A roadmap that seeks to improve Guyana’s trade-related systems was officially launched yesterday with officials underscoring that its implementation would make Guyana a more attractive destination for foreign direct investment.
According to Foreign Secretary Carl Greenidge, implementation of key trade facilitation reforms as outlined in the Trade Facilitation Roadmap 2019-2024 would reduce trade processing time by 50 per cent and related transaction costs by 30 per cent by the end of 2024, which would lead to the enhancement of Guyana’s ease in doing business.
The National Committee on Trade Facilitation (NCTF) yesterday launched the roadmap which also represents a bid by Guyana to meet its international obligations under the Trade Facilitation Agreement (TFA) promulgated by the World Trade Organisation (WTO). The TFA was ratified by Guyana in 2015 and it entered into force in 2017.
