Discussions ongoing for increased bilateral trade with Brazil
Guyana Chronicle
May 11, 2007
MINISTER of Foreign Trade and International Cooperation, Dr. Henry Jeffrey has said that discussions are ongoing with various local private sector firms which may be able to take advantage of the trade links between Guyana and Brazil.
He told the Government Information Agency (GINA) the trading will be facilitated through Bon Fim, which has been declared a Brazilian port of entry but is not yet operational because procedural matters, such as insurance and Customs arrangements, are to be addressed in the current system mainly dominated by Brazil.
Jeffrey said the new agreement will strengthen trade between the two South American states, as Guyana’s export capacity to Brazil through the Boa Vista route has been negligible, mainly due to high transport costs.
GINA said Guyana negotiated with the Brazil authorities under the Land Cargo Transport Agreement for the establishment of the Bon Fim port of entry and, during a recent visit there, Jeffrey exhorted the Region Nine (Upper Takutu/Essequibo) community to utilise the two-year extension of the Guyana-Brazil Partial Scope Agreement.
Benefits from that deal include duty free access for more than 176 products, in light of the new developments, GINA said.
The compact, which was ratified in May 2004, refers to the exchange of tariff preferences on specified products among signatories to it until May 2008, with the aim of fostering bilateral trade between the signatory countries, with the increased participation of the private sector, GINA said.
According to the agency, the products traded by Guyana include rice, sugar, bottled rum, copra, red pepper, plywood, PVC pipes, corrugated cardboard, paper towels, chemical paper, aluzinc sheets, calcined bauxite and a wide range of primary agricultural produce.
On the Brazilian side, the list spawns capital goods, such as machinery and parts, building materials, industrial and electronic equipment, medicines and new tyres, GINA reported.
It said the recent recommencement of construction on the Takutu River Bridge and a multi-purpose centre are among the major developments on which the Guyana Government has put focus, in anticipation of increased trade with Brazil.