The Guyana Manufacturing and Services Association (GMSA) and the Guyana Sugar Corporation Inc. (GuySuCo) have agreed that the 40% Common External Tariff (CET) on extra regional refined sugar will not apply for the specific use by food and beverage manufacturers until at least 2022 when production of this item is expected to begin here.
A joint statement issued yesterday explains that following “Guyana’s National Conversation on the Treatment of Sugar in CARICOM Trade Policy” hosted by the Ministry of Foreign Affairs on 24th October, 2019, GuySuCo confirmed its commitment to producing white sugar of Codex ICUMSA 45 specifications to meet the requirements of the GMSA’s manufacturers of food and beverage products.
“The Company has already sent out a request for tenders for a processing plant to produce white sugar of the required quality and colour with a target of early 2022 for first production,” the statement explains.
