RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/TPR/G/218 
3 June 2009  
 
(09-2575) 
Trade Policy Review Body Original: English 
   
 
  
 
TRADE POLICY REVIEW 
 
Report by 
 
GUYANA 
 
  
 
Pursuant to the Agreement Establishi ng the Trade Policy Review Mechanism 
(Annex 3 of the Marrakesh Agreement Establishing the World Trade 
Organization), the policy statement by Guyana is attached. 
 
 
Note: This report is subject to restricted circ ulation and press embargo until the end of the first 
 session of the meeting of the Trade Policy Review Body on Guyana. Guyana WT/TPR/G/218 
 Page 3 
 
 
CONTENTS 
 
 Page 
I. INTRODUCTION 5 
II. ECONOMIC POLICY ENVIRONMENT 5 III. TRADE POLICY DEVELOPMENTS 7 
IV. MULTILATERAL TRADE RELATIONS 10 
V. FUTURE POLICY DIRECTIONS:  OPPORTUNITIES AND CHALLENGES 12 
 
 
  Guyana WT/TPR/G/218 
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I. INTRODUCTION 
1. Guyana welcomes this second Trade Policy Review  (TPR) by the Trade Policy Review Body.  
The Government of Guyana very much appreciated  the fruitful consultations with WTO Secretariat 
staff during the preparations of the TPR. 
2. Guyana is a very open economy and its support for a transparent, rules-based, multilateral 
trading system is unambiguous.  As a small, vulne rable economy, Guyana currently relies heavily on 
the export of a narrow – but expanding – range of pr oducts, while a wider variet y of products have to 
be imported.  A significant share of the country’s exports depend on preferential market access.  The 
ongoing loss of value of such preferential access is a ma jor concern, in particular for sugar which is 
the country’s dominant export earner. 
3. One of the major developments in Guyana’s tr ade agenda during the period under review was 
the negotiation of a WTO-compatible Econo mic Partnership Agreement (EPA) between 
CARIFORUM member states (CARICOM and the Dominican Republic) and the European Communities during 2004-2007.  That Agreement provi des for substantial liberalization of market 
access for both goods and services and replaces the non-reciprocal preferential trade arrangements 
which existed previously under the LOME and Cotonou Conventions. 
4. Regional integration in the Caribbean Comm unity (CARICOM) also deepened since 2003 
with the establishment of the CARICOM Single Market in 2006 and ongoing work towards the 
completion of the Single Economy by 2015.  CARICOM established the Caribbean Court of Justice (CCJ) in 2006 and the CARICOM Competition Commission in 2008. 
II. ECONOMIC POLICY ENVIRONMENT 
5. Guyana’s overall economic performance since th e last review has been favourable.  The 
Government continued measures to improve th e overall business climate.  Macroeconomic 
performance was also influenced by a generally fa vourable international environment and increased 
confidence by both local and international investor s in the Guyanese economy.  Average real growth 
was at 2.8% per year during the entire review period, though average growth would have been 
significantly higher absent the negative effects of ma jor floods in the coastland areas in 2005.  Guyana 
successfully hosted the 2007 Cricket World Cup and other major events, which also resulted in 
increased long-term investments, notably in the services and tourism sectors. 
6. In 2006 the sugar industry commenced a majo r modernization programme to cope with 
reduced prices in the EU market and increased competition.  While non-traditional agricultural 
exports – not including rice and sugar – play a relatively minor role in terms of economic 
contribution, these exports have seen hi gh growth during the review period.  
(i) Fiscal policy 
7. The Government continues to apply a fiscal polic y that is geared towards long-term stability 
and growth.  The introduction of a value-added ta x (VAT) in 2007 was a major step towards a more 
modern tax system.  It helped to widen the tax base and resulted in higher revenues than initially 
expected.  Although a significant fiscal deficit re mains, there has been an overall downward trend. 
Since 2005, the fiscal deficit fell fro m 13.7% of GDP to 7.9% in 2008.
1 
                                                      
1 National Budget 2009, p.16 WT/TPR/G/218 Trade Policy Review 
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8. A major achievement during the review period was a significant reduction of foreign debt, 
which can be attributed mainly to different de bt relief schemes by the international community. 
External debt fell by 57% during the review period.   The Government remains firm on the need for 
greater access to concessional financing as a key com ponent of its strategy for debt management and 
sustainable financing of the country’s development agenda. 
9. The Central Bank has maintained a low inflation rate during the review period.  Inflation only 
peaked in 2005 and 2007, mainly due to one-off events  such as increased pri ces caused by the floods 
in 2005, and an overall increase in commodity pri ces on the world market in 2007, together with the 
introduction of the VAT.  The exchange rate has rema ined relatively stable during the review period. 
10. The Government continues its reform progra mme to improve the business environment of 
Guyana.  One notable achievement is the “Nationa l Competitiveness Strategy”, issued jointly by the 
Government of Guyana and the Private Sector Co mmission in 2006.  As a partnership between the 
public and private sector, 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 years.2 
11. Additionally, Guyana is open to foreign invest ments.  Guyana has consistently been ranked 
very high in UNCTAD’s FDI performance index: For the period 2005-2007, Guyana was ranked 11th 
in the “Inward FDI Performance Index”.  The G overnment actively supports potential investors 
through the “Guyana Office for Investment” (GO-Invest).3  Significant investments have been made 
during the review period in all major sectors; howev er, the Government is seeking to widen the spread 
of investments in new areas such  as agriculture, agro-industry, information technology and tourism 
development. 
(ii) The global financial crisis 
12. The current financial crisis will affect the ec onomic performance of Guyana, even though the 
crisis wholly originated outside of Guyana.  In an  initial region-wide assessment it is estimated that 
the impact on the Caribbean as a whole could be very severe because of the high degree of insertion in the global economy, with an average trade/GDP ratio of 70% and a high dependency on foreign 
investment.
4 
13. The Guyanese economy will be impacted in various ways.  A weaker economic performance 
in North America and the tourism sector in th e Caribbean, can negatively affect remittances from 
overseas Guyanese.  Prices for key commodity expo rts have also fallen since the beginning of the 
crisis, notably for rice and bauxite.  There are indi cations that foreign investments into the bauxite 
sector may be postponed.  On the other hand, the crisis has led to a reduced demand and therefore 
lower prices for certain imports, in particular oil products, which is favourable for Guyana. 
14. Guyana’s financial institutions have proven to be  stable and have remained largely unaffected 
by the financial crisis, with a few exceptions.  Th is can also be attributed to a number of policy 
initiatives that have been undertaken over the last  years to modernize the financial sector.  Stability 
and soundness of the financial syst em and an appropriate system of supervision by the authorities 
have always been the main priority for the Government. 
                                                      
2 See http://www.summit.org.gy/summ it.html for more information. 
3 See http://www.goinvest.gov.gy/ for more information. 
4 See “Initial Assessment of the Impact on the Caribbean Community of the Global Economic and 
Financial Crisis” (CARICOM Secretariat, March 30, 2009) for more details. Guyana WT/TPR/G/218 
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(iii) Infrastructure development 
15. The modernization and development of the country ’s infrastructure is key to transforming the 
landscape for economic development.  The Gove rnment has emphasised the expansion of the 
country’s physical infrastructure, including maintenance of newly upgraded infrastructure, both 
through public investment and strategic partnerships. 
16. Major infrastructure projects have been complete d during the review period, the most notable 
being the construction of the Berbice River bridge at a total cost of US$40 million and funded through 
a public-private partnership.  This represents the fi rst time that private financing was mobilised to 
fund a large public infrastructure project in Guyana .  It is a major national achievement given the 
critical infrastructure gap.  The bridge improves li nks between Berbice, a major centre for agricultural 
production, and the rest of the country and can al so facilitate trade and commerce with neighbouring 
Suriname.  Also notable are the construc tion of the Providence Cricket Stadium. 
17. In addition, trade ties with Brazil are expect ed to improve upon the upgrading of an all-
weather road link from the mining town of Linden to  Lethem which borders the Brazilian State of 
Roraima.  Also, through collaboration and partners hip with Guyana’s southern neighbour, Brazil, a 
bridge across the Takutu River, linking the Guya nese border town Lethem with the Brazilian town 
Bonfim, has been completed and will be formally opened to Guyana-Brazil road traffic in 2009.  
Hinterland roads have been upgraded to im prove access to and trade with communities. 
18. Together, the Linden-Lethem road link, the Ta kutu Bridge, the Berbice River Bridge, and the 
Canawaima Ferry which connects Guyana and Surina me, substantially improve Guyana’s transport 
infrastructure and interconnectivity with its mainland  neighbours.  They, thereby, further strengthen 
its continental integration process,  and open new economic opportunities. 
III. TRADE POLICY DEVELOPMENTS 
(i) Trade policy 
19. Trade is very important for Guyana.  With  imports and exports accounting for around 170% 
of GDP, the importance of trade and trade policy cannot be overemphasised. 
20. As a member of the Caribbean Community  (CARICOM) Guyana’s trade policy is 
underpinned by the country’s rights and obligations  under the Revised Treaty of Chaguaramas.  In 
this regard also, Guyana’s external trade policy is widely coordinated within CARICOM, including 
external trade negotiations with third countries. 
21. Coordination of Guyana’s trade policy is the res ponsibility of the Ministry of Foreign Affairs, 
Foreign Trade and International Cooperation.5  Despite budgetary constraints and a limited number of 
trade staff, the ministry has proven its capability to  deal with complex trade policy matters, such as 
the recently concluded Economic Partnership Agreem ent with the European Union.  The ministry 
leads a National Advisory Committee for Extern al Negotiations (NACEN) which involves major 
public-private stakeholders and ensures their par ticipation in trade policy matters.  The NACEN is 
chaired by the Minister. 
22. Guyana applies a liberal trade policy.  Even though applied tariffs are relatively high when 
using a simple average (12%), and also relatively high for unprocessed products used as inputs in the 
                                                      
5 The Ministry of Foreign Affairs merged with the former Ministry of Foreign Trade and International 
Cooperation in early 2009. WT/TPR/G/218 Trade Policy Review 
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industry, tariffs are significantly lower from a trade- weighted perspective.  Also, Guyana as well as 
other CARICOM members have well-established mech anisms in place that allow for the waiver of 
tariff duties on inputs.  Such waivers are granted on  a very regular basis and the system is well-known 
and predictable for local producers.  Therefore, taxati on of inputs is in practice relatively low.  Certain 
locally or regionally produced items do enjoy so me amount of tariff protection from extra-regional 
imports, in particular agricultural products.  Guyana only uses ad-valorem  tariffs and does not use any 
import quotas, which demonstrates the country’s commi tment to having a trade policy that puts strong 
limits on trade-distorting measures. 
23. Trade taxes are not a major source of revenue  for the Government’s budget, which also 
reflects Guyana’s commitment to an open, market-b ased trade regime.  Internal reforms such as the 
introduction of the VAT in 2007 have helped Guyana  to significantly streamline tax administration, 
strengthen the tax base and reduce the reliance on border taxes. 
(ii) Trade performance 
24. Guyana has seen a strong export growth during the period under review.  Expanded 
production of traditional and non-trad itional products and favourable world market prices for key 
commodities are largely responsible for this perform ance.  Imports have grown as well, and Guyana 
continues to have a significant trade deficit.  Th is indeed also reflects a significant inflow of 
remittances from abroad and should not be seen as a problem per se. 
25. Some diversification of export destinations has o ccurred in the last five  years, with increased 
exports to non-traditional export markets, such as Ch ina.  In the same way, more and more imports 
are sourced in new markets, notably China, India and Brazil.  Expanding exports to new markets is a 
key priority for Guyana.  Currently, most exports still go to a small number of countries and are often 
driven by preferential market access, as it is the case for sugar and rice. 
26. There is still relatively little trade with Guyana ’s neighbouring countries, with the exception 
of oil imports from Venezuela.  Further investments in physical infrastructure have to be made to 
enable trade on a larger scale. 
(iii) Preferential market access and free trade agreements 
27. Guyana is a founding member of the Caribbean Community and an active supporter of 
regional integration.  Tariff-barriers for trade in goo ds within CARICOM have been widely abolished, 
to the benefit of regional production.  A significant share of Guyana’s imports and exports are with 
CARICOM states.  The completion of the CARI COM Single Market and Economy (CSME) is a 
priority for both the Government of  Guyana and its regional partners. 
28. Market access is a key trade policy objective for Guyana, in view of the small domestic 
market size.  As such, since the last review, Guyana has sought to strengthen its trade relationships 
with long-standing partners, as well as to explore new relationships.  Guyana receives preferential 
market access in a number of markets, mainly in the European Union, the USA and Canada.  A 
significant share of its exports does indeed depend on such preferences.  Together with CARICOM, 
these countries are also Guyana’s major trading partners. 
29. The EU’s preferential market for Guyana’s exports  of sugar, rice and rum has been crucial for 
the development of these sectors.  As is wide ly known, the trade relationship with the EU is 
undergoing substantial changes.  Trad e relations with the EU entered a new phase with the conclusion 
of the CARIFORUM-EU Economic Partnership Agreement at the end of 2007.  The agreement 
provides for asymmetric reciprocity.  Implementation of the commitments in the EPA will Guyana WT/TPR/G/218 
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undoubtedly be challenging, especially given Guyana ’s limited resources.  As such, Guyana places 
great emphasis on the timely and predictable delivery of resources to ensure seamless implementation. 
30. The United States grants duty-fr ee access for a wide range of products under the Caribbean 
Basin Initiative (CBI).  The CBI has recently b een extended by the US Congress and WTO members 
renewed a waiver until 2014.  The United States is  also the major source of non-oil imports for 
Guyana. 
31. Canada extends to Guyana and other CARICO M countries non-reciprocal preferential access 
to the Canadian market for a wide range of pr oducts under the CARIBCAN Agreement.  Gold and 
diamonds account for a significant share of Guyana’s  exports to Canada.  CARICOM and Canada are 
currently preparing for negotiations for an enha nced Trade & Development Agreement that will 
further strengthen the trade and economic  relationship between the parties. 
32. CARICOM has signed FTAs with a number of La tin American countries, namely Cuba, the 
Dominican Republic, Costa Rica, Colombia and Ven ezuela.  Guyana has also signed a bilateral 
Partial-Scope Agreement with Brazil.  However,  despite the geographic proximity trade between 
Guyana and these countries has until now been rather limited.  One contributing factor is the limited 
transportation infrastructure between the parties. 
33. A further expansion of trade relations through new or improved trade agreements is foreseen 
over the next years.  Tariff barriers in potential export markets will become less important in the 
future, especially once the Doha round is successfully concluded.  An increased effort will have to be 
made both by exporters to explore opportunities in ne w markets and by the Government in providing 
an enabling environment for the increased producti on and export of non-traditional exports and in 
improving trade infrastructure.  The latter will be of major importance in facilitating Guyana’s trade 
with Brazil and other countries on the South American mainland.  
(iv) New and emerging sectors 
34. Historically, the growth pillars of the Guyanese economy depended on the traditional 
industries – sugar, rice and bauxite.  However,  the traditional economic industries alone cannot 
provide a sufficient number of j obs and rapidly increase per capita  income, which will be necessary 
for Guyana to achieve the Millennium Developmen t Goals (MDGs) and reduce poverty significantly.  
Nor will they be sufficient to reduce the country’s  vulnerability to external shocks.  While the 
traditional industries continue to grow and show great resilience, the Government places high priority 
on actively promoting accelerated diversification of the economy.  In this regard, non-traditional 
agricultural sub-sectors, tourism, alternative ener gy and information technology are among future 
growth poles. 
35. In the area of agriculture, several emerging sub- sectors continue to show formidable prospects 
for investment and growth, including fruits and ve getables, livestock and aquaculture.  Special 
emphasis is placed on institutional strengthening, training, research and development, and increasing 
levels of production.  The Agriculture Export Di versification Programme wi ll provide institutional 
support to the National Dairy Development Progr amme (NDDP) and the National Agricultural 
Research Institute (NARI), including through th e construction of new laboratories at NDDP and 
rehabilitation of the seed facility at NARI. 
36. The Government is pursuing private investments in  alternative energy in the areas of biofuels, 
hydropower, and solar power.  In the area of hydrop ower, a major project is planned at Amalia Falls 
which, once completed, would lead to a significan t improvement of electricity supply in Guyana.  
Petroleum exploration is currently ongoi ng on both offshore and onshore locations. WT/TPR/G/218 Trade Policy Review 
Page 10 
 
 
37. Also, in relation to non-traditional minerals, se ismic surveys have indicated that prospecting 
for uranium is promising and may hold potential in the future.  The Government will continue to 
facilitate and promote the activities of this sector, with a view to successful exploration and timely 
advancement into production. 
IV. MULTILATERAL TRADE RELATIONS 
(i) Doha Development Agenda (DDA) 
38. Guyana supports an early and successful conc lusion of the Doha Development Round with a 
balanced, development-oriented outcome. 
39. Guyana’s position in the current Doha round negot iations is closely aligned to those of its 
regional CARICOM partners and th e Small and Vulnerable Economie s (SVEs) group.  Guyana has 
been an active participant in the negotiations, de spite the fact that the country does not have 
permanent representation in Geneva. 
40. Guyana’s interests in the DDA negotiations on agriculture are guided by two main factors, 
(1) the need to provide adequa te policy space for domestic and CARICOM agriculture, and (2) the 
importance of exports to traditional markets.  In the first case, Guyana welcomes the fact that the 
proposals of the SVE group have gained wide acceptance among the membership and that these 
modalities will allow the country to continue pr oviding a supportive trade environment to its 
agriculture.  On the second – exports to traditiona l markets – there continue to be some critical 
concerns about the extent to which damaging pr eference erosion will occur for important products 
such as sugar, rice and rum. 
41. While it is accepted that the overall thrust of th e negotiations is towards liberalized markets, it 
is also essential that vulnerable economies are give n sufficient opportunity and development space to 
adjust to a changing environment.  Most of Guyana’s exports are either raw materials with zero duties in major markets or products that depend on preferential market access.  It is therefore essential that the modalities regarding preference erosion are settle d in a manner that provides sufficient assurances 
to preference-dependent developing countries that they will not be pushed out of their traditional 
markets. 
42. With regard to domestic support, Guyana is satis fied that the current flexibilities available to 
developing countries, such as those contained in  Article 6.2 and Annex 2 of the Agreement on 
Agriculture will be maintained.  Regarding export  subsidies, Guyana recognizes the need for the 
continuation of genuine aid flows while at the same time wishes to guard against the penetration of its 
regional market by officially-supported supplies   that are aimed only at increasing the market share of 
the producers in donor countries. 
43. Guyana supports the position of the G33 for a Special Safeguard Mechanism (SSM) which 
would provide developing countries with effective protection against sudden import surges by being 
comprehensive in coverage, available on an indefinite basis and easy to implement. 
44. Market access provisions for SVEs in NAMA n eed to provide for sufficient flexibilities. 
There is the need to provide adequate policy sp ace for domestic and CARICOM producers.  As such, 
throughout the negotiations, Guyana has advocat ed for tariff reduction modalities for developing 
countries, and SVEs in particular, that fully addr ess these needs.  Guyana we lcomes the fact that the 
proposals of the Small and Vulnerable Economies (SVE) group have gained wide acceptance among 
the membership and that these modalities will allow the country to continue providing a supportive 
trade environment to its producers.  Guyana WT/TPR/G/218 
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(ii) Aid for trade 
45. Trade is a key priority for Guyana.  The Government of Guyana welcomes the efforts of the 
international community to further support Guyana in improving its capacity in trade.  Aid for Trade 
is important to enable Guyana to make maximum use of additional opportunities that may arise out of 
the Doha round and to counterbalance the negative eff ects of a changing trading environment, e.g. due 
to preference erosion. 
46. Guyana is committed to actively engage with in ternational donors to help make Aid for Trade 
work for development.  It is crucial that Aid fo r Trade resources are provided in addition to existing 
aid programmes and remain flexible enough to fit in to the needs of recipient countries.  Capacity 
constraints of small developing economies have to be taken into consideration when designing such 
programmes.  As outlined in Guyana’s submission to the 2nd Global AFT Review (WTO/OECD AFT 
Questionnaire), such programmes should be sync hronised with other aid programmes to avoid 
unnecessary duplications or additional burdens (capac ity constraints) in terms of accounting, 
monitoring and evaluation. 
47. The Government views Aid for Trade not merely as a mechanism of compensation for the 
short term costs associated with trade liberaliza tion but rather as a critical tool in facilitating the 
adjustment and smooth integration of small deve loping economies in the global economy over the 
longer term.  There is, however, an important and i mmediate need for assistance to avoid or minimize 
potential economic dislocations, associated with lim ited supply-side capacities to adjust rapidly and 
beneficially to policy-induced changes, arising fro m multilateral trade liberalization.  In the case of 
Guyana, a loss of trade preferences coupled w ith the pressures of an increasingly competitive 
multilateral trading environment would definitely, in the short to medium term, not only impact 
severely on the capacity of the public sector to respond but also on the private sector to adjust to new 
market demands. 
48. Guyana’s integration in the world economy has de epened in recent years, with the trade to 
GDP ratio growing to reach 170% in 2007.  Altho ugh domestic production diversified to an extent, 
exports are still concentrated on a few primary product s, notably gold, sugar, bauxite and rice.  The 
relevant and effective application of aid for trade in  the context of the DDA, therefore, will need to be 
focused on support for trade-related economic adjust ments, technical assistance, supply-side capacity 
building and the improvement of the country’s eco nomic infrastructure.  For a sparsely populated 
country like Guyana, improving transport infrastructure is a key measure to connect local 
communities as well as facilitating lin ks with regional neighbours. 
49. Addressing the ‘Economic Infrastructure’  as a whole is the Government of Guyana's top 
priority for trade expansion and integration into the world economy.  In this regard the country’s trade-related infrastructural needs extend beyond th e national boundaries.  Guyana, a member of the 
Caribbean Community (CARICOM), is also a mainla nd country in South America.  As such, in the 
context of its economic infrastructure, it has to pursue trade strategies and physical integration 
projects that would enable it to expand trade a nd economic cooperation with  its South American 
neighbours with which it shares borders, and at  the same time foster inter-regional trade and 
investments linkages. 
50. Targeted support would be needed at the ente rprise and producer levels to enhance export-
production capabilities and competitiveness in commodities, manufactures and services sectors with a 
strong potential, including through diversification into alternative exports, as well as to facilitate entry 
into new markets. WT/TPR/G/218 Trade Policy Review 
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51. In the face of dwindling aid resources, the Govern ment of Guyana believes that  greater focus 
should be placed on the "Budget Support" means of delivery and implementation in order to achieve 
greater effectiveness of aid for trade. 
V. FUTURE POLICY DIRECTIONS:  OPPORTUNITIES AND CHALLENGES 
52. Guyana, as other developing countries, faces great  challenges in the next years, which is 
further aggravated by the current global financial cr isis.  Despite these challenges, the Government of 
Guyana has outlined clear policies aimed at  making Guyana a better place for business and 
investments.  Significant improvements in key areas such as electricity and road infrastructure are 
expected over the next years and will help to make Guyana more competitive.  Further export 
diversification and more exports of value-added products, as well as services, can be seen already. 
53. At the global level, the financial crisis and resu lting economic crisis is projected to result in a 
decrease in export by 9% in volume terms in 2009.6  This coupled with possible reductions in 
remittances could have a significant socio-economic effect on the economy and threatens to reverse 
the gains achieved over the past several years.  Cons equently, care should be exercised to ensure that 
solutions crafted by the international community sufficiently take into account the interest of 
developing countries, especially small vulnerable economies.  
54. Recent information emanating from the WTO suggest s that several members have resorted to 
protectionist measures as a response to the ongoing crises.  These include tariffs, quotas, import restrictions, administrative requirements, licensing requirements and export subsidies.
7 
Reforming traditional industries 
55. A key challenge is the future of the sugar industry.  The price cut of 36% by the European 
Union, which is the key export market for suga r, will be fully implemented by October 2009. 
Together with a relatively low sugar production in  2008 mainly due to extreme weather phenomena, 
the industry is recently facing difficulties.  However,  the ongoing modernization of the sugar industry, 
including the construction of a US$181 million sugar f actory, the increased use of mechanization and 
a focus on value-added products, such as packaged s ugar, refined sugar and molasses is expected to 
bring substantial improvements to the industry. 
56. The rice, rum and garment sectors will be affected  by a substantial loss of the value of their 
preferences in the EU and US markets.  Although th ese industries may be able to adapt to a changing 
trading environment, it is crucial that sufficien t time and resources be provided to allow for the 
necessary transformation. 
Competition policy 
57. Another challenge is a lack of competition in some  sectors.  This is not unique to Guyana, but 
a typical problem for small countries, where usually only a few suppliers or importers compete.  To 
address this, Guyana has adopted a new competition law,  which, once fully implemented, will help to 
raise the level of competition and reduce anti-compet itive practices.  As can be seen in other world 
regions, a better regional integration, as is foreseen with the completion of the CSME, can also be a 
major step towards more competition in the local market.  
                                                      
6 As reported by the WTO Secretariat on 26th March 2009 (Job(09)/30). 
7 Ibid. Guyana WT/TPR/G/218 
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Transport infrastructure 
58. Better transport links to neighbouring Brazil are a major opportunity for Guyana in the years 
ahead.  The planned upgrading of the Linden-Lethem highway to an all-weather road will not only 
provide better access to local markets for hinter land communities, but it would also allow the 
transhipment of goods from and to Brazil.  Together  with upgraded harbour infrastructure in Guyana, 
goods could be shipped much faster and at comp etitive freights from and to the Brazilian state of 
Roraima, rather than having to be shipped via Ma naus and the Amazon River.  Guyana could also 
profit from better and cheaper shipping connections  due to better infrastructure and economies of 
scale.  There is also a substantial potential for exports to that part of Brazil. 
Energy 
59. The supply of electricity in Guyana faces diffi culties.  Guyana relies on imported oil for its 
power supply, which makes it very vulnerable to pr ice shocks on the oil mark et.  However, several 
projects to exploit hydropower are underway, the most advanced being the Amalia Falls Hydro 
Project.  There are also plans to use wind power, and the Government is addressing the demand side through increased efforts to reduce technical and co mmercial losses.  It is therefore expected that 
power supply will see substantial improvements over the next years, which will also have a very 
positive effect on the competitiveness of the manufactur ing sector.  In the long run, Guyana’s vast 
potential for the generation of hydropower could also  be used to export energy to other countries in 
the region or for the production of aluminium.  
Export diversification 
60. A major challenge is the need to diversify ex ports.  The bulk of Guyana’s current exports 
consist of only a small number of products, whic h are mostly agricultural commodities and products 
of the mining industry (sugar, rice, gold, diamonds, bauxite and timber).  This makes the Guyanese 
economy vulnerable to price shocks and the erosion of preferences for agricultural commodities is an additional challenge.  But non-traditi onal exports are already on the rise.  Examples are a variety of 
fruits and vegetables.  Aquaculture is also seen as  one of the sectors with a significant potential for 
increased production, given Guyana’s abundance of water resources.  
New technologies and ICT 
61. New technologies also offer new opportunities for exports of services.  In 2006, the 
Government launched its ICT strategy which when  fully implemented will have a wide ranging 
impact on the economy.
8  A number of call centres are already operating in Guyana.  They are mainly 
catering for the North American market and have  proven that Guyana can successfully compete in 
such new sectors.  Tourism is also expected to  become a more important sector of the economy. 
Guyana’s abundance of unspoiled flora and fauna  increasingly attracts eco-tourists, and the large 
Guyanese diaspora is also a signi ficant market for that sector.  
Climate change and environmental impact 
62. Climate change could have a significant impact on Guyana’s economy.  Most of Guyana’s 
coastland lies below sea level and a change in weathe r patterns could negatively affect the agricultural 
sector and thereby directly affect Guyana’s export s.  Guyana has already seen an increase in rainfall 
and floods over the last five years, which caused significant damage to livelihoods of people and agricultural production.  These events have shown how  vulnerable Guyana’s economy is to the effects 
                                                     
 
8 See http://www.ict4d.gov.gy/ for details on the ICT strategy. WT/TPR/G/218 Trade Policy Review 
Page 14 
 
 
of climate change.  Therefore, the Government has put policies to combat climate change at the core 
of its program.  Guyana is willing to play its part in the fight to mitigate the negative impacts of climate change and is ready to integrate its ra inforest in a global carbon credit scheme within the 
United Nations Framework Convention on Clim ate Change (UNFCCC), specifically under the 
proposed REDD mechanism (Reducing Emissions from De forestation and Degradation).  In 2008, the 
Office of the President presented a detailed pape r, laying down Guyana’s position on avoided 
deforestation.
9  In this regard, Guyana can become a significant provider of environmental services 
and such activities could help to secure revenue to allow addressing adapta tion needs, such as 
improved sea defence and drainage, while creati ng other non-forestry related opportunities.  
Public-private dialogue 
63. The Government of Guyana places high prior ity on extensive public-private dialogue on 
policy matters, including trade-related policies.  A good example is the institutionalised high-level 
inter-agency “National Advisory Committee on Exte rnal Negotiations”, established since 1997, in 
which senior members of the public and private sect ors, academia and labour, consult on trade policy 
developments, including national preparation for and participation in external trade negotiations.  
Consultations with relevant stakeholders also exte nd to the implementation of trade agreements.  As a 
matter of public policy and good governance, th e Government is committed to the consultative 
process to enhance the understanding and appreciati on of the Guyanese public of the benefits and 
impact of trade and trade liberalization.  The Gove rnment of Guyana will continue this practice to 
ensure that the public is thoroughly involved and can  provide input into crucial trade-policy matters.  
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9 The paper is available online at:  http://gina.gov.gy/booklet%20on%20avoided%20deforestationf.pdf.