Commerce Department
Recent Highlights

 

The following provides a brief flavour of some of the most recent highlights from Commerce Department’s work agenda.

 

Presidential Summit on Private Sector Development

The Commerce Department collaborated with the Office of the President and the Private Sector Commission (PSC) in the process of creation of the National Competitiveness Strategy, which has now seen greater expression in the Presidential Summit on Private Sector Development.

 

CARICOM-Venezuela Trade and Investment Agreement

Commerce Department was tasked by Ministry of Foreign Trade and International Cooperation (MOFTIC) with the preparation of a revenue impact assessment of the CARICOM – Venezuela Trade and Investment Agreement and the compilation of a list of sensitive products to be used to decide which products would not be eligible for duty-free access. This process involved extensive consultations with private sector organisations and companies but resulted in the submission of a list of products for which duty free access should not be granted.

The phasing out of the Agreement on Textiles and Clothing (ATC)

Commerce Department recently produced a comprehensive report in collaboration with the Ministry of Foreign Trade and International Cooperation (MOFTIC) on the impact that the phasing out of the Agreement on Textiles and Clothing (ATC) is likely to have on our clothing and textiles industry. The report was the outcome of a long research effort including research based on primary sources via detailed consultation interviews with relevant stakeholders.

Commerce Department in collaboration with MOFTIC is now holding a series of workshops to present some of the findings of the work to clothing and textiles businesses, private sector organisations, and government. The overriding aim of the workshops is to develop a vision for the sector and an Action Plan to achieve that vision to counteract the emerging threat that increased competition from China, India and elsewhere is having on our clothing and textile industry.

[Details and documents]

This work has also assisted the Ministry of Foreign Trade and International Cooperation (MOFTIC) in furthering Guyana’s national interest in the sphere of trade policy in this area. Commerce Department recently presented Guyana’s position to Council for Trade and Economic Development (COTED) with regard to this matter and recommended that a regional study be conducted by the Caribbean Regional Negotiation Machinery (CRNM) into the implications of the ATC phase out (Guyana is currently awaiting the findings of this report).

 

Economic Partnership Agreements (EPA)

The Department is currently engaged on an ongoing basis in providing technical support to MOFTIC with regard to the provision of analysis pertaining to the current EPA negotiations with the EU which are calling for reciprocal trade liberalisation and an end to trade preferences between the EU and the ACP (African and Caribbean) group of countries. Commerce Department has recently produced a number of papers to support preparations.