WT/TPR/S/218 Trade Policy Review 
Page 56 
 
 
IV. TRADE POLICIES BY SECTOR 
(1) AGRICULTURE , FISHERIES AND FORESTRY  
(i) Agriculture 
1. The agriculture sector plays important economic and social roles in Guyana, contributing 
almost half of its merchandise exports.  Agricu ltural production and exports are dominated by sugar 
and to a lesser extent, rice.  In view of the major changes affecting the EC import regime, Guyana's main market for sugar, the Guyanese sugar industr y is making significant efforts to reduce production 
costs and diversify.  Guyana is also seeking to  expand its exports of n on-traditional agricultural 
products.  Government support to the agriculture sector  mainly takes the form of extension services to 
farmers and various tax exemptions, with limited pr ovision of grants and concessionary loans, except 
to the rice industry.   
(a) Features 
2. Guyana's society and economy re lies heavily on agriculture:  in  2008, agriculture contributed 
16.6% to GDP.  Data on employment in the sector were not available, however the authorities report that in 2007, 19,018 people were employed by  the Guyana Sugar Corporation (GUYSUCO), the 
largest employer in the agriculture sector. 
3. Agricultural production in Guyana is dominated by sugar and rice.  While sugar farming is 
dominated by the state-owned Guyana Sugar Corporation, rice production is carried out by private producers, the vast majority of whom are small-scal e farmers.  Guyana also produces a wide variety 
of "non-traditional" agricultural products mainly co mprising fruits and vegetables.  Over the review 
period, agricultural production has been affected by adverse weather conditions:  severe flooding in 
early 2005 caused estimated damage of G$93.4 billion to the sector.
1   
Table IV.1 
Agricultural production, 2004-07 
Product 2004 2005 2006 2007 
Sugar (tons) 325,300 246,100 259,500 266,500 
Rice (tons) 325,600 273,300 306,800 298,100 
Non-traditional agricultural products (tonnes) 100,739 104,599 104,187 84,526 
Poultry (kg) 24,300,000 22,700,000 20,700,000 25,200,000 
Eggs (number)  21,500,000 24,100,000 5,400,000 9,800,000 
Edible oil (litres) 1,000, 000 600,000 1,400,000 0.0 
Milk (gallons) 6,000,000 5,100,000 6,200,000 7,000,000 
Beef (tonnes) 2,200 2,100 2,200 1,800 
Pork (tonnes) 450 380 390 400 
 
Source:  Information provided by the authorities. 
4. In 2007, the value of Guyana's imports of food was just over US$143 million, representing 
13.9% of total imports;  the main food imports we re milk, wheat, non-alcoholic beverages, and bread 
and baked goods (Table AI.2).  A number of agri cultural products are subject to import licensing 
(Chapter III(2)(vi)). 
5. Agricultural exports, particularly exports of food are of great importance to Guyana's 
economy.  Guyana is a net food exporter.  In 2007, the value of Guyana's food exports was just over 
                                                      
1 ECLAC estimates as reported in Bank of Guyana (2006). Guyana WT/TPR/S/218 
 Page 57 
 
 
US$338 million, representing 43.1% of total exports (Tab le AI.1).  Guyana's main export is raw sugar 
(19.2% of total exports in 2007).  90% of sugar prod uced in Guyana is exported, mainly to the U.K.2  
Guyana's sugar exports have bene fited from guaranteed access to the EC market, but this is being 
phased out (see below), and from a smaller U.S. pref erential quota.  Guyana's second largest export is 
rice (9.4% of total exports in 2007), and over 70% of production is exported.3 
6. The most significant development during the period under review has been a major change to 
the EC's import regime for sugar.  Since the 1970s Guyana has benefited from preferential access to 
the EC market under the terms of the Sugar Protocol:  the EC guaranteed to buy 159,410 tonnes of sugar (white sugar equivalent) from Guyana at a fixed price.  From 1993/94 to 2006 this fixed price 
was €523.7 per tonne for raw sugar.  In 2006, the European Commission started to implement phased 
reductions on quota import prices.  To a lesser extent , preferential access has also  been granted, since 
1995, under the EC Special Preferential Sugar Ag reement (SPS), and under the Complementary 
Quantity in 2006 after the SPS arrangement was terminated. 
7. Both the Sugar Protocol and Agreement ar e being phased out in the context of the 
CARIFORUM-EC Economic Partnership Agreem ents (EPAs) concluded in December 2007 
(see Chapter II(4)(ii)).  As set out in the EPA,  the Sugar Protocol will be terminated on 30 September 
2009.  All sugar exports from CA RIFORUM states will enter the EC duty free and quota free by 
2012, subject to a special safeguard clause.  As an interim step, for the marketing year 2008/9, the EC 
has committed to open an additional tariff rate quota at zero duty for 60,000 tonnes of sugar 
originating in the CARIFORUM states, half of which is reserved for the Dominican Republic.   
8. In the face of these changes, Guyana is taki ng steps to restructure the sugar industry to 
become more competitive by loweri ng costs, increasing production, a nd adding value to core as well 
as diversified products.  Its main initiative is th e Skeldon Modernisation Project launched in 2005.  
This has involved replacing the sugar factory at Skeldon with a new facilit y with the capacity to 
manufacture more sugar at a lower cost.  The project should also be able to provide 8 MW of power to 
the national grid annually.
4  Construction of the new factory has been completed, and functional tests 
are being undertaken with commissioning expected befo re mid year 2009.  It should have the capacity 
to process 1.2 million tonnes of cane annually into mo re than 160,000 tonnes of sugar.  Estimates of 
the reduction in cost of producing sugar as a result of the new factory were not available. 
9. The Government has set a target for sugar production of 400,000 tonnes by 2013.  In order to 
boost sugar production, lands  are being prepared to facilitate mechanical harves ting, a packaging 
facility is being established5, and there has been investment in  infrastructure to encourage cane 
farming by independent producers. 
10. The Guyana Sugar Corporation has also, been diversifying into highe r value-added branded 
(Demerara Gold, Demerara Brown); and has been successful in penetrating the Caribbean market.6  
11. According to the Guyana Rice Development Bo ard, the average export price for Guyanese 
rice ranged from G$42,226.8 per tonne in 2003 to G$56, 379.2 in 2007, which is similar to the world 
market price for rice.  Guyana benefits from pref erential access for its rice exports:  in 2007, 50% of 
rice was exported to CARICOM countries (particular ly Jamaica and Trinidad and Tobago) and 34% 
                                                      
2 In 2007, 77.9% of Guyana's sugar exports were to the EC (70.8% to the U.K.), and nearly 20% to 
other CARICOM countries.  Exports of sugar to the U.S. are much less significant, at  3.6% in 2007. 
3 Statistics provided by the Guyana Rice Development Board and Guyana Sugar Corporation. 
4 ECLAC (2008). 
5 Bank of Guyana (2007). 
6 ECLAC (2008). WT/TPR/S/218 Trade Policy Review 
Page 58 
 
 
to the EC under preferential conditions.  The au thorities note that access to preferential markets 
remains important for Guyanese rice producers, and th at they seek the removal of subsidies in other 
countries.  Efforts have also been under way to bolster rice production:  including through water works and improved research and development ser vices;  seed paddy plants have also been 
constructed to enhance output.
7  In addition, the authorities note th at there has been investment in 
improving irrigation systems, which had fallen into disrepair, through funding by external donors.  
The Rice Factories Act has been amended to help farmers who are experiencing problems to receive payments for their crop on time from millers.
8  A levy of US$4 per tonne for whole grain rice and 
US$2 per tonne for rice by-products is applied to both exports and domestic sales.  This finances the 
activities of the Guyana Rice Development Board. 
12. With respect to developments in the non-traditional sector, Guyana has signed protocols for 
the export of various fruits and vegetables from certif ied farms to St. Lucia, Barbados, and Antigua 
and Barbuda.  The authorities note that there has b een an annual growth of around 10-12% in exports 
of non-traditional products, with emphasis being pl aced on targeting production to meet demand.  The 
products being focused on as having greatest export potential are:  pineapples, peppers, pumpkins, 
plantains, cassava, spices, and beef.  Attention is  also being given to improving management of the 
sector.  Altogether nearly 80 non-traditional commodities are exported from Guyana.  Over the review period, there has been a notable increase in exports  of dried coconut, copra, palm hearts, mangoes, 
pumpkins, and watermelons.
9 
(b) Institutional framework and policy measures 
13. There is no overarching law governing the agricultu re sector but several laws that pertain to 
the sector.  The Ministry of Agriculture is res ponsible for policy formulation, monitoring, and 
implementation as well as some training and technical assistance activities.  In addition, a new National Drainage and Irrigation Authority star ted operations in 2006, replacing the National 
Drainage and Irrigation Board.  Numerous other bodies are active in the sector (Table AIV.1). 
14. The authorities' agricultural policy objectives are:  to facilitate the development of agriculture 
and fisheries in Guyana, thereby contributing to the enhancement of rural life;   sustained improvement 
of incomes of producers and other participants in  the agricultural production and marketing chain;  
and maintenance of a sound physical and institutio nal environment for present and future production 
activities. 
15. In the DDA negotiations on agriculture Guyana 's priorities include the incorporation of 
provisions on special products and a special safegua rd mechanism for developing countries into any 
new agreement.  It has expressed its concern about pr eference erosion and, together with a number of 
other developing countries, supported a proposal th at highly indebted countries should be exempt 
from tariff reductions.
10 
16. Guyana's average applied tariff on agricultural products was 22.5% (WTO definition) in 2008 
(Table III.3).  All tariffs on agricultural products are ad valorem , and applied rates range from zero to 
                                                      
7 Bank of Guyana (2007). 
8 Bank of Guyana (2006). 
9 According to data provided by the authorities, ex ports of dry coconut increased from 5.01 tonnes in 
2003 to 258.04 tonnes in 2007;  copra (218.13 tonnes in 2003, to 2,677.20 in 2007);  palm hearts (1,507.03 tonnes in 2 003 to 1976.72 in 2007);  mango (185.19 tonn es in 2003 to 259.08 in 2007);  hot pepper 
(30.80 tonnes in 2003 to 59.44 in 2007);  pumpkin (114.18 tonnes in 2003 to 514.93 in 2007);  and watermelon 
(151.81 tonnes in 2003 to 316.29 in 2007).  
10 WTO documents WT/MIN(05)/ST/25, 14 December 2005;  and TN/AG/GEN/5, 29 July 2003. Guyana WT/TPR/S/218 
 Page 59 
 
 
100%;  the products attracting applied tariff rates of 100% are meat and edible offal as well as various 
alcoholic beverages, cigars, and tobacco.  The average bound tariff on agricultural products, at 100%, 
was significantly higher than the applied rate. 
17. Under the Customs Act, export duties are levied on unrefined cane sugar at a rate of G$1 per 
tonne and on molasses at G$1 per 100 litres (Chapt er III(3)(ii)).  Under the Sugar Industry Special 
Funds Act exporters are required to pay Customs G$514.50 for every ton of sugar manufactured in 
Guyana and exported outside CARICO M:  97.2% of the funds obtained from this levy go to the Sugar 
Industry Labour Welfare Fund, 2.3% to the Sugar Industry Rehabilitation Fund;   and 0.5% to the 
Sugar Industry Price Stabilisation Fund.11  An additional sugar levy on sugar was removed in 2003.12  
18. Guyana has notified the WTO that it did not provide export subsidies for the years 2003 and 
2004.13  Guyana's most recent notification on domestic support covers the years 2003 and 2004.  In 
2004 all support notified fell under th e Green Box and totalled G$2,656,125.14 
19. A range of tax exemptions are available to farmers under the VAT and Customs Acts 
(Table IV.2).  Information was not available on revenue forgone as a result of these incentives. 
Table IV.2 
Tax exemptions for agriculture 
Legislation Exemptions 
VAT Act Zero rating of various essential food items:  sugar, milk , certain fresh fruits and vege tables, oats, eggs, chicken, lo cally 
produced pork, beef, shrimp, mutton, fish, and locally produced peanuts and cashew nuts 
 Zero rating of certain agricultural input s:  fertilizers; pesticides;  fungicide, herbicide, and weedic ide for agriculture 
purposes;  vegetable seeds;  machinery, equipment or com ponents used in the generation of renewable energy in the 
agriculture sector using agricultural by-products;  paddy;  hatching eggs;  animal medication;  harrows, cultivators, 
scarifiers, ploughs, weeders, and hoes;  machinery used for pr eparing animal feeding stuffs;  approved prepared animal 
feed;  and approved veterinary drugs 
Customs Act Exemption of certain agricultural inputs from custom s duties:  agricultural hand tools and spare parts for agricult ural 
machinery and appliances;  fertilizers, manures, insecticides, fungic ides, herbicides, and inoculants;  approved motor 
vehicles for farm use or the transportation of agricu ltural products;  equipment and materials for beekeeping 
 Exemptions for agriculture products from the general e xport tax rate of 1.5%, except for unrefined sugar cane and 
molasses 
 
Sources:  GRA online information.  Viewed at:  http ://www.revenuegy.org/GRADocs /Zero-Rated%20Items%20 
 Revised.pdf;  and Customs (Amendment) Act 2006 (not available online). 
20. Other government support takes the form of providing agricultural inputs such as machinery, 
seed, and fertilizers;  government support to agricultur e through loans and grants is not available.  
Over the review period a G$1 billion (about US$5 m illion) financial facility was established by the 
Government and funded by the EC to provide credit to  rice stakeholders at 6-11% interest;  support to 
help Guyana diversify its exports has been extended by the IADB.15  Assistance is being provided by 
the International Fund for Agricultural Developm ent to help develop rural farming communities.16 
                                                      
11 Sugar Industry Special Funds Act, Cap 69: 03.  Viewed at: http://www.caricomlaw.org/ 
doc.php?id=2108. 
12 The Sugar Levy Act Cap. 83:01 (http://www.caricom law.org/doc.php?id=2179) was repealed by the 
Sugar Levy (Repeal) Act, No. 11 of 2003 (not available online). 
13 WTO document G/AG/N/GUY/13, 27 May, 2005. 
14 WTO document G/AG/N/GUY/14, 24 June 2005. 
15 IADB online information.  Viewed at:  h ttp://www.iadb.org/news/detail.cfm?language= 
English&id=4189 
16 IFAD Press Release No. IFAD/36/08.  Viewed at:  http://www.ifad.org/media/press/2008/36.htm. WT/TPR/S/218 Trade Policy Review 
Page 60 
 
 
21. According to the authorities, the Governme nt also assists farmers by acquiring improved 
breeding stock and distributing it to farmers;  it pr ovides enhanced extension se rvices to facilitate the 
transfer of technology, as well as seed and planting material at competitive prices. 
(ii) Fisheries 
22. Fishing and related processing activities make a significant contribution to foreign earnings, 
accounting for 7.3% of Guyana's merchandise exports.  An increased focus is being placed on developing a viable aquaculture industry in Guyana.   
23. In 2008, fishing contributed 6.5% to GDP.  While Guyana's fish catch has fluctuated slightly 
over the review period, the catch of small shrimp declined in 2007 (Table IV.3).  Guyana's main 
exports are frozen crustaceans and fresh or ch illed fish, which together accounted for 7.3% of 
Guyana's total exports, at a value of some US$57.3 million.  Most fish products are exported to the 
United States (some 55% in 2007).
17  In 2004, one company (Noble House Seafoods) received formal 
certification from the EC to export fish products to Europe.  
Table IV.3 
Fisheries production, 2004-07 
(Tonnes) 
Product 2004 2005 2006 2007 
Fish 28,527 30,300 25,674 27,500 
Prawns 1,293 1,000 1,500 657 
Small shrimp 17,312 17,117 17,222 14,931 
 
Source:  Information provided by the authorities. 
24. Guyana, together with a number of other deve loping countries, has submitted proposals to the 
Negotiating Group on Rules regarding WTO fisheries subsidies disciplines.  Their position is that 
certain categories of economic activity in the fish eries sector should be excluded from any disciplines 
on fisheries subsidies as applied to small vulnerable coastal states:  access fees and development assistance;  fiscal incentives provided for the deve lopment of their fisheries;  and assistance to 
artisanal or small-scale fisheries.
18  Guyana is also one of a number of Members that have made a 
proposal to the Negotiating Group on Rules on special  and differential treatment in the fisheries 
subsidies negotiations.19 
25. The Ministry of Agriculture is responsible for the formulation and implementation of fisheries 
policy in Guyana, following the merger of the Ministry  of Agriculture and the Ministry of Fisheries, 
Crops and Livestock.  A Fisheries Advisory Committee comprising representatives from the public 
and private sectors was  reinstated in 2007 to  advise the Minister on all fisheries issues. 
26. The main legislation regulating the sector is th e Fisheries Act No. 12 of 2002.  There have 
been no changes to this law during the period under review.  The Act provides for the registry of 
fishing boats with the Chief Agricultural Officer, th e inspection of vessels and the licensing of fishing 
                                                      
17 In 2007, Guyana's main export markets for fish and crustaceans were :  United States (54.6 of total 
exports);  Jamaica (18.9%);  Belgium (7.5%);  Trinid ad and Tobago (5.8%);  Hong Kong, China (3%);  and 
Barbados (2.5%). 
18 The proposals are in WTO documents TN/RL/W/136, 14 July 2003; and  TN/RL/GEN/57/Rev.2, 
13 September 2005;  Other Members that have signed onto one or both of these proposals are:  Antigua and 
Barbuda;  Barbados;  Belize;  Dominican Republic; Fiji;  Jamaica;  the Maldives;  Papua New Guinea;  
Solomon Islands;  St. Kitts and Nevis;  St. Lucia;  and Trinidad and Tobago. 
19 WTO document TN/RL/W/210/Rev.2, 22 June 2007. Guyana WT/TPR/S/218 
 Page 61 
 
 
operations, both domestic and foreign.  Foreigners may obtain a licence to  engage in fishing if they set 
up a local company, or if they engage in test fish ing.  There have been no  changes to the Maritime 
Boundaries Act Cap. 100:01, of 1977, which establish es a territorial sea and a fishery zone that 
extends 200 miles out from the baseline of the territorial sea.20 
27. Guyana's average applied tariff on fish a nd fishery products was 28.8% in 2008 (WTO 
definition), with tariffs ranging from zero to 40% .  Guyana's average bound tariff on these products 
was 50.6%.  Fish and fish products are subject to a general export tax rate of 1.5% under the Customs 
Act, however, in practice this tax is le vied only on fish glue and fish eggs.   
28. Guyana grants tax exemptions to assist the industry.  Certain fishing inputs are zero-rated 
under the VAT Act:  ice for fishing purposes;  fishing nets;  and fish hooks, sheet lead, fishing floats, 
cotton, and Styrofoam for use in the fishing indus try.  In addition, under the Customs (Amendment) 
Act, fishing boats, spare parts and equipment for fi shing boats, and fishing equipment for use in the 
fishing industry are exempt from customs duties.  There is no Government assistance to the fishing 
industry in the form of grants and loans.  
29. Efforts have been made to develop the aquaculture industry in Guyana with the 
encouragement of the Government.  National A quaculture Association of Guyana (NAAG) was 
formed in 2006 as a forum for public and private stakeholders to steer the direction of the industry, to 
facilitate donor financing, and provide  extension services to its members.  In addition the Ministry of 
Agriculture has been involved in developing infrast ructure for the industry.  The authorities indicate 
that there are no limitations to foreign investment  in aquaculture.  The first commercial quantities of 
aquaculture exports to the United States were in 2007.21 
(iii) Forestry 
30. Exports of unprocessed forest products account for around 4.9% of total merchandise exports.  
A policy adopted in 2009 seeks to en courage the export of high qu ality processed wood, by imposing 
an increased rate of commission on the export of certain  species of log.  New legislation to govern the 
sector has been approved by the National Assembly and awaits the President's assent. 
31. The contribution of forestry to Guyana's GDP in 2008 was 1.7%;  in 2007, just over 27,000 
people were employed in the sector.22  Three quarters of Guyana is covered by forest, and there are 
over 1,000 tree varieties.23  Guyana has a total state-owned forest area of 13.6 million hectares, of 
which 5.6 million hectares has been  allocated for commercial purposes.  State-owned forest is divided 
up into several classes, according to use potential.  Around 4.8 million hectares of forest land are not 
state-owned, these are owned mainly by Amerindian communities. 
32. Tariff barriers to imports of forestry products ar e low:  the applied rate is 5% on all tariff 
lines.  Guyana's average bound rate is 86.7%, with  rates ranging from 50% to 100%.  In practice, 
imports are virtually non-existent. 
                                                      
20 The provisions of the Maritime Boundaries Act are summarized in WTO (2003).  For the full text of 
the Act, see CARICOM online information.  Viewed  at:  http://www.caricomlaw. org/doc.php?id=2250. 
21 National Aquaculture Association of Guyana (2008). 
22 GFC online information.  Viewed at:  http ://www.forestry.gov.gy/Downloads/Fact%20Sheet% 
202007.pdf. 
23 GO-Invest (2007). WT/TPR/S/218 Trade Policy Review 
Page 62 
 
 
33. Forest product exports accounted for around 4.9% of total merchandise exports in 2007, with 
a value of US$38.5 million (Table AI.1).24  Under the provisions of the Guyana Timber Export Act 
and the Timber Marketing Act, all exporters of timber must be registered25, be in possession of an 
export certificate, and comply with certain grading and preservation requirements.26  T h e  G u y a n a  
Forestry Commission (GFC) may also recommend  to producers programmes for regulating or 
prohibiting timber exports.  There are no price controls in place.  
34. A new log export policy, introduced on 1 Ja nuary 2009, will increase the commission rates 
levied on certain species of log, annually, over a th ree-year period.  These rates range from 7% of the 
f.o.b. export value in 2009, to between 10% and 12% in 2011.  The authorities note that these 
measures are designed to encourage the export of hi gh quality processed wood, and are distinct from 
royalty payments.27 Export duties are levied on greenheart (round piling and hewn) at G$0.29 per m3 
and greenheart (sawn) at G$5.09 per m3.  Other forest products are ex empt from the general export 
duty rate of 1.5% (Chapter III(3)(ii)).  The Forest Products Developm ent Marketing Council, 
established in 2005, is an advisory body within the Guyana Forestry Commission with the objective 
of promoting the export of forest products. 
35. The Ministry of Agriculture has overall respons ibility for forestry in Guyana, and the sector 
remains regulated by the GFC.  The Forests Act of 1953 (Cap. 67:01), as amended, governs state-owned forests. 
36. Under current legislation, there are no restrictions on who may lease forests, however only 
citizens of Guyana may be granted exploratory permits as individuals, but such permits may be 
obtained by either domestic or foreign corporations.
28  The removal of forest produce is subject to 
royalty payments.  State concessions to be allocated are advertised;  in the granting of awards, levels 
of investment and local employment are taken into consideration.  The authorities indicated that up to 
end 2008, foreign investment in the forestry sector totalled US$160.3 million, and was mainly from Asia and the Caribbean, particularly Trinidad and Tobago. 
37. A new Guyana Forestry Commission Bill was approved by the National Assembly in 2007 
and is awaiting Presidential assent (early 2009).  This Bill has provisions on the operation of the GFC 
and on administrative aspects of forestry management.
29  A new Forests Bill, approved by the 
National Assembly in 2009, and also awaiting Preside ntial assent, would result in the repeal of an 
array of legislation covering the sector.30  This Bill does not contain citizenship requirements for 
obtaining any of the permits granted under the Act;  an export certificate is required before forest 
                                                      
24 According to other data collected by the GFC, the total value of exports of forest products (including 
logs, roundwood, splitwood, plywood, and value- added products) was US$61.5 million in 2007. 
25 Under the Act, timber is defined to include:  logs, tiles, poles, sawn lumber, hewn and sawn squares, 
and other wood products prescribed by the Minister. 
26 Timber Marketing Act, Cap. 67:04. 
27 GFC online information.  Viewed at:  http ://www.forestry.go v.gy/Downloads/Log%20Export% 
20Policy.pdf. 
28 As defined in the Forests Act, an exploratory permit is a permit for operations in connection with 
exploration for the purposes of discovering and evaluating forest produce and includes forest inventories, social 
and environmental impact assessm ents, and topographic surveys. 
29 Guyana Forestry Commission Bill.  Viewed a t:  http://www.forestry.gov.gy/Downloads/Final 
%20GFC%20Bill%20-%20Nov%202006.pdf. 
30 The Forests Bill, if enacted, would result in the repeal of:  Balata Act (Cap. 69:07);  Forests Act 
(Cap. 67:01);  Forest (Miscellaneous Provisions) Act 1982 (No.4 of 1982);  Forests (Exploratory 
Permits)(Amendment) Act (No. 15 of 1997);  Guyana Timber Export Board Act (Cap. 67:03);  Guyana Timber 
Export (Amendment) Act  (No. 26 of 1973);  Guyana Timber Export Board (Transfer of Functions) Act (No. 14 1981);  and the Timber Marketing Act 1973 (Cap. 67:04).  Guyana WT/TPR/S/218 
 Page 63 
 
 
produce may be exported.  Under the Bill, the authorit ies may determine a true market value for forest 
products, below which produce may not be exported. 
(2) MINING  
38. Benefiting from strong world demand, the valu e of Guyana's mineral production expanded 
considerably during the review period;  exports do ubled in nominal terms, contributing one third of 
Guyana's merchandise exports in 2007.  Mining comp anies are eligible for cer tain specific incentives. 
39. Mining accounted for 11.4% of GDP in 2008, down from 12.9% in 2003 (Table I.1).  In 2007, 
exports of mining products accounted  for accounted for 33% of the valu e of Guyana's total exports:  
with gold accounting for 20.2% and bauxite 12.2% (Tab le AI.1).  Exports increased sharply in 2007, 
resulting from increased production volumes as well as prices.  Guyana's imports of mining products 
(excluding fuel) are negligible.31 
40. The Guyana Geology and Mines Commission estimates that over 12,000 Guyanese are 
employed in the sector, the vast majority in small- and medium-scale gold and diamond mining (over 11,000 employees).  The bauxite industry employs around 1,000 people, and around 250 people are employed in the quarrying subsector.  The mining industry has spill-over effects on employment in 
service industries incidental to mineral extracti on, on local businesses producing mining equipment, 
and on the jewellery and construction industries. 
41. Gold is the dominant commodity in terms of value of mineral production (assisted by rising 
market prices), followed by bauxite and then diam onds.  Production volumes of  gold and bauxite have 
fluctuated over the review period, while diamond production has shown a declining trend 
(Table IV.4).  In addition, Guyana's mineral resour ces include industrial minerals (mainly kaolin and 
manganese, but also silica sand, kyanite, feldspar, mi ca, ilmenite, columbite-tantalite, and soapstone,);  
base metals (copper, lead, zinc, molybdenite, tungsten,  and nickel);  ferrous metals (iron as magnetite 
and laterite);  energy materials (uranium);  and semi-precious stones (amethyst, green quartz, black 
pearl, agate, and jasper). 
Table IV.4 
Mining production, 2003-07 
 2003 2004 2005 2006 2007 
Gold (ounces) 376,440 358,428 262,528 205,970 246,200 
Bauxite (tonnes) 1,882,000 1,506,000 1,648,000 1,574,000 2,239,000 
Diamond (carats) 412,537 444,940 356,950 340,944 268,925 
 
Source: Guyana Geology and Mines Commission. 
42. According to the authorities, the small and medium-sized mining operations32 have seen their 
share of total production value double over the review  period, from 31.7% to 64.3%;  the share of 
large-scale mining operations (with areas between  500 and 12,800 hectares) shrank from 65.5% to 
31.8%, as a result of the closure of the Omai Gold mine in 2005.  No figures were available on 
investment in the mining sector. 
                                                      
31 Total imports of mining products, excluding fuel, represented 0.6% of the value of total imports in 
2007 (see Table AI.2). 
32 Small operations are those up to 27 acres or one mile of navigable river;  medium-scale prospecting 
and mining permits cover between 150 and 1,200 acres each. WT/TPR/S/218 Trade Policy Review 
Page 64 
 
 
43. The authorities note that bauxite sales earne d US$101.5 million in 2007, the fourth highest 
contribution to Guyana's export earnings.  At the ti me of Guyana's last Review the Government fully 
owned two of the three active bauxite mining companies, and it had a 50% share in another.  Since 2003, the Government has substantially  reduced its stake in the bauxite  industry.  There are currently 
two large-scale bauxite mining companies active in Guyana, both are private companies, with 
majority private, foreign ownership:  Omai Ba uxite Mining Inc. (OBMI), with 70% ownership by 
Bosai Minerals (of China) and 30% by the Govern ment of Guyana;  and the Bauxite Company of 
Guyana Inc. (BCGI), a joint venture between  RUSAL (a Russian company) which owns 90%, and 
the Government of Guyana, which maintains a 10% stake. 
44. Infrastructural investments are being considered by both of these companies.
33  High 
transportation costs, related to the inability of large vessels to access Guyana's ports, have been 
identified as being of particular concern fo r the bauxite industry (Chapter IV(7)(v)). 
45. With respect to gold, the main development over the review period was the closure of the 
Omai Gold Mine in 2005, Guyana's only large-scale mining operation 95% owned by Cambior (a Canadian company) and 5% owned by the Gu yanese Government.  This mine had accounted for 
most of Guyana's gold production.  All remaining gold mining companies are either small or medium-
sized operations, involving investme nt from Brazil, Canada, and the United States, or are Guyanese 
joint ventures with companies from these countries.  The Government does not have a share in any of 
these companies.  Gold may only be exported by  licensed dealers and the Guyana Gold Board.
34 
46. There have been no changes to the instituti onal framework governing the mining sector since 
Guyana's previous review:  the Prime Minister hol ds the portfolio of mines and minerals and has 
responsibility for policy formulation and implementa tion.  The sector is regulated by the Guyana 
Geology and Mines Commission (GGMC).  The GGM C issues prospecting permits and quarry 
licences and is responsible for enforcing the conditi ons of licences, permits, and concessions granted, 
as well as collecting associated fees. 
47. The Mining Act  remains the principle regulati ng statute and there have been no amendments 
to the Act since 2003.  This legislation vests ownership of all mineral rights with the State.35  Under 
the Act, small and medium-scale operations are restricted to Guyanese citizens, although joint-
ventures with foreign companies are permitted.  Foreign companies may be granted prospecting, 
mining, and quarry licences for large-scale operations.  Permission may be granted for reconnaissance surveys over larger areas.  Arrangements for large- scale operations are formalized and subject to more 
specific requirements.
36 
48. Under the Amerindian Act (2006), mining on Amer indian lands is subject to the consent of 
the respective Amerindian community occupying the land.  The Act explicitly states that under any 
agreements reached, the miner must offer em ployment to residents at market rates37:  employment of 
non-residents is not allowed, unless residents with the required skills are not available.38 
                                                      
33 Stabroek News  online information.  Viewed at:  http://www.stabroeknews.com/2007/news/local/ 
02/14/linden-bauxite-deal-blessed/. 
34 The Guyana Gold Board Act (1981).  Viewed at:  http://www.caricomlaw.org/doc.php?id=2093. 
35 Article 6 of the Mining Act. 
36 WTO (2003). 
37 Under the Act, a resident is defined as an individual "(a) who is an Amerindian who was born in, 
lives in or has his principal place of residence within the village... or (b) who lives within th e Village and is 
recognized as a resident by the membership rules of that village". 
38 Amerindian Act, No. 6 of 2006, Part V. Guyana WT/TPR/S/218 
 Page 65 
 
 
49. Prospecting licences are for three years, and Ministerial approval is required;  they may be 
renewed twice for a period of one year each.  Minist erial approval is also required for permission to 
undertake reconnaissance surveys.  Applications for mining licences are made to the GGMC, which 
has the authority to grant or refuse licences as well as to attach any conditions. Mining licences are 
generally granted for 20 years, with unlimited renewals for seven years at a time.   
50. Royalty payments for gold vary between 3% or  5% of gross proceeds depending on the world 
price of gold39;  for diamonds the payment for small and medium-scale mining is 3% of gross 
proceeds;  for bauxite and non-precious metals the pa yment is 1.5% of either gross revenues or ex-
factory production costs, whichever is greater.  The royalty payments are G$15 per tonne extracted for 
quarry materials (sand, loam, laterite, and clay) a nd G$25 per tonne extracted for stone.  Royalty rates 
are not set out in any regulation, but are decided by the Government.  In 2007, royalty payments to the Government amounted to nearly G$1.6 billion from gold mining enterprises and just over G$142 million from diamond mining enterprises. 
51. Export duties on all mining products are le vied at the general rate of 1.5%.
40  In addition to 
general incentives offered (Chapter III(4)(iv)) various sector-specific fiscal ince ntives are available to 
the mining industry.  For large-scale mining of gold and precious metals, diamonds and precious 
stones, the excise tax on fuel is reduced to 10%;  equipment, process materials and spares used for 
mining and quarrying-related activities are exempt from customs duties, VAT, and excise taxes.  
All-terrain vehicles are also ex empt from customs duties and excise taxes, and are zero-rated under 
the VAT provided certain conditions are met.  Th ere are also VAT and excise tax exemptions for 
outboard engines for up to 75HP.  For small-scal e mining operations, there are VAT and excise tax 
exemptions for all-terrain vehicles, pumps, ma tting, dredge flexes, and expanding metal.  The 
withholding tax is also waived.  The authorities indicate that there are no financing mechanisms 
available specifically to the mining industry. 
(3) ENERGY  
52. A state-owned company has a monopoly on electricity transmission and distribution in 
Guyana, and is the largest power generator.  Electric ity production in Guyana is costly and unreliable, 
and highly reliant on imported fuel.  There is no commercial production of petroleum in Guyana.  
However, there is considerable potential for Guya na to increase hydroelectric generation, and start 
producing crude petroleum in the foreseeable future.  
(a) Electricity 
53. Guyana's estimated installed power capacity is 322 MW.41  Around 83% of the installed 
capacity is thermoelectric and 17% is from bagasse- based co-generation.  No electricity is currently 
generated from hydroelectric power.  Guyana do es not import or export electricity, although the 
authorities indicate that there have been discussions on importing electricity from Venezuela via Guyana's border with Brazil at Lethem.  In 2008,  Guyana generated approximately 823 GWh of 
electricity, of which 69% came from the Guyana Power and Light, Inc. (GPL).  From 1999 to 2003, 
GPL was owned 50% by the Government and 50% by  a private foreign shareholder, and operated 
under a foreign management contract.  Due, however, to management problems and an inability to 
                                                     
 
39 The royalty on gold is levied on a sliding scale:  5% when the world price of gold is above 
US$285/ounce;  4% when the world price is between US$260-US$285/ounce;  and 3% when the world price falls below US$260/ounce. 
40 An export tax of G$0.45 on bauxite is not levied in practice. 
41 This includes GPL, Bosai, Ar oaima, Kwakwani, Guysuco, Ituni, Lethem, Mahdia, Port Kaituma, 
Mabaruma, Matthews Ridge an d other self-generators. WT/TPR/S/218 Trade Policy Review 
Page 66 
 
 
reduce the company's losses, the private shareholde r sold its share in th e company back to the 
Government in early 2003;  since then, GPL has been fully state-owned.42  The Government does not 
have plans to re-privatize GPL;  private participa tion, however, is being encouraged in areas such as 
independent power production, infrastructural works,  and maintenance and operation of the network. 
54. The average price of electricity is some G$64.48 per kWh (around US$0.322) (early 2009);  
the average price is G$56.40 per kWh for residentia l customers, and G$71.15 per kWh for industrial 
users.  It has been observed that electricity pr oduction in Guyana is costly, inefficient, and 
unreliable.43  The authorities indicated that this was due to dependence on imported fossil fuels.  Total 
losses (both commercial and technical) affect around 34% of distributed power, and scheduled black-
outs are frequent.  Thus, much of the private sector relies on its own generators. 
55. Among the challenges faced by GPL is its heavy reliance on imported fossil fuel for 
electricity generation, which exposes Guyana to ch anges in international oil prices.  In 2008, the 
Government provided GPL around G$ 3.3 billion of financial assistance to avoid increasing consumer 
rates while coping with a significant revenue shortf all.  The authorities indicate that this assistance 
was aimed at cushioning the effect of high oil prices. 
56. Efforts to diversify sources of electricity generation are under way:   a number of 
hydroelectric feasibility studies have been undertaken ;  one concrete outcome was the signature of an 
MOU in May 2006 for Synergy Holdings to develop a 100 MW hydroplant in 2013 to supply power to the national grid.  Investigations into potential hy dro-power sites in Guyana suggest that there is up 
to 4,500 MW of electricity gene ration potential from hydro-power resources within the country.  The 
authorities commented, however, that most of the potential hydro-power plant sites are a long way 
away from the coastal ar ea where most of the population lives, hence transmission costs may make 
such projects economically unfeasible.  Construction of a sugar factory capable of supplying 8 MW of 
electricity to the national grid is being completed (early 2009) (Chapter IV(2)).  Details of a power 
purchase agreement have been discussed  and a stability study is to be completed with respect to a 13.5 
MW wind farm. 
57. Regulatory and policy-making responsibility for the electricity sector is under the Office of 
the Prime Minister:  this includes granting licences,  approving development a nd expansion plans, and 
approving operating standards for the principle elect ricity supplier.  The Public Utilities Commission 
is charged with monitoring and enforcing licen sees' commitments, as well as approving tariffs 
charged by public suppliers.  The Guyana Energy Ag ency advises the Office of the Prime Minister on 
whether expansion plans are consis tent with national energy policy.
44  A Power Sector Policy is being 
implemented to address developments in the power sector. 
58. The main law governing the electricity sector is  the Electricity Sector Reform Act, Cap. 
57:01, of 1991.  This Act, inter alia,  sets out the conditions under which licences may be granted for 
the generation and provision of elect ricity (including thermal generati on, and renewable sources).  All 
electricity suppliers must be licensed, with the exce ption of suppliers authorized prior to the Act or 
exempt by order from the Minister.45  In addition, individuals and businesses owning generating 
equipment and supplying only themselves do not require a licence.  Licensing requirements for the generation and supply of hydro-electri c power are set out in the Hydroelectric Power Act, Cap. 56:03.  
                                                     
 
42 Government of Guyana (2007) contains background information on the partial privatization of the 
electricity sector in 1999. 
43 IMF (2007b). 
44 For a summary of Guyana's 1994 energy policy, see Government of Guyana online information.  
Viewed at:  http://www.electricity.gov. gy/ policies.php?id=energ y2.txt.  This policy has not been superseded. 
45 Electricity Sector Reform Act, Cap. 57:01, Section 4. Guyana WT/TPR/S/218 
 Page 67 
 
 
This Act vests the State with ownership of all water power that can be used to generate electricity, as 
well as essential related land.  Licences under the Act to use water to generate electricity are granted 
by the President, and they may set out the price at which electricity may be sold, subject to review 
every five years.  Licences may be granted for an in itial period of up to 50 years, and may be renewed 
for an additional period of up to 50 years.  Acco rding to the authorities, a review of the legal and 
regulatory environment under which GPL operates is ongoing. 
59. On 1 October 1999, GPL was granted a 25 year licence46, giving it a monopoly over 
electricity transmission and distribution in the country .  GPL also had an exclusive right to generate 
electricity until October 2004, however, this is now non-exclusive;  competitive generation by 
independent power producers is being actively encour aged by the Government.  Under the Electricity 
Sector Reform Act, licences may be granted to other suppliers if GPL declines to supply certain areas:  
as at March 2009, there were an additional five licensees mainly supplying specific industries and 
outlying areas.  In addition, exemptions from lic ensing requirements are permitted under the Act and 
have been extended to Roraima Trust and Invest ment Inc, the Guyana Telephone and Telegraph 
Company, Inc., and the Guyana Sugar Corporation, Inc.47 
60. Electricity supplied by Guyana Power and Light  is zero-rated for VAT, as is machinery or 
equipment for generating electricity from non-traditional sources for household purposes. 
(b) Petroleum 
61. There has never been any commercial production of oil in Guyana but recent work suggests 
that there are significant production prospects.  C oncessions have been granted to six companies for 
exploration but not for extraction (as at March 2009 ).  Petroleum has been discovered at the Takutu 
Basin inland in the Rupununi District;  and explora tion activities have been undertaken at the offshore 
Guyana Basin and the onshore coastal section of the Guyana Basin. 
62. Since there is currently no production, Guyana  is entirely dependent on imports for its oil 
supply.  In 2007, Guyana's imports of petroleum- based fuels amounted to 24% of the value of total 
imports (Table AI.2.).  Guyana does not have its own oil refinery.  Licences to import petroleum and 
petroleum products are issued by the GEA.  Imports are marked by the GEA to identify that they have 
been imported legitimately, and a marking fee of G $0.60 per litre must be paid by the importer.  The 
GEA must also be advised of the arrival a nd movement of all imported petroleum products.48 
63. Guyana signed the Petrocaribe Energy Co-ope ration agreement in September 2008.  In the 
same year, just over 1.4 million barrels were importe d.  Under the agreement, Guyana benefits from 
long-term financing based on a sliding-scale formula;  as the price of petroleum products varies from 
US$15 to US$150 per barrel, Guyana pays between 100%  and 30% of the value of the shipment in 
cash, and the remainder is converted into financing at  an interest rate of between 1% and 2% over a 
17- to 25-year period. 
64. There have been no changes to the main laws governing petroleum production during the 
period under review.  The Petroleum (Production) Act,  Cap. 65:05 vests the State with ownership of 
                                                      
46 Government of Guyana online information.  Viewed at:  http://www.electricity.gov.gy/gpl_ 
licence.pdf. 
47 For a list and further information on other licensed operators, as well as exempt providers, see 
Government of Guyana online information.  Viewed  at:  http://www.electricity.gov.gy/licence.php?id= 
operators.txt. 
48 These provisions are set out in the Guyana Energy Agency (Amendment) Act, No. 3 of 2004. WT/TPR/S/218 Trade Policy Review 
Page 68 
 
 
petroleum.  The Petroleum (Exploration and Pr oduction) Act No. 3 of 1986, Cap. 65:10, and 
implementing regulations address issues related to prospecting for and production of petroleum. 
65. A licence is required to engage in petroleum e xploration.  Petroleum prospecting licences are 
granted for an initial period of four years.  Licences  may be renewed twice, each for a period of three 
years.  Petroleum production licences are for 20 years;  Licences are renewable for periods of 
10 years.  As noted in Guyana's previous Review , licences may not be granted to individuals unless 
they are citizens of Guyana, but may be granted to foreign or domestic corporations.  Decisions to 
grant licences for the production of petroleum take into account several factors, including the applicant's proposals for the employment and training of citizens of Guyana, and proposals with 
respect to the procurement of goods and services obtainable within Guyana.
49 
(4) MANUFACTURING  
66. Although sector assistance to manufacturing appear s limited in absolute terms, some activities 
potentially receive significant effective protection due to the availability of import duty exemptions 
for inputs.  Despite this, the manufacturing sector remains small and largely focussed on the processing of primary products. 
67. In 2008, manufacturing including food processing  contributed 6.7% to GDP (Table I.1).  
Guyana is a net importer of manufactured goods (SIT C).  In 2007, Guyana's imports of manufactured 
products accounted for 61% of the value of tota l imports (amounting to some US$628 million).  
Guyana's main imports were machinery and tr ansport equipment: principally non-electrical 
machinery, office machines and telecommuni cations equipment and automotive products 
(Table AI.2).  In the same year, Guyana's expor ts of manufactured products accounted for 18.1% of 
the value of total exports (some US$142 million):  the main items were semi-manufactured products 
(mainly unmounted diamonds) which accounted for 8.8% of the value of total exports. 
68. The manufacturing sector has largely been fo cussed on processing traditional agricultural 
products such as rice and sugar, forest products, and minerals, as well as the production of basic 
consumer items, beverages, and pha rmaceutical products for local consumption.  There has, however, 
also been a recent drive to develop export-orient ated manufacturing industries, taking advantage of 
preferential access to third markets.  New areas include:  garment and apparel manufacturing;  value-added forest products;  agri-processing;  packaging,   leather crafts;  ceramics;  and construction 
materials.
50 
69. The Industry Department of the Ministry for Tourism, Industry and Commerce is responsible 
for promoting industrial development and the manage ment of industrial estates with the overall aim of 
encouraging investment in manufacturing. The Guyana Manufacturing and Services Association, a private organization, provides policy advocacy, mark eting, and technical assistance to manufacturing 
firms.   
70. The average applied MFN tariff rate for the manufacturing sector, defined in accordance with 
the International Standard Indus trial Classification, was 11.3%, just under the average protection 
afforded to the economy as a whole (see Table III.3)  Under the Customs and Excise Act, manufacturing inputs that undergo a substantial tr ansformation or change in the their essential 
character are exempt from import tariffs.  Guyana o ffers tariff concessions on inputs used in a number 
of approved manufacturing activities (see Chapter III(2)(iv)(b)). 
                                                     
 
49 WTO document WT/TPR/S/122, 1 October 2003. 
50 Go-Invest online information.  Viewed at:  http://www.goinvest.gov.gy/manufacturing.html. Guyana WT/TPR/S/218 
 Page 69 
 
 
71. To assist the development of the manufacturing sector, the Government offers various 
specific tax incentives for the production and export of  manufactured goods (Table IV.5), in addition 
to horizontal incentives offered (Chapter III(4)(iv)). 
Table IV.5 
Fiscal incentives to manufacturing industries, 2009 
Legislation Incentives offered 
Customs Act Exemption from customs duties for materials used to manufacture spirits, beer, cider, and wine;  and materials not 
obtainable or manufactured in Guyana considered to be  raw materials and packaging materials for use in the 
manufacture of goods by manufacturers and small businesses 
Exemption from general export duty rate of 1.5% 
VAT Act Zero-rating of specifically loca lly produced manufactured goods:  jams, jellie s and peanut butter;  bed sheets, pillow 
cases, towels, rags, curtains, handkerchiefs, rugs, mats, tabl e covers, shelf covers, blanke ts and ribbons;  and locally 
produced garments  
 Zero-rating of a large variety other manufactured  goods (both imported and domestically produced) 
Zero-rating of raw materials to be used in the production of goods subsequently exporte d, provided the taxable person 
exports 50% of production 
 
Source:  Customs Act Cap. 82:01 and VAT Act No. 10, 2005.   Viewed at:  http:// www.revenuegy.org/laws.php. 
(7) SERVICES  
(i) Main features 
72. Services (not including engineering and constr uction) accounted for 50.2% of Guyana's GDP 
in 2008.  The main subsectors identified in the national economic statistics are government services, 
followed by transport and communication, then di stribution, followed by rental of dwellings 
(Table I.1).  The authorities note that statistics on services trade in Guyana are limited and do not fully 
reflect trade flows, and that assistance is being provided by Inter-American Development Bank to 
develop a services trade database to remedy the situa tion.  This project is expected to commence in 
2009.  A recent report estimates that there are around 1,094 companies in the services sector, 
employing around 23,711 people.51  There have been no signifi cant changes to the legal and 
regulatory frameworks for telecommunications, fina ncial, maritime, and air transport services. 
73. While Guyana specific commitments under the GATS cover only 18 of the 160 services 
subsectors or five of the 12 broad areas defined in the Services Sectoral Classification List:  business, communication, financial, tourism, and transport services (Table IV.6), in most cases the 
commitments it has taken are subject to only a few limitations. 
74. In its horizontal commitments, Guyana left the movement of natural persons (mode 4) 
unbound except for market access with respect to measures relating to senior management personnel 
and technical experts not available in the local la bour market, and for national treatment to those 
categories of natural persons.  No list of MFN ex emptions was presented.  Guyana has submitted an 
initial conditional offer in the services negotiations, covering business services, distribution services, 
and transport services.
52 
75. Provisions for the liberalization of services with in the CARICOM are contained in Chapter 3 
of the Revised Treaty of Chaguaramas.53  Members undertook to notify the Council for Trade and 
                                                      
51 Government of Guyana / USAID (2007). 
52 For further information see WTO online informa tion:  http://www.wto.org /english/tratop_e/serv_ 
e/s_negs_e.htm; and Government of Guyana / USAID (2007). 
53 Revised Treaty of Chaguaramas.  Viewed at:  http://www.caricom.org/jsp/community/revised_treaty-
text.pdf.  See also:  http://www.caricom.org /jsp/single_market/services.jsp?menu=csme. WT/TPR/S/218 Trade Policy Review 
Page 70 
 
 
Economic Development (COTED) of existing restricti ons to services in all four modes of supply, to 
abolish discriminatory restrictions on the provision of services in respect of CARICOM nationals, and 
not to introduce any new services restrictions.  In th e context of this review, the Guyanese authorities 
noted that those restrictions were largely historical , and that in practice Guyana maintained virtually 
no restrictions on the provision of services by CARICOM nationals. 
Table IV.6 
Summary of Guyana's specific commitment s in individual service sectors, 2009  
 Market Access National Treatment 
Mode of supply         
Cross border 1    1    
Consumption abroad  2    2   
Commercial presence   3    3  
Presence of natural persons    4    4 
Commitments (■ no limitations (none); ◨ partial commitment; □ no commitments (unbound); − not in the Schedule)  
1. Business services         
 A. Professional services          
 a. Legal services  ■ ■ ■ □ ■ ■ ■ ◨ 
 b. Accounting, auditing, and book-keeping 
  services  ■ ■ ■ □ ■ ■ ■ □ 
 d, e. Engineering and architectural services ■ ■ ■ □ ■ ■ ■ □ 
 h. Medical and dental services ■ ■ ■ □ ■ ■ ■ □ 
2. Communications services          
Value-added services         
 j. On-line informa tion and data base 
  retrieval ■ ■ ◨ □ ■ ■ ■ □ 
3. Construction services  - - - - - - - - 
4. Distribution services  - - - - - - - - 
5. Education services  - - - - - - - - 
6. Services related to the environment  - - - - - - - - 
7. Financial services          
 B. Banking and other fina ncial services (excl. 
  insurance)         
 a. Acceptance of deposits and other 
  repayable funds from the public ■ ■ ■ □ ■ ■ ■ □ 
 b. Lending of all types, incl. inter alia 
  consumer credit, mortgage credit, 
  factoring and financing of commercial 
  transactions ■ ■ ■ □ ■ ■ ◨ □ 
 A. Insurance services         
I. Direct insurance         
 a. Life, accident, and health insurance 
  services ■ ■ ■ □ ■ ■ ■ □ 
 b. Non-life insurance services ■ ■ ■ □ ■ ■ ■ □ 
 d. Services auxiliary to insurance (including 
broking and agency services) ■ ■ ■ □ ■ ■ ■ □ 
8.  Social and health services  - - - - - - - - 
9.  Tourism and travel related services          
 A. Hotels and restaurants  □ ■ ■ □ □ ■ ■ □ 
 B. Travel agencies and tour operators services  ■ ■ ■ □ ■ ■ ■ □ 
10. Recreational, cultural and sports services  - - - - - - - - 
11. Transport services          
C. Air transport services         
 a. Aircraft repair and maintenance services ■ ■ □ □ ■ ■ □ □ 
 c. Computer reservation system ■ ■ ■ □ ■ ■ ■ □ 
 F. Road transport services         
 a. Passenger transportation ■ ■ ■ □ ■ ■ ■ □ 
 b. Freight transportation ■ ■ ■ □ ■ ■ ■ □ 
 e. Supporting services for road transport 
services ■ ■ ■ □ ■ ■ ■ □ 
12. Other services - - - - - - - - 
Source : WTO document GATS/SC/37, 15 Ap ril 1994;  and WTO Services Database;  and WTO document 
 MTN.GNS/W/120, 10 July 1991 (Servi ces Sectoral Cla ssification List). Guyana WT/TPR/S/218 
 Page 71 
 
 
76. The Caribbean Community (Movement of Factor s) Act, No. 7 of 2006, gives nationals of 
CARICOM member states the right to provide services in Guyana without discrimination on the grounds of nationality. 
77. Incremental steps have also been taken towards the stated goal of free movement of 
CARICOM nationals (Chapter 3, Article 45 of th e Revised Treaty), and this may encourage intra-
CARICOM trade in services through the presence of natural persons (mode 4).  Nine groups of 
persons are currently permitted to work and reside in any of the CSME member states without a work 
permit:  university graduates, media workers, sports  persons, artists, musicians, qualified artisans, 
non-graduate qualified teache rs, and nurses, and holders of associate degrees and their equivalents.
54  
The Caribbean Community (Free Entry of Skilled Na tionals) Act, implements these requirements in 
Guyana with respect to skilled nationals  who are holders of university degrees55, and an order made 
under the Immigration Act (No. 17 of 2003) implements  this requirement with respect to some of the 
other categories of skilled nationals, but  only from certain CARICOM countries. 
78. There are various provisions on services in th e CARICOM free-trade agreements with third 
parties (Chapter II, Table AII.2).56   
(ii) Financial services 
79. Since Guyana's last Review, there has been no significant change to th e regulatory framework 
or the structure of its financial sector.  Foreign fi nancial institutions wishing to establish themselves in 
Guyana receive national treatment.  All insuranc e companies must register with the insurance 
authority, while banking and other financial in stitutions must obtain a licence from the Bank of 
Guyana.  The banking system appears sound and th e authorities are taking steps to further strengthen 
supervision and improve fi nancial intermediation.  In the contex t of the global financial crisis, the 
authorities have temporarily suspended the issuance of new banking licences.  Guyana's GATS commitments are extensive both in relation to banking and insurance. 
(a) Market structure and performance 
80. In December 2008, the financial sector's total assets were equivalent to 158% of Guyana's 
GDP;  63% where held by commercial banks, 26% by  non-bank financial inte rmediaries, and 11% by 
insurance companies.
57  The sector contributed 4.5% to Guyana's GDP in 2008.58  In 2008, there were 
approximately 32 bank branches per million inhabitants and a credit to deposit ratio of 46%;  both of 
which are low compared with other countries in the region.59  Interest rate spreads remained high 
                                                      
54 WTO document WT/TPR/S/203/R ev.1, 16 December 2008;  and CA RICOM online information.  
Viewed at:  http://www.caricom.org/jsp/single_market/s kill.jsp?menu=csme;  and http://www.caricom.org/jsp/ 
single_market/csme_implementation.jsp?menu=csme. 
55 Caribbean Community (Free Entry of Skilled Na tionals) Act, Cap. 93:02.  Viewed at:  
http://www.caricomlaw.org/doc.php?id=2225. 
56 For more information on the treatment of profe ssional services in the EC CARIFORUM EPA see:  
CRNM (2008). 
57 Bank of Guyana (2008). 
58 Guyana Bureau of Statistics online information.  Viewed at:  http://www.statisticsguyana.gov.gy/ 
pubs.html#statsbull. 
59 WTO Secretariat based information prov ided by the Guyanese authorities.   WT/TPR/S/218 Trade Policy Review 
Page 72 
 
 
throughout 2003-08, at around 12 percentage points.60  In 2008, total gross insurance premiums were 
equivalent to 8.6% of GDP.61 
81. In 2008, Guyana's financial system comprised mainly six commercial banks, fourteen 
insurance companies, thre e finance companies, three microfinance  institutions, three trust companies, 
two asset management companies, one merchant bank and one building society.  Three of the 
commercial banks are controlled by Guyanese investor s and the other three by foreign banks;  there 
were neither mergers nor acquis itions among banks during the period under review.  The State no 
longer takes part in the banking sector, as it sold all of  its participation during the last review period 
(1997-2003).  The three largest banks hold about three fourths of the banking system assets.62 
82. The soundness of Guyana's banking system appear s to have strengthened, mainly, as a result 
of a significant decrease in the share of non-performi ng loans to total loans.  Prudential requirements 
appear to be largely compliant with internationa l standards, but further regulatory reforms may be 
necessary to continue strengthening supervision.  Am ong others, there seems to be a need to step up 
supervision of credit standards and loan portfolio classification.  In this respect, in December 2008 
Guyana started a financial sector reform progr amme supported through a loan from the Inter-
American Development Bank (IADB).63  The programme's main objective is to improve access for 
firms and individuals to financial services via an increase of transparency and an improvement in supervision. 
(b) Regulatory framework 
Banking 
83. Guyana's GATS commitments cover:  the accep tance of deposits and other repayable funds 
from the public;  and lending of all types, including consumer credit, mortgage credit, factoring and 
financing of commercial transaction.
64  In both of these subsectors, with one exception, Guyana made 
full commitments in modes 1, 2 and 3, thus undert aking not to impose market access limitations or 
national treatment restrictions;  the exception concer ns national treatment in mode 3 for "lending of 
all types", where Guyana stipulated that loans to  non-residents require the approval of the Bank of 
Guyana.  These commitments are undertaken in accordance with the Understanding on Commitments 
on Financial Services. 
84. The Ministry of Finance is responsible for defining banking sector policy.  Under the Bank of 
Guyana Act of 1998 and the Financial Institutions Act of 1995, the Bank of Guyana has statutory 
responsibility for issuing banking re gulations and authorizing and s upervising all licensed financial 
institutions in Guyana.  An important exception is the New Bu ilding Society (NBS), established under 
the New Building Society Act of 1940 (Cap 36:21), wh ich is not supervised by the Bank of Guyana or 
by any other governmental body.  The authorities note, however, that the National Assembly is 
analysing a proposal to bring the NBS under the Bank of Guyana's supervision;  this proposal is 
expected to be sent to the National Assembly before the end of 2009.  
                                                      
60 The interest rate spread has been calculated using commercial banks' prime lending rate and 3-
months deposit rate. 
61 Commissioner of Insurance online information.  Vi ewed at:  http://www.ins urance.gov.gy/insurance. 
html. 
62 Information provided by the Guyanese authorities. 
63 IADB online information.  Viewed at:  http ://www.iadb.org/projects/Project.cfm?project=GY-
L1016&Language=English. 
64 WTO document GATS/SC/37, 15 April 1994. Guyana WT/TPR/S/218 
 Page 73 
 
 
85. Article 38 of the Revised CARICOM Treaty ca lls for the removal of all discriminatory 
restrictions on financial services among CARICOM Member countries.  The authorities note that this issue is being discussed by CARICOM's Council for Finance and Planning.   
86. There were no significant changes to the legal framework governing banking services in 
Guyana during the period under review.  The Financ ial Institutions Act of 1995, together with the 
Bank of Guyana's regulations, form  the supervisory guidelines for financial institutions.  The Act was 
amended in 2004 to include new provisions regarding directors, officers, and temporary state control 
of financial institutions. 
87. The Financial Institutions Act states that any co mpany that seeks to provide financial services 
in Guyana must obtain a licence from the Bank of G uyana.  The Act distinguishes between licences to 
conduct "banking business" or "financial business".  The former category of licence allows for the 
acceptance of demand deposits and their use to extend credit, while the latter does not.  A holder of a 
"banking business" licence (a bank) may also conduct any "financial business" subject to the 
provisions of the Act.  The applicati on form requires information regarding, inter alia , the applicant 
(name, address, nationality, etc), the proposed activity , and the company's articles of incorporation;  
the form must be accompanied by an appli cation fee of G$25,000 (some US$125).  The Bank of 
Guyana must act upon any application within 120 da ys of its acceptance, or within 180 days in the 
case of a foreign company.  The authorities indicat e that the Bank of Guyana temporarily suspended 
the granting of new banking licences in late 2008, to both domestic and foreign investors, in order to 
evaluate the impact of the current  international financial crisis.  
88. Every licensed financial institution (LFI) requir es an authorization from the Bank of Guyana 
to open a new place of business in Guyana, fo r which it must pay a fee of G$500,000 (some 
US$2,500) or G$250,000, depending on the location.  The minimum paid-up capital required of a LFI 
that accepts any type of deposit, whether incorpor ated in Guyana or abroad, is G$250 million (some 
US$1.25 million).  However, the Parent Company of a foreign branch or subsidiary must have paid-
up capital of at least G$2.5 billion (some US$12.5 m illion) in its home country.  LFIs of any kind are 
not allowed to grant loans, advances, financial gua rantees, or other extensions of credit and other 
liabilities in excess of 25% of their capital base to a single individual or 40% for a single borrower 
group with inter-dependent incomes. 
89. No shareholder is permitted to hold more than 25% of the shares of any LFI (including via 
merger or acquisition) unless authorized by the Bank of Guyana;  the only exception is a capital 
expansion of the LFI in which the shareholder alread y had ownership control.  As defined in the Act 
the shareholder must be a person "fit and proper" to conduct financial business in Guyana;  there are 
no nationality requirements.  After obtaining the appr opriate licence (see a bove), a foreign bank may 
establish a branch or a subsidiary, but not a repre sentative office;  a foreign subsidiary must be 
incorporated in Guyana. 
90. In general, a LFI that accepts deposits may not engage, directly or indirectly, in wholesale or 
retail trade, including foreign trade.  Additiona lly, it may not own shares of a single commercial 
company in excess of 25% of its own capital base. 
91. Domestic banks, corporations or individuals are free to make deposits with foreign banks 
located abroad, but they must obtain permission from the Ministry of Finance before borrowing in foreign currency from foreign banks located abroad.  Only authorized cambio  dealers and exporters 
may maintain and operate a foreign currency account in a bank in Guyana.
65  In the case of exporters, 
                                                      
65 Foreign Exchange (Miscellaneous Provisions) Act of 1996 (Cap. 86:01). WT/TPR/S/218 Trade Policy Review 
Page 74 
 
 
prior approval is required from the Ministry of Fi nance;  applications are generally granted to 
exporters who require imported inputs for productio n, or that have external loan obligations.  
92. There is no bank deposit insurance scheme in Guyana. 
Insurance 
93. Guyana's GATS commitments on insurance are pa rticularly broad, covering all insurance 
services except for reinsurance and retrocession.66  In all the subsectors covered, Guyana made full 
commitments in modes 1, 2 and 3, which engage Guyana not to impose market access limitations or 
national treatment restrictions under any of these three modes of supply.  These commitments are undertaken in accordance with the Understandi ng on Commitments on Financial Services. 
94. The Insurance Act No. 20 of 1998 and its regula tions form the legal framework that governs 
insurance services.  The Office of  the Commissioner of Insurance (OCI) regulates and supervises the 
industry.  The Act requires all insurance companies, brokers, and agents to be registered with the OCI 
if they intend to provide insurance services in Guyana, including the provision of cross-border supply 
of insurance services to Guyanese residents.  The Commissioner is appointed by the Minister of 
Finance, to whom the Commissioner must report di rectly.  As allowed by the Act, the OCI has 
delegated to the Insurance Association of Guyana th e evaluation of applications of insurance agents. 
95. Only companies or associations of underwriters  may carry on insurance business in Guyana.  
Also, only companies or partnerships may act as brokers;  no controller, officer or employee of an insurance company may apply for registration as a broker.  Any company, including foreign companies, may apply for registration with the OCI.   The application form must be accompanied by 
an application fee of G$250,000 (some US$1,250). 
96. The registration takes the form of a certificate,  which specifies the class of insurance business 
the company may undertake.  Accord ing to the Insurance Act, there are two main groups of classes:  
long-term insurance business a nd general insurance business.
67  A company may register under any 
number of classes, but are required to keep separat e accounts for each class of  insurance activities in 
which they engage. 
97. Companies applying for registration are re quired to deposit:  G$5 million (some US$25,000) 
per class of business in the case of a long-term insurance business;  or 20% of the net premium income of the insurer during the financial year preced ing the deposit, or G$5 million if greater, in the 
case of any class of general insurance business.  In 2008, there were four life insurers, nine general 
insurers, and one company offe ring both types of insurance.
68   
                                                      
66 WTO document GATS/SC/37, 15 April 1994. 
67 Long-term insurance business classes are:  general life, health, and pensions.  General insurance 
business classes are:  accident and liability , auto, marine and aviation, and fire. 
68 Information provided by the Guyanese authorities. Guyana WT/TPR/S/218 
 Page 75 
 
 
98. The OCI may prohibit a registered company from writing new policies in any class of 
insurance business if it is in the interest of the po licy-holders or prospective policy-holders to do so.  
The company must receive prior notification and may appeal the decision.  Disputes and complaints are handled by the Insurance Arbitration Board,  which comprises a representative from the OCI, a 
representative of the Insurance Association of Guyana , and a representative of the insurance brokers.  
Decisions of the Board may be appealed to the High Court.
69 
99. There is no specific legislation concerning the provision of insurance services offered by 
reinsurers.  
100. The OCI is committed to adopting the principles of  the International Association of Insurance 
Supervisors (IAIS), and, as a recent member of the Caribbean Association of Insurance Regulators, is 
committed to ensuring regulatory harmonization within the CARICOM.70 
(iii) Telecommunications 
101. Guyana's telecommunication sector is characterized by a de jure  monopoly in fixed telephony 
and a de facto  duopoly in mobile telephony.  There are no national treatment limitations for the 
participation of foreign investors.  The re gulatory framework governing the sector remains 
incomplete, and this affects the development of the sector and of other telecom-dependant businesses.  
Acknowledging the importance of addressing this probl em, the Government is taking steps to issue 
new legislation by mid 2009. 
(a) Main features 
102. In 2008, the communication (including teleco mmunication) and transport sectors together 
contributed 13.2% to Guyana's GDP.71  In 2006 (latest year available), investment in public 
telecommunications reached US$48.9 million,  the majority in mobile telephony.72 
103. Between 2003 and 2008, the number of fixed telephone lines grew at an average annual rate 
of 11.2%, reaching a teledensity  rate of approximately 18%.73  Over the same period, the number of 
mobile subscriptions increased at an average annua l rate of 44%, reaching a penetration rate of 
approximately 69 subscriptions per 100 inhabitants.  The vast majority of mobile subscribers are 
under a pre-paid billing regime.  In 2005, penetration rates for internet subscribers and internet users 
were estimated at 6.4% and 18.1%, respectively.74  Broadband internet service was estimated to cover 
just under 1% of the population in 2008, which re presents a relatively slow and limited adoption of 
this technology.75 
104. Guyana's principal telecommunications operato r, Guyana Telephone a nd Telegraph Co. Ltd. 
(GT&T), is controlled by Atlantic Tele-Network  Inc. (ATN), a private company based in the 
United States.  ATN owns 80% of GT&T's shares , while the remaining 20% is still owned by the 
Government of Guyana.  GT&T has de jure  monopoly (see below) over fixed telephony and 
international voice and data transmissions.  However,  there is signifant contention in relation to the 
parameters of the GT&T licence and it is not clear whether the licence is limited in terms of service 
                                                      
69 WTO (2003). 
70 OCI online information.  Viewed at:  http://www.insurance.gov.gy/laws.html. 
71 Bank of Guyana (2008). 
72 Information provided by the Guyanese authorities. 
73 Braithwaite (2007);  and information provided by the Guyanese authorities. 
74 ITU (2007) and (2008). 
75 Information provided by the Guyanese authorities. WT/TPR/S/218 Trade Policy Review 
Page 76 
 
 
provided via technology that was available in 1990 wh en the licence was granted.  GT&T has lost its 
market leadership in mobile telephony to Digicel, a mobile operator with presence in most of the 
Caribbean and Central America that acquired Cel*St ar Guyana Inc. in 2006;  Digicel had a 53% 
market share in December 2008.  The Government  issued two other licences for the provision of 
mobile telecom services but, during the review pe riod, one was cancelled as the provider didn't start 
operations and the other was not renewed sin ce the service was not functioning properly. 
105. The National Information and Communication Tec hnology for Development Strategy of 2006 
proposes to encourage the establishment of new internet-enabled businesses, such as data 
warehousing, data entry and processi ng, software development, and call centres.  It also recommends 
the introduction of competition at all levels within the sector.76  Another Government Report notes the 
potential of Guyana's information and communications technology (ICT) sector, but points out that this will only develop when the costs of interna tional telecom services are reduced and the regulatory 
framework for data transmission is free of ambiguities.
77  The authorities note that in order to take 
advantage of Guyana's affordable labour costs and linguistic, cultural, and time-zone affinities with 
major markets in North America, the Government is committed to fully liberalize the sector and 
negotiate a new non-exclusive licence for GT&T. 
(b) Regulatory framework 
106. Guyana's GATS Schedule of Commitments includes only one communications subsector, 
"online information and data base retrieval".78  Guyana made full commitments for modes 1, 2 and 3, 
with the exception of commercial presence under mark et access, where Guyana specified that public 
telecommunication transport networks and servi ces were being provided by a monopoly supplier 
operating under a 20-year licence with an option to renew for a further 20-year period.  Guyana did 
not participate in the extended negotiations on b asic telecommunications nor has it adopted the WTO 
telecommunications reference paper. 
107. The Public Utilities Commission (PUC) is respons ible for regulating most public utilities, 
including telecom operators with respect to tariffs , interconnection, expansion programmes, and to the 
quality of service offered.  The post of Dir ector of Telecommunications, created by the 
Telecommunications Act of 1990, was filled in Nove mber 2007 with a mandate to advise the Minister 
on the grant of licences, to advise the Minister on sector policy development and regulate certain technical aspects of the operations of licensees.  However, as at early 2009, the Director had no staff or other facilities to ensure the full discharge of its f unctions.  As stated in Guyana's last Review, there 
are concerns regarding the overlap of regulatory powers between the Director and the PUC, but the 
two entities have collaborated on the basis of prac tice and precedent in ar eas such as consumer 
complaints.  Numbering and spectrum management are the responsibility of the National Frequency 
Management Unit (NFMU).
79  The interaction between the Public Utilities Commission and the newly 
established Competition Commission has not yet been defined.  
108. The Post and Telegraph Act of 1894 (Cap. 47:01) governs telegraphic communication and 
certain issues related to the construction of public communications networks.  The 
Telecommunications Act of 1990, as amended, est ablishes the regulation of telecommunication 
services and broadcasting transmitted via cable.80  The latter authorizes the Director of 
Telecommunications to develop and adopt a telecomm unications code.  In this respect, the authorities 
                                                      
76 Government of Guyana online information.  Viewed at:  http://www.ict4d.gov.gy/. 
77 Ministry of Tourism, Industry and Commerce (2005). 
78 WTO document GATS/SC/37, 15 April 1994. 
79 NFMU online information.  Viewed at:  http://www.nfmu.gov.gy/index.htm. 
80 Other broadcasting services are governed by the Post and Telegraph Act of 1894 (Cap. 47:01). Guyana WT/TPR/S/218 
 Page 77 
 
 
note that the Government is drafting a new legi slative, regulatory, and licensing regime, which 
includes provisions, inter alia,  on pricing, competitive safeguards,  interconnection, and universal 
services.  The authorities expected that the drafting of the new regime to be completed by mid 2009. 
109. Under the Telecommunications Act of 1990, every company is required to obtain a licence 
before providing any telecom or cable programming services;  a licence to use the radio-electric 
spectrum is also required.  The Act does not dis tinguish between domestic and foreign applicants.  
The duration and the details of each licence are determined on a case-by-case basis.  GT&T, for 
example, was granted an exclusive licence with r espect to the provision of public fixed telephony and 
all international voice transmission services for a pe riod of 20 years ending in 2010.  During the 
review period, four internet access providers have  been able to provide services via satellite, by 
holding only a spectrum licence, a situation that th e authorities are seeking to correct by adopting new 
legislation. 
110. Under its licence, GT&T is responsible for ensuring universal fixed telephony services in 
Guyana, but it systematically missed its universal service targets during the review period.  The PUC has the authority to impose fi nes in this respect, but none was applied during 2003-08. 
111. Telecom operators are obliged to submit their end-user rates for approval by the PUC.  
During the review period, the PUC received comp laints from both mobile operators regarding 
promotional rates practiced by the opponent.  Ma tters concerning GT&T's institution of per-second 
billing for international calls ar e pending before the PUC.  The Telecommunications Act does not 
have provisions on the interconnec tion of public telecom services.  Nevertheless, GT&T's licence 
requires it to negotiate with other providers on in terconnection, and the PUC under the PUC Act may 
determine the terms and cond itions of interconnection. 
112. Guyana's legislation does not require the unb undling of the local loop, but the authorities 
indicated that it will most probably be a require ment under the new legislation.  The current 
legislation allows the resale (i.e. non-facilities-based supply) of all types of telecom services, except 
for voice services over fixed lines, which is prohibited by GT&T's licence.  Resellers do not require a 
licence but are subject to regulation by the PUC under the PUC Act.  Guyana also allows the 
provision of international call-back services.
81 
113. The provision of voice over internet protocol (VoIP) is not regulated in Guyana, but the new 
regulation may include some provisions in this respect. 
(iv) Air transport 
114. Air transport is under the responsibility of the Minister of Transport and Hydraulics in the 
Ministry of Public Works and Communications.  The Guyana Civil Aviation Authority (GCAA) has 
responsibility for aviation regulation, air transport management, air navigation services, and safety.  
At the regional level, air transport safety and securi ty is provided by the Caribbean Aviation Safety 
and Security Oversight System (CASSOS), whic h replaced the more informal Regional Aviation 
Safety Oversight System (RASOS) in 2009.  CASSOS's functions are to assist CARICOM state 
parties to be compliant with ICAO standards and practices, and facilitate and promote the 
harmonization of civil aviation regulat ions, standards, practices and pro cedures.  The intention is that 
                                                      
81 Information provided by the Guyanese authorities. WT/TPR/S/218 Trade Policy Review 
Page 78 
 
 
it should serve as a platform for creating a regional civil aviation organization, replacing the separate 
civil aviation directorates.82 
115. The main law governing the air transport sector is the Civil Aviation Act (2000) and there 
have been no changes to this Act over the review  period.  The Act gives the GCAA responsibility for 
regulating the sector.83  The authorities note that the Civil Aviation Act is being reviewed, and the 
GCAA is expected to be given stronger authority. 
116. The Government of Guyana does not have a stak e in any national airline.  There are five 
domestic carriers84, all of which serve only domestic routes,  thus only foreign-owned carriers operate 
international and regional flights.  The authorities indicate that while this does not present any serious 
concerns, ticket prices are high due to limited competition among international carriers.  While 
Guyana's laws do not restrict cabotage to domestical ly licenced carriers, cabotage is not permitted in 
any of the bilateral air services agreements to which Guyana is a party. 
117. As noted in a Guyana transport sector study, Gu yana's air transport capacity and infrastructure 
could be improved to help trade.  The study notes that among the constraints to business are:  limited 
air cargo space;  inadequate in-transit arrangements;  delayed or cancelled fli ghts;  and expensive air 
freight.  It is noted that there are only two cargo carriers (Laparkan and Amerijet), and the remaining 
cargo space requirement is reliant on availability in passenger aircraft.  The ab sence of cold-storage 
facilities at the Cheddi Jagan International airport may also pose a problem for some exporters, given 
that cargo must be checked in at the airport eight hour s before flight departure.  Air transport is also 
seen as crucial in linking together parts of the country that are not accessible by road, particularly in 
the south of the country.85 
118. Guyana made GATS commitments in two subsectors related to air transport services.  For 
aircraft repair and maintenance services, Guya na bound, without limitations, market access and 
national treatment for modes 1 and 2 (which would al low Guyanese airplanes to be repaired abroad), 
but left modes 3 and 4 unbound.  For computer reservation system services, Guyana made full commitments in modes 1, 2, and 3.  The authorities report that there are no restrictions on selling or 
marketing by airlines. 
Bilateral air services agreements 
119. Guyana has signed and ratified the CARICOM multilateral air services agreement 
(CARICOM MASA), which entere d into force in November 1998.
86  This agreement confers third 
and fourth freedom route rights to airlines owned a nd operated by Caribbean nationals.  Fifth freedom 
traffic rights as well as day tour and air taxi services may be negotiated on a bilateral basis.87  
                                                      
82 CARICOM online information.  Viewed at:  http://www.caricom.org/jsp/pressreleases/pres 
45_09.jsp. 
83 Civil Aviation Act, Cap. 53:01.  Viewed a t:  http://www.caricomlaw.org/doc.php?id=2050. 
84 The five licenced domestic carriers are:  Tr ans Guyana, Roraima Airways, Jags Aviation, 
Air Services, and Wings.  These companies operate small ai rcraft carrying up to 13 people.   Laparkan Airways 
Guyana is the only domestic carrier that operates international cargo flights. 
85 Guyana Transport Sector Study, Working Paper No. 2 on Air Transport Infrastructure and 
Operations.  Viewed at:  http://www.guyanat ransportstudy.com/downloads/downloads.html. 
86 CARICOM online information.  Viewed at:  http://www.caricom.org/jsp/secretariat/legal_ 
instruments/agreement_multilateralairservices.jsp?menu=se cretariat.  CARI COM MASA has also been ratified 
by Antigua and Barbuda, Barbados, Belize, Dominica, Grenad a, St. Kitts and Nevis, St. Lucia, and Trinidad and 
Tobago. 
87 For International Civil Aviation Organization (ICAO) definitions of the third, fourth, and fifth 
freedom rights, see http://www.icao.int/icao/en/trivia/freedoms_air.htm. Guyana WT/TPR/S/218 
 Page 79 
 
 
CARICOM MASA stipulates that a member state shall not be required to grant cabotage rights to a 
CARICOM air carrier of another member state.  CARICOM MASA is being reviewed with a view to replacing it with an agreement that conforms to the provisions of the Revised Treaty of Chaguaramas. 
120. Based on a policy decision at CARICOM level, a first round of negotiations towards a 
plurilateral air service agreement was held with the United States in August 2004 at which a draft air 
services agreement text was initiated.  There has not been a second round of negotiations. 
121. Guyana has bilateral air services agreements with Brazil
88, Canada, Cuba, France, and the 
United States (the latter is governed by the Agr eement of the British Overseas Territories and the 
United States).  With the exception of the 2005  agreement with Canada, these agreements are 
relatively restrictive (Table IV.7):  the more liberal elements are that they provide fifth freedom rights 
and some provide post-facto capacity determination (B ermuda II);  however, they are restrictive with 
respect to ownership, tariffs, and designation. 
Table IV.7 
Key features of air services agreements, 2009 
Partner/ 
Signature 5th 7th Cabotage Owner-
ship Tariffs Capacity Design-
ation Cooper
-ation Exch. 
of stats 
Brazil, 1974 Yes No No Soec Double approval Pre-
determination Single No Yes 
Canada, 2005 Yes No No Soec Double 
dis-
approval pre-
determina
tion Multi No Yes 
Cuba, 1973 Yes No No Soec Double 
approval Bermuda 
II Single No Yes 
France, 1974 Yes No No Soec Double 
approval Bermuda 
II Single No Yes 
United States, 
1946/66 Yes No No Soec Double 
approval Bermuda 
I Multi No No 
 
Note: Soec = Substantial ownership and effective control.  
Source:  Texts of the air services agreem ents provided by the authorities. 
Airport management and ground-handling services 
122. Guyana's main, and only international, airport is  Cheddi Jagan International Airport, situated 
close to Georgetown.  It is Guyana's main hub for passenger and cargo tr ansportation, handling 
429,438 passengers and 4,247 tonn es of cargo in 2008.  The second largest airport is the 
Ogle Aerodrome, which currently provides only dom estic flights for cargo and passengers;  it handled 
71,688 passengers and 3,992 tonnes of  cargo in 2003.  Preliminary work has been undertaken to 
develop the Ogle Aerodrome into a regional municipal airport, compliant  with international standards.  
Guyana has 22 additional airstrips offering frequent scheduled services.  These are used for tourism, 
aviation associated with gold mining, and to serve is olated communities.  A further 73 airstrips have 
frequent non-scheduled services and are considered to be airports.89 
123. The Ministry of Public Works and Communicat ions is responsible for operating national 
airports and airstrips with the exception of the Ch eddi Jagan airport and the Ogle Aerodrome.  The 
Cheddi Jagan airport is managed by the The Cheddi  Jagan International Airport Corporation (CJIAC), 
a statutory corporation established in 2002;  its Board of Directors reports to the Ministry of Public 
                                                      
88 There has been a review of the Guyana-Brazil ai r services agreement, however final agreement on 
new rules have not been reached (as at March 2009). 
89 Guyana Transport Study.  Viewed at:  http://www.guyanatransportstudy.com/study_ 
recommendations/air_transport_and_aviation.html. WT/TPR/S/218 Trade Policy Review 
Page 80 
 
 
Works and Communications.  The intention is th at it should be run along commercial lines and be 
self-financing.  The Ogle Aerodrome was leased by the Government in 2001 to a private, wholly-
owned Guyanese company, Ogle Airport Inc., for a period of 25 years, renewable upon request.  
Under the Civil Aviation Act the Minister is author ized to approve the establishment and operation of 
aerodromes by private persons. 
124. As indicated by the authorities all ground-handling is undertaken by private operators, and 
there are no legal restrictions on the provision of ground-handling. 
(v) Maritime transport 
125. Domestic maritime transport (cabotage) is genera lly restricted to Guyanese citizens, residents, 
and companies.  While the port capacity appears to be adequate, insufficient investment may have a 
knock-on effect on Guyana's  trade. 
126. There have been no changes to the institutions  responsible for maritime policy in Guyana.  
The Minister of Transport and Hydraulics in the Ministry of Public Works and Communications has overall responsibility for the sector.  The Mari time Administration Department (MARAD) is 
responsible for administering the provisions of th e Shipping Act (below) and any other laws relating 
to maritime affairs.  The Transport and Harbour s Department (T&HD) is charged with control, 
improvement, and regulation of Guyana's harbours and their approaches, as well as maintaining a pilotage service.
90  There have been discussions about whether to create a Guyana Port Authority, 
with more administrative, organizational, and fina ncial autonomy, but no concrete plans have been 
drawn up.91 
127. Guyana has not made any GATS commitments on maritime transport services.  Guyana 
participates in a number of maritime conferences administered by the International Maritime Organization.
92 
128. The Guyana Shipping Act (1998) provides th e legal framework for maritime services in 
Guyana, including registration and licensing of ships, flagging, the manning of ships, the welfare of seamen, navigation and safety, regulation of cargo, wrecks and salvage, and legal proceedings.  The 
registration and licensing of ships in Guyana is   limited to Guyanese citizens, residents, and 
companies established and with their princi ple place of business in Guyana, as well CARICOM 
citizens under certain conditions.  The Minister may,  by order, allow otherwise non-qualified persons 
to own a Guyanese ship, however, no such orders have yet been made.
93  There are no discriminatory 
restrictions on international passenger or freight transportation, nor are there any requirements in the 
Shipping Act that government cargos must be trans ported on domestically flagged ships.  Guyana has 
653 registered flagged vessels:  71 are over 500 gross tons (March 2009). 
129. Trade between Guyana's ports and within waters  under Guyana's jurisdiction is restricted to 
Guyana-registered ships.  The cabotage restriction is subject to regulations, exemptions, or any bilateral or multilateral treaty or agreement, alt hough the restriction has not been lifted under any of 
                                                     
 
90 These responsibilities are set out in the Transport and Harbours Act, Cap. 49:04, Part I.  Viewed at:  
http://www.caricomlaw.org/doc.php?id=2032. 
91 Guyana Transport Sector, Working Paper 3 on Ports and River Transport Infrastructure & 
Operations.  Viewed at: http://www.guyanatra nsportstudy.com/downloads/downloads.html. 
92 IMO online information.  Viewed at:  http://www.imo.org/includes/blastDataOnly.asp/ 
data_id%3D24741/status-x.xls. 
93 The cabotage and ownership provisions are set out in Part VI, section 11 and Part III, section 10 of 
the Shipping Act.   Guyana WT/TPR/S/218 
 Page 81 
 
 
these circumstances.  Guyana is obliged to extend cabotage rights to CARICOM citizens as a result of 
the Revised Treaty, however this requirement has not  been implemented in practice.  The authorities 
indicate that such concessions would only be give n in emergency circumstances or in case of need. 
Ports 
130. Georgetown harbour is Guyana's main port;  the land and berths are mostly privately owned.  
The Government owns two ports:  Springlands and New Amsterdam, as well as port infrastructure at 
Vreed-en-hoop, the Guyana National Shipping Corp oration Limited (GNSC), and the Transport and 
Harbours Department Goods Wharf.  The port at Lind en is privately owned and operated.  Most cargo 
is transported in and out of Guyana through the Georgetown Port, with the exception of bauxite.  
Guyana's two international ports (Georgetown a nd the Transport and Har bours Department Goods 
Wharf) have both been certified as ISPS compliant. 
131. The Transport and Harbours Act sets out the va rious shipping-related levies imposed;  these 
include tonnage and light dues and shipping fees.  The National Assembly may increase these fees, by 
resolution and the new rates must be published in the Gazette .  Coasting vessels are exempt from the 
tonnage tax.94  Pilotage fees are set by the Minister.  Pilotage is not compulsory for vessels under 
1,500 tons gross (1,250 tons gr oss for Guyana-registered coasting- trade vessels), provided the master 
of the vessel has the requisite certification. 
132. A recent study suggests that there is no urgent need to increase the berthing capacity of 
Guyana's ports since use of existing capacity is re latively low.  However, it identifies some areas 
where improvement and investment is needed at Georgetown Port.  For example, the absence of 
regular maintenance-dredging prevents access by la rger vessels, thereby preventing businesses from 
taking advantage of economies of scale in shipping.  This is, apparently, a particular concern for the 
sugar and bauxite exporting industries.  Port safety and security at Georgetown is also considered to 
be unsatisfactory in a number of resp ects, and there are additional concerns, inter alia  relating to 
pollution, infrastructure, and cumbersome procedur es, which delay customs clearance.  In contrast, 
the same study observes that there are no particular problems with the ports at New Amsterdam and 
Linden, although silting in the Linden river needs to be  addressed.  It has al so been suggested that 
there should be official monitoring of port performance and utilization indicators.95 
133. The Government's 2005 report on Enhancing Na tional Competitiveness identifies the high 
cost of shipping and long transportation times am ong the core infrastructure-related supply-side 
impediments to competitiveness.  It suggests th at options and associated investments should be 
explored to develop deep sea port facilities, thereby allowing larger ships to dock, and to improve the 
efficiency of port handling facilities.96  
134. Maritime transport services provided uniquely by the Government are:  pilotage (which is 
compulsory at the Georgetown Port); aids to na vigation; dredging;  and hydrographic services.  All 
other port operations are undertaken by private opera tors.  The authorities note that the prices of port 
services are not controlled 
                                                      
94 The Transport and Harbours Act Cap. 49:04.   
95 Guyana Transport Sector Study, Working Paper 3 on Ports and River Transport Infrastructure & 
Operations.  Viewed at:  http://www.guyanat ransportstudy.com/downloads/downloads.html. 
96 Ministry of Tourism, Industry and Commerce (2005). WT/TPR/S/218 Trade Policy Review 
Page 82 
 
 
(vi) Professional services 
135. There is no overarching legislation re gulating professional services, and only some 
professions are regulated by law;  these include lawyers and chartered accountants, but not architects and engineers.  In order for foreign lawyers to pr actice in Guyana, reciprocal treatment of Guyanese 
lawyers is required.  Guyana has scheduled liberal commitments on four professional services 
subsectors for modes 1, 2, and 3. 
136. Guyana has undertaken not to impose market acc ess or national treatment limitations in its 
GATS commitments on legal services;  account, aud iting and book-keeping services;  engineering and 
architectural services;  and medical and dental services, for modes 1, 2, and 3.  Mode 4 is left 
unbound, except as indicated in the horizontal secti on, where commitments are limited to market 
access and national treatment for senior managerial  personnel and technical experts not available in 
the local labour market.  The authorities indicate that  this reflects the regime applied in practice.  
137. Efforts are being made to facilitate the provi sion of professional services within CARICOM.  
As indicated by the CARICOM Secretariat, a Prof essionals Bill that has been drafted would establish 
a system to harmonize qualification, licensing, and regulatory requirements for a number of 
professions
97;  a Council with authority to regulate professions is also envisaged.   
138. As noted in a 2007 services sector study, many professional services in Guyana are 
unregulated.  There have been attempts to table draf t legislation, however, these have lacked political 
support.98  Another study, focused on export opportunities for professional service providers in 
Guyana, observes that the lack of an acceptable leve l of internal regulations for key professions may 
hinder the opportunities for Guyana to negotiate mu tual recognition agreements with professional 
organizations in markets of interest.99 
(a) Legal services 
139. Admission to practice as attorneys-at-law, and their professional behaviour is regulated by the 
Legal Practitioners Act.100  In order to practice law in Guyana, it is necessary to be a national of 
Guyana, obtain a special authorization, or to hol d a Legal Education Certificate.  A petition to be 
admitted to the bar must be made to the High Court.   For foreign lawyers to practice in Guyana, the 
Minister of Legal Affairs must make an order to this effect, and reciprocal access by Guyanese lawyers to practice in the respective country is requ ired.  In such cases, foreign lawyers must either 
hold a Legal Education Certificate, or must ha ve suitable qualifications and competence.  No 
information was available regardi ng agreements made for such reciprocal treatment.  If a person is 
refused admission to practice law, an app eal may be made to the Court of Appeal. 
140. In Guyana's Schedule of Specific Commitmen ts, under national treatment limitations for 
Mode 4, it is specified that non-CARICOM Comm onwealth nationals are required to have their 
qualifications reviewed by the Council of Legal Education, and undergo a six-month period of 
training at one of the regional law schools.  Non- Commonwealth nationals are required to have their 
qualifications reviewed by the Council of Legal E ducation to determine the amount of retraining they 
                                                     
 
97 According to the authorities, the draft legislation relates to the following professional services:  
medical;  nursing and midwifery;  dent istry;  architecture;  engineering;   legal;  accounting;  veterinary;  
surveying;  pharmaceutical;  consultancy;  real estate;  and allied medical. 
98 Government of Guyana / USAID report (2007). 
99 Commonwealth Secretariat, Export of Professional Services for Guyana (undated). 
100 CARICOM Law online information.  http://w ww.caricomlaw.org/docs/01%20-%20Legal%20 
Practioners.pdf. Guyana WT/TPR/S/218 
 Page 83 
 
 
would be required to undergo:  gene rally total retraining is required.101  These requirements are still in 
force.  
(b) Accountancy services 
141. The accountancy profession is regulated by the In stitute of Chartered Accountants Act, which 
establishes a Council of the Institute to undertake this work. 
142. Membership of the Institute is open to Guyan ese citizens.  The Council also has the discretion 
to extend membership to persons who are memb ers of an approved professional accountancy body.102  
According to the authorities, new bodies are a pproved by Members of the Institute in general 
meetings after the Institute's Council makes a reco mmendation, and reciprocity is not a condition for 
approval. 
143. Under the Companies Act, company auditors must  be a member of the Institute of Chartered 
Accountants of Guyana, or be authorized by the Minister on the basis that they are suitably qualified and that they were in practice in Guyana as an a uditor at the time of commencement of the Companies 
Act.  Members of the Institute are not required to be resident in Guyana, or undertake a period of 
training or work in Guyana.  
144. Under the Audit Act No. 5 of 2004, the Audito r-General may contract Chartered Accountants 
in Public Practice.  In order to perform this wo rk, accountants must obtain a practice certificate from 
the Council, which is available to members of the Institute of Chartered Accountants and members of 
approved bodies.  Two-years work experience is also required.
103 
(c) Architectural and engineering services 
145. The engineering and architectural professions are not regulated by law in Guyana.  However, 
electrical engineering is regulated by the Government Electrical Inspectorate, under the Ministry of Public works and Communication.  The Associa tion of Professional Engineers of Guyana and the 
Guyana Institute of Architects do not have the pow er to regulate the provision of services by foreign 
engineers or architects in Guyana, however they set criteria for membership of their respective bodies:  
engineers must have a bachelors or higher diploma in engineering and at least four-years post-
qualification experience under a senior engineer or engineering company;  architects must have a 
bachelors or higher diploma in architecture and at  least five-years post-qualification experience under 
a senior architect.  In addition, the Guyana Institute of Architects recognizes the professional 
qualifications of foreign architects as set out in a list generated by the Royal Institute of British 
                                                     
 
101 WTO document GATS/SC/37, 15 April 1994. 
102 Approved bodies are:  the Ins titute of Chartered Accountants in England and Wales;  Institute of 
Chartered Accountants in Ireland;  Institute of Charte red Accountants in Scotland;  Canadian Institute of 
Chartered Accountants;  Association of  Chartered Certified Accountants U.K. ;  American Institute of Certified 
Public Accountants;  and the Certified General Accountants of Canada. 
103 See Audit Act No. 5 of 2004.  Viewed at:  http://www.gecom.org.gy/pdf_laws/AUDIT%20ACT. 
pdf;  and Institute of Chartered Accountants Act, Section 11. WT/TPR/S/218 Trade Policy Review 
Page 84 
 
 
Architects.  Foreign architects and engineers are not obliged to become members of the respective 
associations.  The authorities note that a number of  architects and engineers provide their services 
under projects funded from abroad. Guyana WT/TPR/S/218 
 Page 85 
 
 
REFERENCES 
 
Acemoglu et al. (2004), Institutions as the Fundamenta l Cause of Long-Run Growth .  Viewed at:  
http://elsa.berkeley.edu /~chad/handbook9sj.pdf. 
 
Bank of Guyana (2006), Annual Report 2006 .  Viewed at:  http://www.bankofguyana.org.gy/ 
Publicatab (www.bankofguyana.org.g y/Documents/ANRPT/REPORT2006.pdf). 
 Bank of Guyana (2007), Annual Report 2007.   Viewed at:  http://www.bankofguyana.org.gy/ 
Publicatab.htm. 
 Bank of Guyana (2007), Annual Report 2007 .  Viewed at:  http://www.bankofguyana.org.gy/ 
Publicatab (www.bankofguyana.org.g y/Documents/ANRPT/ANNREP2007.pdf). 
 Bank of Guyana (2008), Half-Year Report .  Viewed at:  http://www.bankofguyana.org.gy/Publicatab. 
htm. 
 
Bank of Guyana (2008), Half-Year Report .  Viewed at:  http://www.bankofguyana.org.gy/ Publicatab 
(www.bankofguyana.org.gy/Document s/Half%20Year/HalfYear2008.pdf). 
 
Braithwaite (2007), Privatisation, regulation and Investment:  A case study of the telecom regulatory 
environment (TRE) and investment in Guyana .  Report on the World Dialogue on Regulation.  
Viewed at:  http://www.regulateonline.org.  CCJ (2006), The Caribbean Court of Justice (Original Jurisdiction) Rules 2006 .  Viewed at:  
http://www.caribbeancourtofjustice.org/rul es/FINAL%20ORIG%20INAL%20RULES%20AS%20SI
GNED%20MARCH%2024%20O6.pdf. 
 Chu, Ke-young (2003), "Collective Values, Behaviour al Norms and Rules:  Building Institutions for  
Economic Growth and Poverty Reduction".  Rolph va n der Hoeven and Anthony Shorrocks, (eds)  
Perspectives on Growth and Poverty , United Nations University Press;  Tokyo. 
 
CRNM (2008), The Cariforum-EC Economic Partnersh ip Agreement (EPA):  Treatment of 
Professional Services in the EPA . EPA Brief. Viewed at:  http://www.crnm.org/documents/ 
ACP_EU_EPA/epa_agreement/Brief_Treatment _of_Professional_Services_in_the_EPA_IU.pdf. 
 
ECLAC (2008), Impact of changes in the European Union import regimes for sugar, banana and rice 
on selected CARICOM countries.  Viewed at:  http://www.eclac.cl/cgi-b in/getProd.asp?xml 
=/publicaciones/xml/5/33095/P33095.xml&xsl=/porto fspain/tpl-i/p9f.xsl&base=/portofspain/tpl-i/top 
-bottom.xslt  EIU (2007), Country Profile:  Guyana .  Viewed at:  http://www.eiu.com/. 
Ethnic Relations Commission (2007), Research into Public Procurem ent in Guyana with Special 
Regard to Openness and Fairness .  Viewed at:  http://www.ethnicrelations.org.gy/publications/ 
public_procurement_research_report.pdf. 
GO-Invest (2007).  Doing Business in Guyana:  Guyana's Investment Guide .  Viewed at:  
http://www.goinvest.gov.gy/investment_guide.htm. 
Government of Guyana (2007), Strategy for Sustaining the Guyana Power & Light, Inc .  Viewed at:  
http://www.electricity.gov.gy/GOG%20Strategy%20for%20GPL.pdf. WT/TPR/S/218 Trade Policy Review 
Page 86 
 
 
Government of Guyana / USAID (2007), Guyanese Services:  Opportuni ties for Increased Economic 
Growth and Trade Liberalisation .  Project funded by USAID/GTIS.  Viewed at:  http://www.moftic 
.gov.gy/Publications/GY%20Services%20Repor t%20-%20Final%20Ver sion%20-%203-20-07/2007-
3-20%20Services%20Report-Part%201%20Rev1.doc 
 
IMF (2006), Emigration and Brain Drain:  Evidence From the Caribbean , IMF Working Paper No. 
06/25.  Viewed at:  http://imf.o rg/external/pubs/ft/wp/2006/wp0625.pdf 
 
IMF (2007a), Colonial Origins, Institutions and Economic  Performance in the Caribbean:  Guyana 
and Barbados .  IMF Working Paper No. 07/43.  Viewed at:  http://www.imf.org/external/pubs/ft/wp/ 
2007/wp0743.pdf. 
 
IMF (2007b), Guyana:  Why Has Growth Stopped?  An Empirical Study on the Stagnation of 
Economic Growth .  IMF Working Paper WP/07/86.  Viewed at:  http://www.imf.org/ 
external/pubs/ft/wp/2007/wp0786.pdf.  
IMF (2008),  Article IV Consultation.  Not yet available to the public.  
 IMF (2009), Article IV Consultation.  Not yet available to the public. 
 
IMF (2009), Joint IMF/World Bank Debt Sustainability Analysis .  Viewed at:  http://www.imf.org/. 
 ITU (2007), World Telecommunication Indicators .  Viewed at:  http://www.itu.int. 
 ITU (2008),  World Telecommunication Indicators .  Viewed at:  http://www.itu.int. 
 
R. Levine and W. Easterly (2003), "Tropics, Germs and Crops: How endowments influence econo mic 
development".  Journal of Monetary Economics , 50:1. 
 Ministry of Tourism, Industry and Commerce (undated), Report on the Year 2005 .  Viewed at:  
http://www.mintic.gov.gy/documents/2005_achievements_of_MinTIC.pdf. 
 
Ministry of Tourism, Industry and Commerce (2005), Enhancing National Competitiveness, 
Implementing the National Strategy .  Draft Policy Discussion Paper.  Viewed at:  http://www.mintic. 
gov.gy/competitiveness.html.  
National Aquaculture Association of Guyana (2008), Aquaculture Prospectus for Guyana Sector 
Overview .  Viewed at:  http://www.aquaculture.org .gy/publications/Aquaculture_Prospectus_for_ 
Guyana.pdf.  North, Douglass C. (1990), Institutions, Institutional Chan ge, and Economic Performance .  
Cambridge University Press, New York. 
 
Parsan, E. (2006) Aid for Trade:  A Caribbean Perspective , CRNM Digital Library.  Viewed at:  
http://www.crnm.org/studies.htm.  World Bank (2008), Doing Business:  Guyana .  Viewed at:  http://www.doingbusiness.org/ 
ExploreEconomies/?economyid=84. 
 WTO (2003),  Trade Policy Review:  Guyana , Geneva.