WT/TPR/M/391  
23 October 2019  
(19-6960) Page: 1/36 
Trade Policy Review Body  
11 and 13 September  2019   
 
  
TRADE POLICY REVIEW  
SURINAME  
MINUTES OF THE MEETING  
Chairperson: H.E. Mr. Manuel A.J. Teehankee (Philippines)  
CONTENTS  
 
1  INTRODUCTORY REMA RKS BY THE CHAIRPERS ON ................................ .......................  2 
2  OPENING STATEMENT  BY THE REPRESENTATI VE OF SURINAME  ................................ .. 4 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ ..............  11 
4  STATEMENTS BY MEM BERS  ................................ ................................ ........................  15 
5  REPLI ES BY THE REPRESENTA TIVE OF SURINAME  AND ADDITIONAL COMM ENTS  ..... 29 
6  CONCLUDING REMARK S BY THE CHAIRPERSON  ................................ .........................  35 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by Suriname  are reproduced in document WT/TPR/M/ 391/Add.1 and will be available online at 
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/3 91 • Suriname  
 
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  1  INTRODUCTOR Y REMARKS BY THE CHA IRPERSON  
1.1.  The third Trade Policy Review of Suriname  was held on 11 and 13 September 2019. The 
Chairperson, H.E.  Mr. Manuel Teehankee (Philippines), welcomed the delegation of Suriname , 
headed by H.E. Mr. Stephen Tsang, Minister of Trade, Industry and Tourism ; H.E. Mr. Reggy  Nelson, 
Permanent Representative of Suriname to the WTO ; the rest of the delegation; and the discussant, 
H.E. Mr. Peter Brño  (Slovak Republic) . 
1.2.  The Chairperson inform ed Members that as stated in the Addendum to the Airgram for this 
meeting (WTO/AIR/TPR/89 ), the United Nations Industrial Development Organization (UNIDO) ha d 
requested to attend, as an ad hoc  observer, the upcoming Trade Policy Review of Peru. Thus, if there 
were no objections, he suggested  that Members  grant ed UNIDO observer status for this meeting, 
and accordingly invite d the representative of UNIDO to participate in Peru 's TPR meeting, as ha d 
been done in the past.  
1.3.  The Chairperson recalled the purpose of trade policy reviews and the main elements of 
procedures for the meeting. The report by  Suriname  was contained in document WT/TPR/G/3 91 and 
that of the WTO Secretariat in document WT/TPR/S/3 91. 
1.4.  Questions by the following delegations were submitted in writing before the deadline: Peru; 
Canada; European Union; United States; Brazil; Argentina;  Iceland; China; and Colombia. The 
following delegations submitted written questions after the deadline: Indonesia; Singapore; Trinidad 
and Tobago; and Dominican Republic.  
1.5.  At the time of the previous Trade Policy Review of Suriname in 2013, Members had com mended 
Suriname for its prudent macroeconomic policies that had enabled it to weather the global economic 
crisis without resorting to any protectionist measures. They had also appreciated the steps that had 
been taken to improve the trade and investment en vironment. At the same time, Members had 
voiced concerns about outdated national laws and the quality of governance. In particular, many 
Members had noted that several pieces of legislation were at various stages of development, and 
that some of them had a lready been in the process of being prepared at the time of the previous 
Review in 2004.  
1.6.  With regard to tariffs, some delegations had welcomed the reduction in the average applied 
MFN tariff during the review period, but had also noted that some applied ta riffs were above bound 
rates which was a result of adopting CARICOM 's common external tariff. Suriname had also been 
urged to bear in mind the need to comply with other WTO commitments, such as those relating to 
notifications.  
1.7.  For the current Review, it wa s important to note that, since its last TPR, Suriname went through 
a severe economic crisis triggered by significant commodity terms of trade and internal shocks. In 
2015 and 2016, GDP declined by 3.4 and 5.6%, respectively. Inflation peaked in late 2016,  at about 
60%, public debt levels increased significantly, from 32% of GDP in 2013 to some 80% in 2018, and 
the current account deficit increased considerably. Per capita GDP in US dollar terms was 
substantially lower than at the time of the last Review. H owever, on the positive side, a slow recovery 
of Suriname 's economy was underway since 2017, when real GDP grew by 1.7%. The economy 
continued to strongly depend on minerals, with 90% of exports being gold and oil.  
1.8.  As for trade policy, the institutional en vironment remained largely unchanged since the last 
Review. Suriname is a member of CARICOM and applies the common external tariff with few 
exceptions. The policy environment was still characterized by a backlog in the adoption of important 
trade -related l aws and a resort to ad hoc  decisions to fill this gap. This continued to impact on the 
predictability of the trade regime, raising concerns about governance issues and resulting in high 
costs of doing business, as reflected in some of the advance written q uestions submitted by 
Members.  
1.9.  The Chairperson drew Members ' attention to the following additional areas, among others, 
where Members were interested in having more clarity. These included: the legal framework for 
investment and the role of Invest Sur; measures to improve the business environment, and to 
increase transparency in the economy and the predictability of the trade regime; tariffs; protection WT/TPR/M/3 91 • Suriname  
 
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  of intellectual property rights; and the state of draft laws on anti -corruption, competition, public  
procurement, telecommunications, trade facilitation and customs procedures.  
1.10.   This meeting would be a good opportunity for Members to discuss in greater detail issues of 
interest to them and of systemic importance to the multilateral trading system. The Cha irperson 
looked forward to a productive exchange of views.  
  WT/TPR/M/3 91 • Suriname  
 
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  2  OPENING STATEMENT BY  THE REPRESENTATIVE OF SURINAME  (H.E. MINISTER TSANG ) 
2.1.  I would like to take this opportunity to express our heartfelt sympathies to the Bahamas, our 
sister CARICOM nation who h ave been devastated by the hurricane Dorian. The Caribbean Nations 
are connected not only geographically, but mainly by their people. Our thoughts and prayers are 
with the people of the Bahamas. They will not stand alone, we have, we must and we will provi de 
further support to rebuild their beautiful island. The devastation on the island is enormous and it 
may be a testament to the disastrous effect of climate change to the Caribbean nations  and to the 
world . 
2.2.  We would like to thank the WTO Trade Policy Divi sion for their support and facilitating this 
two-day session of our Trade Policy Review and allow me to start and to further elaborate on 
Suriname 's trade policy. 
2.3.  We have received written questions from Brazil, China, Colombia, United States , Canada, 
Domin ican Republic, Iceland, European Union, Peru, Argentina, Indonesia, Singapore, Trinidad and 
Tobago and these questions were answered and sent to the WTO Secretariat for dissemination to 
Member States. This is our third Trade Policy Review and I will be ela borating on developments 
occurred after our second Trade Policy Review in 2013.  
2.4.  As the Chair pointed out, s hortly after our trade policy review , Suriname had an economic 
recession in 2015 due to the fall of commodity prices for gold and oil.  
2.5.  This resulted in drastic decrease of our income and a restructuring of our financial economic 
policy. We lowered government spending dramatically and , in the  process , we created a sovereign 
wealth fund, to prepare for future commodity price drops.  
2.6.  We also implemented a national procurement policy based on the framework created by the 
CARICOM. We managed to stabilize our economy without a financial bailout. Tod ay, we are slowly 
but surely coming out of this crisis.  
2.7.  Suriname is a country rich in natural resources. We are roughly about 4 times the size of 
Switzerland, with only 560.000 people. With 93% forest coverage we have the highest percentage 
of forest cover age in the world, which is pristine Amazon  jungle. We export much wood logs from 
the forest.  
2.8.  The drop-in commodity prices hit us hard and we could have opted to chop down 1% of the 
jungle, sell the wood and be out of the crisis much quicker. To put it into  perspective, 1% of our 
forest is about 100 times the total area of Geneva. We could have even gone to 90% forest coverage 
and still be the highest forest covered country in the world, but we decided to commit the country 
to maintaining and preserving 93% of our rainforest, in line with the UN SDG 3, 13,  15 and 17 for 
environmental protection.  
2.9.  And instead, we made the decision to find alternative ways of generating income from the 
forest.  
2.10.   That is why we, the Republic of Suriname, held the first High Foreste d and Low Deforestation 
(HFLD) climate finance conference in February  this year, with the objectives to strengthen 
cooperation, collaboration and exchange of knowledge and experience among the HFLD countries.  
2.11.   The objectives were to:  
• Develop joint strategie s and positions to help maintain our intact forests and preserve forest 
cover;  
• Make international communities more aware of the significant global importance of HFLD 
countries and their productive landscapes in combating climate change;  
• Share knowledge about technical and financial mechanisms available or in development with 
regard to climate finance for the HFLD nations;  and 
• Strengthen the payment structure for ecosystem services that will be used to advance 
sustainable development whilst miti gating the risk of forest destruction and biodiversity loss . WT/TPR/M/3 91 • Suriname  
 
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  2.12.   The drop -in commodities plunged us in an economic crisis, because we were too much 
dependent on our natural resources  from the extractive industries . If one thing, the crisis led to 
drastic and n ecessary measures to speed up our economic reform.  In a way, the crisis may have 
been a blessing.  
2.13.   Among other measures for reform, we are now focusing on : 
- updating our legislation ; 
- upgrading our human capital through education reforms ; 
- upgrading our social  security ; 
- strengthening of our regional trade and commitments ; 
- developing the green economy ; and  
- implementing policies to develop other sectors . 
2.14.   And I want to elaborate on these issues in further detail . 
With respect to updating our legislation  
2.15.   The challenge for us is the lack of finance and lack of expertise. The process to pass legislation 
in the Parliament is tedious and we have many laws in final draft pending processing in the 
Parliament. In the past 9 years , the parliament has invested heavily in upgrading the staff and 
technical expertise to assist in the development of new legislation. And , also, much investment is 
made in security and efficiency of the parliamentary processes. Although we have a huge backlog in 
updating the legislation, we ha ve been making great progress in the recent years.  
2.16.   One of the priorities of the Government is to fight corruption and , therefore , we have passed 
the anticorruption law in 2017. To support the anticorruption law , we passed a series of legislation s, 
most not ably: 
• the Law on annual reporting (2017) ; 
• the Law on electronic transactions (2017) ; 
• the government procurement law (2017), with an amendment in 2019 to further regulate 
the government procurement ; 
• the amendment of the notary office law (2018) ; 
• the Law aud it office Suriname (2018) : and   
• the Law on chartered accountants (2018) . 
2.17.   Furthermore, we have been working on a series of legislation s to improve the economy of 
doing business in Suriname, most notably:  
• The Suriname Energy authority act (2016) ; 
• The a mendment of the commercial code to include Limited Liability Companies (2016) ; 
• The s aving and stability fund law (2017) aka the Sovereign  Wealth Fund; 
• The c ompany and professions law (2017) ; and   
• A Center for innovation and productivity law (2019) . 
2.18.   The Ministry of T rade, Industry and Tourism  has drafted many laws, which are now pending 
processing in the parliament. Most notably are:  
• the Law on Intellectual Property ; 
• the Privacy Law; 
• the Law on Mediation ; and  
• the Law on Commercial Competition . 
2.19.   Furthermore,  the Ministry of Finance is working on drafting a revised investment law in order 
to promote and attract F oreign Direct Investment to Suriname. And we are working on a legislation 
to create industry parks and Free Trade Zones to attract more value -added pr ocessing to our natural 
resources.  WT/TPR/M/3 91 • Suriname  
 
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  With respect to  upgrading our human capital through education reforms  
2.20.   The Government of Suriname acknowledges the importance and the need for skilled labour.  
2.21.   The Ministry of T rade, Industry and Tourism  is working with the  Ministry of Education, Science 
and Culture to develop curricula  to integrate entrepreneurship  and environment awareness in our 
education system. Also, the education system is continuously being reformed to today 's standards 
by including ICT  and we are bui lding more and more schools in rural areas . We recently launched a 
FAB node in the Amazon , together with French Guyana and Brazil and we held the first FAB academy 
in the 3 countries.  
With respect to  upgrading our social security  
2.22.   The Government acknowledges the importance of social stability to the business climate and 
is working on social housing projects with the private sector and building more hospitals in remote 
areas. Also , many legislation s have been adopted by the Parliament, most notably:  
• A general pension law (2014) ; 
• A law on basic health insurance (2014) ; 
• A law on the convention on the rights of persons with disabilities (2015) ; 
• A law on equal renumeration convention (2016) ; 
• A law on minimum wage (2019) ; and  
• A law on parental leave (2019) .  
With respect to  strengthening our regional trade and commitments  
2.23.   Suriname is a member of the Caribbean Financial Action Taskforce  (CFATF ) and has launched 
the National Risk Assessment. We are current ly working diligently on implementing measures for 
the NRA.  
2.24.   To expand trade and tourism , we will be focusing on South -South and non -traditional markets. 
One of our main priorities is to work on the connectivity in the region.  
2.25.   In cooperation with the privat e sector, we have successfully  developed routes to Cuba and 
Panama,  and we are continuously working on developing more flight routes in the region.  
2.26.   Suriname is strategically located were we can function as a hub for transport and tourism for 
the Caribbean region and South America. We have direct flights to Europe, the United States , 
Panama and the Caribbean.  
2.27.   We believe that with the development of ou r tourism sector we can strengthen other sectors 
as well and bring local MSMEs to the global value chain of tourism.  
2.28.   We are strengthening our bilateral relations with our CARICOM member states in the form of 
jointly developing CARICOM enterprises and join t initiatives . In this we have offered and provided 
land for the CARICOM member states who are mostly islands and who are vulnerable to natural 
disasters. Every year during the hurricane seasons, livestock  and crops on the Caribbean islands are 
destroyed. With this program me, countries can grow their own crops and secure their own food 
supply on Surinamese soil, that is blessed with no natural disasters like hurricanes and earthquakes. 
We believe that this program me is a win-win for all participants and wil l jumpstart trade with our 
fellow member states . 
2.29.   Jointly , we are talking about developing the transportation sector (maritime and air) to 
improve intra-regional  trade. Furthermore , the development of multi destination tourism where not 
only the well-known sun, sand and beaches but also our pristine rain forest with its rich flora and 
fauna can become part of the tourist experience.  
2.30.   Suriname took the initiative for the establishment of the CARICOM Interactive Marketplace 
and Suspension Procedure (CIMSuPro).  The initiative to setup this CIMSuPro arose from the 
burdensome process when requesting a suspension of the Common External Tariff. To ease this WT/TPR/M/3 91 • Suriname  
 
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  process, the CIMSuPro Portal was developed. This portal was presented by Suriname at the 
Thirty -Seventh Meetin g of the COTED in November 2013, where it was also officially approved.  
2.31.   The CIMSuPro portal provides a platform in which entrepreneurs from the CARICOM can offer 
their products, from raw materials to end products. CIMSuPro is also the virtual counter where  a 
company can request exemptions from import duties.  
2.32.   Thus, the aim of CIMSuPro is to promote trade and production within CARICOM.  
2.33.   Through CIMSuPro , you can easily see what products are available within CARICOM.  
2.34.   This platform/portal will be the place where  suppliers and demanders of products are directly 
linked with each other  directly . To some extent , buyers from all over the world will have access to 
this portal, once it is fully operational. This platform will not only shorten the suspension procedure 
process but will also have transparency within it.  
2.35.   The first group of training is scheduled for October 2019. Once all the users have been trained 
the portal will be fully operational , and we expect that by the end of this year.  
2.36.   Suriname is part of the Cari bbean but is also on the mainland of South America, and we are 
in the process of joining ALADI and Mercosur to expand our market to the continent. We are seeking 
support from other ALADI members to join.  
2.37.   Suriname is also a member of the OIC and we have est ablished the first Sharia Bank in the 
region. Currently , we are working on developing hal aal standards and we are providing Muslim 
Friendly Tourism workshops and training to entrepreneurs . 
With respect to  developing the green economy  
2.38.   The green economy will be evident throughout our policy making. It will also be most evident 
in the branding of Suriname as an ecotourism destination.  
2.39.   The Government of Suriname has started the process of banning single use pl astics and we 
have started implementing the ban on Styrofoam  as of May 2019. Banning single use plastics is 
costly, but we are working with the private sector and we are seeing more and more development 
of alternative products and sustainable industries  in Suriname . 
2.40.   The energy policy will focus on sustainable generation via solar, water and biogas.  
With respect to  implementing policies to develop other sectors  
2.41.   The policy is to diversify the economy to be less dependent on our extractive industries, and 
to develop more sustainable sectors like trade, agriculture and tourism.  
2.42.   The extractive industries are threatening our forests and as such we are trying to create 
awareness in the hinterlands and to move the young people away from illegal mining by providing 
sustainable alternatives.  
2.43.   For instance, we have successfully  started a project with the Amerindians for nontimber forest 
products and we very recently had the first shipment of 500  litres of Tuhka oil, extracted from certain 
rare nuts in the amazon, to the United States . This is a project funded by the IDB.  
2.44.   Also, t here are many tourism projects we have started in the hinterlands to provide an 
alternative to the extractive industries.  
2.45.   The policy is to raise awareness and have the people have access to and choose the 
sustainable ways of income.  WT/TPR/M/3 91 • Suriname  
 
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  Trade  
2.46.   The Republic of S uriname is well aware of the fact that lowering trade barriers is one of the 
most obvious means of encouraging trade . However, it is the lowering of these barriers that are the 
most difficult for developing countries. Tariffs are a major source of governme nt income and 
therefore lowering these "barriers " have a great impact on developing countries.  
2.47.   Opening markets or making them more accessible can be beneficial, but in many cases such 
as in the case of the Republic of Suriname it requires readjustment whic h is achieved over time. 
With that being said , I strongly believe in the multilateral trading system , and I am aware that there 
is still much work  for the Republic of Suriname that needs to be done  in order to achieve a better 
position in this global tradi ng system.  
2.48.   Trade remains a primary focus and , as such , we have been working on improving our Ease of 
Doing Business. We have adopted the new law on companies and professions, which makes it much 
easier to start a business in Suriname. To improve the Ease of Doing Business in Suriname, m ost 
notably is that we are working with a Singaporean company to build an Ele ctronic Single window for 
trade, which is scheduled to launch a phase one working pilot on the 27th of September  2019. 
2.49.   The Suriname Electronic Single Window (SESW) is a web -based portal that will further be 
developed into an overall -platform in which with just a click you will be able to find all trade related 
information , as well as acquire the necessary permits/licenses to engage in the multilateral trading 
system.  
2.50.   By implementing a SESW, we are underscoring the importance of trade facilitation 
arrangemen ts to enhance the transparency and expedite the procedures for the trade in goods.  
2.51.   Also, as of December  2018, Suriname is a member of the World Customs Organization ( WCO). 
2.52.   With the huge development of the oil and gas industry in our neighbouring  country Gu yana, 
we see many opportunities. The region now is of great interest to multinationals, and this year we 
started the near shore explorations and we are hopeful that we will share the successes of Guyana. 
Nevertheless, the policy is to focus on the spin off  from the oil and gas industries, such as supplying 
the multinationals and development in tourism. We have started workshops to inform and educate 
the private sector about the requirements to do business with multinationals. Also, with the 
standards bureau , we are working on new standards to elevate our private businesses to 
international standards.  
2.53.   The Government of Suriname is also committed to further developing Micro, Small and 
Medium Enterprises (MSME) through several program mes specifically setup for MSM enterprises. 
Technical support is provided in the form of training, guidance and information on related issues 
regarding MSME. One of the problems for MSME in Suriname is the access to finance. A guarantee 
fund for MSM Entrepreneurs has been setup in o rder for entrepreneurs to have access to loans that 
were not accessible in the past.  
2.54.   For example,  those start-up businesses who have no collateral in order to secure a loan. With 
this new approach, we aim at structurally strengthening the MSMEs which are t he backbone of our 
country. Besides strengthening our MSME s, the Government of Suriname is currently focused on 
developing policy directed towards converting Suriname into a major food producer and supplier of 
the Caribbean.  
2.55.   We started a program me with a l oan from the IDB to improve the business climate and 
innovation for the private sector (SUBCIP) and it has yielded very good results.  
2.56.   Through a grants program me within SUBCIP, called the innovation for firms Suriname (IFS), 
we are supporting innovative enterprises to start-up and to grow. The program me has been very 
successful,  and we are in the final and third round of grants and we are looking forward to continue 
the program me. WT/TPR/M/3 91 • Suriname  
 
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  Agriculture  
2.57.   The strategy is to increase and di versify the export of agricultural products by first increasing 
the agricultural production in a sustainable way. The effort to achieve this strategic goal is a shared 
responsibility between the private sector and the Government. The Government  of Suriname  has 
decided to create conditions to support the agricultural sector, which are necessary if we want to 
become a major food provider for the Caribbean.  
2.58.   Increased horticultural production and sustainable market -access achieved for 
1 000 small -scale farmers  and improved food safety capacities and standards achieved for private 
sector and public institutions is the main purpose of the Suriname Agriculture Market Access Project 
(SAMAP) . This is the current focus of the Government directed towards agriculture d evelopment. 
The SAMAP project is aimed at increased, more competitive and safer production of selected crops 
(in particular fruit and vegetables).  
2.59.   The components of this project are:  
1. Sustainable production and value chain development ; 
2. Strengthening food sa fety capacities and standards and their application to the private sector ; 
and 
3. Project coordination, management and implementation.  
2.60.   Alongside SAMAP, the Government of Suriname in cooperation with the UNFAO and UNIDO 
have set -out another project, namely the  Accelerator for Agriculture and Agro -industry Development 
and Innovation (3ADI+). This is an integrated program me that brings together technical assistance, 
public finances and private investment through coordination to develop inclusive and sustainable 
value chains and market systems.  
2.61.   This program me is being implemented by UNIDO as a pilot in 3 countries, namely Bangladesh, 
Tanzania and Suriname. The chosen commodity to be strengthened in Suriname is the pineapple. 
We are also strengthening our coconut an d cassava industry with the financial assistance from the 
European  Union. 
2.62.   The Ministry of Agriculture, Animal Husbandry and Fisheries has developed an agricultural 
master plan and is currently working on several aspects to achieve its goals set up in the National 
Development Plan. 
2.63.   We are working on a new legislation for the crea tion of a National Food Safety Agency. This 
will ensure that all products produced comply to national and international food safety standards. 
With the new SPS measures of the EU, our exporters have suffered much losses and we need a 
National Food Safety Agency to ensure that we have the tools and that we create policy to adhere 
to international standards.  
2.64.   Suriname is also seeking to expand its livestock. We are seeking technical assistance in 
sustainable livestock production. Also , in setting up inn ovative animal housing and husbandry 
systems. We are currently restructuring policies to move towards a sustainable fisheries regime.  
Mining  
2.65.   Although we want to diversify our economy, the main income remains from our mining and 
oil and gas industries.  
2.66.   In 2017, Suriname joined the Extractive Industries Transparency Initiative  (EITI) to improve 
transparency in order to attract FDI.  
2.67.   We recently discovered large deposits of diamonds in Suriname, that were smuggled out of 
the country. This year, we passed the La w on the Kimberley Process Certificate scheme of the World 
Diamond Council Association, which paved the way for Suriname to develop a diamond industry.  WT/TPR/M/3 91 • Suriname  
 
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  Tourism  
2.68.   Tourism has been identified as one of the most important industr ies to diversify our economy.  
2.69.   Suriname has been declared the most forested country in the world by the World  Bank due to 
its 93% forest coverage , and is a nature haven for seekers of peace and quiet. Our country is part 
of the Amazon rainforest which is of great importance to the world.   
2.70.   We have presented the National Strategic Tourism Plan in 2017 and we are working with Israel 
to develop a tourism masterplan by the end of this year.  Also, we are working with private sector 
clusters to develop more tourism products and tourism facilitie s. 
2.71.   The two main pillars of the tourism product of Suriname are its pristine nature and its diverse 
culture. The nature pillar for ecotourism is obvious. Concerning the cultural pillar, we have a 
multicultural society which we are very proud of. If you just  look at our delegation, you will see our 
diverse society reflected. Indigenous and Marroon tribes in the interior, Jewish society, Muslim and 
Hindu, Chinese, Javanese are just some of the groups that live in harmony with each other.  
2.72.   Please allow me to pre sent to you a short promotional video of destination Suriname. And I 
hereby proudly and warmly welcome you to come to Suriname as your next tourism -destination.  
2.73.   Thank you and we hope to see you on Friday  where we will be hosting a small tasting with 
Surina mese snacks and drinks.  
  WT/TPR/M/3 91 • Suriname  
 
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  3  STATEMENT BY THE DIS CUSSANT  
Introduction  
3.1.  I wish to welcome the Head of delegation of Suriname, Mr. Stephen Tsang, Minister of Trade, 
Industry and Tourism, and his team. At the same time, I would like to express my appreciation to 
the Government of Suriname and to the WTO Secretariat for the prepared Reports. I have 
volunteered with pleasure to serve as discussant. For me, a European, this is an exotic South 
American country, 93% covered by tropical rainforest and th ree times bigger than Slovakia but with 
only 10% of the amount of citizens of my own country. It was for a simple reason: it was an excellent 
opportunity to study in more detail not only the economic and trade performance of Suriname, but 
also to learn mor e about the history, the citizens, the political system, the culture and other 
information to fill completely the mosaic, which may help me understand better Suriname.  
General summary on economic and trade  
3.2.  Now, before I touch upon more specific topics sug gested for more detailed discussion, let me 
mention briefly the basic features of Suriname 's economy, changes from the last Review, and the 
latest developments in macroeconomic figures.  
3.3.  Suriname is defined as a small economy with a low level of diversifica tion of industrial 
enterprises. The share of manufacturing industry in GDP creation represents 15%, mining 6.5%, 
agriculture 9%, fisheries 3.6%, and services 54%. As far as trade is concerned, currently the main 
export commodities are gold and fuel, 80% -90%, and the rest is agriculture products such as rice, 
bananas, and fish. Bauxite and aluminium, the most important export goods in 2006, are no longer 
produced, due to the closure of the main mine in 2016.  
3.4.  The most important trade destinations in exports are Switzerland; Hong Kong, China; and the 
European Union.  
3.5.  Suriname 's imports are dominated by machinery, mineral fuels, and prepared foodstuffs. The 
United States, the European Union, and Trinidad and Tobago are Suriname 's most important sources 
of import s. 
3.6.  As per the Report, since its last Trade Policy Review in 2013, Suriname 's economic performance 
has been highly volatile, with annual GDP growth rates fluctuating between -5.6% and +2.9%. Per 
capita GDP is now about USD 6,500, down from USD 8,800 in 2012 . A slow recovery of the economy 
is underway, with an expected GDP growth rate of 2% in 2019.  
3.7.  Inflation peaked in late 2016 at about 60% but fell to 6% in 2018. Public debt levels increased 
significantly, from 32% of GDP in 2013 to some 80% in 2018.  
3.8.  Merchandise exports and imports both fell significantly during the period under review. Total 
merch andise exports declined 50% from USD 2.4 billion in 2012 to slightly over USD 1.2 billion in 
2016, before rebounding to USD 1.4 billion in 2017. Merchandise imports peaked in 2013 at 
USD 2.3 billion but fell also approximately 50% to about USD 1.2 billion in 2016 and 2017. Trade 
figures for 2018 are not available.  
3.9.  Services is the main economic activity in Suriname, and consistently constituted around 55% 
of GDP in the period 2012 -17. Around two thirds of the workforce is employed in various services 
sectors , with wholesale and retail trade as the most dominant one. In recent years, hotels and 
restaurants and other tourism -related services showed considerable growth.  
3.10.   Suriname 's commercial banking sector was not subject to much change over the last six years. 
There are still nine active banks, of which three are wholly owned by the State. Of the other six, one 
is majority -owned by the State, and another has a 10% state ownership. In November 2018, the 
IMF concluded its Article IV Consultation with Suriname, not ing its relatively good financial 
soundness indicator. As per the report, Suriname 's Central Bank is not independent.  
3.11.   The number of participants and the size of Suriname 's insurance market remained stable since 
the last Review. Twelve companies are still a ctive.  WT/TPR/M/3 91 • Suriname  
 
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  3.12.   The legislative framework on telecommunications services remained unchanged since the 
previous Review. A new Telecom Law extends coverage to mobile, text and data services. The 
process is expected to be finalized in 2019.  
3.13.   Suriname 's main port has b een facing continuous challenges over the past six years. The most 
immediate challenge remains the enlargement of the Suriname River and the subsequent increased 
accessibility for larger Panamax ships and oil tankers. Suriname has major plans to further ex pand 
its port capacities, to service the region as a hub.  
3.14.   Under the GATS, Suriname scheduled commitments in several telecommunications, air 
transport, and tourism and travel services.  
3.15.   Suriname 's current account deficit increased strongly between 2013 and 2 015, when it 
decreased to 16.2% of GDP. It fell in 2016 and 2017, mainly due to sharply falling imports, improved 
terms of trade, and recovering exports, but increased again during the first three quarters of 2018. 
Suriname 's gross international reserves f ell from USD 775 million in 2013 to USD 330 million in 
2015, before increasing again to USD 581 million in 2018.  
3.16.   State ownership remains important in many sectors of the economy. Partially or fully 
state-owned entities are important in oil, banking, agriculture, energy and utilities, transportation, 
and tourism. Progress on privatization has been slow. Except for the privatization of Suriname 's 
banana company, no other privatizations took place during the period under review.  
3.17.   Suriname is a m ember of CARICOM, enjoys preferential agreement with EU -CARIFORUM 
(EPA), and gets improved market access with MERCOSUR.  
Legislative framework and trade policy regime  
3.18.   Suriname 's institutional environment remains unchanged since the last Review. It is 
charac terized by a strong backlog in adopting important trade -related laws. Crucial legislation on 
topics such as customs, foreign investment, mining, trade facilitation, value -added taxes, 
competition, standards, and intellectual property has been pending, ofte n for more than ten years. 
In practice, a relatively large discretionary decision power and the practice of "ad hocism " have led 
to low predictability of the trade regime, concerns about governance issues, and high costs of doing 
business.  
3.19.   On the positive  side, it is worth mentioning that, to modernize and facilitate government 
communication, coordination and information exchange, several e -government projects were 
initiated in recent years.  
3.20.   Since 2015, ASYCUDA World has been applied for customs clearance.  Some 50% of 
consignments are physically inspected. Suriname joined the World Customs Organization in 
November 2018. Its legislation on customs valuation is based on the WTO 's Customs Valuation 
Agreement. Suriname has not yet ratified the Trade Facilitatio n Agreement (TFA), but it submitted 
its Category A commitments under the TFA in November 2015. It has also established a National 
Trade Facilitation Committee.  
3.21.   Suriname does not have a generic competition law. A competition law and a consumer 
protection la w have been under preparation for many years, but no date for enactment is foreseen. 
There is no stand -alone law on procurement, and present rules allow for numerous alternatives and 
flexibilities. A draft Intellectual Property Rights Bill has been pending  for several years.  
3.22.   Despite a relatively well -defined and clear legislative procedure, there is a backlog regarding 
many important trade -related laws, and the adoption has been pending for a long time. I am glad 
to hear that some of them have been approved  and some of them are in the pipeline. So, I hope 
this positive message will continue.  
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  Topics for discussion  
1. Diversification in the economy  
3.23.   The Government intends to seek out, or support through capacity -building, companies that 
will use local inputs for export or international products compensate for the use of local inputs instead 
of imported ones; improve the production capacity and quality of local producers; give infrastructure 
incentives; and modernize the system of intellectual property rights.  
3.24.   Aside from clusters in the traditional economic and wealth -creating sectors, such as mining, 
agriculture and forestry, many new ones have been earmarked for capacity development and 
support - palm-oil, coconut, cassava and cocoa production; pineapple produ ction; aquaculture, in 
particular fish and shrimp; tourism and creative industries, to mention some of them.  
3.25.   What concrete steps have been undertaken by the Government to reach these ambitious 
plans?  
3.26.   Foreign investment, particularly in the mining sector, plays an important role in Suriname 's 
capital formation. Annual inflows exceeded USD 300 million in 2016, but fell in 2017.  
3.27.   Suriname continues to support and encourage foreign investment, to help diversify its 
economy, with a relatively open investment re gime. To facilitate investors ' understanding of 
Suriname 's laws, procedures, regulations and reporting requirements, the Investment Law foresaw 
the establishment of InvestSur. However, instead, the Government created the Investment and 
Development Corporat ion of Suriname (IDCS) in April 2012. This institution sought investment to 
support Suriname 's sustainable and long -term economic development by acting as a "one-stop shop " 
for investors. It also recommended specific sectors, such as agriculture, mining, f ishery, renewable 
energy, construction, and services, to potential investors. Specifically, it tried to attract investors 
through the privatization of many of Suriname 's state -owned companies, and the creation of joint 
ventures.  
3.28.   The IDCS, however, ceased to exist in 2018, and was replaced by InvestSur, the investment 
agency originally foreseen in the Investment Law. InvestSur was officially launched in 
November  2018.  
3.29.   Clarification on the operation of the IDCS and/or InvestSur as an important institution for the 
support of general development ambitions contained in the five -year development plans would be 
useful.  
2. Legislative framework - adoption and implementation of laws  
3.30.   As per the Report, many important trade -related laws and their adoption have been pending, 
sometimes for more than ten years. Crucial legislation on topics such as customs procedures, foreign 
investment, trade facilitation, VAT, competition, standards, intellectual property rights, and 
consumer prot ection is at various stages of development but fails to be agreed upon and adopted. 
This also has been clarified by the Minister.  
3.31.   More detailed updated information on a broad spectrum of laws important for the 
improvement of Suriname 's legislative framewor k would be appreciated.  
3.32.   About 30% of Suriname 's tariff in the HS2007 classification is bound. Applied rates in 2019 
exceeded bound rates for 597 tariff lines, or 9.5% of Suriname 's tariff. The application of tariffs 
above the bound rate is subject to a req uest for negotiations under Article XXVIII.  
3.33.   What is the intention of the Government to consolidate this problem? I got written answers 
from you today. I quickly went through them, and I think that the solution is also underway by 
Suriname.  
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  3. Realization  of the five -year operational plans  
3.34.   Suriname 's economy faces fiscal, monetary, and structural vulnerabilities and challenges. Poor 
infrastructure, heavy dependence on the mineral sector, burdensome procedures, a large backlog in 
adopting crucial legislatio n, and a lack of economies of scale, contribute to the high cost of doing 
business and a relatively undiversified economy. The World Bank 's Doing Business list currently 
ranks it 165th out of 190 economies, so no real change compared to 2013.  
3.35.   Overall econo mic and trade policy objectives are laid down in five -year development plans. 
The key objectives include the diversification of the economy, an improvement of the business 
climate, and increased participation in international and regional markets.  
3.36.   In the o perational plans for the period 2017 –21, part of Suriname 's trade policy objectives is 
clearly taking a new direction, moving away from controlling its market to establishing the conditions 
to benefit more from trade, and to make the market more efficient,  accessible and predictable for 
local, regional and international traders and investors.  
3.37.   How successful are, and to what extent will the Government fulfil, the above -mentioned 
objectives in the context of problems just mentioned? What strategy and updated priorities have 
been undertaken in the institutional and legislative framework, and the implementation of goals, as 
well?  
3.38.   Finally, I wish Suriname a fruitful and smooth Review, with preferably positive future -looking 
conclusions.  
  WT/TPR/M/3 91 • Suriname  
 
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  4  STATEMENTS BY MEMBER S 
PERU 
4.1.  Peru wishes to express its solidarity with the people and Government of the Bahamas, and to 
convey deep condolences on the destruction and loss of life suffered by the Bahamas during the 
recent passage of hurricane Dorian.  
4.2.  Peru notes with satisfaction the measures taken by Suriname to diversify and stabilize its 
economy, to promote international trade and to boost foreign direct investment. Among these 
positive developments, we would like to highlight the upcoming implementation of a single  window 
for trade, the establishment of an investment agency and the negotiation of economic integration 
agreements, both within the region and with partners outside the Americas.  
4.3.  We also welcome the steps taken by Suriname for the development of agricultu re and the food 
industry, placing emphasis on the sustainability of production. As regards the fisheries sector, we 
should also point out the importance attributed to the preservation of the biological diversity of 
marine resources, and to their sustainabl e exploitation, through the negotiation of disciplines on 
fisheries subsidies, which is also of great interest to Peru. In the area of tourism, the plans for 
transforming eco -tourism into a sustainable industry for the coming 20 -30 years are also worthy of  
note. These policies, coupled with the commitment of the Government of Suriname to protect 93% 
of its tropical rainforest, reflect the country's awareness of the importance of sustainable 
development as a crucial component of economic development. In ligh t of this priority, and within 
the framework of the current review, the delegation of Peru has submitted a question regarding the 
management of forestry resources, and wishes to thank Suriname in advance for its response.  
4.4.  As a WTO member, Peru believes tha t strengthening the multilateral trading system is essential 
for sustained economic development and the stability of international trade. In this regard, we agree 
with the questions raised by other Members concerning the tariffs applied by Suriname in exce ss of 
bound levels, and the importance of binding unbound tariff lines in order to promote trade 
predictability. We would also like to emphasize the obligation to comply with the notification 
requirements provided for in the various agreements upon which t his Organization is based. To this 
end, it is important for Suriname to make firm plans to establish a diplomatic Mission in Geneva.  
4.5.  At the bilateral level, there is a rising trend in our total annual trade, due largely to an increase 
in Peruvian chemical and textile exports to Suriname. In future, we expect to identify additional 
potential export and import sectors that will further consolidate this relationship for our mutual 
benefit.  
4.6.  With these comments, and on behalf of the Peruvian delegation, I would like to wish Suriname 
every success in its third trade policy review.  
CANADA  
4.7.  The economy of Suriname was greatly impacted in the last few years by the reduction of 
commodity prices and the termination of alumina production. We recognize the challenge of 
managing fiscal and current account deficits in this context.  
4.8.  During the perio d in review, Canada maintained a significant investment presence in 
Suriname 's mining sector, which continues to dominate Suriname exports and greatly contributes 
to its economy. The Canadian company IAMGOLD has developed Suriname 's largest gold mine. 
Canada was pleased by the announced expansion of a second mine in 2017 following a significant 
gold discovery at Saramacca. This will extend IAMGOLD 's mining operations in Suriname for another 
30 years, providing stable, long -term support for Suriname 's econom ic development.  
4.9.  Indeed, the Government of Suriname appears to recognize the importance of implementing 
policies that promote trade, growth and development. I would like to highlight two such areas.  
4.10.   First, we applaud Suriname 's efforts to facilitate the r egistration of new businesses, which 
should continue to improve Suriname 's investment framework.  WT/TPR/M/3 91 • Suriname  
 
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  4.11.   Second, we are encouraged by the announced implementation of Suriname 's Electronic Single 
Window for processing documentation related to the import, export an d transit of goods. This will 
reduce the time required to obtain an export or import license, and will help facilitate business and 
trade.  
4.12.   While there has been good progress during the review period, we note that there are still 
areas where further improve ments would contribute to Suriname 's trade and economic performance. 
Let me outline a few.  
4.13.   First, Canada encourages Suriname to ratify the Trade Facilitation Agreement and submit the 
required notifications as soon as possible. This would expedite the movem ent of goods across 
borders, improve the transparency and predictability of trade, and reduce costs.  
4.14.   Second, Canada would strongly encourage Suriname to join the Joint Statement Initiatives, 
including the Structured Discussion on Investment Facilitation fo r Development. This Discussion aims 
to improve transparency and predictability of investment measures; streamline administrative 
procedures and requirements; and enhance international cooperation and stakeholder relationships. 
Working through these issues may help Suriname fulfil its Vision 2035 and In vestSur objectives.  
4.15.   Third, and in order to thrive, the private sector needs transparency and predictability 
regarding labour mobility. Accordingly, Canada encourages Suriname to ensure that its labour 
mobility  framework provides the certainty necessary for the private sector in order to help attract 
business and investment.  
4.16.   Finally, Canada notes that Suriname has taken steps to improve its government procurement 
regime via the 2015 amended Accounting Law. At th e same time, we believe that the country 's 
procurement framework would benefit from further strengthening. Therefore, Canada suggests that 
Suriname continue its efforts to align its domestic procurement regime with international standards. 
In that regard, Suriname may wish to consider becoming an observer to the WTO Agreement on 
Government Procurement.  
4.17.   We thank Suriname for its responses to our advance questions and look forward to a 
constructive exchange of views.  
COLOMBIA  
4.18.   I would like to begin by highlighting the great challenges Suriname is currently facing. As 
mentioned in the report by the Secretariat, Suriname is the smallest sovereign State in South 
America, and 93% of its surface area is covered by tropical rainforest. Most of its rather smal l 
population live in the coastal area, making it one of the least densely -populated countries in the 
world, a feature which has created setbacks in its productive and transport infrastructure.  
4.19.   Taking these factors into consideration, Suriname maintains an open economy with largely 
positive results. Nonetheless, perhaps the main challenge to the country's economy is the 
concentration of its exportable supply in primary products, which makes Suriname extremely 
sensitive to fluctuations on the international ma rket. This was evident between 2015 and 2016 when 
the economy suffered a sharp slowdown, largely due to the closure of mines producing its two main 
exports, bauxite and aluminium.  
4.20.   At the moment, gold and mineral fuels are Suriname's main exports, and toget her amount to 
more than 80% of exported goods. Their leading destinations are Switzerland; the European Union; 
and Hong Kong, China, with only a few exports to CARICOM, and practically none to the countries 
of South America. As shown in the Secretariat rep ort, the current export structure, which is 
experiencing stagnation in absolute values, is set to create serious economic repercussions for the 
country.  
4.21.   There is very little trade between Colombia and Suriname, totalling slightly under 
USD 5 million in 201 8. Colombian exports, comprising 57% agricultural products and 43% industrial 
goods, amounted to USD  4.8 million. Colombia's imports from Suriname were far fewer, amounting 
to only USD  75,000. However, we must point out that most of these imports were indu strial goods 
(57% of the total amount): mainly animal feed preparations, crankshafts and cranks, tractor parts WT/TPR/M/3 91 • Suriname  
 
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  and centrifuges. This is even more the case this year: by June  2019, 100% of exports from Suriname 
to Colombia were industrial products.  
4.22.   We wish to take this opportunity to launch an appeal to the distinguished delegation of 
Suriname: given the clear economic complementarity between our countries, it is important to 
explore the possibility of forging stronger and improved strategic trading alliance s that will surely 
reap tremendous benefits for both parties.  
4.23.   Other subjects in the policy review that merit attention are the importance of the agricultural 
and service sectors to the Surinamese economy. In 2017, they accounted for 9% and 55% of GDP, 
respectively. These two sectors are also the country's chief employers and together they account for 
approximately 77% of total employment, with services engaging two -thirds of the entire active 
workforce. Despite the importance of these two sectors, in both a griculture and services, Suriname 
reported a trade balance deficit in 2017.  
4.24.   Agricultural exports are limited to a few products, chief among them, bananas, which 
represent more than half of these exports; rice; and to a lesser extent, vegetables. The main 
destination for banana and vegetable exports is the European Union, and in the case of rice, Jamaica 
and Brazil.  
4.25.   In terms of trade in services, the dominant subsectors are wholesale and retail trade. In recent 
years, the most tradable services, particularly  in the tourism sector (hotels, restaurants, etc.), 
experienced a tremendous increase. Between 2012 and 2016, the annual number of tourists grew 
constantly, rising from 240,000 in 2012, to 257,000 in 2016. The origin of tourists has remained 
constant over the past ten years, with more than half coming from Europe (mainly from the 
Netherlands), and the remainder from South America and the Caribbean.  
4.26.   Suriname is an important WTO Member. The country was a GATT contracting party and a 
founding Member of the Org anization. It has taken limited, yet effective, action within the WTO, 
grants at least MFN treatment to all Members, and has never been called before a panel. It has not 
yet ratified the Trade Facilitation Agreement, nor has it accepted the amendment to th e TRIPS 
Agreement, two processes that we hope will be concluded satisfactorily.  
4.27.   Suriname's report presents a rather promising overview. The Government is striving to 
undertake meaningful changes to diversify and strengthen economic productivity through the  
measures foreseen under the latest development plan, "Nationaal Ontwikkelingsplan 2017 -2021". It 
is also establishing an investment agency, "InvestSur", and has been working with the World Bank 
to update its investment policy framework. One area of partic ular interest to Colombia is the design 
of a trade defence policy, and we look forward to receiving further information on this process.  
4.28.   During its second trade policy review in 2013, all Members highlighted the manner in which 
Suriname had overcome the in ternational financial crisis through its orthodox monetary policies, and 
without resorting to protectionist measures. We are sure it will confront the current challenges in 
the same spirit.  
4.29.   In conclusion, we wish Suriname every success in its trade policy review and we urge its 
representatives to strengthen the country's presence at the WTO, so as to ensure a multilateral 
trading system that works in a better, more inclusive fashion.  
EUROPEAN  UNION  
4.30.   The EU welcomes this opportunity to discuss such developments. Indeed, the Trade Policy 
Review Mechanism is especially important for countries like Suriname, where foreign trade 
represents 130% of the GDP.  
4.31.   As noted by Minister Tsang, Suriname shows signs of recovery from the recent economic 
crisis, when the worldwide drop in international commodity prices in 2015 and the cessation of 
alumina mining in the country significantly reduced government revenue during the past few years. 
Suriname 's GDP grew 2% in 2018 and is expected to grow further in 2019 and 2 020. Inflation has 
declined significantly; also , unemployment declined , and increased gold production helped lift 
exports.  WT/TPR/M/3 91 • Suriname  
 
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  4.32.   Of course, many challenges remain for Suriname 's Government to keep the country on a path 
of sustained and inclusive growth. A lot w ill depend on Suriname 's commitment to responsible 
monetary and fiscal policies and on the introduction of structural reforms to liberalize markets and 
promote competition. It is clear that Suriname has potentials and opportunities for increased 
production  and export and a free and sustainable trade is part of the solution.  
4.33.   As noted by the discussant, the services sector is the main economic activity in Suriname, 
contributing consistently to around 55% of GDP in the period 2012 -2017. Reforms in the regulat ory 
framework and legislation will lead to improve growth for the services sector.  
4.34.   Agriculture is also an important economic sector in Suriname, providing employment and 
income to around 17% of the economically active population. Minister Tsang referred t o the 
importance of diversification in the Surinamese economy. Agriculture is precisely one of the sectors 
to invest in to diversify. In this context, it is worth noting, that the 11th EDF National Indicative 
Programme (NIP) for the period 2014 -2020 ( EUR 13.8 million) has identified sustainable agriculture 
as the priority sector. The agricultural programme aims to achieve an increased, more competitive 
and safer production of selected crops, through an enabling environment and enhanced capacities 
of the pri vate sector and institutions.  
4.35.   The bilateral relationship between Suriname and the EU is important. Over the years, together 
with its Member States, the EU has become a major political and economic partner of Suriname.  
4.36.   The EU -CARIFORUM Economic Partnershi p Agreement (EPA) remains the cornerstone of our 
relationship. The EPA is provisionally in force since 2008. Suriname has not yet ratified the EPA and 
a national congress, held in 2018 in order to review the impact of the EPA, showed that the business 
comm unity requires more research and analysis. The EU looks forward to that and the ratification 
of the EPA.  
4.37.   The EPA ensures duty and quota free access to the European markets. Almost 25% of 
Surinamese export products, including aluminium, gold, oil, rice, fr uit and vegetables, shrimp and 
fish go to the EU market. The EPA is crucial for the export of agricultural products and opening a 
potential for further product diversification as well as for a deeper regional integration process. It 
also facilitates access  to assistance for private sector development under the 11th EDF for an 
effective implementation of the EPA and capacity building.  
4.38.   Further, the EU has recently conducted a very successful Political Dialogue with Suriname led 
by Minister of Foreign Affairs , HE Mrs. Yldiz Pollack -Beighle under article 8 of the ACP -Cotonou 
Agreement in Paramaribo. The EU is now also engaged in the promotion of European business 
interests conducive to Foreign Direct Investment in Suriname.  
4.39.   The EU is indeed an important investm ent partner for Suriname. As FDI flows are important 
to Suriname because they can attract greater investment opportunities, updating the current 
investment law can indeed encourage greater transparency and sustainability for investments  
4.40.   The EU in its quest ions has raised several issues, inter alia regarding competition policy, 
agriculture, services and customs and we thank Suriname for providing the replies, which we are 
examining carefully. We appreciate Suriname 's commitment and on -going efforts to facili tate trade 
and investment and we are hopeful that it will address any concerns we may have in this regard.  
4.41.   On behalf of the European Union, I wish Suriname a very successful review.  
UNITED  STATES  
4.42.   We recognize that Suriname does not maintain a Permanent Mission in Geneva and therefore 
wish to start this Trade Policy Review by commending Suriname 's willingness to engage with the 
Secretariat and Members by participating today.  
4.43.   As noted in the Secretar iat's report, the last six years for Suriname 's economy have been 
characterized by significant volatility, with annual GDP growth rates fluctuating between -5.6% and 
+ 2.9%. In spite of this turbulence during the period of review, the United States recogni zes 
Suriname 's continued efforts to integrate into the world economy.  WT/TPR/M/3 91 • Suriname  
 
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  4.44.   As a member of the Caribbean Community and Common Market (CARICOM) since 1995, 
Suriname has pursued trade policies in line with CARICOM on matters of economic integration, 
cooperation, a nd the coordination of positions in trade negotiations. However, since the last TPR in 
2013, the Secretariat reports there have been few changes in Suriname 's institutional environment. 
The United States wishes to highlight the importance of adopting impor tant trade related legislation 
on topics such as customs, foreign investment, mining, trade facilitation, value -added taxes, 
competition, standards, and intellectual property. We believe implementation of modern laws 
CARICOM supports and ratification of WT O treaties, such as the WTO Trade Facilitation Agreement 
(TFA), are important steps to increase trade within CARICOM, the United States and other trading 
partners.  
4.45.   We note there are additional areas that would benefit Suriname 's integration into global 
markets. Suriname 's 2018 proposal to the WTO to adjust its WTO bound rates is a concern to the 
United States as a principal or substantial supplier for many of the products identified in the proposal. 
While this was not mentioned in the Secretariat report of the Government report for this review, we 
would like clarification of its tariff rates. 
4.46.   The United States views intellectual property (IP) as an important tool to foster creative 
industries, promote entrepreneurship and fuel economic growth. As such, the U nited States is  
interested to know more about the draft bill on intellectual property that has been pending for several 
years. The Secretariat report indicates that although Suriname is a member of various IP -related 
agreements, implementation is lagging. We had specific questions on the geographical indications 
(GI) provisions in the draft IP bill, whether the copyright obligations in the Berne Convention were 
implemented, and the types of protections and enforcement provisions that the draft bill would 
provide for copyright and trademark violations.  
4.47.   The United States appreciates the opportunity to engage in this dialogue and looks forward 
to continued work with Suriname both bilaterally and within the WTO to facilitate trade and 
investment between our two countries.  
BRAZIL  
4.48.   Let me first congratulate our neighbouring country for its commitment to the WTO and to this 
exercise, which can be more demanding for non -resident Members. Brazil takes positive note of the 
resumption of the Suriname 's economic growth an d the increase of its exports since 2016.  
4.49.   In 2018, Brazil was Suriname 's fifth largest exporter: bilateral trade reached US D 35,5 million 
last year, consisting of US D 33,4 million in Brazilian exports and US D 1,1  million in imports. In 
bilateral trade, ric e is the main product exported by Suriname (95% of the overall exports), whereas 
manufactured goods accounted for 90% of the Brazilian exports, mainly Mechanical and electrical 
machines as well as processed meat.  
4.50.   Bilateral trade flows have much room for ex pansion. The lack of proper infrastructure 
connecting both countries, such as roads and regular ship service lines, hinders our trade flows. In 
addition, as a member of CARICOM, Suriname 's common external tariff remains quite high: while 
the average bound and applied tariff are 18 .3% and respectively, in the agricultural sector they 
reach 19 .8%% and 19 .5%. Tariff peaks are also applied (7 .3% of all tariff lines), resulting in import 
barriers. 
4.51.   According to the Secretariat report, there have been no fundamental changes in Suriname 's 
trade policies since the last Trade Policy Review in 2013. One the one hand, that 's positive since it 
signals stability and predictability, on the other hand, it shows there is some homework to do in 
terms of tariff reduct ion. 
4.52.   Brazil and Suriname are committed to strengthening their economic relations and cooperation. 
Suriname has been an associate member of MERCOSUR since 2013 and hope to deepen this fruitful 
partnership  going forward. Last year, Brazil and Suriname signed  a bilateral Cooperation and 
Facilitation Investment Agreement, which will help to boost foreign direct investments in both 
countries.  WT/TPR/M/3 91 • Suriname  
 
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  4.53.   Brazil continues to follow with interest domestic developments in Suriname 's trade policy. We 
have submitted some questio ns and wait for the answers.  
4.54.   Let me conclude by wishing our neighbours a very successful Trade Policy Review.  
ARGENTINA  
4.55.   Argentina observes with great interest that, following a period of fluctuating economic 
performance, the economy of Suriname has slowly begun to recover and is expected to grow by 2% 
in 2019.  
4.56.   In terms of bilateral engagements, Argentina is pleased by the signing of the 
Strategic  Partnership Framework Agreement between Suriname and MERCOSUR in June  2013, and 
we furthermore welcome th e fact that Suriname has been granted the status of associate member 
in MERCOSUR. Argentina currently exports motor vehicles and sunflower oil, among other things, to 
Suriname, and we hope to further increase trade between our countries.  
4.57.   As regards trade f acilitation, it is worth drawing attention to the fact that Suriname formalized 
its accession to the World Customs Organization (WCO) in November  2018. Moreover, in the same 
vein, although it has not yet ratified the Trade Facilitation Agreement, Suriname has notified its 
Category A commitments, and has established a National Trade Facilitation Committee.  
4.58.   During this trade policy review, Argentina has commented on public sanitary and 
phytosanitary control  bodies. More specifically, we have consulted Surinam e about the sanitary 
requirements to be fulfilled in order to gain access to the beef market, and we wish to thank the 
Surinamese authorities in advance for their due consideration of this matter.  
4.59.   In reiterating our appreciation of this renewed opportunity  to exchange comments on the 
trade policy of Suriname, we would like to once again draw attention to the relevance of this exercise, 
in all its aspects, and to wish the Surinamese authorities a successful conclusion of this review.  
ICELAND  
4.60.   Since the last r eview in 2013, Suriname experience economic downturn in 2015 and 2016 but 
the economy is now showing signs of recovery, with an expected GDP growth rate of 2% in 2019. 
Iceland welcomes the various initiatives that Suriname has undertaken aiming at more div ersification 
of the economy, an improvement of the business climate, as well as increased participation in 
international and regional markets.  
4.61.   On the occasion of the 11th Ministerial Conference in Buenos Aires last December , more than 
120 WTO Members and Observers launched a joint declaration on women and economic 
empowerment that aims  at, inter alia , sharing best practices and working together here at the WTO 
to remove barriers for women 's economic empowerment and increase their participation in trade. 
This declaration is the fruit of the Trade Impact Working Group that was established under the 
auspices of the International Gender Champions –Geneva, that Iceland is co -chairing with Sierra 
Leone and the ITC.  
4.62.   The trade policy review provides an excellent opp ortunity to share best practices in this field. 
Iceland submitted advance written questions on the participation of women in the economy of 
Suriname. We wish to thank Suriname for the responses to our written questions. We will review 
the answers thoroughl y and request clarifications as necessary during the course of this TPR. The 
answers are very useful as we implement the joint declaration on trade and women 's economic 
empowerment and gather best practices.  
4.63.   Iceland appreciates Suriname 's active engagement in WTO and their continued support for 
the multilateral trading system. We wish the delegation of Suriname every success for their third 
Trade Policy Review.  
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  CHINA  
4.64.   In the review period, the Suriname 's economic performance has been vola tile. However, we 
are impressed by the efforts of Suriname to make its economy more competitive and stable, and 
pleased to see that Suriname 's economy is rebounding from 2018, with an expected GDP growth 
rate of 2% in 2019. We congratulate for its achievem ent in trade facilitation, especially the 
implementation of The Suriname Electronic Single Window (SESW) in this month, and encourage 
Suriname to implement the development plan for 2017 -2021, and continue to take appropriate 
economic measures to achieve de velopment goals of accelerating growth while safeguarding 
stability.  
4.65.   Multilaterally, we are pleased to see that Suriname grants at least MFN treatment to all its 
trading partners, and submitted three notifications during the review period, especially notif ied the 
Preparatory Committee on Trade Facilitation of Suriname 's Category A commitment. As Suriname is 
an original member of the WTO, and looking into the possibilities to open a mission in Geneva, we 
look forward to Suriname 's more active participation i n the WTO -related activities to uphold the 
fundamental principles of this Organization, support each other on multilateral international arenas 
and collectively safeguard the rule -based multilateral trading system.  
4.66.   The Secretariat report describes that Sur iname 's institutional environment is characterized by 
a strong backlog in adopting important trade -related laws. In this regard we wish to encourage 
Suriname to improve investment laws and regulations, the visa convenience and residence 
permission to estab lish a more attractive environment for business and investment.  
4.67.   Bilaterally, China values and has been enjoying close and friendly relation with Suriname ever 
since the establishment of diplomatic ties in 1976. Especially during the period under review, ev en 
Suriname 's exports and imports has had a difficult time, the economic and trade cooperation 
between the two countries has been developing fast and smoothly. Two -way trade rose very quickly, 
contracting and labour  service cooperation was well under way. In 2017 and 2018, the total amount 
of the bilateral trade reached US D 204 million and USD 268 million, which increased by 23% and 
31% continuously. Especially in 2018, China was Suriname 's fourth largest source of imports, and 
the export from Suriname to C hina was more than doubled. China and Suriname are having a broad 
cooperation, such as the successful infrastructure construction projects of the international airport, 
low-cost housing projects, and successful technical cooperation. China and Suriname sig ned the Belt 
and Road Initiative construction MOU last year, and we are willing to align the Belt and Road Initiative 
with the development strategies of Suriname to enhance cooperation and communication. We 
believe such cooperation will not only benefit th e two countries but also boost the economic growth 
in the region.  
4.68.   To conclude, I wish Suriname 's delegation every success in the third review.  
INDONESIA  
4.69.   This TPR has provided a forum for Indonesia to understand further on how Suriname 
administers internat ional trade, and on how Suriname can benefit from WTO  consistent trade tools 
in managing international trade.  
4.70.   This TPR is also an important platform for Indonesia to explore further avenues in improving 
our bilateral trade relation with Suriname. By the n umbers, bilateral trade activities between 
Indonesia and Suriname have been declining.  
4.71.   Between the year 2014 up to 2018, this declining trend in bilateral trade demonstrated an 
average yearly pace of -2.42%. This fact is further confirmed by the declining  trend of Indonesian 
export to Suriname, which recorded an average yearly pace of -3.54%.  
4.72.   Indonesia is of the view that there are rooms for improvement in our bilateral trade. We view 
that our discussions leading up to this TPR meeting has provided insigh ts into this joint effort for 
trade improvement.  
4.73.   Indonesia believes that in order to attain the main objectives to Suriname 's trade policy, which 
include an improvement of the business climate and increased participation in international and WT/TPR/M/3 91 • Suriname  
 
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  regional markets, there needs to be in place a greater degree of transparency in the rules and 
regulations on trade and related investment  being adopted and enforced.  
4.74.   This will ensure the presence of a business environment with minimal discretionary decision -
making habits, in which businesses can conduct trade routines with a higher degree of predictability 
– and most definitely at a lower cost of doing business.  
4.75.   We have forwarded our inquiries, related to the above concerns, in written questions that we 
have submitted.  
4.76.   We, in this regard, wish to express our deep appreciation to the delegation of Suriname for 
the responses we have received, to our advanced written questions, amongst others:  
• on the strategy to address the lack of transparency in business and investment a pproval 
processes, bearing in mind that the promotion of a more business and investment -friendly 
economy requires that the government of Suriname take definitive steps to legislate and 
regulate its business and investment approval procedures;  
• on efforts t o increase the level of efficiency and effectiveness of border risk assessment 
procedure on imported goods;  
• on the division of roles, between the private sector and the government, to provide a 
favourable  conditions towards converting Suriname 's food prod uction sector into a major 
food producer and supplier of the Caribbean ; and  
• on the types of Government support being provided as part of the policy towards making 
Suriname a food production hub.  
4.77.   Further, last but not least, we look forward to Suriname 's response to our question on the 
progress of the revision process to the 2001 Investment Law. Hence, we also wish to get more 
information on how and the effectiveness of effort of the InvestSur investment agency to cope with 
various challenges, such as in m inimizing the risk of corruption and favouritism .  
4.78.   Let me conclude  by wishing the delegation of Suriname a successful process in the remaining 
phase of this TPR.  
SINGAPORE  
4.79.   Allow me to highlight three points.  First, Singapore welcomes Suriname 's efforts to diversify 
and moderni ze its economy. As a fellow small country, Singapore understands the challenges faced 
by Suriname, including a high degree of dependency on a narrow base of goods and services that 
can be exported to finance development. Hence, one way  that small countries like Suriname and 
Singapore have undertaken to overcome the limitations of size is to leverage on regional economic 
integration. In this context, we are heartened that Suriname has taken steps to participate in the 
CARICOM Single Mark et and Economy, which will help to integrate its economy regionally. Another 
positive step that Suriname has undertaken is to strengthen support for entrepreneurship and 
MSMEs as key drivers of economic growth and sources of employment. In addition, we are  pleased 
that Suriname is collaborating with a Singapore company to implement the Suriname Electronic 
Single Window from September 2019, this will go a long way towards enhance transparency and 
predictability in its export and import processes, which in tu rn will stimulate trade and investment.  
4.80.   Second, Singapore welcomes Suriname 's intention, as expressed in its Government report, to 
consider establishing a Permanent Mission in Geneva. This will be an important step as it will greatly 
enhance Suriname 's ability to broaden and deepen its contributions to the WTO. We also look forward 
to Suriname 's ratification of the Trade Facilitation Agreement and hope that Suriname can consider 
accepting the amendment to the TRIPS Agreement, as well as participating in the  Information 
Technology Agreements. We encourage Suriname to fulfil its notification obligations, and to avail 
itself of the technical assistance offered by the Secretariat to enhance its capacity. The WTO 's 
monitoring function is a crucial aspect of the Organization, and Members ' timely and complete 
notifications contribute to the predictability and transparency of the rules -based multilateral trading 
system.  
4.81.   Third, Singapore looks forward to expanding bilateral trade with Suriname. Although bilateral 
trade in goods between Singapore and Suriname is currently small, there is potential for growth. In WT/TPR/M/3 91 • Suriname  
 
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  particular, we note from the Secretariat 's report that Singapore ranked as Suriname 's No. 2 trading 
partner in Asia in 2017 in terms of merchandise exports from  Suriname. Singapore also accounted 
for 22% of Suriname 's forestry exports. Both sides should continue to identify new areas to broaden 
and deepen our bilateral ties.  
4.82.   In this context, we welcome the recent visit of Minister Tsang and his colleague Minister  of 
Foreign Affairs , Yldiz Pollack -Beighle , to Singapore last month. Besides attending the Signing 
Ceremony of the Singapore Convention on Mediation, the Ministers held fruitful discussions on ways 
to grow our bilateral relationship, including by facilitating greater business and tourism exchanges.  
Both sides also discussed the common challenges and interests of small states, including how to 
combat climate change.  
4.83.   Singapore looks forward to continuing our cooperation with Suriname and collaborating in 
new areas such as ICT and e -government initiati ves. We wish Suriname every success for this TPR.  
TRINIDAD  AND  TOBAGO  
4.84.   Trinidad and Tobago notes the commitment of the Suriname to the CARICOM Single Market 
and Economy as well as its efforts to strengthen its trade partnerships in the region. According to 
the Secretariat 's report, Trinidad and Tobago is an important source for imports for Suriname. This 
country 's exports to the latter in 2017 were reported to have constituted 2.6% of Suriname 's total 
exports. Like Suriname, this country has also signed the CARICOM Multilateral Air Services 
Agreement.  
4.85.   We also recognize the commitment to achieving objectives relating to the diversification of 
the economy and the provision of the required capacity development and support in this regard. 
Efforts towards improvi ng the business climate to stimulate entrepreneurship are also noteworthy.  
4.86.   We commend Suriname on the finalization and implementation of its Electronic Single Window 
(ESW). Trinidad and Tobago recognizes the economic setbacks faced by Suriname as a develo ping 
country and applauds the efforts made towards streamlining import, export and transit procedures, 
and the fulfilment of its commitments under the WTO Agreement on Trade Facilitation (TFA).  
4.87.   Given that the SESW is expected to be implemented in Septembe r 2019, Trinidad and Tobago 
would wish to enquire about any best practices or lessons learned that Suriname may wish to share 
from achieving this major milestone towards creating a more facilitative trade and business climate.  
4.88.   Trinidad and Tobago is aware  that designing and implementing a risk management system is 
a robust undertaking, especially for developing WTO Members such as Suriname. In light of this, 
Trinidad and Tobago would wish to encourage Suriname to continue to seek out donor funding for 
large projects under the TFA such as a risk management system.  
4.89.   In the above regard, we wish to thank Suriname for the consideration of our suggestions and 
recommendations. We are pleased to learn that they will be taken on board when developing your 
policy.  
4.90.   We extend our best wishes to Suriname for its ongoing efforts towards improving its trade 
policy regime and for a successful Trade Policy Review.  
DOMINICAN  REPUBLIC   
4.91.   The Dominican Republic shares close ties of friendship with Suriname, as a partner of our 
country within the framework of the bilateral agreement between the Dominican Republic and 
CARICOM, and also through the Economic Partnership Agreement between the Caribbean Forum of 
African, Caribbean and Pacific States (CARIFORUM) and the European Union (E PA), which Suriname 
applies provisionally, pending ratification by its Parliament. It must be stressed that these 
Agreements have allowed for preferential treatment in the trading of goods and services, which has 
produced tangible benefits for both our cou ntries.  
4.92.   In this context it is necessary to point out that the trade relationship between the 
Dominican  Republic and Suriname has developed to such an extent that Dominican exports totalled WT/TPR/M/3 91 • Suriname  
 
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  an amount of USD  6,932,000 in 2017, having risen by 13.5% from USD  6,107,000 in 2016. The 
same positive trend was seen in 2018, when exports reached a total of USD  7,486,000, according 
to statistics provided by the Dominican Ministry of Industry, Trade and MSMEs and the 
Directorate -General of Customs (DGC).  
4.93.   Among the chief items that the Dominican Republic exported to Suriname between 
January  and December  2018, were cement, with a total value of USD  2,833,000, followed by forged 
iron bars, to the tune of USD  1,567,000. Other leading exports include lubricating oil; mix ed 
condiments and mixed seasonings; cartons, boxes and cases, of corrugated paper or paperboard; 
threaded plastic lids, with or without an interior seal; and mineral or chemical fertilizers containing 
the three fertilizing elements nitrogen, phosphorus and  potassium.  
4.94.   According to DGC data, imports from Suriname amounted to USD  1,869,000 in 2018. The 
main import products included fuel oils (fuel), totalling USD  1,317,000; games, operated by coins, 
banknotes, bankcards, tokens or by other means of payment oth er than bowling alley equipment; 
and tilapia.  
4.95.   According to the report by the WTO Secretariat, gold and fuel are Suriname's main exports, 
with Switzerland; Hong Kong, China; and the European Union being the most important export 
destinations. In terms of ag ricultural products, we note that bananas form the major proportion of 
these exports, especially to the European Union, followed by rice.  
4.96.   Trinidad and Tobago, the United States and the European Union are the sources from which 
Suriname gets its main import s, namely, machinery, mineral fuels and prepared foodstuffs.  
4.97.   It would appear that mining activities form the major attraction for foreign direct investment.  
4.98.   We wish to underline the fact that according to the WTO Secretariat report, to date, Suriname 
has n ever appeared before the Dispute Settlement Body, nor has it ever initiated any action related 
to contingency measures. It has no national content requirements, does not grant export subsidies, 
and has no export processing zones. There are also no governme nt-sponsored or operated export 
insurance, finance or guarantee programmes.  
4.99.   Since the last trade policy review, the economy of Suriname has faced a number of challenges. 
We nevertheless note that projections for 2019 show a 2% GDP growth rate and a reducti on in the 
fiscal deficit of around 6%. The service sector generates the bulk of Suriname's economic activity, 
accounting for approximately 55% of GDP.  
4.100.   We note the positive thrust of the initiatives undertaken by the Government of Suriname as 
part of its 20 12-2016 Development Plan, which cover consumer protection, the development of a 
national competition policy, improvement of the policy on the registration of standards, promotion 
of small and medium -sized enterprise interests, and improvement of the busine ss climate. Similarly, 
we appreciate the extent to which Suriname's trade policy has been enshrined in the five -year 
national development plans right up to the latest period covering 2017 to 2021.  
4.101.   In keeping with this, the 2017 -2021 Multi -Annual Developmen t Plan identifies tourism as 
one of the key sectors from which greater economic growth can be generated. Suriname has 
simplified visa requirements and procedures for tourists, and this has had a positive impact on the 
sector.  
4.102.   It is worth mentioning that Su riname has submitted the following notifications to the WTO: 
on the technical regulation establishing minimum requirements for the basic hygiene and food safety 
of bread and banquet producers; to the Preparatory Committee on Trade Facilitation regarding it s 
Category A commitments, and on the renegotiation of Schedule LXXIV tariff concessions pursuant 
to Article XXIV:6 and Article XXVIII:5 of the General Agreement on Tariffs and Trade (GATT) 1994.  
4.103.   Relative to this last topic, the Dominican Republic reiterate s its statement in Note Verbale 
No. 18-0120 of 11  September  2018, in which it indicates the goods for which our country reserves 
its principal or substantial supplier rights. In addition, through that Note Verbale, the 
Dominican  Republic requested the Gove rnment of Suriname to provide relevant information on the 
structure of the CARICOM Common External Tariff, to show that the new customs duties would not WT/TPR/M/3 91 • Suriname  
 
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  have a greater general incidence than prevailing duties, pursuant to Article XXIV:5. The Dominican 
Republic reserves its corresponding rights in this respect.  
4.104.   Furthermore, we take note of the communication dated 10  September  2019 from the 
Surinamese Ministry of Trade, Industry and Tourism, which is being sent to our authorities in the 
capital. We wish to ex press our willingness to discuss the matter contained in that correspondence, 
as well as the issues we have raised. At this juncture, we hope that during the week of 
14 to 18 October this year, we might be able to convene a meeting on the topic with the pa rticipation 
of officials from our capital.  
4.105.   Regarding the questions posed by the Dominican Republic within the framework of this trade 
policy review, we hereby acknowledge that we received the relevant replies on 10  September  2019, 
and we shall also be tran smitting them to our authorities.  
4.106.   Finally, we recognize the effort that the Surinamese authorities have put into this trade policy 
review, and we wish them an effective implementation of the development plans that will lead 
ultimately to positive economic and trade performance.  
INDIA  
4.107.   Since the last Trade Policy Review in 2013, the economy of Suriname has witnessed 
considerable volatility with GDP growth rate fluctuating from -5.6% to +2.9%. The key reasons for 
this fluctuation was significant commodity terms of trade and internal shocks merchandise imports 
and exp orts of Suriname also declined during the period with coal and fuel emerging as the main 
items of export replacing bauxite and aluminium. However, we note from the reports that with efforts 
of the Government, the economy is on a path of recovery with expec ted GDP growth rate of 2% in 
2019. We commend the Government of Suriname for its sustained efforts and measures to promote 
economic growth and address the challenges. These include the development plan 2017 -21 which 
aims at diversifying the economy, improv ing business environment, attracting foreign investment, 
stabilizing the economy and addressing human development indicators.  
4.108.   India and Suriname share close, warm and friendly relations with strong cultural and historic 
linkages between both countries as nearly 27% of Suriname 's population comprises of people of 
Indian origin who have contributed significantly to the growth and development of the country. Trade 
between both countries which stood at USD 110.14 million, though modest, has considerable 
potent ial to gain in areas including iron and steel, electrical machinery and equipment, 
pharmaceuticals, textiles, agricultural products, chemicals and other areas.  
4.109.   India also has a vibrant development partnership cooperation with Suriname which includes 
lines of credits extended for implementation of the following projects :  
(i) Line of Credit project of USD 27.5 million for electrification of Pikin Saron area and 
upgradation of transmission network and infrastructure substation;  
(ii) Line of Credit of USD 11.123 mill ion for upgradation of milk processing plant; and  
(iii) Line of Credit of USD 20 million for rural electrification through solar energy under 
International Solar Alliance programme.  
4.110.   Besides, India is also extending assistance for projects in various other areas  including 
irrigation, crafts, information technology, healthcare, and other technical and humanitarian 
assistance.  
4.111.   Professionals from Suriname also avail of training programs under the Indian Technical and 
Economic Cooperation Programme in various instit utions in India in areas including rural 
development, banking, ICT, new and renewable energy, etc.  
4.112.   To conclude, Suriname is a small and open economy and is blessed with mineral reserves 
and natural resources. We wish the Government of Suriname success in its plans and future 
endeavours to address economic growth and challenges and look forward to working closely to 
strengthen our ties with Suriname in all areas including trade and economic ties. We wish the 
delegation of Suriname a productive and successfu l TPR.  WT/TPR/M/3 91 • Suriname  
 
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  GUYANA  
4.113.   Suriname is an important member of the Caribbean Community (CARICOM) , as well as a 
strategic partner in the Guiana shield in the Amazon on the South American mainland.  
4.114.   We recognize the economic challenges that Surinam has face recently, we applaud the steps 
Suriname is taking to moderni ze its cross -border infrastructure for  regional and international trade 
and investment. Suriname 's ongoing efforts to implement the WTO Trade Facilitation Agreement is 
noted and the establishment of the Electronic Single Window with the support of the World Customs 
Organization (WCO) and UNCTA D demonstrate, as an example, the very serious commitment to 
further integrate in to the global economy and participate effectively in the multilateral trading 
system.  
4.115.   We encourage Minister Tsang and his team to press ahead with these trade reforms which 
will continue to deliver tremendous benefits to the private sector, consumers and the public sector.  
4.116.   We appreciate Suriname 's emphasis regarding the large proportion of its landmass c overed 
by tropical rainforest and  that the member has committed to keep protecting over 90% of this 
bio-diverse asset, not only for its own benefits in sustainable forest management, eco -tourism and 
green energy initiatives, but as a deliberate response and contribution to the global community of 
nations seeking a more su stainable life on planet earth.  Trade and environment are increasingly 
important and policy space for countries that contribute to combating climate change and related 
global changes should be increasingly recognized, especially as it affects the agricultu ral sector and 
food security initiatives.  
4.117.   Small economies continue to make big sacrifices in the multilateral trading system in this 
context. The small vulnerable economies of the Caribbean Community do so generously, and our 
sister member state Suriname u pholds this tradition in no small way.  
4.118.   Guyana congratulates Minister Tsang and his Government for the trade reforms in Suriname 
and urges increased efforts at global and national trade policy coherence recognizing the importance 
of increased multilateral s ystem participation. We wish the delegation of Suriname a very productive 
third Trade Policy Review.  
BARBADOS  
4.119.   We wish to express our sincere appreciation to Minister Tsang for his thought -provoking  
statement. His country 's perspectives have certainly given  us reason for cautious refection as we in 
the WTO continue to contemplate a reformative agenda that at least for us, must effectively bring 
the most vulnerable amongst us, more fully into the multilateral trading system, including by 
allowing them the nec essary policy space and policy options to plan for and respond to existing and 
emerging economic and environmental challenges.  
4.120.   We recogni ze that since its last Trade Policy Review in 2013, Suriname like many small 
vulnerable economies, experienced fluctuat ions in its growth and economic realities having recorded 
annual GDP growth of 2.9 % in 2013 and after three years of negative growth rebounded to 1.7 % in 
2017. These fluctuations have mainly been attributed to systemic internal factors , as well as 
substant ial changes in the country 's export and production base, chief among these were the 
country 's shift away from the production of bauxite and aluminium, towards the production of gold 
and fuel, which have emerged as the country 's main export products.  
4.121.   Barba dos is hea rtened to see that while recove ry remains slow, Suriname is expected to 
experience growth of 2 % in 2019. We therefore take note that in seeking to maintain and accelerate 
this growth and achieve its overall economic and trade policy objectives, Suriname has developed a 
five-year development plan for the pe riod 2017 -21. The main objectives of which are to diversify 
the economy, improve the business climate, and increase its participation in inte rnational and 
regional markets. Of pa rticular note is the Gove rnment's efforts with respect to trade facilitation 
aimed at increasing exports and bolstering economic competitiveness. We do note that while some 
technical assistance and capacity building has been acquired in the area of trade facil itation, more 
will be required in this and other areas. It is important that special and differential treatment and 
the provision of technical assistance and capacity building remains accessible to small developing WT/TPR/M/3 91 • Suriname  
 
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  countries like Suriname in current and fu ture agreements if they are to more fully integrate into and 
effectively benefit from the multilateral trading system.  
4.122.   As sister countries in the Caribbean Community (CARICOM), Barbados and Suriname we aim 
to achieve economic and political integration, har monization and interdependence through the 
CARICOM Single Market and Economy. At the international level, we share a strong belief in the 
principles and benefits of multilateralism. We are encouraged to hear that Suriname is exploring the 
possibility of es tablishing a Mission in Geneva and look forward to welcoming them. For us, this 
speaks to Suriname 's the confidence in and commitment to the multilateral trading system, as well 
as the continued relevance of the WTO to small developing count ries like ours in the CARICOM 
region.  
4.123.   In conclusion, Barbados joins others in wishing Suriname a successful conclusion to its third 
Trade Policy Review.  
JAMAICA  ON BEHALF  OF THE ACP GROUP  
4.124.   Since the launch of its Development Plan for 2017 -2021, Suriname 's economy has prov en 
resilient despite a turbulent and volatile landscape. After contracting by 2.1% in 2017, the economy 
rebounded to register GDP growth of approximately 1.2% in 2018. This is further expected to 
increase to 2% in 2019. Measures taken by the Government to stabili ze the economy have produced 
positive results, including an improved balance of payment and a major reduction in the rate of 
inflation within the country from 60% in 2016 to 6% in 2018. This figure is expected to decline even 
further to an estimated  5.4% in 2019 and has enhanced the trade and investment climate within 
the country.  
4.125.   Despite the dominance of services as the main economic activity in Suriname with an 
average contribution to GDP of around 55%, like many ACP states, the agriculture and fis heries 
sectors are important contributors to the country 's economy. The Government of Suriname has also 
adopted initiatives, in collaboration with the private sector and international organisations to utilise 
natural resources such as fertile land, while d eveloping agricultural productive capacity, towards 
expanding the country 's agricultural output, including for export. The ACP Group further notes the 
goal of the Government of Suriname to protect 93% of its forests in keeping with global efforts to 
promot e sustainable development. This is projected to have positive spillover effects on economic 
development and trade, through the creation of opportunities in sectors such as eco -tourism and 
green energy.  
4.126.   The ACP Group wishes to commend the active steps bein g undertaken by the Government 
of Suriname to expand and diversify its export base, which has long been dependent on a few 
commodities, through a series of reforms aimed at attracting foreign investment to boost sectors 
such as tourism and non -timber fores t products. In connection with this, the country has also 
introduced simplified visa procedures to further bolster growth in its tourism sector.   
4.127.   Positively also, special focus has also been placed by the Government of Suriname in 
stimulating the growth o f its micro-, small-, and medium -enterprises (MSMEs) with assistance 
programmes being provided through an Entrepreneurs Desk set up by the Ministry of Trade, Industry 
and Tourism which are aimed at guiding entrepreneurs in setting up their firms. This has,  inter alia , 
enabled entrepreneurs to access credit which was a major challenge in the past.  
4.128.   In recognition of the important role of trade as the engine of economic growth and 
development, Suriname has also been working towards making its trading system m ore open by 
strengthening its engagement globally, as well as regionally with its CARICOM partners within the 
CARICOM Single Market and Economy. In addition, the Government is also undertaking measures 
to expand trade through its targeting of the Surinames e Diaspora as a niche export market. Linked 
to this, Suriname has also been making investment in upgrading its air, land and marine transport 
including air and seaports to reduce transport costs. This is expected to facilitate increased 
movement of goods b oth regionally and globally.  
4.129.   Positive mention should also be made of the measures adopted by the Government of 
Suriname, following on its accession to the World Customs Organi zation in 2018, to facilitate trade 
and reduce costs through the recent introduction of an Electronic Single Window platform that will WT/TPR/M/3 91 • Suriname  
 
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  greatly enhance transparency and predictability for traders in the country. This platform will facilitate 
all customs clea rances and fulfilment of regulatory requirements. Moreover, the platform will also 
provide a tracking service to follow the status of consignment release.   
4.130.   The ACP Group congratulates the member of State Suriname for the strides made since its 
last review  and its continuous efforts to strengthen its participation as a dynamic actor in the 
multilateral trading system in furtherance of its development objectives. We wish Suriname every 
success in this review.  
JAPAN  
4.131.   With regard to its customs procedure, Japan  highly evaluates Suriname 's efforts to facilitate 
trade. For example, Suriname has been implementing the ASYCUDA World system since 2015. This 
is a system of customs clearance that facilitates the calculation and collection of customs duties and 
other cha rges, and helps with risk analysis for smooth clearance of goods. Moreover, according to 
the Government 's report, we note that the Suriname Electronic Single Window will come into effect 
as of September 2019. This system will provide great benefits for tra ders as: it will allow traders to 
submit documents related to export and import electronically, it will make customs declarations 
possible at single entry points, it will reduce the amount of time and administrative procedures 
required, and it will promote  communication between traders and public authorities. Japan 
commends such efforts by Suriname to promote trade facilitation and is confident that these will 
enhance the transparency and predictability of its trade.  
4.132.   On the other hand, we still have concern s regarding the time required for clearance. 
According to the Secretariat 's report, the average time to import is still two or three days. We are 
concerned that long clearance times will weaken Suriname 's international competitiveness and could 
act as a tr ade barrier. Therefore, we encourage Suriname to make the best use of the ASYCUDA 
World system and the Suriname Electronic Single Window to reduce the time needed for clearance.  
4.133.   Regarding trade policies, Japan appreciates Suriname 's active participation in  the WTO 
negotiations. We are pleased to see that Suriname submitted its Category A commitment under the 
Trade Facilitation agreement in November 2015 and has also established a National Trade Facilitation 
Committee in 2016. On the other hand, the report b y the Secretariat says that Suriname has neither 
ratified the Trade Facilitation Agreement nor submitted its Category B and C commitments. We hope 
that Suriname will ratify the Trade Facilitation agreement and submit its Category B and C 
commitments soon. This would facilitate our analysis of the need for assistance.  
4.134.   Now, let me briefly touch upon Suriname 's WTO tariff bindings. According to the Secretariat ' 
s report, Suriname 's applied rate in 2019 exceeded its bound rate for many tariff lines. We also 
recognize that this issue is subject to a request for negotiations under Article XXVIII, and we are 
highly interested in how Suriname will settle this matter with other members. Japan hopes that we 
will be able to arrive at a solution in the near future.  
4.135.   With regard to the situation surrounding Suriname 's industries, both the Government 's 
report and the Secretariat 's report indicate that the limited number of exports of goods such as gold 
and fuel is one of the reasons behind the country 's economic vulnerab ility. Therefore, we expect 
Suriname to make further efforts to accelerate its industrial diversification for the stability and 
development of its economy.  
4.136.   In conclusion, we wish Suriname a successful and productive TPR, and look forward to 
hearing of furt her progress regarding its trade policies at its next TPR.  
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  5  REPLIES BY THE REPRE SENTATIVE OF SURINAME  AND ADDITIONAL COMM ENTS  
5.1.  First of all, thank you to  Mr. Chair , Ambassador Manuel A.J. Teehankee from the Philippines,  
and the discussant Ambassador Peter Brno from the Slovak Republic.  
5.2.  Thank you to the WTO Trade Policy Review Division : Willy Alfaro, Arne Klau and Bernard Kuiten 
for their excellent advice.  
5.3.  Thank you to all the Member States that came to support us and a special thank to Peru, 
Canada, Colombia, the European Union , the United States , Brazil, Argentina, Iceland, Indonesia, 
Singapore, Trinidad and Tobago, the Dominican Republic, India, Guyana, Barbados, Jamaica, the 
ACP Group, and Japan for their remarks on t he first day of our TPR.  
5.4.  We received many excellent recommendations and we are sure to take them back home for 
further consideration.  
5.5.  There were similar recommendations made by various Member  States and we have grouped 
them together. I 'll start with comme nting on the remarks made by more than one Member  State 
and then I 'll comment on the ones from individual Member States.  
5.6.  Several Member States (Peru, Colombia, USA, Brazil, Argentina, Indonesia, Singapore and the 
Dominican Republic)  recommended to improve bilateral trade with Suriname.  
5.7.  We welcome bilateral trade, and we are focusing on non -traditional markets . I want to say that 
we are in the process of joining ALADI and we seek sponsorship from ALADI members to join. Also, 
we are working on connectivity t o new markets, which we deem essential for bilateral trade. We are 
open to bilateral discussions to enhance our economic relations with any country that is interested.  
5.8.  Several Member  States (Peru, Colombia, China, Singapore;  and Barbados)  recommended 
Suriname to set  up a Permanent Mission in Geneva in their remarks.  
5.9.  The Ministry of Foreign Affairs has already started the process to set  up a Mission in Geneva. 
Consultations have been conducted with the Government of Switzerland. And we have had talks with 
our CARICOM  sister Nation Barbados for the possibilities of cooperation. Suriname acknowledges the 
importance of a Permanent Mission in Geneva to allow us to participate more actively in Global 
matters.  
5.10.   Several Member States (Peru, Canada, the United States , China,  and Singapore)  
recommended for timely notification by Suriname.  
5.11.   The Government  of Suriname acknowledges the need to adhere to notification requirements. 
It is a problem of finance and expertise  for us . We seek technical assistance from the WTO and from 
Member States to adequately comply.  
5.12.   Several Member States (Canada, Colombia, the United States , Argentina, China, Singapore, 
the Dominican Republic,  and Japan)  recommended to ratify the TFA and Trips . 
5.13.   The draft legislation for TFA and Trips have already been sent to the Council of Ministers, and 
after its approval, the process of ratification can be started.  
5.14.   The European Union  and Indonesia have recommended to update the current  investment law 
in their remarks.  
5.15.   Investsur is established in 2018 and is currently working on a new investment law, with our 
stakeholders.  
5.16.   China, Jamaica and the ACP  Group  have recommended ease of Visa and residency 
requirements.  WT/TPR/M/3 91 • Suriname  
 
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  5.17.   Suriname implemented the tourist card aka the visa  on arrival system in 2011 to make it 
easier for tourists and visitors to come to Suriname. We are continuously trying to make it even 
easier for visitors to enter the country. We recently launched the E -visa/E -tourist card via online 
application,  and we a re in a continuing process of making the service more accessible and user  
friendly.  
5.18.   We agree with Barbados and Trinidad and Tobago that technical assistance and 
capacity -building must be available for developing countries within the WTO. Small vulnerable 
economies often lack the finances and expertise. Only with technical assistance can there be a level 
playing field, and that should be what the WTO should stand for.  
5.19.   Peru recommended Suriname to diversify its economy with ecotourism and fisheries. We fully 
agree and , as a matter of fact, we have identified ecotourism as one of the main pillars to develop 
tourism in Suriname. With respect to fisheries , we are working on new procedures to regulate the 
industry, the biggest challenge is to monitor and fight ill egal fishing and smuggling in Surinamese 
waters.  
5.20.   Canada recommended Suriname to join the Joint Statement Initiatives including the 
structured discussion on investment facilitation for development. We will present this to the Ministry 
of Finance and Invest Sur for their consideration.  
5.21.   Canada also advises to work on transparency and predictability in labour mobility, which we 
will suggest to the Ministry of Labour for their consideration.  
5.22.   Furthermore , Canada recommended Suriname to be an Observer to the WTO Government  
Procurement Agreement.  
5.23.   The Government  of Suriname places high value on transparency in government procurement.  
5.24.   We have implemented the Integrated Financial Management and Information System (IFMIS), 
which is a unique software that will help us to better control budget and expenditures throughout 
the entire Government of Suriname, to make the system totally transpar ent. We are using best 
practices from around the world to help us move our nation forward.  
5.25.   We passed the law on government procurement in 2017 and amended it in 2019 to comply 
to international standards. We are in the process of our National Ris k Assessmen t and we will 
continue to introduce more economic reform. The suggestion to be an Observer to the WTO GPA to 
further improve transparency will certainly be relayed to the NRA committee for consideration.  
5.26.   The European Union  recommended Suriname to ratify th e CARICOM -EU EPA.  
5.27.   Ratification of the EPA is currently pending in Parliament to be put on agenda for processing.  
5.28.   The United States  had 2 questions:  
• to clarify current tariff rates, under article 28 GATT.  
5.29.   I want to report that we are currently in the negoti ation phase for the tariff rates.  
• Request for more information on the draft bill IP (GI 's, Copyright in the Berne convention) . 
Does the bill provide protection and enforcement of copyright and trademark violations.  
5.30.   The answer is : yes, the new draft IP law will provide protection and enforcement of copyright 
and trademark violations.  
5.31.   Brazil recommended Suriname to work on upgrading the infrastructure.  
5.32.   We acknowledge the need for connectivity for trade and tourism. With respect to 
infrastructure , we are curre ntly seeking FDI to build bridges and infrastructure to our neighbouring 
countries : Guyana, French Guyana and , of course , Brazil.  WT/TPR/M/3 91 • Suriname  
 
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  5.33.   Iceland recommends that we join the Joint Declaration on Women and Economic 
Empowerment in Trade of the trade impact working group. We will gladly take this into consideration.  
5.34.   We warmly welcome China 's offer to support the alignment of the Belt and Road Initiative 
with our National Development Strategy. And we welcome further discussion s with China on this 
matter.  
5.35.   We also welcome Singapore 's offer to make use of their ICT technical assistance.  
5.36.   We gladly share our best practices on E lectronic Single Window implementation with 
Trinidad  and Tobago  
5.37.   India recommended Suriname to make use of the training program mes under th e Indian 
Technical and Economic cooperation program me and the projects that they are currently doing in 
Suriname.  We are very grateful to India 's support and assistance , and we look forward to even 
greater cooperation.  
5.38.   We thank our neighbour , Guyana,  for their support to Suriname 's green initiative and 
commitment to the environment.  
5.39.   Japan recommended that Suriname notifies category B and C.  
5.40.   I want to report that on 4 September , we already submitted Category B and C notifications.  
5.41.   And, with that , I believe I have commented on all remarks made by the Member States. I 
want to conclude by thanking you once again for the excellent recommendations and the support 
that me and my team have experienced here.  
5.42.   And my sincerest gratitude to my team who have been excelle nt and have worked very hard 
these past few days.  
5.43.   Please join us at the gallery afterwards, where we welcome you all for a small tasting of 
Surinamese flavours.  I thank you.  
DISCUSSANT  
5.44.   At the outset, let me thank Mr. Stephen Tsang, Minister of Trade, Industry and Tourism, and 
the whole delegation of Suriname for their efforts made to reply to the additional questions raised 
on Wednesday.  
5.45.   Before I touch upon more specific topics suggested for more detailed discussion, let me repeat 
briefly the areas of Suriname 's economy which attracted the most frequent interest of Members, 
where, on one side, more critical interventions were highlighted and, on the other side, many positive 
comments had been mentioned.  
Challenges  
• Suriname 's economic performance has bee n highly volatile, with a low level of diversification.  
• Merchandise exports are limited to some products, mostly raw materials and agriculture 
products.  
• Suriname 's current account deficit increased again, due to repeatedly worsening terms of 
trade.  
• The ins titutional environment is characterized by a strong backlog in adopting important 
trade -related laws, which led to low predictability of the trade regime, concerns expressed 
about governance issues, and high costs of doing business.  
• Applied rates in 2019 e xceed bound rates for almost 10% of items of HS2007.  
5.46.   On the positive side:  
• Inflation declined significantly to 6% in 2018.  WT/TPR/M/3 91 • Suriname  
 
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  • Slow recovery of the economy is underway, with an expected GDP growth rate of 2% in 
2019.  
• Regional integration efforts will bring pos itive results.  
• Several e -government projects were initiated in recent years.  
• ASYCUDA World has been applied for customs clearance.  
• Suriname joined the World Customs Organization in November 2018.  
• Its legislation on customs valuation is based on the WTO 's Customs Valuation Agreement.  
• Suriname submitted its Category A, B and C commitments under the TFA, and also a National 
Trade Facilitation Committee has been established.  
Topics for discussion  
1. Diversification in the economy  
2. Legislative framework - adoption and implementation of laws  
3. Realization of the five -year operational plans  
5.47.   Many of the concerns mentioned the day before yesterday were phased out in the introductory 
statement of Minister Stephen Tsang in all the three above -mentioned areas. Steps undertaken by 
Suriname 's Government to face the crisis, by adopting drastic and necessary measures aiming to 
speed up economic reform, are welcomed. Updating of legislation, implementing policies to develop 
other sectors, stren gthening of regional commitments, developing a green economy, upgrading 
human capital and social security, among others, deserve thorough attention.  
5.48.   In more concrete steps, the adoption of the Anticorruption Law and related legislation, the 
Law on Electron ic Transactions, the Law on Annual Reporting, the Government Procurement Law, 
and a series of pieces of legislation to improve the economy and doing business in Suriname had 
been approved during the last three years. These and other steps of the Government  to fulfil the 
overall economic and trade policy objectives led to the diversification of the economy. The 
improvement of the business climate should be commended.  
5.49.   In this context, I would like to encourage Suriname 's Government to continue in these effort s 
and to adopt the other pending laws, namely the Law on Intellectual Property, the Privacy Law, the 
Law on Mediation, the Law on Commercial Competition, which are in the last phase of approval in 
Parliament. Some important laws also mentioned by several M embers were not submitted for 
approval yet, and they remain a matter of concern.  
5.50.   As a high priority, the revision of the Investment Law aiming to promote and attract FDI 
should be considered, along with legislation to create industrial parks, and free trad e zones to create 
an interesting environment for more value -added and diversified production.  
5.51.   Clarification on the operation of InvestSur as an important institution for the support of 
general development and investment is still on the agenda.  
5.52.   State owner ship remains important in many sectors of the economy. Progress on privatization 
has been slow. Acceleration of the privatization process, creation of joint ventures, and an open 
regime for FDI would speed up production capacities, diversify production, su pport the creation of 
MSMEs, and enable better integration through global value chains in many sectors. Consequently, 
growing services ' demand will further boost the economy, which will lead to increased participation 
in international and regional markets.  
5.53.   The positive approach of Suriname 's environmental policy to preserve rain forests, the green 
energy policy which is focusing on generation via solar, water and biogas, and the development of 
ecotourism are definitely right strategic decisions.  
5.54.   This is al so the case for government support to developing MSMEs, where several programmes 
and technical assistance are provided. However, a lack of finance has been indicated.  
5.55.   Finally, during the two -day exercise, we can acknowledge that Suriname 's Government made 
good progress in the stabilization of the economy. It adopted important legislation for its stability, WT/TPR/M/3 91 • Suriname  
 
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  diversification and integration. At the same time, it is clear that, in many areas, further efforts are 
inevitable. No doubt, the implementation of adopt ed strategies and laws will play a crucial role in 
gaining desired progress.  
5.56.   Last but not least, I would like to join those Members who explicitly recommended the opening 
of a Permanent Mission of Suriname in Geneva. This may activate the efforts of the Go vernment to 
participate in negotiations in important areas, such as e -commerce, services, and investment 
facilitation, among others, and better work on the transparency and predictability of its trade policy 
regime.  
5.57.   I congratulate Suriname for a successfu l TPR. Thank for your cooperation and I wish the 
delegation a safe return home.  
EUROPEAN  UNION  
5.58.   The EU would like to first thank Suriname for the comprehensive overview presented on 
Wednesday and this morning  of the main developments occurred in its trade a nd economic policy 
during the review period.  
5.59.   The EU notes that this third Review of Suriname has been helpful for better understanding 
the main developments in the trade policy of Suriname carried out in these last years and the 
challenges that Suriname i s facing  in the future.   
5.60.   The EU hopes that Suriname will duly take into account some of the few challenges highlighted 
by Members during this Trade Policy Review. For instance, we would like to invite the Government 
of Suriname to pay attention to the com ments made by other Members on the government 
procurement process, which remains ambiguous, and the fact that there is no stand -alone law on 
procurement. We take note of the update provided this morning regarding the government 
procurement law. We would li ke to highlight that a number of EU companies experience some 
uncertainty, when they have been awarded a contract. Awarded contracts are cancelled and put out 
for tendering again for reasons that are unclear to companies. We would very much appreciate an 
update on the work with the IADB and CARICOM to standardize the procurement system in 
Suriname.  
5.61.   The EU would like to acknowledge the progress made and like to encourage Suriname to 
continue in its ambitious efforts to reform its economy.  
5.62.   We would also like to thank Suriname for having provided timely and comprehensive replies 
to the questions raised by the EU. The answers gave useful clarifications on the issues we had raised 
and show Suriname 's commitment to further legal reforms.  
5.63.   In this context, we would like to underline again the importance of the CARIFORUM -EU 
Economic Partnership Agreement for bilateral trade relations and trade opportunities it creates. We 
would like to invite Suriname to not delay further the reforms and the EPA ratification.  Again, we 
take good note of the update provided this morning in the statement by the Minister.  
5.64.   We would like to highlight the importance of the appropriate implementation of the EPA tariff 
reduction schedule for economic operators in Suriname and manufacturi ng sector to increase the 
economic competitiveness of markets and production.  
5.65.   We are looking forward to our continued cooperation in all the relevant multilateral and 
plurilateral and bilateral fora.  
5.66.   Finally, o n behalf of the EU, I would like to congratul ate Suriname for concluding this 
productive and successful review.  
UNITED  STATES  
5.67.   The United States would like to sincerely thank the members of the delegation of Suriname 
for their preparation and constructive participation in this Trade Policy Review. We also thank WT/TPR/M/3 91 • Suriname  
 
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  Ambassador Peter Brño for his clear and informative insights. And, as always, the Secretariat for the 
excellent work.  
5.68.   We greatly appreciate the presentation by Minister Tsang on the various efforts underway in 
Suriname to create and foster a more investor - and trader -friendly environment. We believe that 
these initiatives, if combined with implementation of modern trade legislation, as mentioned by 
many Members in their remarks, will contribute to Suriname 's overall regional and global 
competitiveness and integration in world markets. For example, the tangible commercial and  
economic benefits from initiatives such as the Electronic Single Window system, highlighted by the 
Minister in his day 1 remarks, will only be fully realized in conjunction with critical policy reforms 
such as ratification and swift implementation of the WTO Trade Facilitation Agreement, and by 
providing traders the necessary transparency on Suriname 's current applied tariff rates.  
5.69.   We thank Suriname for their responses to all our written questions, as well as responses from 
Minister Tsang to the two questi ons from our day 1 statement.  
5.70.   The United States appreciates the opportunity to engage in this dialogue and looks forward 
to continued work with Suriname, both bilaterally and within the WTO to facilitate trade and 
investment between our two countries.  
5.71.   Please accept our best regards and safe travels for your return home.  
  WT/TPR/M/3 91 • Suriname  
 
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  6  CONCLUDING REMARKS B Y THE CHAIRPERSON  
6.1.  The third Trade Policy Review of Suriname has offered us a good opportunity to deepen our 
understanding of recent developments in, and challenges to, its trade, economic, and investment 
policies. The more than 130 advance written questions submitted by 13 Members and the 
18 delegations that took the floor during the first day underline the importance attached by Members 
to Suriname 's trad e and investment policies and practices. The statements, questions, and replies 
voiced in the course of this Review have highlighted the fact that Suriname is a generally open 
economy, with strong historical and economic links to many parts of the world, t hat is rich in natural 
resources and for which trade is essential for development.  
6.2.  I would like to thank Suriname 's delegation, led by the Honourable Minister of Trade, Industry 
and Tourism, Stephen Tsang, for its active participation in this exercise. I w ould like to thank our 
discussant , H.E. Mr. Peter Brno, Permanent Representative of the Slovak Republic, for his insightful 
remarks, and all the delegations that took the floor for their valuable contributions to this Review.  
6.3.  Members took note of Suriname 's difficult and highly volatile economic environment since 2013, 
coupled with a relatively low level of diversification, which had led to a decline of per capita GDP in 
US dollar terms. At the same time, Members noted that more and meaningful reforms coul d help 
Suriname develop and diversify by improving conditions for trade and investment. In this respect, 
it was noted that while some constraints and challenges, such as poor infrastructure, are shared 
with countries at a similar stage of development, othe rs are related to outdated national laws and 
public administration shortcomings that could be improved. Against this background, Members 
welcomed the Government 's objective, as outlined in its Development Plans, to improve the business 
climate, advance the  investment framework, and diversify the economy. Indeed, many Members 
agreed that an improvement of the business environment was key for diversification of Suriname 's 
economy and an increased participation in international markets. With a view to promote foreign 
investment, Members encouraged Suriname to facilitate the registration of new businesses, minimize 
discretionary decision -making, and make approval processes more transparent and predictable.  
6.4.  Members commended Suriname on the recent implementation  of the Electronic Single Window, 
hoping that this measure would contribute to significantly reduce clearance times and enhance 
transparency in import procedures. They also welcomed Suriname 's accession to the World Customs 
Organization in November 2018. O n tariffs, Members noted that for nearly 600 tariff lines applied 
rates continued to exceed bound rates and encouraged Suriname to successfully conclude 
renegotiations under Article XXVIII in the near future. Some Members also found that there was 
scope fo r Suriname to reduce its applied tariffs.  
6.5.  At the same time, Members expressed concerns that approval and implementation of crucial 
legislation, on issues such as customs procedures, investment, trade facilitation, the VAT, mining, 
competition and intellect ual property, had been pending, sometimes for more than ten years. As 
some of these draft laws had already been in the process of being prepared at the time of its last 
Trade Policy Reviews, in 2013 as well as in 2004, Members urged Suriname to address thi s backlog 
in adopting trade -related legislation. In this context, Members also encouraged Suriname to ratify 
the Trade Facilitation Agreement and to fulfil its notification obligations in the WTO. On WTO 
participation, various Members welcomed Suriname 's plans to consider establishing a Permanent 
Mission in Geneva.  
6.6.  Some other issues were also raised by Members. They included: the ratification of already 
concluded preferential trade agreements; the role of the investment agency InvestSur; the risk 
management  system for imports; plans to introduce legislation on contingency measures; the 
privatization of state -owned enterprises; the participation of women in the economy; sanitary and 
phytosanitary measures on imports; government procurement procedures; the man agement and 
preservation of forest resources; support for MSMEs; and the submission of category B and C 
commitments under the Trade Facilitation Agreement, for which the Minister just provided an 
update.  
6.7.  The above are some of the key issues that had emerge d in our discussion. Once again, I thank 
Minister Tsang, the discussant, and Members for contributing to a very informative and interesting 
Trade Policy Review. I also wish to express my appreciation to the delegation of Suriname for its 
oral and written r esponses during the meeting and recogni ze that, with no Mission in Geneva, the WT/TPR/M/3 91 • Suriname  
 
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  TPR exercise must have been particularly challenging. I hope that the Suriname delegation will take 
into account and further reflect on the important issues and on the many cons tructive comments 
and suggestions that it has received during this Review. Suriname has provided answers to most 
written questions raised by Members. I look forward to receiving the answers to any outstanding 
questions within one month, at which point the Review will be successfully concluded.  
__________