– Dookhoo
President of the Guyana Manufacturing and Services Association (GMSA) Ramesh Dookhoo on Thursday called for expanded trade between Guyana and the USA, in light of statistics that show that trade from Guyana to the US is on the decline.
According to Dookhoo, this was suggested by statistics from the Go-Invest website. Information on that website says that exports dropped from $24.8 billion in 2003 to $19.8 billion in 2007. However, he pointed out that there may some discrepancy in this.
Nevertheless, Dookhoo called for a growing of trade links between the two territories. He said “we need to grow the trade links with the US in an active manner, in a manner that provides a level platform for a country like Guyana”
Dookhoo was at the time addressing an audience consisting mainly of private sector representatives and which included US Ambassador to Guyana John Jones, who later delivered the feature address. The event was a GMSA-sponsored business luncheon held at the Regency Suites.
He pointed out that trading with the US was becoming increasingly more difficult especially for first time exporters who were faced with intense security checks. He said that this undoubtedly came about because of the problem with the narcotics trade.
He suggested that it may be time to introduce a Recognised Economic Operator which might be able to remedy this problem.
The President pointed out that the International trade and investment committee within the GMSA is important at this point. He said that they are exploring bilateral and multilateral treaties and agreements in areas such as productivity, and competiveness measures, technical assistance initiatives, public/private sector intercourse with regards to WTO/FTO matters, and trade discrimination using non-tariff barriers, government assistance to exporters, trade promotion issues, industrial development and investment promotion policies, industrial infrastructure to business incubators and estates.
US Ambassador Jones said that the US and Guyana are involved in an important evolving partnership, one where both countries are benefitting.
He said that the USA views its pouring of finances into Guyana as an “investment” rather than as aid. The ambassador explained that an investment implied that there are going to be some returns at a later date.
Jones added that for the US Embassy their investment is for a safer, more developed and democratic society. He stated that during this year the US will be putting in US$30 million in programmes to combat HIV/AIDS.
The ambassador said that the US Government commits resources where it feels it is most likely to get its best returns in investment. He pointed out that if the US government did not see sufficient progress in the areas they will be reluctant to put in additional resources. This has been a constant refrain of previous US envoys.
Jones said that the emphasis should be on getting results and this raises the question of what are the best projects. According to him, the partnership between the two countries has seen positive results. He said that the US government has spent US$80 million in partnership with the Ministry of Health to reduce HIV/AIDS infection and the rate fell from three percent to one percent.
During the last four years the USAID has spent US$7 million locally to support its market-led approach to economic growth in collaboration with the private sector and the Government of Guyana.
Meanwhile, he said it was imperative that systems be reviewed and said what worked in the past may not necessarily work now. He stated that democracy cannot exist without a healthy private sector and added that “economic success ultimately comes from the private sector.”
Commerce Minister Manniram Prashad, Chairman of the Private Sector Commission Gerry Gouveia and Mexican Ambassador to Guyana Fernando Sandoval Flores were also in attendance at the event.
