Georgetown: The time taken for the processing of licences, necessary permits and other documentation for businesses to operate in Guyana and Suriname has been identified as one of the major hindrances to investments in both countries.
This was said to be the leading issue raised by those in attendance at the first-ever Guyana- Suriname Trade Conference, which recently concluded on Saturday at the Guyana International Conference Centre, Liliendaal.
Speaking at a press conference on Friday evening at the Park Vue Hotel, delegates from both countries pointed out that the issue of timely processing dominated the discussion at their meetings.
Private Sector Commission (PSC) Trade and Investment Chairman and Caribbean Association of Industry and Commerce (CAIC) President, Ramesh Dookhoo told media operatives that in order for this to be achieved, there were many things which must first be addressed and harmonised in both countries.
“The Surinamese expressed to us that that they wanted open borders. When they say ‘open borders’, it means that we must harmonise our taxation policies, harmonise our standards, harmonise our products and services offered, and all the regimes that go with manufacturing. Guyana is a very far way from harmonising its taxation policies and this is a major block in creating partnerships and that is why we need to push for action for these to be regulated,” Dookhoo noted.
Long and tiresome
Suriname Chamber of Commerce and Industry (SCCI) Vice President Anilkumar Padarath explained that this was the biggest concern of the Surinamese business community and it was having an impact on the Guyanese economy as well.
“The timeline which we have to deal with in terms of getting our permits and other documentations ready is quite an issue to us in Suriname, because we want to do trade here in Guyana, but the process is long and tiresome,” he related.
Several other trade barriers were discussed, including the importance of having the Guyana- Suriname Bridge (Corentyne River Bridge, since it will reduce the time taken to transport goods from one country to the other; the policies of vehicles crossing at the borders and the long associated checking process as well as the cost of energy.
On the list also was the issue of smuggling and according to the Vice President of the Suriname Chamber of Commerce, Guyana needed to open its borders to allow for a freer exchange of goods and services, since it was the country which stood to lose the most from smuggling activities.
“We also have to look at the policies to address smuggling. It is taking away from the Guyanese economy. If you have open borders, there will be no illegal anything,” the Surinamese official said.
Based on analysis, it takes 22 and 19 days respectively to complete Customs paperwork in Guyana and Suriname. The preparation of documents takes 10 days in Suriname and 11 in Guyana, while Customs clearance and inspections take four and five days respectively.
However, it was announced that the Guyana Revenue Authority (GRA) has put a system in place whereby businesses in Suriname no longer have to travel to Georgetown to have Customs paperwork processed as this can be done in Berbice.
Nonetheless, Dookhoo said the Private Sectors in both countries can help in getting the issues highlighted so that at the policy level, requisite changes can be made.
The officials informed the media operatives that they have made note of issues faced by businesses and have been mandated by their respective Governments to document these.
“We have been asked to ensure that all the issues raised are well-documented. After this is done, a team will be set up to assess the complaints and recommendations made and to see where the Governments can facilitate policy changes to ensure the desired outcomes are met.
“The Ministers and the President have promised that they are committed to seeing the issues raised resolved as best as possible in a timely manner,” Dookhoo disclosed.
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