As part of efforts to advance the process of regional integration and encourage free circulation of goods in the Caribbean Single Market Economy (CSME), the “Consultancy to conduct a comprehensive Review of the CET [Common External Tariff] and Rules of Origin” is slated to take place in Georgetown shortly, from May 31 to June 2.
Consequently, it is expected that new draft CET schedule and Rules of Origin will be submitted to the Council for Trade and Economic Development (COTED) for approval by CARICOM Ministers of Trade for implementation.
To that end, Vice President and Minister of Foreign Affairs, Carl Greenidge, recently held a briefing session with private and public stakeholders with a view to ensuring an effective outcome of the Consultancy. Participants expressed concerns about unfair trading practices by CARICOM Member States, the preference of regional manufacturers for extra-regional inputs, use of technical specifications as a barrier to trade, and cases of alleged dumping of goods into the Guyanese market.
They included representatives from the Guyana Revenue Authority, the New Guyana Marketing Corporation, the Georgetown Chamber of Commerce and Industry, the Private Sector Commission, the Guyana Manufacturing and Services Association, and individual manufacturing entities, who underscored their commitment to a successful outcome of the Consultancy.
Since 2001, Guyana had called for a review of the CARICOM trading arrangements, particularly as relate to rules and procedures governing suspensions of the CET and derogations from the rules of origin relative to new trading arrangements, as well as developments in the global trading regime and the dynamics of supply and demand trends.
Ministry of Foreign Affairs
April 6, 2017