WORLD TRADE  
ORGANIZATION  WT/TPR/M/218 
6 August 2009 
 (09-3828) 
Trade Policy Review Body 
8 and 10 June 2009  
 
 
 
TRADE POLICY REVIEW 
 
GUYANA 
 
Record of the Meeting  
 
Chairperson:  H.E. Mr. Mario Matus (Chile) 
 
 
    P a g e  
 
I. INTRODUCTORY REMARKS BY THE CHAIRPERSON 3 
II. OPENING STATEMENT BY THE REPRESENTATIVE OF GUYANA 4 
III. STATEMENT BY THE DISCUSSANT 8 IV. STATEMENTS BY MEMBERS 11 
V. REPLIES BY THE REPRESENTATIVE OF GUYANA AND ADDITIONAL COMMENTS 28 
VI. CONCLUDING REMARKS BY THE CHAIRPERSON 34 
 
Note:   Advance written questions by WTO Memb ers and the replies provided by Guyana are 
reproduced in document WT/TPR/M/218/Add.1 and will be available online at:  
http://www.wto.org/english/tr atop_e/tpr_e/tp_rep_e.htm.    WT/TPR/M/218 
 Page 3 
 
 
  I. INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1. The second Trade Policy Review of Guyana was held on 8 and 10 July 2009.  
The Chairperson H.E. Mr. Mario Matus (Chile) we lcomed the delegation of Guyana, headed by 
H.E. Mr. Manzoor Nadir, Minister of Labour, and the discussant, H.E. Mr. Norman Harris (Panama).   
2. The Chairperson recalled the purpose of the Trad e Policy Reviews and the main elements of 
the procedures for the meeting.  The report by Guyana was contained in document WT/TPR/G/218 
and that of the WTO Secretariat in WT/TPR/S/218. 
3. Questions by the following delegations had been  submitted in writing at least two weeks in 
advance and had been transmitted to the delegation of Guyana:  Brazil;  India;  the United States;  
Canada;  Japan;  and the Europ ean Communities.  All advance questions, as well as the responses 
received from the delegation of Guyana are reproduced in WT/TPR/M/218/Add.1. 
4. The following delegations had submitted written questions after the two-week deadline:  the 
Republic of Korea, and Mexico.  
5. The Chairperson said that he had read with great  interest the reports prepared by Guyana and 
the Secretariat.  He commended Guyana for its effo rts to encourage investment and economic growth 
since its last review in 2003.  Both the Governme nt and Secretariat Reports touched on the numerous 
legislative reforms which Guyana had undertaken in important trade-related areas:  among them 
investment and competition policy, fiscal policy an d government procurement.   In addition Guyana 
had undertaken practical measures to modernise its s ugar sector, and diversify its exports.  He noted 
that Members would be most interested to hear  about Guyana’s experience in implementing these 
reforms, as well as Guyana’s priorities for future action. 
 WT/TPR/M/218 
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  II. OPENING STATEMENT BY THE REPRESENTATIVE OF GUYANA  
6. I recall when Guyana undertook its first trad e policy review in 2003 – I was coordinating a 
back-up team in capital to support our delegation in Ge neva in October that year.  The decision by the 
Government of Guyana to proceed with that first Review was informed by at least two key factors 
which are also important in the work of the WTO and the conduct of the international trading 
environment: That is a firm commitment to a rules-based and fair multilateral trading system and a 
genuine belief in a transparent and objective appraisal of our trade policy regime in the context of the 
country’s ongoing economic reforms and diversification. 
7. I can reiterate the Government of Guyana’s steadfast embrace of these two key principles in 
the context of this Second Review.  
8. Our continued economic dependence, predominan tly, on a single commodity such as sugar, in 
the light of current global developments, high lights the severe vulnerability a small economy like 
Guyana faces in the global marketplace.  Our experi ence in Guyana is the resolve of every sector of 
the Guyanese community – state and non-sta te - to overcome these challenges.   
9. It is a daunting task to alter this situation in  our favour, but we are determined to make the 
necessary adjustments and to do so in a sensible and pragmatic way. Fu rther, we need the full support 
of our friends and development partners in this  mammoth undertaking.  That is why Guyana has 
consistently worked with like-minded countries to press for an early and successful conclusion of the 
Doha Development Round with a ba lanced development-oriented outcome.  I do stress development, 
because that is what will define the real success of the round. 
SINCE 2003 
 
10. We would have been pleased to be able to re port that all the reforms that my Colleague 
Minister Rohee mentioned in 2003 were working e fficiently and had really made Guyana a signal 
example of reforms advancing the upliftment of our  people.  But while we have some good news to 
report we note that we operate in an environment wh ere many variables are outside of our control.   
CHALLENGES TO GROWTH AND TRADE IN THE REVIEW PERIOD 
 THREATS TO SAFETY AND SECURITY  
11. The period from 2003 to 2008 was one of the wors t periods of violent crime our country had 
ever seen.  This threatened the very fo undations of our fledgling democracy.   
DISASTROUS EFFECTS OF CLIMATE CHANGE 
 
12. As if we are being tested like Job, Guyana in 2005 experienced severe flooding that destroyed 
60% of the GDP.  While not as bad, floods agai n came in 2006 and caused considerable damages to 
our productive sectors.   
EXTERNAL SHOCKS 
 
13. Guyana, then a HIPIC country, also had to f ace the vagaries of the international market 
system.  During some years of the review fuel import costs were as much as 50% of our export revenues.  While the global spike in food prices in 2007/2008 caused considerab le disruptions.  As we 
meet here today, Guyana braces itself for consider able decline in remittanc es as our Diaspora cope 
with meeting the challenges of the Global economic crisis in the developed economies.  WT/TPR/M/218 
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  STAYING THE COURSE AND COMMITMENT TO ECONOMIC REFORM 
 
14. Despite these hurdles, Guyana stayed the cour se of economic reform which Minister Rohee 
referred to in his opening statement in 2003.  I quote,  “The Government of Guyana bit the proverbial 
bullet and took the necessary actions and measures , including the liberalisation of the exchange 
control, trade and payments systems, the removal of price controls, the removal of restrictions on 
capital flows, and reforms in tax policy and tax administration. Structural measures implemented 
included reforms to the financial sector and the judi ciary, modernisation and deepening of the banking 
sector, and an aggressive privatisation programme.”  Unquote. 
15. Most of these reforms have been completed succ essfully.  For example:  the financial sector 
totally in private hands;  Guyana achieved the wi dening of the tax net with the successful introduction 
in 2007 of the value adde d tax;  an Investment Act and a Small Business Act were passed;  Guyana 
has borrowed heavily to finance a now in progress J udicial reform project;  a national competitiveness 
project has already began; and a project through the United States Millennium Challenge Account has 
as one of its goals the reduction of processing time  for imports and exports;  a Competition Act and 
Commission have been put in place;  significant in vestments have gone into the road transportation 
and bridges built linking Guyana with  Brazil and physically linking more than 80 % of our people. 
16. Guyana is committed to building a socially just  market economy that is a player in regional 
and international trade, by deep ening and strengthening these reform. 
17. In his 2009 Budget Presentation, our Finance Minister was very pellucid with his statement to 
this effect.  I quote, “The reforms will be deepen ed and the People of Guyana can be assured that, 
despite the harshness of the external economic environment and despite its inevitable effects 
domestically, our Government will continue to work assiduously to protect the stability of the 
macroeconomic environment that is so necessary  fo r private investment and growth in the economy, 
for the protection and creation of jobs, for the gene ration of incomes, and for the protection of the 
welfare of the most vulnerable. We will continue  to develop our legislative, regulatory, and 
institutional frameworks, so that they remain rele vant to the evolving challenges we face today and 
are likely to face tomorrow.  We will continue to de velop the physical infrastructure that is so critical 
to the transformation of our country, both from th e point of view of its economic impact and its 
impact on quality of life …” unquote. 
NATIONAL COMPETITIVENESS STRATEGY 
 18. A major plank of the government’s reform  programme is to improve the business 
environment of Guyana the “National Competitiveness Strategy”, issued jointly by the Government of 
Guyana and the Private Sector Commission in 2006. As a partnership between the public and private 
sectors, the aim of the strategy is to improve Guyana’s competitiveness in a wide range of areas where improvements will be made over the next few years. 
19. The National Competitiveness Strategy is fi nanced by a US$27 million loan that the 
Government has taken from the IDB,  and covers a large number of sectors of the economy. It is 
composed of three key elements: 
20. Core Policies:  Policies that cut across most sectors of the economy to generate a business-
friendly investment climate and are required to improve the competitiveness of the economy as a 
whole. These include infrastructure, macroeconomic policy, taxation, human services, the curbing of 
red tape, business development services, competiti on and consumer protection policy, investment 
promotion, trade transactions and trade facilitation, trade policy and export promotion WT/TPR/M/218 
Page 6  
 
  21. Sector Policies: Sector strategies to address particular obstacles and opportunities facing 
enterprises within a sector – sugar, rice, forestry, mining and non-traditional sectors. 
22. Strategic Sub-Sector Policies: A focused strategy which targets key points for concentrating 
resources and programmes to selected market driven public goods interventions  that allow promising 
sectors to grow by alleviating bottlenecks across the supply chain.  Such key sectors include:  Eco-
Tourism;  Business Tourism;  Organic Products;  Non-traditional agricultural products, including 
fresh fruit, vegetables and beef;  Contract Manufacturing/Services Exports;  Agro-Processing;  Forest Products;  Aquaculture. 
23. Its implementation is govern by multi-stake holder National Competitiveness Council, which 
is chaired by the President and includes 6 minister s/heads of agencies, 4 private sector leaders and 2 
leaders of organized labour.  
HUMAN RESOURCE DEVELOPMENT  
 
24. As significant as the above improvements and in itiatives are, Guyana sees them as necessary, 
but not sufficient to its competitive participation in the global economy.  Guyana like Jamaica is a 
country that looses one of the highest percentages of its skilled persons, to the developed countries.  
While we appreciate the contributions that their remittances make to economic affairs, we also 
understand the heavy burden their training places on our  scare resources.  Nevertheless, Guyana is 
committing to invest heavily in education and work force training.  Of the national budget, Guyana 
spends close to 15% direct ly in formal education and additional amounts for vocational skills training.  
In this regard, Guyana through the Board of I ndustrial Training is targ eting 2000 to be given 
employable skills to improve productivity and production.  These progra mmes targets youths and 
women.  Among this group are Single Parents Training – primarily women.  
REGIONALISM FREE AND FAIR TRADE 
 
25. Guyana remains committed to the principle of  global trade to capitalize on comparative 
advantages.  We remain committed to lowering barriers to trade .and we remain committed to 
Regionalism.  One must be reminded that as the atte mpt of West Indian Nationhood failed, it was the 
three Bs, - Bird, Barrow and Burnham, representi ng Antigua and Barbuda, Barbados and Guyana, 
who came together to establish the Caribbean Free Trade Area (CARIFTA) the forerunner to the 
present CARICOM.   
26. With the same zest for regionalism we will pursue trade agreements that are free and fair.  As 
our President has raised concerns about the EPA, we will continue to stand on platforms of principles 
rather take positions because expedien cy, during our trade negotiations.  
LOW CARBON DEVELOPMENT STRATEGY 
 
27. The late Guyana’s President Ch eddi Jagan, in the early 1990s called for a New Global Human 
Order – a far reaching vision that the international community paid little head to.  In this decade the 
issue of climate changes surfaces as the single most important challenge to all mankind.  Low lying Guyana and several small island states are literally at  the peril of being wiped out.  Guyana has taken 
the lead in the preparation of a Low Carbon Develo pment Strategy.  Guyana notes that the Director 
General of the International Labour Organizati on, in his 2009 World Environment Day Message 
called for countries to adopt high employment low carbon development strategies.  Guyana seeks the 
support of the WTO and its members to treat  with this new development paradigm.  
  WT/TPR/M/218 
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  IN CONCLUSION 
28. Guyana wants to restate its commitment to  our CARICOM partners  to bring effective 
representation as lead spokesperson in the WTO for th e Region.  We also extend out appreciation and 
thanks to the donor community which not only facilita ted debt write-offs for our  country, but continue 
to provide still desperately need support for our efforts and our people. WT/TPR/M/218 
Page 8  
 
  III. STATEMENT BY THE DISCUSSANT (H.E. Mr. Norman Harris (Panama)) 
 
General Aspects 
 
29. With an area of 215,000 square kilometres a nd a population of about 770,000, Guyana is one 
of the smallest countries in South America. 
30. In many ways it resembles my own country.  Li ke Panama, Guyana is ethnically very diverse 
and Guyanese society includes people of Asian, Indian, African and European descent, who all 
preserve their own customs and traditions.  This di versity has generated a hospitable and extrovert 
environment that extends a welcome to people of every type and every race, culture and religion. 
Economy 
 
31. Since Guyana's last Trade Policy Review in 2003,  its economy has grown at a moderate pace, 
with an annual average real growth rate of 2.8 pe r cent, thanks to various factors which include its 
efforts to reform its investment and tax regimes. 
32. The main economic activities are agriculture and mining.  About 60 per cent of Guyana's 
Gross Domestic Product (GDP) is concentrated on exports of sugar, gold, aluminium industry 
products, shrimps, timber and rice.  Its depende nce on these items leaves Guyana exposed to 
international price fluctuations.  At the same time, agricultural expor ts are liable to be affected by 
adverse weather conditions. 
33. Agriculture's sensitivity to adverse weather cond itions has been apparent since the floods of 
2004 and 2005 which, according to data published by Guyana's Joint Operations Centre
1, affected a 
total of 192,000 residents.  According to the Socio-Economic Assessment of Damages and Losses 
carried out by the Economic Commission for Latin  America and the Caribbean (ECLAC), Guyana 
suffered damages and losses in excess of 10 billion do llars in the agricultural, livestock, fishing and 
forestry sectors.2  Increases in remittances and foreign di rect investment have assisted economic 
recovery. 
34. Guyana has a high level of external public debt .  However, the balance of its debt declined 
significantly during the period under review.  In March 2007, the Inte r-American Development 
Bank (IDB) cancelled 470 million of Guyanese debt under the Multilateral Debt Relief Initiative. 
35. It is important to note that the Government of Guyana is endeavouring to diversify the 
economy and achieve higher economic  growth rates through its Nati onal Development Strategy.  
Hopefully, the present review will pr ovide further details of this initia tive, with particular reference to 
the modernization of the sugar sector and export diversification. 
Integration 
 
36. Guyana has become still further integrated in the world economy, due in part to its 
participation in CARICOM.  This grouping has signed free trade agreements with several 
Latin American countries, namely, Colombia, Costa Rica, Cuba, Dominican Republic and Venezuela.  
Moreover, CARICOM and the Dominican Republic , through CARIFORUM, have negotiated a 
partnership agreement with the European Communities. 
                                                      
1 http://www.usaid.gov/our_work/humanitarian_assistance/disaster_assistance/countries/guyana/. 
2 http://www.undp.org.gy/crisis_prevention.html.  WT/TPR/M/218 
 Page 9 
 
 
  37. Trade with the other Members of CARICO M has proved advantageous for Guyana, 
expanding the export market considerably an d freeing the Government from state-centric 
development policies and models.  The Secretar iat report notes that trade between CARICOM 
Members and Guyana represents approxi mately 25 per cent of total trade. 
38. The headquarters of the CARICOM Secretariat is  located in Guyana, which means that the 
country also plays host to the CARICO M Heads of State Conference whose 30th session, held last 
week3, provided an excellent opportunity to exchange  experience and take decisions on such topical 
issues as the economic crisis, climat e change and human development. 
Trade in Goods 
 39. In 2008, the merchandise trade balance ende d with a deficit of 501.8 million dollars.  
Although the total value of exports increased significantly , there was an even greater rise in the total 
value of imports. 
40. Exports amounted to 798.4 million dollars, an  increase of 14.7 per cent on the previous 
period.  This increase was attribut able to gains in exports of gold, bauxite and rice.  During this 
period, Guyana's biggest export markets were Canada, the United States and the United Kingdom. 
41. Imports grew by 20.6 per cent as compared with  the previous period, amounting to 1.3 billion 
dollars.  This growth can be mainly attributed to  an increase in activities associated with fuels and 
lubricants.  Guyana imported chiefly from the Un ited States, Trinidad and Tobago, and Venezuela. 
42. With regard to cross-border trade and customs procedures, Guyana ranks 113
th in the 
World Bank's "Doing Business" project.4  As compared with the other countries in the region, Guyana 
has fewer formalities and lower impor t and export costs, but the overall process takes more time.  To 
address this problem, Guyana has installed the Total Revenue Integrated Processing System for 
customs management, which includes the acceptance of  customs declarations in electronic form.  
However, this aspect of the system has not yet been implemented. 
43. Guyana requires import licences for a range of  extra-CARICOM products.  Licences for rice 
and sugar are not automatic.  Export licences are al so required for a considerable number of products. 
Services 
 
44. In 2008, services accounted for 50.2 per cent of Guyana's GDP.  The Secretariat report notes 
that the banking system appears sound and that the authorities are taking steps to further strengthen 
supervision and improve financial intermediation.  The telecommunications sector is characterized by 
the existence of a monopoly in fixed telephone ser vices and a duopoly in mobile telephone services.  
The sector's regulatory framework is incomplete  and the Government is hoping to issue new 
legislation by mid-2009. 
45. During the period under review, Guyana's tour ism services balance was in deficit.  
Improvements in the air and land transport infrastru cture could help the country exploit its tourism 
potential and contribute to the development of trade. 
                                                      
3 http://www.caribbeannetnews.co m/news-17455--39-39--.html. 
4 http://espanol.doingbusiness.org/ExploreEconomies/default.aspx?economyid=84. WT/TPR/M/218 
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  Competition and Government Procurement 
 
46. In 2006, Guyana adopted the Competition and Fair Trade Act, which regulates and 
encourages competition in the economy.  However, the full implementation of the Act remains a 
challenge.  In addition, Guyana has adopted a G overnment Procurement Act.  This Act makes open 
tendering mandatory and contains  various provisions for transparency and accountability in 
procurement processes, which represents an im provement over the previous legislation. 
Intellectual Property 
 
47. Guyana could update and improve its intellect ual property legislation.  Guyana has begun 
efforts to reform its regime.  A Copyright Bill reached the drafting stage in 2003 but was never 
enacted.  Various IDB financing and technical  support objectives aimed at strengthening the 
corresponding institutional and lega l framework had not been achieved when the project ended in 
2006.  Guyana is urged to continue improving th e protection of intellectual property rights and 
adapting its laws to the provisions of the TRIPS Agreement. 
FDI 
 
48. We congratulate Guyana on its efforts to attr act foreign direct investment, which have 
resulted in its being ranked 11th in  UNCTAD's Inward FDI Performance Index.  These efforts include 
the passage of the 2004 Investment Act to attract and facilitate investment through a more predictable, 
stable and transparent legal regime.  However, the au thorization of the Minister of Finance to exclude 
sectors from investment, noted by the S ecretariat, gives cause for concern. 
Notifications 
 
49. We observe that one of Members' major con cerns is the lack of notifications by the 
Government of Guyana.  The notifications that have not been made include those concerning the 
enquiry point and measures to ensure implemen tation and administration under the TBT Agreement 
and those concerning contact points and the checklist of issues on enforcement under the TRIPS Agreement. 
50. Moreover, Guyana should notify the WTO of its sanitary and phytosanitary measures.  In its 
report, the Secretariat points out that Guyana has not notified its regulations and that many of them 
are inaccessible and pre-date the WTO.  At the same time, we note the need for more technical 
assistance to enable this ob jective to be achieved. 
51. Guyana has also failed to make any notifica tion concerning state trading enterprises.  The 
Secretariat mentions that two state-owned enterpri ses have exclusive rights to import and export sugar 
and gold. 
52. We understand that many of Guyana's problems with notifications may be linked with the 
lack of resident representation in Geneva and it woul d therefore seem desirable for the Government of 
Guyana to examine the possibility of establishing a Mission for WTO affairs. 
53. This Mission could broaden Guyana's partic ipation in the WTO and in the Doha Round 
negotiations, particularly in relation to it s status as a small and vulnerable economy. 
 
  WT/TPR/M/218 
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  IV. STATEMENTS BY MEMBERS 
BRAZIL 
54. Brazil would like to congratulate Guyana for th e achievements in the area of macroeconomic 
management, trade policy and for the reforms intr oduced in its investment regimes, competition 
policy and government procurement.  We commend Guyana on the recent economic growth – 5,4% in 
2006 and 5,1% in 2007, slowed down to 2.8% in 2008, due to the financial crisis -, which combined 
with low inflation, provides sound macroeconomic c onditions to face the world economic crisis.  The 
outlook for 2009 is still positive, especially in the current international situation of economic crisis:  
GDP growth estimates range from 2,6% to 4,7%. 
55. Guyana bilateral trade with Brazil has been in creasing substantially since 2004, but its value 
is still surprisingly low for two neighbouring countr ies:  it amounted to US$21 million in 2008, with 
Brazilian exports accounting for less the 3% of Guya na’s imports from the world.  The diagnosis for 
this situation in which neighbour countries do no t enjoy the ability to generate trade flows 
commensurate to their potential is widely-known:  infrastructure bottlenecks.  We need more roads 
and air routes, among other possibilities, for us to increase the flow of goods, investments, services 
and people between our countries. 
56. We share Guyana’s view on the importance of Air for Trade and regional cooperation to 
address this question.  As the WTO Director General has mentioned in the II Global Review of Aid for Trade, the job of the WTO is to generate tr ade opportunities and the job of Aid for Trade is to 
make trade happen.  The South American Regi onal Infrastructure Integration Initiative (IIRSA), 
launched in the South American Summit, held in Brazil in 2000 is geared precisely towards making 
trade possible by superseding the lack of integration between infrastructures. 
57. In the case of Guyana, the initia tive has identified a project cluster entitled “Guyana Plateau”, 
as one of its 10 axes of development.  Out of th e 348 projects contained in the initiative, IIRSA 
Ministers have defined a “consensus agenda”, comp rising 31 projects with the highest impact on the 
regional physical integration.  Three of these proj ects will be implemented in Guyana (two highways 
– Bela Vista-Georgetown and Venezuela-Guayana-Su riname – and a bridge over the River Tacutu). 
58. We note that in its government report Guyana emphasized the project of the bridge over River 
Tacutu, which is expected to be open by the end of  this year.  The Brazilian Government attaches high 
importance to that project and will work with Guyana to make it feasible.  This bridge will be very 
important to link the northern region of Brazil to th e towns of Linden and Lethe, in Guyana, and also 
to the capita city Georgetown, and it will boost trad e of rice, minerals, metals, sugar, food products, 
machinery and ethanol, among other pr oducts of our bilateral trade. 
59. With appropriate infrastructure in place, we will be  able to make full use of our bilateral trade 
agreement, also mentioned by Guyana in its report,  through which more than 82% of products can be 
traded duty-free.  Moreover, our joint projects of technical cooperation in the areas of soyabeans, 
sugar and ethanol, among others, will also contri bute to the expansion of bilateral trade. 
60. In the DDA negotiations, Brazil has always wo rked closely to the small, vulnerable 
economies like Guyana to support their position on issues  of their substantive interest.  We share the 
view that the Doha Round should preserve policy space in developing countries while, at the same 
time, open further traditional markets in rich countri es.  We are glad to see that, like Brazil, Guyana 
supports an early and successful conclusion of the Doha Round with a development-oriented 
outcome. 
 WT/TPR/M/218 
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  INDIA 
 
61. Guyana's economy is dominated by the production and processing of primary commodities, 
of which sugar, gold and bauxite are the most impo rtant. The bulk of the population is engaged in 
agriculture in sugar plantations and or rice cultiva tion.  Although sugar and rice continued to be 
important export earners, bauxite and gold share comp arable percentages of national exports. Guyana 
has been hit by global recession as well as management  issues of its economy, particularly its sugar 
sector which contributes 18% to its GDP.  The World Bank while approving Guyana’s 2009-2012 Country Assistance Strategy noted that Guyana has made significant progress in laying the foundations for macroeconomic stability and high er pro-poor growth. It also underscored the 
significance of Guyana’s economic diversificati on through private sector development.  The 
Secretariat report has pointed out that sustaini ng economic growth remains vital, and requires 
continued prudent macroeconomic  policies and strengthened governance.  The 2009 Index on 
Economic Freedom World Rankings released by the Wall Street Journal placed Guyana below Haiti 
when it comes to economic freedom globally.  Th is indicates there is room for improvement in 
implementation of economic and investment policies in Guyana.  It is heartening to note that Minister 
Nadir has reiterated Government’s determinati on to staying the course and economic reforms. 
62. India and Guyana have historic relations a nd presence of the Indian Diaspora there have 
further strengthened friendly and cooperative ties. Bila teral relations are marked  by frequent exchange 
of high-level visits. India and Guyana share par liamentary system of democracy are multi-ethnic and 
multi-religious societies co-existing peacefully enga ged in socio-economic development.  India and 
Guyana have resident missions in respective capitals .  India also maintains an Indian Cultural Centre 
in Georgetown catering to the needs of classical Indian dances, music and yoga. 
63. India-Guyana Joint Commission held its 4
th meeting in May last year in Georgetown. India 
since 1989 has extended 4 lines of credits amountin g to US$203.2 million for facilitating Guyanese 
imports of India projects aimed at creating infrastru cture in the country.  I can’t hold back as keen 
cricketer in the past and now fan, our discussant referred to the 2007 Cricket World Cup held in the 
West Indies.  India assisted financially and tec hnically Guyana in cons truction of a multi-purpose 
stadium. An Indian engineering company recently  won a contract for creating a modern sugar 
packaging facility near Georgetown.  CIPLA, an Indian pharma company has entered into a joint 
venture with New Guyana Pharmaceutical Compan y for production of antiretrovirals and other 
pharma products.  
64. India Guyana trade in 2008 was approximately US$23 million. India’s exports consisted of 
tea, spices, engineering products, leather footwear.  
65. Para 50 of Guyana’s report has identified its ta rgeted Aid for Trade needs, we hope that its 
development partners will come forward and addr ess them adequately with resource commitments 
and technical assistance.  
66. My delegation has posed some questions to Guyana for the Review which are aimed at 
seeking some clarity on economic and commercial po licies and I thank the delegation of Guyana for 
the responses provided this morning.  These will be studied in Delhi and in case there are any 
supplementary queries, we will reve rt to the Guyanese delegation.  
UNITED STATES 
67. We consider Guyana to be a valued hemisphe ric partner.  Since 2001, the United States and 
15 countries of the Caribbean Community (CARICOM) have worked together on the “Third Border 
Initiative.”  The “Initiative” provid es a framework for structuring our  engagement across the broad 
spectrum of matters that affect the pr osperity and well being of the region.  WT/TPR/M/218 
 Page 13 
 
 
  68. As Guyana’s number one trading partner, the Un ited States’ commercial relationship with that 
country remains vibrant and growing.  Our total two-way goods trade during 2008 increased by nearly 
40 percent from 2007.  Though trade between our count ries was down 3% in the first four months of 
2009 (compared to 2008) we are hopeful that as the gl obal economy recovers, our  trading relationship 
will continue to expand.  Approximately 15 per cent of total imports from Guyana enter the United 
States duty free under the Caribbean Basin Initiative.   We would encourage Guyana to take full 
advantage of this program by increasing its utilizati on rate to the greatest extent possible, and we’re 
happy to work with you toward that objective. 
69. We are pleased by the Secretariat’s judgmen t that Guyana’s econom ic performance has 
improved since its last Review in 2003, particularly  as a result of the government’s significant reform 
efforts. Nonetheless, although Guyana has take n measures to improve the country's business 
environment, challenges remain. In 2008, Guyana ranked 105th out of 181 economies analyzed in the 
World Bank's ease of doing business index so further re forms are needed to promote investment.  The 
Secretariat has identified that in its own Report and talked about the need of further strengthening of 
governance and the regulatory environment.”  We agree that such improvements could well serve 
Guyana’s trade and investment objectives.  
70. We had hoped that the government would have made greater strides in implementing its 
WTO commitments since 2003.  We do appreciate that it is more difficult when you have the non-resident status and we certainly hope that we can work together to help Guyana improve its 
implementation of its WTO commitments, and we recognize that AfT and technical assistance is an important of that.   The two areas that I would like to emphazise in terms of Guyana’s compliance are 
national treatment and transparency.  On national treatment the Secretariat’s Report points out the 
major reform of Guyana’s taxation system and that is certainly one of the most significant 
developments during the period under review.  But th ere are instances in which the value a added tax 
is being applied to foreign produc ts but some of the similar or identical domestic products are zero-
rated under the VAT.  That is an area that we woul d be interested in how Guyana plans to address 
that.  We understand also that are certain environm ental taxes where there is the same disparity in 
non-national treatment.  
71. The other area is this question of transparency which is a core element of the WTO.  Greater 
transparency in Guyana's SPS regime would, as the Secretariat observes, benefit both Guyana and its 
trading partners. But Guyana has not notified any SPS measures to the WTO. Most SPS measures, the 
Secretariat observes, are contained in the implem enting regulations of relevant acts, “which are 
largely inaccessible.”  Furthermore, many SPS measur es pre-date the creation of the WTO and have 
not been revised to reflect Guyana’s obligations  as a WTO Member. Moreover, there is no procedure 
for removing measures that are no longer relevant.   
72. Also, Guyana’s customs procedures, are an ar ea where there needs to be more notification 
and particularly under Article 22 of the Customs Va luation Agreement, and the Checklist of Issues.   
73. The third area is technical barriers to trad e and we do commend Guyana for notifying the 
20 technical regulations in force.  That is a mark ed improvement since the last Review, but we know 
however that there are certain important notifications  that still need to be made particularly with 
respect to the implement of the TBT.   
74. And finally I would mention about the two stat e-owned enterprises and notifying them under 
Article XVII of the GATT.   
75. Two other areas of concern are the licensing requirements and the licensing system.  We 
understood in the last Review that there was to be a review of that system in Guyana we hoped that WT/TPR/M/218 
Page 14  
 
  would result in some elimination of products on th e list.  We understand from the Secretariat that 
there has not been a change in that.   
76. Finally, regarding intellectual property rights a number of Guyana’s intellectual property laws 
date back to the colonial period and that the reform  in that area has been limited.  We understand that 
there is however a new law on geographical indicati ons and we would appreciate if that would be 
notified.   
77. In closing, we look forward to continue to wo rk with Guyana both in our regional framework 
but also at the WTO and particularly on the DDA.   
CANADA 
78. Since Guyana's last trade policy review in 2003, the country's economy has grown at an 
average annual rate of 2.6 per cent (4.5 per cent betw een 2006 and 2008).  This growth is attributable, 
inter alia , to the adoption of the Investment and Government Procurement Acts , the implementation 
of the competition legislation, a prudent monetary  policy and major budgetary reforms.  Guyana's 
commitment to economic liberalization is reflected in  an improved climate for investment that offers 
greater transparency and predictability. 
79. Trade relations between Canada and Guyana have been close for a long time and Canada is 
one of Guyana's most important foreign investor s.  Last year, merchandise imports from Guyana 
amounted to about US$211.1 million.  In 2008, Cana dian exports to Guyana represented 26.6 per cent 
of the Guyanese export market, which made Cana da one of the biggest exporters to that 
country. Canada's Maritime Provinces, in particul ar, have close relations with the Guyanese energy 
sector.  In 2009, a delegation of representatives of th e Guyanese Government went to Nova Scotia to 
study that Province's energy model and assess its re levance for Guyana.  Canada is happy to pass on 
its experience and acquaint Guyana with its model practices, and is se eking to invest in the country's 
energy production. 
80. Since Guyana's last review, the establishmen t of the CARICOM single market and economy 
and the signing of the economic partners hip agreement between CARIFORUM and the 
European Communities have borne witness to the cons iderable progress that has been made thanks to 
Guyana's increased integration in the international trading system.  Canada is impatient to begin 
negotiating with CARICOM on substantive issues w ith a view to concluding a bilateral trade 
agreement in the near future.  We would like to  conclude a major trade agreement with CARICOM 
and we are ready to respond to Guyana's developm ent needs.  We will take account of capacity 
constraints and the vulnerabilities associated w ith small countries throughout the negotiations. 
81. We congratulate Guyana on its efforts to improve infrastructure to facilitate foreign 
investment, particularly through such endeavors as the construction of the Berbice River Bridge, and 
projected future projects such as the hydropower plan t in Amalia Falls. However, Canada cannot help 
but note that there are still many areas where im provement is needed. Although Guyana has taken 
steps to liberalize its economy, a long process of  customs clearance and export licensing, ranging 
from 5-7 days, inhibits market access for goods.  Canada hopes to see the implementation of the 
Import/Export Procedures Status Report and Draft Action Plan , released recently by Guyana’s Trade 
Transactions Public Private Dialogue Body, in an  attempt to improve the current situation. 
82. The services sector in Guyana, which accounted fo r the largest share of GDP at 50.2% in 
2008, is another area in which improvements coul d be made.  Since 2006, CARICOM members have 
been given a non-discriminatory right to provide ser vices regardless of their country of origin.  
However, many professional services in Guyana, such as accounting and engineering, remain 
unregulated.  Similarly, Guyana has not undertaken  many revisions to domestic intellectual property  WT/TPR/M/218 
 Page 15 
 
 
  legislation, despite concerns expressed by Members in this regard during its  2003 review.  Canada 
encourages Guyana to set up effective legislative and regulatory arrangements in these sectors, to promote transparency and legal predictability. 
83. Canada appreciates Guyana’s participati on in the Doha negotiations through various 
groupings such as the G33, and looks forward to Guyana’s continued engagement as work progresses 
towards conclusion.  While recognizing the challeng es faced by many smaller economies in adjusting 
to the changed circumstances and taking advantag e of the potential benefits from market access 
opportunities, Canada cannot help but note that Guya na has several outstanding notifications in the 
WTO.  In addition, it has yet to notify the existen ce of two state trading enterprises, the Guyana Sugar 
Corporation and the Guyana Gold Board, or any domestic legislation implementing the TBT and Anti-
Dumping/SCM Agreements .  Canada encourages Guyana to contin ue to support trade liberalization by 
taking a stronger approach to promoting transparency  and market access, by meeting its notification 
obligations and by prioritizing the implementati on of WTO agreements to which it is party. 
84. In closing, Canada would like to acknowledge the positive advances that Guyana has made 
since its last Trade Policy Review, notably in the areas of investment and infrastructure expansion, 
and we encourage Guyana to continue its efforts of economic diversificati on.  Canada’s specific 
interests and issues in relation to Guyana’s trad e policies are addressed in the written questions we 
have submitted, and we look forward to recei ving responses from Guyana and engaging in a 
comprehensive discussion over the review period. 
JAPAN 
85. I would like to begin with economic policy a nd environment in Guyana. Japan welcomes the 
recent improvement in the economic development of  Guyana thanks to several reforms by the 
Government. However, we share the observation by the Secretariat that the development of economic 
infrastructure, particularly in transport and en ergy, is essential for the further and substantial 
prosperity of the Guyanese.  
86. According to the 2006 World Bank Logistics Performance Index, Guyana ranks 141
st out of 
150 countries. The Secretariat’s report also draws our  attention to this issue, stating that high 
transportation costs associated with the incapability of  Guyana’s ports are a particular concern for the 
bauxite industry. Investment in this area woul d increase the competitiveness and efficiency of 
Guyana’s economy. In this regard, Japan notes that  the construction of the bridges and the upgrading 
of roads are expected to enhance tr ade with neighbouring countries.  
87. Improvement in the electricity supply also would serve a basis for the development of 
industries. The Secretariat’s report points out this ch allenge in electricity supply in terms of cost, 
efficiency, and reliability. Due to this situation, private companies are compelled to equip themselves 
with their own generators. The Government of Guya na has rightly undertaken the development of the 
first hydroelectric plant to be completed by 2013 , making the most of Guyana’s natural resources.  
88. Japan welcomes these efforts by the Government  of Guyana to provide a basis for business, 
which would promote economic growth in Guyana. 
89. With respect to trade policies, Japan notes that Guyana is one of the original members of the 
WTO. However, we regret that a number of notifi cations have not been submitted. Japan would like 
to encourage Guyana to comply with notificatio n obligations to maintain the transparency of 
Guyanese policies and institutions among Members. 
90. With respect to the sectoral development polici es, Japan is pleased to note reforms by Guyana 
in the agriculture sector, which is the largest e xporting industry in Guyana. In anticipation of the WT/TPR/M/218 
Page 16  
 
  termination of this preferential treatment with EC this year, the Government of Guyana has initiated a 
modernization project for sugar manufactures to im prove their productivity. As for rice, another 
important agricultural product in Guyana, the Gove rnment has been investing in water works and 
irrigation systems with the help of external donors.  Furthermore, the Government aims at promoting 
the export of non-traditional agricultural products, such as vegetables and fruits, which has been 
rapidly growing by 10-12 % annually. Japan believes that these measures will lead  Guyana to a strong 
exporting economy, and benefiting the importing c ountries as well. We hope that Guyana will 
continue such efforts to improve the produc tivity and diversity of agricultural products.  
91. As for another major exporting product, baux ite, we also hope that Guyana can develop a 
refinement industry for alumina or aluminium in the future, making the most of this resource to create 
employment and more value-a dded products for export.  
92. In conclusion, Japan would like to reiterate its hope that Guyana will continue its efforts to 
improve in infrastructures as well as the productiviti es and diversities of export products, in order to 
benefit from the multilateral trading system.  
EUROPEAN COMMUNITIES 
93. Guyana manages a small, open economy with a domestic market limited by a very modest 
population.  The report notes that Guyana's economic performance has improved since its last TPR in 2003, mainly driven by high prices for Guyana's ma in exports and reform efforts. Two reforms are 
worth mentioning here: the tax reform, which introd uced the VAT in 2007, at a general rate of 16% 
(replacing six different taxes previously levied);  and the new Procurement Act, which contains 
mandatory open tendering and vari ous provisions for transparency and accountability in procurement 
processes, and which represents a significant improvement over the previous legislation. The EC encourages Guyana to continue making progress in  duly implementing and advancing its reform 
programme, which would certainly yi eld additional benefits to Guyana , especially if the principles of 
transparency and non-discrimination are well-respected.  
94. We note that Guyana's integration in the worl d economy has deepened in recent years, and 
trade continues to be the backbone of the econom y, representing 170% of its GDP in 2007. Its key 
exports, though, continue to be concentrated on fe w primary products, such as gold, sugar, bauxite 
and rice. Guyana underlines in its report that expandi ng exports to new markets is a key priority. In 
order to achieve this objective, Guyana needs to  ensure that export procedures do not hinder the 
competitiveness and smooth flow of its exports. Theref ore, Guyana may want to reconsider the need 
to impose export licenses and export taxes in a wide range of products. Furthermore, we would like to 
encourage Guyana to continue making further pr ogress in streamlining its customs procedures, in 
particular, with a view to reducing clearance times.  
95. The effective implementation of comprehensiv e competition policy legislation is also an 
important step further towards the sound functioning of  its markets, in particular given its small size 
and high concentration of the domestic market. Th e EC fully acknowledges that the small size and 
narrow economic base of SVE's like Guyana makes them suffer from diseconomies of scale, which 
alongside human capital constraints and transport ch allenges, are deterrents for further progress. In 
order to overcome these difficulties, developing  economic activities that are not dependent on these 
factors – particularly in services – is essential. A nd so are regional integration and the creation of 
genuine regional markets to create economies of scale.  In this context, we would like to stress the 
necessity to continue making progress in the consolida tion of Caribbean regional integration which is 
instrumental for the economic prosperity of the regi on. The advances in this area are encouraging. We 
wish to stress in this context the importance th at the CARIFORUM-EC EPA will play in supporting 
the Caribbean integration process.  WT/TPR/M/218 
 Page 17 
 
 
  96. In light of the content of the reports prepared for today's meeting, we note that there are some 
areas where further improvements to Guyana's polic ies and practices could be to its own benefit and 
that of other WTO Members. We have submitte d detailed questions on a number of measures and 
look forward to the replies. So just three brief points now: 
97. The first issue concerns WTO notifications. The report notes that Guyana is significantly 
lagging behind in its notification ob ligations. This lack of transparency requires urgent government 
action. We encourage Guyana to step up efforts to carry out this basic but important WTO commitment, which would notably increase the transp arency and predictability of its trade regime. 
98. My next point refers to SPS measures and it is also  directly related to the transparency deficit 
I was just mentioning. Guyana has not notified an y SPS measures to the WTO and related regulations 
are not easily retrievable. We acknowledge on-going  steps taken in order to develop a regional SPS 
regime within CARICOM. We urge Guyana to work  towards that objective in a transparent fashion, 
since a greater transparency in its SPS regime would be of benefit both to Gu yana and all its trading 
partners.  
99. I would also like to note that the EC is already responding to Guyana's calls for assistance in 
this field.  In the framework of its support to the implementation of the EPA and regional integration 
schemes of the Caribbean region, the EC under the 9
th European Development Fund is currently 
providing assistance in the area of policy formulation,  legislation, and training as well as laboratory 
assessments via the CARICOM Secretariat.  
100. My third point relates to intellectual property ri ghts. The Secretariat's report notes that since 
2003 legislative reform has been limited in this fiel d. We note, however, that Guyana adopted a new 
law on geographical indications in 2005, even if th is law has unfortunately not been notified to WTO 
so far. In this regard, we invite Guyana to share with all us the steps undertaken in this endeavour, as 
well as on the implementation of the provisions  of the TRIPs Agreement more broadly.  
JAMAICA 
101. Both reports before us today hi ghlight the continuing efforts of the Guyanese government at 
major structural reforms, including the implemen tation of a wide range of institutional and policy 
changes aimed at modernising its economy, enhanc ing the country’s international competitiveness 
and improving the legal and regulatory framework.  While there have been gains from these measures, 
including strengthened economic performance, thes e reforms are being undertaken in the face of 
domestic challenges resulting from inherent structural  constraints which make it vulnerable to both 
external shocks, such as the current global economic and financial crises, and natural disasters, such 
as the floods in 2005. 
102. Jamaica commends Guyana on its improved ec onomic performance, particularly during the 
period 2006-2008 when GDP expanded at an average real  rate of 4.5%.  As indicated in both reports, 
this was attributable to a favourable external e nvironment, including high commodity prices, the 
availability of financing capital and sound macro-ec onomic policies.  The Guyanese authorities have 
realised positive economic outcomes, such as containi ng inflation, the introducing of the VAT and the 
modernization of the tax system, a reduction of th e fiscal deficit from 13.7% of GDP in 2005 to 7.8% 
in 2008, a reduction of the foreign debt by 57%  between 2003 and 2008 due to debt relief by the 
international community.  The authorities also ach ieved an improvement in the business environment 
and continued investment in key sectors of the economy. 
103. As a small economy, Guyana is among the most open economies in the Caribbean region with 
a trade to GDP ratio increasing to 170% in 2007.  G uyana is a net importer with imports equivalent to 
around 100% of GDP.  These figures point to the fact that Guyana is highly inserted into the global WT/TPR/M/218 
Page 18  
 
  economy.  Sugar, rice and mining have traditionally been the main pillars of the Guyanese economy.  
Two of these products, sugar and rice, are threatened w ith the inevitability of preference erosion. It is 
a credit to the efforts of the Guyanese authorities that this reliance on these three products has been 
reduced somewhat over recent years.  This has stemmed largely from a need to diversify the 
Guyanese economy from traditional products to non-trad itional exports in order to reduce its external 
vulnerability. Non-traditional agricu ltural sub-sectors, fisheries, tourism, manufacturing, alternative 
energy and information technology have been iden tified as future growth sectors. Guyana recognises 
the importance of the services sector, particularly tourism, telecommunications and information technology, to their economy and has undertaken  reforms in these areas to encourage foreign 
investment and to enhance growth opportunities.  Other sectors, such as energy and transport, have 
been identified as requiring investment to facilita te infrastructural development and to underpin 
diversification efforts, particularly in certain  non-traditional sectors, such as agro-processing.   
104. Guyana and its CARICOM partners are fully aware of the severe negative impact that the 
current global economic downturn could have on future development prospects of the region, 
particularly given the high level of reliance on the ex ternal sector in all CARICOM countries.  It is in 
this context that CARICOM leaders have established a 5-member Global Crisis Task Force to develop 
responses to the impact of the crisis on the CARICO M region.  The task force is to be headed by 
President Bharrat Jagdeo of Guyana. 
105. Although a non-resident delegation, Guyana participates in the WTO through its membership 
in regional or issue groupings, such as the SVE and ACP Groups and the G-33.  Within the context of 
the proposals and positions taken by these groupings, Gu yana has maintained the position that a more 
positive response is needed in terms of enhanced flexibilities, special and differential treatment, the 
recognition of the need for policy space and the need for careful management of the pace of 
liberalization to ensure orderly adjustment by its local industries and sectors and to minimize economic and social dislocation.  Both reports  emphasise the importance Guyana places on the Aid 
for Trade initiative to support its capacity in trade.  At the 2
nd Global Review on Aid for Trade which 
concluded yesterday, CARICOM identified a number of priority areas for the region which should be 
addressed with the context of the Aid for Trade initiative.  These include  competitiveness, private 
sector development and network infrastructure.     
106. Regionalism is a key component of Guyana’s  trade policy.  As a CARICOM member, 
Guyana’s trade policy is determined by its ri ghts and obligations under the revised Treaty of 
Chaguaramas and, as such, its external trade po licy is widely coordinated within CARICOM, 
including external trade negotiations with thir d countries.  Guyana is party to the CARICOM 
agreements with countries in Latin America a nd the Caribbean including the Dominican Republic, 
Cuba, Venezuela, Costa Rica and Colombia.  Guyana  is also among the parties to the CARIFORUM-
EC Economic Partnership Agreement (EPA) which has changed the trade relationship between the 
CARIFORUM countries and the EC from one largel y based on non-reciprocal preferential access to 
one based on asymmetrical reciprocal access.  These  trade agreements will serve to diversify export 
markets, build competitiveness, and facilitate adjustment and effective participation in the global 
economy. 
107. Given the ties of history and our participation in a common regional organization, Jamaica 
and Guyana have deep bilateral relations in the economic, political, social and trade spheres.  Our 
trade relations with Guyana have expanded over the l ast few years, with total trade increasing by more 
than 60% during the period 2003-2008.  Jamaica is a growing export market for products from 
Guyana, such as rice, frozen fish and shrimp and our  main exports to Guyana include light petroleum 
distillates, juice mixtures and malt extracts.  As the regional integration process deepens, the 
collaborative efforts between our countries will grow as we combine efforts to  ensure each other’s 
survival in the world economy.      WT/TPR/M/218 
 Page 19 
 
 
  108. In concluding, Jamaica congratulates Guyana fo r continuing its reforms aimed at making its 
economy more competitive and viable. 
CHINA 
109. Guyana was the first English speaking Caribbean country to establish diplomatic ties with the 
People’s Republic of China. Our countries have been enjoying long friendly relationship ever since. 
All kinds of exchanges including high level visits are rather frequent. The most recent one took place 
in September 2008 when President Jagdeo visite d China and attended the Second World Economic 
Forum Summer Davos in Tianjin. Also during th is visit, the tenth Joint Economic and Trade 
Commission between China and Guyana was held, resulting in the signing of various economic and 
technological cooperation agreements. China very mu ch appreciates that Guya na recognized the full 
market economy status of China in December 2004. 
110. Trade between China and Guyana has been de veloping substantially since 1990s. Main 
exports of Guyana are wood and wood products, while  China mainly exports base metal products and 
textiles and clothing. According to Chinese custom s, bilateral trade in 2008 reached 87 million US 
dollars, representing an increase of 4% over 2007. Howe ver, due to the international financial crisis, 
in the first five months of 2009, our trade only amounted to 24.5 million US dollars, down by 19.1% 
on yearly basis. 
111. Chinese enterprises started contracted project s in Guyana since 1986. As of May 2009, 
Chinese enterprises have signed labor service and design consulting contracts in Guyana worth 
150 million US dollars with the real turnover of 226 m illion US dollars. Direct investment of China in 
Guyana reached 68.6 million US dollars as of March this year. China has cancelled debt of Guyana on 
several occasions and has provided economic aid to Guyana within our ability. We would be more 
than happy to provide technical assi stance in table tennis if needed. 
112. China commends Guyana for choosing an open economic and reform policy and 
congratulates Guyana for its achievements since the first review. 
COLOMBIA 
113. In recent years, Guyana's economy has recorded hi gh rates of growth (more than 4 per cent on 
average since 2006).  If these growth rates were  maintained, Guyana's economic and social 
development would receive a sharp boost and, in pa rticular, the low income level would be raised. 
114. However, these results are linked with the high prices currently obtainable for the primary 
products, such as sugar, rice and gold, that make up the country's production and export base and the 
trend in the prices of these products could easily change, to the detriment of economic stability. 
115. At the same time, the growing deficit on cu rrent account has been mainly offset by a 
significant increase in transfers.  Considering the impact of the financial crisis on the global economy, this item may be expected to decline, with  implications for Guyana's import capacity. 
116. It follows that Guyana should endeavour to diversify its economy and incorporate more value 
added into its production.  This would provide it with  a greater capacity to abso rb external shocks.  In 
this respect, its trade and investment policies are tool s that could help it overcome the shortcomings of 
its economy. 
117. Where foreign trade is concerned, it is par ticularly important that there should be an 
improvement in customs clearance procedures, whic h can take up to a week to complete.  With WT/TPR/M/218 
Page 20  
 
  respect to export activity, measures such as the re quirement of licences for a large number of products 
and the imposition of a 1.5 per cent tax act as disincentives. 
118. Trade is also adversely affected by the lack  of a transparent and modernized sanitary and 
phytosanitary regime.  It is not clear how the sanitary system operates and we WTO Members are unaware of any notifica tion in this field. 
119. With regard to investment, it is recognized that  progress has recently b een considerable.  In 
2004, Guyana passed the Investment Act which, with some exceptions, grants investors MFN and 
national treatment and makes the regime more transparent and predictable. 
120. However, for the new investment regime to  be sufficiently attractive, it should be 
supplemented by a complete updating of the intell ectual property legislation, particularly in 
conformity with the TRIPS Agreement. 
121. Trade between Colombia and Guyana remains at  a low level, but we can see opportunities for 
improving trade links. 
DOMINICAN REPUBLIC 
122. Guyana has an economy which, though small a nd vulnerable, is notable for being open and 
strongly oriented towards the achievement of its national trade policy, investment and development 
objectives.  Internally, it is to be commended for th e work being done jointly by the public and private 
sectors, which is characterized by a continuing dialogue, the establishment of a "National Competitiveness Strategy" and the reform progra mme to improve Guyana's business environment 
initiated jointly by the Government of Guyana  and the Private Sector Commission in 2006. 
123. Externally, Guyana has an interest in broadeni ng its trade relations a nd its participation in 
world trade, whence the importance being assigned to the diversification of its economy and its 
agricultural production, in order to win new market s while ensuring food security.  It continues to 
participate actively in the Doha Round negotia tions both through the Small and Vulnerable 
Economies group and as a CARICOM Member, always taking the position that these negotiations should provide the opportunities and flexibilities to en able economies such as its own to adapt in a 
timely and appropriate fashion to the general libera lization of markets, while maintaining that the 
changing situation for its principa l products due to preference erosion in some of its main export 
markets should be taken into account. 
124. Guyana has indicated its requirements for aid fo r trade in order to develop its economic and 
transport infrastructure and thus expand its trade and improve its integration into the regional and 
world economy.  It has expressed interest in having Guyanese enterprises and producers obtain 
targeted support to enhance export-production capabilities and competitiveness in commodities, 
manufactures and services sectors with a strong poten tial, including through diversification into 
alternative exports, as well as to facilitate entry into new markets. 
125. Where taxation is concerned, Guyana is facing a fiscal deficit which, according to the report, 
is still significant.  However, we note the work be ing done by its economic team to help reduce the 
deficit, as evidenced by the d ecrease from 13.7 per cent to 7.9 per cent of GDP between 2005 and 
2008.  The reduction of the external debt by 57 per cent and the reform of the tax system, with a VAT 
of 16 per cent, are also noteworthy. 
126. The Dominican Republic welcomes the projects which Guyana has in hand to improve the 
situation with respect to power generation and di stribution, the potential for the production and export 
of non-traditional produc ts, and the development of other sect ors such as aquaculture, as well as the  WT/TPR/M/218 
 Page 21 
 
 
  prospects for the information and communication ser vices sector and the exploration of new areas in 
tourism.  This requires certain internal actions a nd reforms to be taken into account to achieve the 
desired progress and a more extensive respon se to requests made for aid for trade. 
127. Finally, we encourage Guyana to expand its  trade strategies and earnings through greater 
compliance with its WTO commitments with respect to , for example:  the application of the sanitary 
and phytosanitary notification transparency mechan ism;  the notification concerning state trading 
enterprises under the terms of Article XVII of the GATT 1994;  the improvement of its customs procedures;  and the protection of intellectual pr operty rights, with the reform of the relevant 
legislation. 
BARBADOS 
128. Our shared geographic and regional single ma rket space-the Caribbean Single Market and 
Economy (CSME), allows Barbados to fully appreciat e the challenges confronting Guyana as a small, 
vulnerable economy. We therefore congratulate Guyana on the favourable economic and trade 
performance achieved during the period under revi ew through sound macroeconomic policies and a 
prudent monetary policy that has facilitated  a decreasing fiscal deficit. Notwithstanding these 
progressive elements, Guyana’s GDP per capita re mains low at just over US$1,500, and living 
standards have been reported to be the second lowest in the Caribbean Community (CARICOM).  
This demonstrates the complex and multi-dimensi onal lens from which the problems of small, 
vulnerable economies must be viewed. 
129. In 2007, Guyana was the 11
th ranked source of imports into Barbados and 8th in destinations 
of domestic exports. Barbados’ trade with Guyana h as been characterized by a trade balance in their 
favour. This imbalance peaked at BDS$23.6 million in 2006 and in 2008 stood at BDS$11.58 million.  
Imports from Guyana are now dominated by a de mand for edible molasses, which was ranked 8th in 
2005.   Barbados’ primary exports to this market include building cement, plastic bags and printed 
paper labels. 
130. During the review period, the increasing importance of trade to the Guyanese economy has 
been verified with its trade to GDP ratio reachi ng some 170% in 2007. While agriculture remains the 
most important sector, significant efforts have been underway to increase and diversify non-agricultural exports, particularly through value adde d products. This diversification has largely been 
triggered as a result of the ongoing loss of preferential access for its major agricultural exports. 
131. The importance of agriculture for the region ma y be recognised not only in economic terms, 
but as an expression of a distinctive Caribbean wa y of life. The general decline of traditional 
agricultural industries, particularly due to pref erence erosion and the impact on the sustainable 
livelihood and economy of the Guyanese pe ople, remains of paramount concern. 
132. A number of other important changes have been  made to the Guyanese trade regime since 
2003, such as  the modernisation of its tax system, throug h the introduction of a Value Added Tax 
(VAT), which has already been noted by the G overnment authorities as having a positive effect, 
including through a reduction of reliance on border taxes. 
133. Barbados supports the steps being put in place to enhance the legislative and institutional 
frameworks necessary to create a more favourab le environment for trade, investment and 
development. Notable measures in this respec t include the recent adoption of a new law on 
competition policy, adoption of a new Act and regu lations on government pr ocurement as well as 
enactment of legislation on investment; the latter noted by the Secretariat to provide for more 
transparency and legal predictability in Guyana’s investment regime. WT/TPR/M/218 
Page 22  
 
  134. We also recognise the significant reduction of foreign debt realised by Guyana during the 
review period, which has facilita ted their improved economic position,  and has underscored the value 
of debt relief schemes by the in ternational community. We hope th at such schemes continue during 
this difficult time of global recession. 
135. It is noteworthy that the strategic financ ial policy initiatives implemented by Government 
have thus far allowed Guyana’s fi nancial sector to be relatively insulated from the worst effects of the 
current financial crisis.  Nonetheless, the stru ctural openness of the economy, high dependence on 
foreign investment and remittances from abroad, reduced demand for key commodity exports, and 
susceptibility to negative climate impa cts, further exacerbate Guyana’s vulnerability to the vagaries of 
the international economic system. The progress attain ed by Guyana over the past 6 years can all too 
easily be undermined if, as the Secretariat has re marked, the “pace of disbursements from multilateral 
and bilateral creditors slows down as a r esult of the world financial crisis”.  
136. The recently concluded Second Global Review on Aid for Trade has further reinforced the 
importance of assured and predictable funding for economies such as our own. Barbados shares 
Guyana’s assessment of Aid for Trade as a critical , additional mechanism that can help address 
supply-side constraints, enhance export competitiven ess, and facilitate adjustment challenges arising 
from multilateral trade liberalisation. 
137. Guyana as a founding Member of CARICOM continues to play an active and leading role in 
the regional integration process, particularly as curre nt Chairman of CARICOM.  In addition to the 
various regional bilateral free trade agreements to  which Guyana is party, including the recently 
signed CARIFORUM- EC Economic Partnership Agreement (EPA) a nd other longstanding trading 
arrangements, Guyana has actively been expanding its bilateral trading a rrangements with a number 
of developing partners and has been seeking clo ser trading relations with its bordering South 
American neighbours. A major prohibitive factor to th is latter initiative has been the lack of transport 
infrastructure, which Guyana is keen to further develop as a key area of investment and economic 
opportunity.  
138. As low-lying coastal countries and island na tions among the most vulnerable to climate 
change, Barbados fully supports the steps taken by Gu yana to mitigate the negative impacts of climate 
change and the identified initiatives for expansio n of environmental services opportunities.  We 
consider that these actions could be complementar y to the Government’s efforts to become more 
energy efficient through environmentally sound sources, such as hydropower and wind power.  
139. In spite of its non-resident status and the relate d difficulties, Guyana nevertheless participates 
actively in the Doha negotiations, and closely alig ns with the positions of other CARICOM and SVE 
Members taken in a number of negotiating areas, including agriculture and fisheries subsidies. Guyana has identified some sectoral and other trad e related areas in which they will need technical 
assistance. We urge that these calls be answ ered in timely and sustainable manner.   
140. It is important to re-state that for small,  vulnerable economies like ours, the support of the 
international community will be critical in prom oting our sustainable development and avoiding 
devastating financial dislocation. From a regional perspective, we w ould therefore look forward to an 
outcome from the Doha negotiations that will deliver  specific and effective trade related responses to 
our needs. 
ST. LUCIA ON BEHALF OF THE OECS 
141. 
Guyana, similar to most other CARICOM member States face acute challenges as a result of 
high levels on external debt, preference-dependence, and structural rigidities in the private sector that 
constrain industrial consolidati on and expansion.  This notwithst anding, Guyana, has proven itself  WT/TPR/M/218 
 Page 23 
 
 
  resilient, if not exemplary, in managing the myri ad of issues that Small Vulnerable Economies 
confront. 
142. From our observations, it is clear that even while pursuing challenging national public policy 
objectives, Guyana has taken steps towards ensu ring compliance with obligations pursuant to 
membership in the WTO, the OECS congratulates Guyana in this regard. 
143. It is much commendable that even in the face of daunting domestic challenges and a looming 
global economic and financial crisis, the economy of Guyana in 2008 registered a 3% annualized rate 
of expansion.  Remarkably, notwithstanding th e deepening of the global recession and the grim 
economic outlook across most major markets, Guyana may yet witness further expansion in 2009. 
144. Until recently, the Government of Guyana was ju ggling a sizable external debt against the 
urgent need for expanded public investment.  Lo w prices for key mining and agricultural commodities 
combined with troubles in the bauxite and sugar industries had threatened the government’s fiscal 
position.  These challenges notwithstanding, the Guyanese economy has rebounded, exhibiting 
moderate economic growth due to the expansion in the agricultural and mining sectors. 
145. Guyana has pursued reforms and modernizati on programmes which further strengthens its 
mid to long term prospects for growth.  Of note is  the rigorous pursuit of fiscal reform, particularly 
the overhaul of the tax code in 2007.  These reforms set the basis for the implementation of the Value 
Added Tax which replaced six different taxes previ ously levied.  These bold initiatives coupled with 
fiscal consolidation and prudent fiscal management has set the state for medium term growth. 
146. The IMF’ Executive Board in its Article IV consultation with Guyana reflected the following 
upbeat observations in its public information notice issued on 19 May 2009:  “Despite external shocks 
and social pressures, macroeconomic stability was preserved in 2008.  Growth decelerated to about 
3% owing to a sharp shortfall in sugar production, by the end of 2008, inflation declined to 6.4% 
(6.8% target).  The fiscal deficit widened to 7.9% of GDP (6% target) due to measures adopted in early 2008 to reduce the impact of high fuel prices, most of which have since been eliminated.  Higher 
growth is projected for 2009, with a recovery in sugar output expected to offset a slowdown in the 
other sectors of the economy.  Lower oil import prices would compensate a decline in commodity 
export prices in 2009.  Still, Guyana faces othe r significant challenges, including lower worker 
remittances in 2009 and the possible loss of prefer ential sugar export prices in the years ahead”. 
147. The Member States of the OECS and indeed CARICOM face many of the same structural 
challenges faced by Guyana and commend the effort s of the Government of Guyana for the progress 
made even in the face of both internal and exogenous challenges.  As acknowledged by the 
Honourable Minister, much work has been done and much remains to be done. 
148. In concluding the delegation of the OECS on behalf of its member States congratulates 
Guyana for the meaningful progress made on domestic  reforms, its enhanced fiscal position since its 
last TPR and its leadership role n the issue of climate change. 
HONDURAS 
149. We are pleased to note in the Secretariat report th at, thanks to its efforts to implement reforms 
in various sectors and the high prices of its main e xport products, Guyana has been able to improve its 
economic results, with 2.8 per cent grow th during the period from 2003 to 2008. 
150. At multilateral level, we observe with satisfac tion that Guyana has become more integrated 
into the world economy and that its participati on reached 170 per cent in 2007.  Its trade policy 
priorities are preferences and special and differentia l treatment, which form a fundamental part of the WT/TPR/M/218 
Page 24  
 
  DDA negotiations.  Where aid for trade is concer ned, Guyana considers assistance with the 
development of the economic infrastructure, especi ally the transport infrastructure, to be of 
fundamental importance. 
151. On market access, we urge the Guyanese au thorities to continue the reforms relating, 
inter alia , to customs procedures and the system of sanitary and phytosanitary measures in order to 
facilitate trade, while noting that technical assi stance is the key to achieving these reforms. 
152. We also note that Guyana has reformed the tax system and adopted a competition law and a 
new Government Procurement Act, together with its regulations. 
SEPARATE CUSTOMS TERRITORY OF TAIWAN, PENGHU, KINMEN AND MATSU 
153. Since Guyana’s previous review in 2003 , the global economic climate has changed 
dramatically, due especially to the recent financial crisis, and all of us must now struggle with the 
current economic downturn until the recovery comes.  From the reports of both the government and 
the Secretariat, we were pleased to learn that Guyana’s economic performance actually managed to improve between 2003 and 2008, with the economy growi ng by an average of 2.8 percent each year.   
154. We welcome the reforms undertaken by Guyana in areas such as its tax and investment 
regimes, competition policy and gove rnment procurement.  We believe  all these efforts have made 
real contributions to its positiv e economic performance.  However, it does seem that further domestic 
policy reform is going to be required in the economic infrastructure and in its governance and 
regulatory regimes, such as customs procedures, SPS, fiscal incentives and IPR, if the growth is to be 
sustained.  
155. As far as the trade ties between our two economi es are concerned, the total value of two-way 
trade in 2008 amounted to just 6.73 million US dollars.  Although this may not seem a very 
impressive amount at the moment, for us, it strongly highlights the potential for expanding trade in the 
future.  If we can identify our particular needs and concentrate on certain complementary trading 
sectors between our two economies, Mr. Chairman, I am  sure we can turn the potential into reality.  
This is one of the reasons why my delegation always  tries to participate actively in the Trade Policy 
Review Mechanism, because we gain a better un derstanding of the trade policies, practices and 
regulatory framework of our fellow-Members, and discover new trade possibilities as well.  
156. The fact, that Guyana’s economy depends so heavily on the export of primary products, such 
as sugar, rice, gold and bauxite, and that its imports  equate to approximately 100% of GDP, reflects 
the vulnerable nature of its economy, especially in the current financial crisis.  My delegation would 
therefore encourage Guyana to engage actively in the Doha Round of Negotiations in order to secure 
as soon as possible the commitments of  the so-called “Doha Development Agenda”, to the benefit of 
all LDCs and developing country Members. 
TRINIDAD AND TOBAGO 
157. Guyana is a foundation member of the Cari bbean Community and an important trading 
partner for Trinidad and Tobago.  The Reports highlig ht the fact that Guyana has made notable strides 
in economic performance over the review period, with especially strong growth of 4.5% over the 
period 2006-2008, within the context of an annual rate of 2.8%  between 2003 -2008. 
158. What emerges from the Secretariat’s analysis  is the Government’s unwavering focus on 
creating a macro-economic environment conducive to promoting economic growth led by the private 
sector, and to achieve this at relatively low inflation rates.  This massive shift in policy in relation to 
the interventionist philosophy of development th at preceded it over several decades, has paid   WT/TPR/M/218 
 Page 25 
 
 
  calculable dividends in terms of the inflow of capital, both FDI and grant aid, to the country.  
Moreover, the adoption of a value added tax by the Guyanese authorities in 2007 has made an important contribution to strengt hening government finances.  
159. Trinidad and Tobago understands that these reform s represent a work in progress, and in that 
regard, welcomes Minister Nadir’s declaration of  the Government’s commitment to maintain and 
deepen them. While other hurdles remain to be cr ossed, Guyana’s encouraging economic performance 
reflects increased confidence, on the part of both th e Investment and Donor Communities, in course of 
deeper global integration on which the country has so  firmly set itself, anchored in a prudent mix of 
fiscal and monetary policies. 
160. The Government clearly recognizes the imperatives of economic diversification and in that 
context, the critical importance of trade in the country’s long term econom ic development.  The 
numbers demonstrate that Guyana successfully intens ified its integration into the global economy 
over the review period, through increasing its trade to GDP ratio from 139% in 2003 to 170 % in 2007, with exports representing an average of 43% of  total trade and growing in value by 66 % over 
the referenced period.  While there was a deficit in the merchandise trade account due to the faster 
relative growth of imports, significant inflows of remittances and grant funds provided a more than 
comfortable cover for the trade gap.     
161. Despite the well known structural impediments th at affect Small and Vulnerable Economies, 
it is heartening to learn that GDP per capita increased by a whopping 59% between 2003 and 2008, 
reflecting robust private capital inflows averaging 45% annually over the same period.  In this 
context, Guyana’s ranking at 11
th in UNCTAD’s FDI performance index over the period 2005 – 2007 
is impressive and, we hope, will show furthe r improvements as capital recognizes and seizes the 
immense untapped business potential of the Guya nese economy, once the global economy recovers. 
162. With the commendable support of its Internationa l Development Partners, Guyana was able to 
pay down on its external public debt to a level where central government debt stood at around 101% 
of GDP at the end of 2008.  Having itself in an earlier period demonstrated its commitment to the 
development of Guyana as a member of the Caribbean Community by providing debt relief to it, 
Trinidad and Tobago welcomes this development an d   hopes that the positive developmental impact 
created by recent debt forgiveness will encourage the mobilization of similar increased flows, 
including in the area of Aid for Trade. 
163. While there were some notable changes in the direction of trade over the review  period, 
marked by  the phenomenal growth of Asia in Guyana ’s global trade, it is partly a reflection of the 
success of the common market that CARICOM’s share remained constant at approximately 25 %.  It 
is a matter of great satisfaction to  my delegation that in 2007, Trinidad and Tobago shared with the 
United States the position of being Guyana’s main su ppliers of imports,(25.1%) and I might add, that 
even as we speak, work  is proceeding on  the cons truction of an aluminum  smelter in Trinidad and 
Tobago, on the basis of a plan to source the iron ore feedstock, from Guyana and from other sources 
within the Caribbean Community; the idea being, to  generate increased exports from Guyana in order 
to achieve a more equitable distribution of  intra-re gional trade. Conceivably, by the time of Guyana’s 
next Trade Policy Review, a dramatic increase in e xports to Trinidad and Tobago would be a feature 
of its export statistics as well as a substantial im provement in the value of its global trade. 
164. The Secretariat’s analysis estimates the size of the informal sector as being roughly equivalent 
to 30% of GDP.  It is not clear whether this sta tistic captures the fact that a portion of that income 
stream is generated by a brisk info rmal trade conducted in Trinidad and Tobago by itinerant Guyanese 
traders.  It may well be, therefore, that the inform al sector is even larger than is reflected in the 
estimates and by virtue of the important role that  it plays in household income and poverty reduction WT/TPR/M/218 
Page 26  
 
  in Guyana, and indeed in the Caribbean economy as a whole, should be the subject of empirical study 
to better quantify its contribu tion to overall economic activity. 
165. Trinidad and Tobago applauds and congratul ates the Government of Guyana for its 
achievements in restoring its economy to a path of  low inflation growth and looks forward to the 
further strengthening of its collaboration, within th e framework of CARICOM, to secure a future of 
sustained and shared progress and prosperity fo r all the peoples of our Caribbean Community. 
HAITI 
166. During the period 2003-2008 Guyana improved its economic performa nce and between 2006 
and 2008 its GDP recorded particularly robust growth, expanding at an average real rate of 4.5 per cent.  Sugar and rice production, together with mining, continue to be Guyana's main economic 
activities, generating almost a quarter of its GDP. 
167. Exports are concentrated on a few primary prod ucts, notably gold, sugar, bauxite and rice.  
Imports are of great importance for supplying the dom estic market and are equi valent to about 100 per 
cent of GDP. 
168. The international financial cris is is having only a limited impact on Guyana's economy.  
However, it has slowed growth (3 per cent), while inflation has fallen (9 per cent).  Because of the 
recession in the United States, Guyana has experi enced a significant decline in transfers from 
emigrants.  The public finances have received a boost from debt relief under a multilateral initiative.  
External debt fell by almost a third in one year to the equivalent of only 66 per cent of GDP.  Activity was maintained by the enlargement of the Sheldon sugar factory and the construction of a bridge at Berbice.  The new factory should make it possible to double sugar production this year. 
169. At bilateral level, the Republic of Haiti a nd Guyana maintain close relations within 
CARICOM.  Many Haitians live in Guyana and ma ke a not inconsiderable contribution to the 
Guyanese economy. 
170. At multilateral level, as a result of its non-reside nt status, Guyana is having great difficulty in 
ensuring its participation in the World Trade Organization and a number of notifications are 
outstanding. 
171. Preferences and special and differential treatme nt are among Guyana's main priorities in the 
negotiations being conducted within the fra mework of the Doha Development Agenda. 
NIGERIA 
 
172. Nigeria is pleased to note from the Secretariat Report that since its last Review in 2003, 
Guyana has improved its economic performance, with  GDP recording particularly robust growth 
during 2006-08, when it expanded at an average real rate of 4.5%. This reflects a favourable external 
environment; particularly high prices for Guyana's main exports and abundant  financing capital, as 
well as sound macroeconomic policies have su ccessfully kept inflation in check.  
173. However, in 2008, total consumption exceed ed 100% of GDP; this is because Guyana 
consumes more than it produces and is, therefore, dependent on foreign savings. For this reason, 
domestic demand, in particular priv ate consumption, could be weakened if the pace of disbursements 
from multilateral and bilateral creditors slowed down as a result of the world financial crisis being 
experienced. It would be interesting to know what measures Guyana is taking to ensure that the pace 
of disbursements from the multilateral and b ilateral creditors is not slowed down.  WT/TPR/M/218 
 Page 27 
 
 
  174. During the period under review, there has been  a concrete devel opment regarding the 
adoption of new law on geographical indications a nd Copyright. Can the delegation of Guyana share 
the elements of the law on geographical indicati ons? The Report also indicates that compulsory 
licensees are expressly prohibited from importing goods  into Guyana that w ould infringe on a patent 
if the import is made by persons other than the pa tentee. It would be interesting to know how Guyana 
would use the provisions contained in the Doha Mi nisterial Declaration on TRIPS and Public Health 
in situations of public health emergency.  
 WT/TPR/M/218 
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  V. REPLIES BY THE REPRESENTATIVE OF GUYANA AND ADDITIONAL 
COMMENTS 
Effects of the global financial crisis;  current account deficit;  fiscal deficit 
 
175. We are all concerned about the financial crisis , and some members asked us how Guyana is 
affected by it. Guyana is not isolated from the fi nancial crisis. It affects us through several channels: 
Job losses occurred in some industries and are also affecting overseas Guyanese, which may lead to a 
reduction in remittances, though until now it appear s that remittances have been rather stable.  
176. The Government is closely monitoring the actual flows of transfers from abroad to determine 
appropriate policy interventions as may be required. At this time, no significant distortion has been 
observed in the level of transfers from abroad. 
177. The crisis has affected some of our exports  and could increase the current account deficit 
further. Indeed, the current account deficit is a con cern for us, but it also reflects the high inflow of 
remittances and should therefore not  be seen as a problem per se.  
178. Guyana has reduced its fiscal deficit significantly  during the review period. As stated in the 
Government report, the fiscal deficit fell from 13. 7% of GDP to 7.9% in 2008. The government 
continues to apply a policy of prudent expenditure  and is further modernizing the tax system to 
address the fiscal deficit, which is also part of the National Competitiveness Strategy, a major 
initiative that we started in 2006. The NCS impl ementation unit has done a commendable work since 
the start of the initiative and is currently working on a wide range of issues.  
179. The high expectation for this programme is underscored by the high-level of joint 
involvement by government and private sector. 
Investment Act;  measures to promote investment in infrastructure 
180. We received a number of questions related to our investment framework. I believe that we 
have shown that our investment framework show s our commitment to make Guyana open for 
investments. The possibility that the Minister of Finance could exclude a specific sector from foreign 
investments seems to have caused some concerns. Ho wever, this measure has never been applied and 
is subject to parliamentary oversight. In additi on, Guyana has a dedicated government agency to 
support both foreign and domestic investors, the Guyana Office for Investment – "Go-Invest".  
New trade agreements envisaged and expansion of existing;  non-resident status;  
WTO notifications 
181. As a member of CARICOM, Guyana is committed to enhancing its market access 
opportunities with its major trade partners, such as Canada and the United States and with countries 
with which bilateral trade agreements already exis t. Guyana will also continue to pursue trade 
strategies and physical integration projects that  would enable it to expand trade and economic 
cooperation with neighbouring Brazil a nd other South American partners. 
182. Regarding the non-resident status here at the WTO, we are looking at ways to optimize our 
interaction with Geneva. This could include the opening of a mission in Geneva, the feasibility of 
which will be further examined.  The Government  has also taken steps during the review period to 
strengthen its Brussels based Mission which is accredited to the WTO.  
  WT/TPR/M/218 
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  Notifications 
183. A large number of questions related to outsta nding notifications was raised, and I can assure 
you that Guyana has taken serious note of this.  We have commenced work in Georgetown to 
complete all outstanding notifications as soon as  possible.  Where necessary we will seek the 
appropriate support from the WTO Secretariat a nd others to assist us in this matter.  
Customs procedures and documentation 
184. We received some questions on customs procedur es. I do not want to repeat the answers at 
this point. A major initiative, led by the impl ementation unit of the National Competitiveness 
Strategy, is currently underway to rectify bottlen ecks and other problems related to import and export 
procedures and trade transaction measures in th e customs. The targeted outcome of the 
implementation of the Action Plan is to reduce th e time taken to “getting through customs” from the 
reported 5-7 days to one working day.  
Applied tariffs higher than bound tariffs 
185. A few items in our tariff schedule have been  identified as having applied rates above the 
bound rates. We will correct these di screpancies as soon as possible.  
Import prohibitions and licensing;  future legislation on contingency measures 
186. We were asked about import licensing and whethe r we are planning to introduce legislation 
for contingency measures. As we stated in our  written answer, The licensing system remains under 
constant review and is currently part of a compre hensive review of the customs and trade facilitation 
measures, both in terms of the procedures and lis t of products, under the public-private National 
Competitiveness Strategy. 
Discriminatory application of VAT and environmental levy 
187. Certain characteristics of our application of VAT and the environmental levy have led to 
questions by a few members, and these matters have  also been discussed at the level of CARICOM. 
Both issues are currently under review.  
Formulation, implementation and transparen cy of technical regulations and SPS measures 
188. Regarding our SPS and TBT regimes, we agree th at further work has to be undertaken to 
improve the transparency of our technical regulati ons and SPS measures. We agree that this will not 
only be of help to our trade partners, but also to  Guyana. The government will therefore continue to 
work on that and will seek support from the WTO Secretariat and others, where necessary and 
appropriate.  
Intellectual Property 
189. Several questions were asked rela ted to intellectual property rights. Guyana is aware that its 
IP legislation should be reformed, and such reform s are under way. As already stated in our answers 
to members, the preparation of a new Copyright Bi ll is in an advanced stage, as well as an overall 
review of Guyana's IP legislation.  
190. Referring to the enquiry from Nigeria's represen tative, the Guyana Geographical Indications 
Act was enacted in 2005. It came into force on June 1st 2008. We will make a copy available.  WT/TPR/M/218 
Page 30  
 
  iii. Sectoral Policies 
191. Agriculture is a major economic sector in Guya na.  I want to briefly emphasize two trade-
related aspects of it, which were also  mentioned in member's questions:   
Agriculture:  preference erosion;  modernization of sugar industry 
192. Preference erosion is Guyana's major concern in the Doha round negotiations.  The affected 
industries are mainly sugar and rice – for exports to the EU market, and garments for exports to the 
US. Guyana's sugar industry, which is the bac kbone of our economy, is undergoing a modernization 
programme. In addition to the 36% reduction in the EU sugar price, which will take full effect in 
October of this year, we are also deeply con cerned that the outcome of the Doha round could 
prejudice even further price cuts in the EU market .  This could have dramatic economic and social 
effects for Guyana.  
Mining and energy, oil, gold, biofuel  
193. We received a number of questions related to mining, the gold board, petroleum prospecting 
and the electricity sector and we believe that we have answered these questions in sufficient detail. 
But let me add that Guyana's mining industry is open for foreign investment, and in fact a lot of the 
larger mining operations are driven by FDI. Biofuel could be a viable option for Guyana in the future. 
However, it is the Government's position that bi ofuel should not lead to a reduction of food 
production, and neither should it be a threat to our forest resources.  We also need to look at the 
economics of it.  
Financial services:  banking licences 
194. A few members had asked about the issuance of banking licences.  The Bank of Guyana has 
not stopped the issuance of such licences.  In fact , half of the six major banks are foreign banks, 
which shows that the financial sector is open to foreign investors.  
Telecommunications:  status of new regulatio n and its conformity with Reference Paper;  
competition and renewal of monopoly licence  
195. The telecommunication sector was addressed in a number of questions. The sector has 
undergone substantial changes. We now have two co mpetitors for mobile services, which has led to 
improvements in services and prices. It is the ai m of the government of Guyana to introduce 
competition into the whole communication sector, incl . international transmissions. Negotiations are 
ongoing with the Guyana Telephone and Telegr aph Company (GT&T), on that matter.   
196. As this second TPR comes to an end Guyana  will focus immediately on the many areas 
identified in the TPR for which policy action will be necessary by the authorities.  I can give a firm 
commitment that we will do so.   
197. It seems to me, however, that Guyana could be nefit from an early technical intervention from 
the Secretariat, in the next months to help us in Georgetown to follow up with these matters.  This I 
wish to request as I signal the Guyana's inten tion to proceed with the greatest diligence. 
DISCUSSANT 
198. In his statement, Minister Nadir mentioned a series of problems faced by Guyana in 
consolidating its development plans.  The probl ems mentioned include the crime wave during the  WT/TPR/M/218 
 Page 31 
 
 
  period 2003 to 2008, adverse weat her conditions and the external environment resulting from the 
financial economic crisis. 
Integration in the World Economy 
 
199. Despite these problems, Guyana is a country that  is continuing to progress with its integration 
into the world economy.  Through its particip ation in CARIFORUM and CARICOM, Guyana has 
signed several agreements with its trading partners , the most recent being the Economic Partnership 
Agreement between CARIFORUM and the European Communities.  Other countries such as Canada 
are already interested in examining substantive issu es with CARICOM with a view to the conclusion 
of a future trade agreement.  Several delegations , including the delegations of Brazil, Colombia and 
Chinese Taipei, have expressed interest in promo ting trade, viewing Guyana as a potential trading 
partner. 
Stability and Economic Growth 
 
200. Moreover, Guyana is making efforts to ensu re its stability and ec onomic growth through 
export diversification and improved competitiven ess.  The Agricultural Export Diversification 
Programme will be the key to achieving these objectives,  by promoting the creation of clusters and by 
strengthening non-traditional agricultural exports. 
201. Likewise, the National Competitiveness Strategy, with the support of the Guyana Office for 
Investment (GO-Invest), will be essential fo r creating a climate that encourages business and 
investment through policies aimed at improving infr astructure, human services, consumer protection, 
etc. 
202. The United States Ambassador has pointed out that only 15 per cent of total imports from 
Guyana entered the United States market duty-free un der the Caribbean Basin Initiative.  Hopefully, 
the above-mentioned programmes will result in th e strengthening of preferential access to such 
important markets across the board. 
Trade Policies and Practices 
 
203. Many countries stressed the efforts that Guyana  has made to improve its trade policies and 
practices through the reform of its tax regime , its Investment Act and its legislation on 
competitiveness.  However, countries warned that these reforms should be accompanied by 
transparency within the multilateral context.  Th e delegation of Guyana, in its written answers, 
indicated its intention to complete all the pending notifications during 2010.  We urge Guyana to 
complete these notifications as soon as possible. 
Answers 
 
204. Guyana has responded to many of the concerns expressed by Members in its written answers.  
Hopefully, the proposed efforts with regard to notif ications will soon lead to concrete results.  The 
future establishment of an agency for the preparation of new laws and the modernization of existing 
ones in the area of sanitary an d phytosanitary measures will provide Members with greater 
predictability when exporting their agricultural products to Guyana. 
205. With regard to customs procedures, an acti on plan, prepared by a subgroup of the National 
Competitiveness Council, offers the prospect of a reduction in the time requi red to import and export 
goods. 
 WT/TPR/M/218 
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  GUYANA 
206. Regarding the global financial cr isis we have been preparing ourselves in Guyana for two 
main impacts from the crisis.  One was a reduction in remittances which constitutes a significant part 
of the income for Guyana.  Many of you would have seen a significant difference between our export 
revenues and what we have to spend on merchandise  imports, and much of that shortfall comes from 
remittances.  The second issue for Guyana in terms of  financial crisis is the collapse of the largest 
insurance company in the Caribbean, the Colonial Life Insuranc e Co. and with the collapse of that 
insurance company the Government of Guyana ha d, like some many countries around the world, to 
provide some guarantees and reassure the depositors, while insurance just comprises 0.001% of our 
financial services. 
207. Guyana has been very fortunate in the area of investment as Guyana ranks 11
th in terms of 
FDI.  
208. One matter was raised by many countries and that  was the ability of the Minister of Finance 
to establish special conditions for certain sectors.  We want to assure that many countries would have 
very similar provisions.  We want to assure WTO Members that our investment policies are 
concerned we have always maintained the very even  plain field for investors, we may not distinction 
between foreign and local investors, what is ava ilable to the investment dollar from Malaysia is 
equally available to the investment dollars from Honduras, etc.  Guyana’s investment regime is 
transparent, open, even and fair. 
209. When it comes to trade agreements Guyana has a challenge.  We know the responsibilities 
that we have with respect of what we are saying in the WTO.   
210. Guyana remains very committed to the issue of the mutilateral trading system.  We have been 
in the fora of the CARICOM Movement, we have b een engaged in many other negotiations, many of 
which we do not like some of the terms because the i ssue of reciprocity is always a very challenging 
and sometimes vexing one to deal with.  But overa rching is this issue of the WTO and the trade 
agreements that we signed, and I think that whatev er we do the WTO stands as the one reference point 
where we need to ensure that what we do regi onally complies with our commitments at the global 
level.  Guyana sees expanding trade with our neighbours as also very important.   
211. Notifications have been a big issue and I feel ve ry confident that we will comply with this in 
2010.  Many of the notifications issues come b ecause of poor interagency cooperation at home.  
Admitting this is not that I am saying weakness in the infrastructure in Guyana, but sometimes in small countries with so many issues coming before you at one time and not having the technical staff 
to deal with them. 
212. In terms of customs procedures we see a cons iderable amount of room for improvement, and 
let me assure that that improvement is already happe ning.  Ninety percent of the imports into Guyana 
currently are cleared within four working days.   
213. We have had concerns about the possible di scriminatory aspects of the value-added tax 
application and also the imposition of our environmental levy.  Guyana did not see it as 
discriminatory both of these but we have comm itted to ensuring that we will review the 
implementation of some aspects of the VAT and our environmental levy.   
214. IPRs have been raised, this has been a piece of legislation that has been engaged in our 
attention and it continues to be one of our priority  pieces of legislation for Parliament.  The problem 
that we had is because of the high incidence of  crime we have had to prioritize our security  WT/TPR/M/218 
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  legislation.  And in the last 36 months it has been  considerable CARICOM initiatives in respect to the 
issue of legislation on crime.  And these have occupied the priority position in Government.  
215. We are concerned about the erosion of the prefer ential treatment for several of our products, 
where sugar is concerned we have 15% of Guyana ’s work force directly dependant on an income 
from sugar production and export.  
216. We have done a lot of work and if we can  raise the single most important significant 
commitment to Guyana continuing to strengthening  and deepen the reforms. I want to once again 
reemphasize Guyana borrowed US$27 million to finance a competitiveness programme. 
UNITED STATES 
217. We have no follow-up questions and we encourage by the commitment expressed by Guyana 
in the areas of transparency and fulfilment of  WTO obligations, and we look forward to seeing 
progress on Guyana’s track record on WTO notifications in the near future. WT/TPR/M/218 
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  VI. CONCLUDING REMARKS BY THE CHAIRPERSON 
218. I should like to sincerely thank Minister Nadir and his team for their constructive engagement 
in this second Trade Policy Review of Guyana.  The discussions on Wednesday and today have been 
most informative and interesting.  We now ha ve a much better understanding of Guyana's trade 
policies and practices, its future priorities and key ec onomic challenges.  I should also like to thank 
the Discussant, Ambassador Norman Harris, for his perceptive observations and reflections and 
Members of the TPRB for their valuable  contributions during these two days. 
219. The efforts of Guyana to maintain economic grow th and attract investment have been widely 
commended by Members.  As have the numerous reforms that Guyana has undertaken in areas such as fiscal policy, government procurement, inve stment and competition policy.  It has been 
highlighted, however, that important challenges re main, among them the devel opment of the country's 
infrastructure to trade as well as improvements to th e regulatory environment.  Members encouraged 
Guyana to continue along the path of furt her liberalisation and tr ade-related reforms. 
220. Members acknowledged the financial and instituti onal constraints that Guyana faces, its 
vulnerability to external shocks and its reliance on the export of a narrow range of commodities.  
Members applauded Guyana's efforts to diversif y production and exports into non-traditional areas 
and to reform its sugar sector to cope with ch anging market access conditions.  However, they also 
pointed out that there were areas where improvement s were still needed.  In this respect, Guyana 
noted that a review of customs and trade facilita tion measures was already in progress, and that 
resources were being dedicated to establishing an  agency that would upgrade SPS regulations. 
221. Members recognized that Guyana's non-resident status made its participation in the WTO 
challenging, but urged Guyana to give greater prio rity to fully implementing its WTO commitments.  
Notifications were outstanding in a large number of  areas and the resulting lack of transparency was 
neither in the interest of Guyana nor of its trad ing partners.  Some Members underscored the need to 
address any discriminatory elements in the applicati on of the value-added and environmental taxes.  
Concern was also expressed about Guyana's licensing system, and broken tariff bindings.  In addition 
Members indicated their strong desire for Guyana  to implement its commitments under the TRIPS 
agreement.  Guyana engaged to review the app lication of internal taxes in light of its WTO 
obligations, and to correct the tariff discrepancies a nd complete all outstanding notifications in 2010. 
222. In response to questions regarding the telecommunication sector, Guyana explained that it 
intended to enhance competition in the sector , including by granting multiple licences for 
international traffic, and introduc ing new legislation that would conform to the WTO Reference Paper 
on telecommunications.  Replying to questions on professional services, Guyana informed that 
CARICOM is currently developing model legisla tions to harmonize the provision of professional 
services in the region.  
223. Minister Nadir both in his opening statement and this morning highlighted Guyana's firm 
commitment to a rules-based and fair multilateral tr ading system, as well as to an early conclusion to 
the Doha Development Agenda.  Minister Nadir,  WTO Members very much appreciate this firm 
expression of support.  I hope that  you will convey to your Governme nt the equally strong messages 
of encouragement and support, incl uding offers of technical assistance, to Guyana that have been 
repeated by Members during the course of this meeting. 
224. This morning Minister Nadir recalled two of th e cornerstones of this institution, firstly the 
principle of non-discrimination, and secondly the fact that trade has been, it is, and will continue to be 
an essential element of development and growth.  WT/TPR/M/218 
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  225. I would like to close this meeting by thanki ng, once again, the Discussant and the Members 
who took part in this meeting for contributing to an  informative review.  I would also like to thank the 
Guyanese delegation for addressing all the written questions posed by Members. 
226. We hope Guyana will continue to improve in th e struggle for development to fulfil its motto:  
"one people, one nation, one destiny". 
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