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Foreign Minister calls for greater emphasis on developing local services sector
Minister of Foreign Affairs, Karen Cummings, yesterday urged representatives from the public and private sectors to place greater emphasis on the development of the local services sector.
Minister of Foreign Affairs, Dr. Karen Cummings
Participants of the Trade in Services Workshop
She was delivering opening remarks at a Trade in Services Workshop hosted by the World Trade Organization (WTO) in collaboration with the Guyana Coalition of Service Providers.
“The development of the Oil and Gas Sector will see an influx of foreign companies with increased demand for services offered in Guyana. Service providers will need to respond accordingly, in order to avoid being marginalised in their own markets,” Dr. Cummings said.
“As a Government, we recognise that the services sector, once strategically developed, can assist in enhancing Guyana’s trade in value added products,” she emphasised.
The Foreign Minister highlighted the challenges faced by local service providers while trying to enter their respective markets and establish a presence as observed during the five-year review of the Caribbean Forum-European Union (CARIFORUM- EU) Economic Partnership Agreement conducted in 2015.
The second five-year review of the Agreement is expected to be completed in 2020.
In this regard, she pointed out, CARIFORUM has placed emphasis on trade in services by encouraging the establishment of Coalition of Service Providers across the CARIFORUM region. Through the recent re-launch of the Guyana Coalition of Service Providers, the country has the opportunity to capitalise on technical needs within the services sector and provide the necessary technical assistance.
The three-day workshop aims to enhance the knowledge and understanding of local stakeholders of trade and services rules through the WTO, and more specifically the General Agreement on Trade in Services (GATS).
Participating representatives from the public and private sectors will also have an opportunity to network and exchange information across the various sectors through targeted panels and discussions.
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