Local private sector engages Foreign Affairs Ministry on trade & tariff issues 

The Private Sector Commission (PSC) and the Guyana Manufacturing & Services Association (GMSA) met Wednesday with Minister of Foreign Affairs and International Cooperation, Hugh Todd, and senior ministry trade advisors to review key trade and tariff matters affecting Guyana’s manufacturing sector.

The meeting included a briefing on outcomes from the 62nd Meeting of the Council for Trade and Economic Development (COTED), including discussions on the CARICOM Single Market and Economy (CSME), regional supply chains and tariff regimes under Article 164.

The private sector also presented industry data and concerns on several specific areas:

• Refined White Sugar: The PSC and GMSA reiterated that extra-regional CET waivers should remain in place until regional refiners can demonstrate the capacity to meet required grades, volumes and international standards. The potential entry of a new local refining operation was explored and may require a review of the tariff position.

• Glass Packaging: Supply capacity, delays, product variety and quality, and the proposed 15% CET on glass bottles were all discussed. It was noted that previous assessments found that local supply could not meet the required level of demand. The Ministry supported the need for a new, independent assessment and acknowledged concerns that the proposed tariff could disproportionately benefit a single company and limit competition.

• Paint Tariffs: The meeting also addressed CARICOM’s decision to suspend the planned 35% CET on imported paints and varnishes, which was scheduled to take effect on July 1, 2026. The tariff increase is being reviewed following concerns raised by Guyana regarding its potential impact on prices, supply and consumers.

Minister Todd and the Ministry’s technical team favorably received the private sector’s submissions and reaffirmed that Government will consider the interests of domestic industries, local businesses and consumers when determining Guyana’s position on regional trade measures.

The PSC, GMSA and Ministry also agreed on the importance of strengthening ongoing technical engagement, with a proposal for meetings to be held more frequently to ensure that Guyana’s trade positions are informed by current industry realities.