–Minister Walrond, Ambassador Ramsammy lead talks on global trade

GUYANA has once again taken new steps and continues to gain recognition on the world stage. In a week-long series of public forums at the World Trade Organisation (WTO) headquarters, Guyana emerged as a prominent voice advocating for more equitable global trade policies and highlighting the unique challenges faced by Small Island Developing States (SIDS).
From September 9 to 14, 2024, ministers, government officials, and experts from around the world convened in Geneva to discuss leveraging trade for development as part of the WTO’s 30th-anniversary celebrations. The forum, themed “Re-globalisation for Inclusive Trade,” aimed to address the uneven distribution of trade benefits and explore strategies for a more inclusive future.

Guyana’s delegation, led by Minister of Tourism, Industry and Commerce Oneidge Walrond and Ambassador Dr Leslie Ramsammy, played a pivotal role in multiple high-profile panel discussions.
Spotlight on special and differential treatment
Minister Walrond, speaking at a panel on “Inclusive Policies, Global Impact: Ensuring the Best Use of Special and Differential Treatment,” emphasised Guyana’s commitment to trade liberalisation and market access, particularly in developing its agricultural sector.

“Guyana pursues an open trade policy and, in the context of CARICOM, fully embraces free trade,” Walrond stated. She called for improvements in the global approach to Special and Differential Treatment (SDT) to ensure better market access for key food staples from Guyana and other SIDS countries, especially in light of the disproportionate impact of climate change on these nations.

SIDS and the Blue Economy
In a separate panel titled “The Big Blue Agenda: Can SIDS Thrive in a Reglobalised World?”, Walrond addressed the challenges SIDS face in pursuing the Blue Economy. She highlighted Guyana’s Low Carbon Development Strategy (LCDS) and its potential for diversifying the economy through Green and Blue Economy initiatives.
Ambassador Ramsammy participated in a panel discussion on “Global Trade and Food Security: The Contribution of Latin America and the Caribbean.” He presented a stark picture of global hunger, noting that despite progress between 1990 and 2010, more than 735 million people worldwide experienced hunger in 2022, an increase of 120 million since 2019.

Ambassador Ramsammy boldly questioned why 250 million people in the Latin America and Caribbean (LAC) region experience hunger when the area produces more than 17 per cent of the world’s food and accounts for over 45 per cent of global agri-food exports. He attributed part of the problem to an inequitable trade system, highlighting low intraregional trade and unbalanced foreign direct investment flows.
The ambassador showcased Guyana’s unique proactive approach to addressing food security and trade imbalances. Among them, President Irfaan Ali’s “25 by 25” Food Security Initiative, aiming to reduce CARICOM’s $6 billion food import bill by 25 per cent by the end of 2025.

Ambassador Ramsammy addressed the significant increases in Guyana’s agricultural budget, rising from about $65 million in 2019 to approximately $600 million in 2024. He also cited the highly anticipated projected increases in rice production to over 700,000 tons in 2024.
Still on the matter of agriculture, Ambassador Ramsammy outlined plans for Guyana to meet 100 per cent of its soya and corn needs by 2026/2027 and become an exporter by 2028. Moreover, he discussed the introduction of new crops to reduce imports and boost exports, including millet, beans, potatoes, onions, garlic, grapes, wheat, and quinoa.

Ambassador Ramsammy also highlighted Guyana’s achievements in climate action and the Blue Economy. He addressed Guyana’s immense success in selling certified carbon credits, earning $750 million. Topics such as mangrove restoration efforts and promotion of small enterprises in the Blue Economy sector were discussed. Moreover, he mentioned the 755 per cent increase in brackish shrimp production between 2021 and 2023.
As the WTO assess the development of global trade, Guyana’s active participation and innovative approaches to food security, climate action, and economic diversification position the country as a key player in shaping more inclusive and sustainable trade policies for developing nations.