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OBJECTIVE:
To formulate and advocate a coherent and effective trade
policy that will advance Guyana’s multilateral, regional and bilateral
trading interests; identify opportunities for developing new markets for
existing goods and services and new exportable goods and services.
SUB-PROGRAMME:
1.
Trade Policy
KEY RESPONSIBILITIES:
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Formulate and advocate a coherent and effective trade policy for Guyana
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Coordinate and develop national positions on external trade negotiations and
international trade policy |
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Support
regional trade arrangements and the implementation of the CARICOM Single
Market and Economy |
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Coordinate and monitor the operations of the various
trade agreements with foreign countries to which
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Guyana is signatory
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Promote Guyana’s multilateral, regional and bilateral trade
policies in liaison with Guyana’s diplomatic |
missions and overseas trade
representatives
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Support
local industry and business development through the identification and
removal of barriers to trade |
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Organize workshops, seminars and conferences in the
areas of foreign trade |
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Provide
data, analyses, reports and policy papers to state and non-state actors
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Provide the Guyanese community at home and abroad with
comprehensive, relevant and up-to-date information
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on Guyana’s policies on
foreign trade.
Trade Policy
Description of Sub-Programme
1
Foreign Trade
is a core activity of the Guyana economy and the steps that are required
to support and propel its further development are far reaching and
diverse.
Guyana’s main agricultural exports, sugar and
rice, which are also major foreign exchange earners, benefit from
non-reciprocal preferential arrangements, mainly in Europe. These
arrangements are already set to undergo far reaching changes over the
next eight years to the extent that access to preferential markets could
be severely threatened in the face of continued WTO-led liberalization
of international trade.
A coherent and effective Trade Policy will therefore be crucial to
advancing, over the next decade, Guyana’s efforts to increase exports
beyond the current level and diversify away from dependence on the
exports of primary commodities.
The Ministry of Foreign
Trade and International Cooperation will be responsible for the
formulation and advocacy of this trade policy, a principal objective of
which will be to advance Guyana’s multilateral, regional and bilateral
trade interests through the resources of Guyana’s diplomatic network
inter alias.
Efforts will be intensified to ensure that, together with like-minded
countries, critical reforms to the multilateral trade system are
realized and that Guyana’s interests are safeguarded as regional and
extra-regional trading arrangements evolve and new trading regimes
established.
Current negotiations for the establishment of a hemisphere wide Free
Trade Area of the Americas (FTAA) and the regional arrangements for the
implementation of the CARICOM Single Market and Economy (CSME) are of
priority importance to the nation’s foreign trade agenda. Of equal
urgency is the pending negotiations between the ACP and the European
Union for an alternative trade regime.
All efforts will be made to employ modern methods and take advantage of
new technologies in the pursuit of greater trade gains and the more
effective participation of Guyana in the international trade
environment. This would allow the following key targets to be realized
in an effective manner:
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Implementation of a coherent and effective trade policy |
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Informed decision-making, enhanced participation and input by Guyana
in the various external trade negotiations
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Improved conditions for Guyana’s trade and investment opportunities
within CARICOM and the wider international
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community
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Increased consultations with and information flows to stakeholders
regarding Guyana’s international trade policy
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initiatives.
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Our trade policy, therefore, will be geared to:
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Support local industry to take advantage of
opportunities arising from international economic trends, including
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the identification and removal
of barriers to trade
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Promote Trade and Investment opportunities for Guyana through
bilateral activities |
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Overcome market barriers facing exports of goods and
services through negotiations with other Governments,
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and through
active participation in the
World Trade Organization and in regional bodies such as CARICOM
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Utilize the rules and procedures of the WTO to protect and pursue
Guyana’s foreign trade interests |
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Provide the Guyanese community at home and abroad with
comprehensive, relevant and up-to-date information |
on Guyana’s foreign
trade policy and
related developments.
Key Components
1.
MULTILATERAL TRADE RELATIONS
Monitor, analyze and act on developments in the multilateral trading
system to advance Guyana’s trading and
economic interests. (Trade
Agreements....) *** 
1.1
World
Trade Organization (WTO)
1.2
ACP - EU Trade Arrangements
1.3
Hemispheric Trade Matters
2. REGIONAL TRADE ARRANGEMENTS
Support regional trade arrangements and the implementation of the
CARICOM Single Market and Economy
(CSME)
Manual of Administrative Procedures for CSME
implementation....
2.1
CARICOM Trade Matters
a.
Prepare for, and participate in, COTED Meetings
b.
Monitor /coordinate the implementation of the various elements of the CSME at the national level
c. Monitor the implementation and effective utilization of the various
regional trade agreements to which
Guyana has acceded.
d.
Monitor Guyana’s bilateral trade relations with CARICOM member states.
e. Participate in the work of the ACS Sub-Committee
on Trade.
3.
BILATERAL TRADE RELATIONS
Formulate (and implement) appropriate Arrangements to enhance Guyana’s
trade with traditional and non-traditional
markets.
4.
INTERNATIONAL BUSINESS AND TRADE FACILITATION
Support local
industry and business development through the identification and
removal of barriers to trade
5. TRADE POLICY RESEARCH AND INTELLIGENCE
Identify opportunities for developing new markets for existing goods
and services and new exportable goods
and services.
6. CAPACITY
BUILDING
The institutional strengthening of the ministry
in its trade related functions.
7.
National Advisory Committee on
External Negotiations (NACEN)
Coordinate national preparations for Guyana’s effective participation
and input in the various external trade negotiations.
a. Identify issues of national concern to Guyana pursuant to the
country’s strategic trade and economic
policy objectives.
b. Monitor regional preparations and liaise with the Caribbean Regional
Negotiating Machinery (CRNM) in the
development of
regional positions and strategies.
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