A sizeable proportion, however, are opposed to the strategy that would give other countries’ producers increased access to Guyana's markets while, at the same time, improve opportunities for local producers to export, the PSC said in a statement.

According to the PSC, resistance was most evident on the part of those involved in manufacturing or processing operations.

Among the more frequently given reasons for disagreement were the small size of the local economy, high costs of production and inefficiency, it said.

Professionals and service providers were much more positive towards trade liberalisation, the PSC said. Even of those favouring the strategy, however, a number expressed uncertainty over the economy's ability to adjust smoothly to the challenges - recommending it as something of a "tough love" approach that, while painful, would propel the country's industry into a more competitive stance.

The PSC said the question was included in the Policy Unit's regular monthly survey of business confidence. Again, respondents to that survey massively concluded that economic conditions have deteriorated over the past six months both for the country overall and for the sector in which they operate, the private sector body stated.

As in the previous survey, it said respondents expressed "a glimmering of optimism" concerning the future.

"Roughly one-third expressed a belief that things would get no worse or even improve over the coming months, (while) a slightly more positive stance was taken when asked about prospects in their own industries compared with the overall outlook for the country," the PSC said.