Russian Federation 0.1 0.1 0.0 0.0 0.1 
Africa 0.1 0.1 0.2 0.1 0.0 
South Africa 0.1 0.0 0.1 0.0 0.0 
Middle East 0.1 0.2 0.1 0.1 0.1 
Israel 0.1 0.2 0.0 0.1 0.1 
Asia 16.6 17.7 17.2 15.7 15.6 
China 7.4 8.9 8.1 8.1 7.8 
Japan 4.3 4.0 3.6 3.5 3.3 
Six East Asian traders 2.9 2.6 2.2 2.1 2.6 
Thailand 1.6 0.9 1.0 0.9 1.0 
Malaysia 0.2 0.2 0.3 0.2 0.4 
Hong Kong, China 0.6 0.4 0.4 0.4 0.4 
Korea, Republic of 0.1 0.4 0.2 0.3 0.3 
Singapore 0.1 0.1 0.1 0.1 0.3 
Chinese Taipei 0.4 0.5 0.3 0.3 0.2 
Other Asia 1.9 2.2 3.3 2.0 1.9 
Korea, Democratic People's Republic of 0.7 1.0 0.6 0.8 0.9 
India 0.8 0.7 2.2 0.8 0.6 
Indonesia 0.2 0.3 0.3 0.2 0.2 
Other 0.0 0.6 0.7 0.9 0.7 
Memorandum      
APEC 40.2 41.9 38.7 38.3 37.6 
Note:   In general, UNSD Comtra de trade statistics are used in TP R reports. However, as anomalies 
appeared while processing data, trade data prov ided by the authorities have been used here. 
Source:   WTO Secretariat calculations, based on data provided by the Su rinamese authorities. 
 
  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 73 - Table A3. 1 Import restrictions, April 2004 
Tariff headinga Description Legal basis for restriction Reason for restriction Agency responsible for 
issuing trade permit 
Prohibited goods  
38.08 Pesticides contained in the FAO 
negative list .. Environmental protection n.a 
38.08 Chemicals contained in the FAO 
negative list .. Environmental protection n.a. 
28.44 Chemical and radioactive waste .. Environmental protection 
and national security n.a 
93.01 Chemical, biological and nuclear 
weapons, including substances used 
for the production of these weapons Chemical Weapons Convention ( 1993) National security n.a. 
 Goods obtained illegally in their 
country of origin .. Public morality n.a. 
87 Second-hand buses older than ten 
years .. Environmental protection n.a. 
 Second-hand passenger vehicles older 
than eight years .. Environmental protection n.a. 
Goods subject to licensing requirements  
93.02 Firearms, including explosives and 
ammunition in the sense of Article 1 
of the Law on Firearms Firearms Law, 1930 National security Ministry of Trade and Industry  
36.04 Fireworks .. National security Ministry of Trade and Industry 
30 
12.11 
13.02 
28, 29 
38 
53.02 Narcotics and psychotropic substances 
listed in Article 3.1 of the Narcotics 
Law; pharmaceutical products for 
humans, and sera Narcotics Law, 1998 
United Nations Single Convention on Narcotic 
Drugs and the Prevention of Drug Addiction 
(1961) 
United Nations Convention on Psychotropic 
Substances (1971) 
United Nations Convention against Illicit Traffic 
in Narcotic Drugs and Psychotropic Substances 
(1988) Public order and health Ministry of Trade and Industry 
30 
38.08 Pharmaceutical prod ucts for animals 
and plants .. Public health Ministry  of Trade and Industry 
28.05 Mercury .. Environmental protection 
and public health Ministry of Trade and Industry 
38.05 Pesticides (except those included in 
the FAO negative list) Pesticides Law, 1972 Environmental protection 
and public health Ministry of Trade and Industry 
28.44 
28.45 Radioactive minerals .. Public health Ministry of Trade and Industry  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 74 - Tariff headinga Description Legal basis for restriction Reason for restriction Agency responsible for 
issuing trade permit 
1-5 
96.01 Endangered wild animal species listed 
in Appendix I of CITES and their products, including eggs Hunting Law, 1954 and Convention on 
International Trade in Endangered Species of 
Wild Fauna and Flora Protection of animal life Ministry of Trade and Industry 
2-5 
41-43 Eggs, skins and hides, and other 
products of endangered species Hunting Law, 1954 Protection of animal life Ministry of Trade and Industry 
.. Animals, their parts and products .. Protection  of animal life Ministry of Trade and Industry 
40.12 Second-hand tyres .. Environmental protection Ministry of Trade and Industry 
29.03 Equipment containing 
polychlorobiphenyl (PCB) and polychloroterphenyl (PCT) .. Environmental protection Ministry of Trade and Industry 
06.02 
5-8 
10, 12 
25 Seeds, propagating material, humus, 
and raw soil Plant Protection  Ordinance, 1965 Protection of human and 
plant health Ministry of Trade and Industry 
87 Second-hand motorcycles or scooters 
older than three years .. Environmental protection Ministry of Trade and Industry 
Goods subject to certification requirements  
21.02 
30.02 Micro-organisms (bac teria, yeast, and 
mold) .. Protection of public 
health Ministry of Public Health 
23 Waste, except chemical and 
radioactive waste .. Environmental protection .. 
29.03 Products containing 
cholorofluorocarbons (CFCs) Montreal Protocol on Substances that Deplete 
the Ozone Layer (1987) Environmental protection Ministry of Labour, 
Technological Development 
and Environment 
.. Plants Plant Protection Ordinance, 1965 and 
International Plant Protection Convention 
(1951) Protection of human and 
plant health Certification from the country 
of origin 
63.05 Second-hand empty bags or sacks 
used for packing goods Plant Protection Ordi nance, 1965 .. Fumigati on certificate from 
country of origin  
n.a. Not applicable. 
.. Not available.  a In the context of this Review, the authorities indicated that they were working on a new list with the detailed tariff headin gs that correspond to the goods subject to 
prohibitions, licensing, and certification. 
Source: Negative List Decision. 
  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 75 - Table A3. 2 Trade restrictions and licens ing requirements on exports, April 2004  
Tariff 
code Description Legal basis for restriction Reason for restriction Agency responsible for 
issuing trade permit 
Prohibited exports 
17 Antiques .. Protection of the national 
artistic and historical heritage n.a. 
28-29 Chemical weapons Chemical Weapons Convention 
(1993) National security n.a. 
n.a. Goods obtained illegally in Suriname .. Public morality n.a. 
Exports subject to licensing requirements 
93 Firearms, including explosives and 
ammunition in the sense of Article 1 of 
the Law on Firearms Firearms Law, 1930  National security Ministry of Trade and Industry  
12 Medicinal plants .. .. Ministry of Trade and Industry 
12.11 
13.02 
28-29 
30, 38 
53.02 Narcotics and psychotropic substances 
listed in Article 3.1 of the Narcotics Law; 
pharmaceutical products for humans, and 
sera Narcotics Law, 1998 
United Nations Single Convention on 
Narcotic Drugs and the Prevention 
of Drug Addiction (1961) 
United Nations Convention on 
Psychotropic Substances (1971) 
United Nations Convention against 
Illicit Traffic in Narcotic Drugs and 
Psychotropic Substances (1988) Public order and health Ministry of Trade and Industry 
1-5 
96.01 Endangered wild animal species listed in 
Appendix I of CITES and their products, 
including eggs Hunting Law, 1954 and Convention 
on International Trade in 
Endangered Species of Wild Fauna and Flora Protection of animal life Ministry of Trade and Industry 
4-5 
41-43 
96.01 Eggs, skins and hides, and other products 
of endangered species Hunting Law, 1954 Protection of animal life Ministry of Trade and Industry 
.. Processed and unprocessed wood, logs Forest Management Law Protection of the environment Ministry of Trade and Industry 
5, 12 
32-33 Plants and animals with potential 
commercial applications as 
pharmaceutical, aromatic, dying and 
flavouring products .. .. Ministry of Trade and Industry 
n.a Not applicable. 
.. Not available. Source: Negative List Decision.  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 76 - Table A3. 3 Overview of public se ctor foundations and enterprises 
Name Activity Oversight ministry 
Agriculture   
Gemeenschappelijke Plantaardige en Vettenbedrijven (GPOV) Production of consumption oil Ministry of Agricultural, Husbandry, and Fishery 
Landbouwmaatschappij Brokopondo  Regional agricultural society (vegetable 
oil) Ministry of Agricultural, Husbandry, and Fishery 
Landbouwmaatschappij Patamacca (PATAMACCA) Regional agricultural society (vegetable 
oil) Ministry of Agricultural, Husbandry, and Fishery 
Stichting Machinale Landbouw (SML) Rice plantation Ministry of Agricultural, Husbandry, and Fishery 
Surinaamse Garnalenvangst Maatschappij (SUGAM) Shrimp fishing and processing Ministry of Agricultural, Husbandry, and Fishery 
Surinaamse Landbouwbedrijven (SURLAND) Banana plantati on Ministry of Agricultural, Husbandry, and Fishery 
Tropica Food Industrie (Tropics) Fruit plantations, processing Ministry of Agricultural, Husbandry, and Fishery 
Victoria N.V. Production of soya oil Ministry of Agricultural, Husbandry, and Fishery 
Agricultural business   
Centrale voor Vissershaven in Suriname (CEVIHAS) Central fish ing port Ministry of Agricultural, Husbandry, and Fishery 
Landsbedrijf Alliance (ALLIANCE) Fruit plantations Ministry of Agricultural, Husbandry, and Fishery 
Melkcentrale Industrie Milk production and import Ministry of Agricultural, Husbandry, and Fishery 
Multipurpose Corantijn Project (MCP) Infrastructure for rice production Ministry of Agricultural, Husbandry, and Fishery 
Stg. behoud bananen sector (SBBS) Banana plantation  Ministry of Agricultural, Husbandry, and Fishery 
Surinaamse Amerikaanse Industriemaatschappij (SAIL) Shrimp fishing and processing Ministry of Agricultural, Husbandry, and Fishery 
Surinam Rice Operation Rice operation Ministry of Agricultural, Husbandry, and Fishery 
Banking   
De Centrale Bank van Suriname Central bank Ministry of Finance 
De Surinaamse Bank (DSB) Commercial bank Ministry of Finance 
Handels-, Krediet- en Industrie Bank (HAKRINBANK)  Commercial bank Ministry of Finance 
Landbouwbank (LBB) Commercial bank Ministry of Agricultural, Husbandry, and Fishery 
Nationale Ontwikkelings Bank (NOB) National development bank Ministry of Finance 
Surinaamse Postspaarbank (SPSB) Commercial bank Ministry of Finance 
Volkscredietbank Commercial bank Ministry of Finance 
Communication / media   
Landsbedrijf Nationale Loterij Lottery Ministry of Finance 
Lotterijfonds Suriname Lottery Ministry of Finance 
Radio Boskopoe Regional radio broadcasting Ministry of Regional Development 
Stichting Radio-omroep Suriname (SRS) Radio broadcasting Ministry of Home Affairs 
Surinaamse Nieuws Agentschap (SNA)  Surina me news agency Ministry of Home Affairs 
Surinaamse Televisie Stichting Television broadcasting Ministry of Home Affairs 
Telecommunicatie Autoriteit Suriname (TAS) Telecommunication board Ministry of Transportation, Communication, and 
Tourism 
Natural resource industries   
Bruynzeel Suriname Houtmaatschappij (BSH) Lumber and wood proc essing Ministry of Physical Planning, Land and Forestry 
Management  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 77 - Name Activity Oversight ministry 
Grasshopper Aluminum Co. (GRASSALCO) Gold, granite, and mineral mining Ministry of Natural Resources 
Staatsolie Maatschappij Suriname (STAATSOLIE) Crude oil ex ploration and refining Ministry of Natural Resources 
Steenslagbedrijf Phedra  Stone mining Ministry of Natural Resources 
Public utilities   
Energie Bedrijven Suriname (EBS) National power and gas supply Ministry of Natural Resources 
Maritieme autoriteit Suriname (MAS) Maritime authority Ministry of Transportation, Communication, and 
Tourism 
N.V. Havenbeheer Suriname Port authority Ministry of Transportation, Communication, and 
Tourism 
Surinaams Postbedrijf Postal service Ministry of Finance 
Surinaamse Waterleiding Maatschappij (SWM) National water supply and distribution Ministry of Natural Resources 
Telecommunicatiebedrijf Suriname (TELESUR) Telephone co mpany Ministry of Transportation, Communication, and 
Tourism 
Wegenautoriteit Road maintenance authority Ministry of Finance 
Resource industry and other economic development 
and research   
Bauxiet Instituut Suriname (BIS) Analysis of bauxite mining Ministry of Natural Resources 
Centrum voor Landbouwkundig Onderzoek in Suriname Agri cultural research Ministry of Education and Culture 
Stg. voor Bosbeheer en bostoezicht (SBB) Forestry management and supervision Ministry of Natural Resources 
Stichting Agrarische Kernbedrijven Nickerie (SAKN) Agricultural en terprise, Nickerie Ministry of Agricultural, Husbandry, and F ishery 
Stichting Agrarische Ontwikkeling Coronie (SAOC) Agricultural development Coronie Ministry of Agricultural, Husbandry, and Fishery 
Stichting Experimentele Landbouwbedrijven (SEL) Developing rice production Ministry of Agricultural, Husbandry, and Fishery 
Stichting Landbouwontwikkeling Commewijne (SLOC) Regional agricultural society - 
vegetable Ministry of Agricultural, Husbandry, and Fishery 
Stichting Nationaal Rijstonderzoeks Institute (SNRI) Rice re search Ministry of Agricultural, Husbandry, and Fishery 
Stichting Proeftuinen in Suriname (STIPRIS) Agricultural research Ministry of Agricultural, Husbandry, and Fishery 
Stichting voor Visserijbevordering (STIVI) Fishing development an d promotion Ministry of Agricultural, Husbandry, and Fishery 
Services   
Self Reliance Insurance Ministry of Finance 
Waarborgfonds Motorverkeer Guarantee fund for vehicles Ministry of Finance 
Shipping and transportation   
Luchthavenbeheer Zanderij Airport authority Ministry of Transportation, Communication, and 
Tourism 
N.V. Havenbeheer Suriname Port authority Ministry of Transportation, Communication, and 
Tourism 
Nationaal Vervoersbedrijf (NVB) Public transportation Ministry of Transportation, Communication, and 
Tourism 
Scheepvaart Maatschappij Suriname (SMS) Shipping comp any Ministry of Transportation, Communication, and 
Tourism 
Surinaamse Luchtvaartmaatschappij (SLM) Airline Ministry of Transportation, Communication, and 
Tourism  
  WT/TPR/S/282 /Rev.1  • Suriname  
 
- 78 - Name Activity Oversight ministry 
Social services   
Algemene Oudedags Voorzieningsfonds (AOV) State old age/senior citizen pensions Ministry of Social Affairs 
Esther stichting Housing for citizens with leprosy  Ministry of Social Affairs 
Huize Albertine Home for senior citizens Ministry of Social Affairs 
Huize Betheljada Home for senior ci tizens Ministry of Social Affairs 
Leger des Heils Care for homeless and poor people Ministry of Social Affairs 
Mr. Hubert Stichting Care for handicappe d children Ministry of Social Affairs 
St. Majella Home for senior citizens Ministry of Social Affairs 
Stg. Kinderhuis het zout der aarde Housing for children Ministry of Education and Culture 
Stichting Beheer en Exploitatie Bejaarden Centra Housing for senior citizens Ministry of Social Affairs 
Stichting Beheer en Exploitatie Crechen (SBEC) Child care center  Ministry of Social Affairs 
Stichting Beheer Gehandicapten Fonds Funds for handicapped people Ministry of Social Affairs 
Stichting Lala Rookh Promotion of indian culture Ministry of Education and Culture 
Stichting Liefdadigheids Loterij Fonds Charitable funds Ministry of Social Affairs 
Stichting Lobi Family planning and councelling Ministry of Health 
Stichting Ontspannings Oord Gehandikapte Kinderen (SOGK) Recreation for handicapped children Ministry of Social Affairs 
Stichting Pensioenfonds State pension funds Ministry of Social Affairs 
Stichting Rusfoord en Tehuis Rest home Ministry of Social Affairs 
Stichting Trainingsproj. Jeugdige Gehandicapten (TJG) Traini ng for youth with handicaps Ministry of Social Affairs 
Stichting Volkshuisvesting Social housing programme Ministry of Social Affairs 
Stichting Vroege Stimulatie Creches Creches Ministry of Social Affairs 
Special agencies   
Algemeen Bureau voor Statistiek (ABS) General bureau of statistics Ministry of Planning and Development 
Cooperation 
Bureau Staatsschuld Debt management of Suriname Ministry of Finance 
Burger Luchtvaart Autoriteit Suriname (CASAS) Agency for civilian  aviation safety Ministry of Transportation, Communication, an d 
Tourism 
Centrale Landsaccountantsdienst (CLAD) Central auditing office Ministry of Finance 
Stichting Planbureau Suriname .. Ministry of Planning and Development 
Cooperation 
Tourism   
Stichting Toerisme Suriname (STS) Tourism promotion Ministry of Transportation, Communication, and 
Tourism 
Torarica Hotelmaatschappij (TORARICA) Hotel Ministry of Transportation, Communication, and 
Tourism 
Other   
N.V. Suriname Zwaarmaterieel (SURZWAM) Heavy equipment Ministry of Agriculture, Husbandry, and Fishery 
.. Not available. 
Source: Information provided by the Suriname authorities.  
__________