Private Sector discusses trade, tariff woes with Foreign Minister

Stakeholders in the local Private Sector recently engaged the Guyana Government to review a number of key trade and tariff matters that are affecting the country’s manufacturing sector.

During the meeting on Wednesday, Foreign Affairs and International Cooperation Minister Hugh Todd, and senior Ministry trade advisors held discussions on areas of concerns raised by officials from the Private Sector Commission (PSC) and the Guyana Manufacturing and Services Association (GMSA).
There was also a briefing on the outcomes from the 62nd Meeting of the Caribbean Community’s 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 COTED meeting was held at the Caricom Secretariat in Georgetown back in June.
According to the PSC, the Private Sector representatives also highlighted industry data and concerns on several specific areas. These include refined white sugar, with both the PSC and GMSA reiterating that extra-regional Common External Tariff (CET) waivers should remain in place until regional refiners can demonstrate the capacity to meet required grades, volumes, and international standards.
They noted that the potential entry of a new local refining operation is being explored in Guyana and may require a review of the tariff position.
That local operation is the US$20 million white sugar refinery at the old sugar estate at Wales, West Bank Demerara, being undertaken by Guyanese company GAICO, in collaboration with United States-based Sucro Limited.
The project, officially known as Demerara Sugar Refinery Inc, will transform raw sugar into value-added refined sugar. Expected to process 100,000 tonnes annually, the facility aims to replace imported white sugar and supply the wider Caribbean market.
Just last month, GAICO Chief Executive Officer Komal Singh said they were in the process of decommissioning the sugar estate. That plant, he said, is being torn down and will be outfitted with a brand-new equipment for the white sugar refinery, which is likely to be completed by the first half of next year.

Glass packaging
Another issue raised during Wednesday’s engagement is the glass packaging capacity within the Region. The Private Sector officials noted that supply capacity, delays, product variety and quality, and the proposed 15 per cent CET on glass bottles were all discussed.
They pointed out that previous assessments found that local supply could not meet the required level of demand. To this end, it was noted that 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.
The Caribbean Private Sector Organisation (CPSO), Caricom’s private sector arm, and Carib Glassworks Limited – a subsidiary of the ANSA McAL Group based in Trinidad and Tobago, had previously proposed the imposition of a 15 per cent import tariff on glass bottles sourced from outside the Caricom region in an apparent push for local protection.
However, this proposal had been strongly opposed by regional groups such as the West Indies Rum and Spirits Producers Association (WIRSPA) and local Private Sector bodies, including the GMSA and the PSC, which have argued such a tariff could drive packaging and operational expenses for many regional food and beverage producers.

Tariffs on paint
Meanwhile, the meeting between Minister Todd and the Private Sector representatives also addressed Caricom’s decision to suspend the planned 35 per cent 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.
The tariff was first proposed at the June 2025 COTED meeting – something which Guyana has objected to on two separate occasions following concerns over the Region’s inability to meet local demand and price hikes for buyers across the Caribbean.
According to a report from La Caribeña News, regional leaders decided at the recent COTED meeting to suspend the rollout of the tariff and ordered a fresh assessment of regional demand, supply, and production before anything is implemented.
Nevertheless, following Wednesday’s meeting, the PSC said Minister Todd and the Ministry’s technical team favourably 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.
It was further noted that the PSC, the GMSA and the 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.