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EU meets local business leaders on increased trade ties
The European Union (EU) is ramping up efforts to sensitize Guyana and the region of the benefits of conducting trade with the countries in that group.
Yesterday, the Delegation of European Union in Guyana, hosted the second of what is to become a series of information meetings relating to the Economic Partnership Agreement (EPA) with stakeholders in the private sector.
EU Ambassador Robert Kopecký (second left) meeting with the Private Sector Commission yesterday.
According to the EU, the idea is to sensitize stakeholders about EPA and the numerous possibilities that are available for Guyanese businesses to boost trade relations and to ensure that Guyana’s business sector maximises the benefits of the agreement.
EU, in a statement following the meeting with the Private Sector Commission (PSC), explained that sessions are geared to make the private sector aware of the large range of measures and programmes financed by the body to support the implementation of the EPA and improve possibilities for trade and investment both within the Caribbean and in relation to the EU.
“Nearly two-thirds of the current Euros 165M Regional Programme between the EU and CARIFORUM is targeted either directly or indirectly at such support and this is accompanied by a series of additional thematic or ACP (African, Caribbean, Pacific countries)-wide programmes.”
Head of Delegation, Ambassador Robert Kopecký, along with Allison Francis, an official from the CARIFORUM EPA Implementation Unit, who attended the meeting, yesterday urged the Guyanese business community to be proactive and make maximum use of the trade opportunities under the EPA and of various trade related support programmes.
The PSC comprises some 21 business associations in Guyana. About 15 members from the Guyana Manufacturers and Services Association, Georgetown Chamber of Commerce and Industry, Guyana Office of Investment, Tourism and Hospitality Association, Small Business Association, Forest Producers Association and the Tourism Association of Guyana were part of the information session.
“All these efforts have been undertaken with the common objective to boost Guyanese – European trade relations in the current difficult context of the world financial crisis,” the EU said.
“The last available statistics indicate that in 2010 Guyana exported to the EU, goods worth 170 million Euros, whilst its imports from the EU were 89 million Euros, thus creating a positive trade balance in Guyana’s favour of 81 million Euros. With these results the EU continues to be the third most important trade partner of Guyana after Canada and the USA.”
Main items of Guyanese exports to the EU are sugar and its derivatives, rice, bauxite, rum, processed timber, diamonds and sea food.
Guyana imports, from the EU, machinery and mechanical appliances, dairy, agricultural products and medicines.
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