A HIGH-level meeting of officials from Guyana, Suriname and Caribbean Export is currently underway in Suriname, with officials discussing a report prepared on enhancing exports to Brazil from Guyana and Suriname, and a Troika Trade Assessment Plan (T-TAP) detailed in the report.

With Brazil having become an economic powerhouse in Latin America, Caribbean Export commissioned a study which detailed an immediate set of actions aimed at addressing the less-than-stellar performance of firms based in Guyana and Suriname in the Brazilian market.

The report noted that Guyana and Suriname are not adequately exploiting trade opportunities, either between themselves or with Brazil, and the report found that the Partial Scope Agreements (PSAs) between Brazil and the two CARICOM countries do not cover most of the countries’ most competitive exports.

The report also found that infrastructural limitations, such as energy costs and road networks, inhibit trade. Further, Brazil’s import demand does not sufficiently match exports from Guyana and Suriname nor the comparative advantages of the two members of the Troika.

The report finds that the strategic window for enhanced exports to Brazil is the Olympic Games and the World Cup in 2014 and 2016 respectively, because those occasions present Guyana and Suriname with a market entry period of sorts.

The objective of the Troika Trade Assessment Plan (T-TAP), as detailed in the report, is to generate some US$13.5M in export sales to the other Troika markets by 2018. The target for Guyana is US$8.4M because of its geographical access to Brazil and the wider coverage of its PSA with Brazil.

Some of the
recommendations of the T-TAP include establishment of trade desks in the Suriname Business Forum and the Private Sector Commission of Guyana to provide training for export-ready firms; and trade and market intelligence and trade show support, including the subsidising of airfare and accommodation for export-ready firms.

The Assessment also recommends initiating a desk-exchange programme amongst SEBRAE, the Brazilian private sector organisation, Caribbean Export, the Private Sector Commission of Guyana, and the Suriname Business Forum.