MARKET REPORTS/STATISTICS International Trade Center

Guyana
Trade and Investment Data 1. Detailed data on the countrys export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP). Trade Performance Index Export Performance (HS) Import Profile (HS) Foreign investment statistics (FDI) Trade in goods statistics (HS) Trade in services statistics (BOP) Consistency of Trade Statistics 2. One topic that took my interest is the development challenges that are listed by the International Trade Center of my country. It says that despite the overall decline in agricultural output, the economy of Guyana has been growing thanks to an increase in the five main sectors: gold extraction, services, construction, wholesale and retail. The countrys global prices have increased, its external current account deficit and fiscal deficit have widened, while public debt has remained unchanged. The country is classified as a Highly Indebted Poor Country (HIPC) after writing off most of its debt. The country faces development challenges, including: A high cost of living Turbulent politics due to a ethno-cultural division Highly susceptible to adverse weather conditions and fluctuations in commodity prices Shortage of skilled labour Deficient infrastructure Very poor health conditions for a large part of the population Low service quality of the water and sanitation sectors

Product Maps 1. Find the latest ITC price report. Try to find wholesale price information.

The average export price per ounce of gold increased by 6.0 percent to US$1,575.4 per ounce from US$1,486.5 per ounce in 2011. 2. Explore on the other analysis tools. Market Access Map, Investment Map, Trade Competitiveness Map, and Standards Map review indicators on export performance, export and import statistics of 220 countries and territories and 5300 products of the Harmonized System. Also access information on specific sectors, including market studies, smart links and business contacts, and information on customs tariffs (import duties) and other measures applied by 190 importing countries to products from 239 countries and territories. 3. What other relevant information can you find in the P-maps? Export and Import values. Trademap www.trademap.org 1. Which were Guyanas top 3 exported product groups to the world in the latest years figure? The most recent top 3 exported products are: Pearls, precious stones, metals, coins, etc = 250,716 Cereals = 196,037 Sugars and sugar confectionery = 173,691 2. Out of the list, which product group show the highest growth in Guyana exports? Ships, boats and other floating structures = 10,500 (exportations growth in value) 3. Among Guyanas most exported products, which countries are the biggest competitors for that product? Hong Kong, China = 77,557,156 United States of America = 71,664,266 China = 45,451,332 India = 43,089,690 United Kingdom = 37,465,019 4. Find relevant trade data for a product of your own interest! Wood and articles of wood, wood charcoal Trade Data (2012 estimates) Exported value = 43,576 Imported value = 6,111 Trade balance value = 37,465 Top spot:

Wood sawn/chipped lengthwise, sliced/peeled with 15,459 balance in value

World Trade Organization 1. Who and what is the WTO? What do they do? The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTOs current work comes from the 198694 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the Doha Development Agenda launched in 2001. Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. But the WTO is not just about opening markets, and in some circumstances its rules support maintaining trade barriers for example, to protect consumers or prevent the spread of disease. At its heart are the WTO agreements, negotiated and signed by the bulk of the worlds trading nations. These documents provide the legal ground rules for international commerce. They are essentially contracts, binding governments to keep their trade policies within agreed limits. Although negotiated and signed by governments, the goal is to help producers of goods and services, exporters, and importers conduct their business, while allowing governments to meet social and environmental objectives. The systems overriding purpose is to help trade flow as freely as possible so long as there are no undesirable side effects because this is important for economic development and well-being. That partly means removing obstacles. It also means ensuring that individuals, companies and governments know what the trade rules are around the world, and giving them the confidence that there will be no sudden changes of policy. In other words, the rules have to be transparent and predictable. Trade relations often involve conflicting interests. Agreements, including those painstakingly negotiated in the WTO system, often need interpreting. The most harmonious way to settle these differences is through some neutral procedure based on an agreed legal foundation. That is the purpose behind the dispute settlement process written into the WTO agreements. What they do While the WTO is driven by its member states, it could not function without its Secretariat to coordinate the activities. The Secretariat employs over 600 staff, and its experts lawyers, economists, statisticians and communications experts assist WTO members on a daily basis to ensure, among other things, that negotiations

progress smoothly, and that the rules of international trade are correctly applied and enforced. Trade negotiations The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalization, and the permitted exceptions. They include individual countries commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets. They set procedures for settling disputes. These agreements are not static; they are renegotiated from time to time and new agreements can be added to the package. Many are now being negotiated under the Doha Development Agenda, launched by WTO trade ministers in Doha, Qatar, in November 2001. Implementation and monitoring WTO agreements require governments to make their trade policies transparent by notifying the WTO about laws in force and measures adopted. Various WTO councils and committees seek to ensure that these requirements are being followed and that WTO agreements are being properly implemented. All WTO members must undergo periodic scrutiny of their trade policies and practices, each review containing reports by the country concerned and the WTO Secretariat. Dispute settlement The WTOs procedure for resolving trade quarrels under the Dispute Settlement Understanding is vital for enforcing the rules and therefore for ensuring that trade flows smoothly. Countries bring disputes to the WTO if they think their rights under the agreements are being infringed. Judgements by specially appointed independent experts are based on interpretations of the agreements and individual countries commitments. Building trade capacity WTO agreements contain special provision for developing countries, including longer time periods to implement agreements and commitments, measures to increase their trading opportunities, and support to help them build their trade capacity, to handle disputes and to implement technical standards. The WTO organizes hundreds of technical cooperation missions to developing countries annually. It also holds numerous courses each year in Geneva for government officials. Aid for Trade aims

to help developing countries develop the skills and infrastructure needed to expand their trade. Outreach The WTO maintains regular dialogue with non-governmental organizations, parliamentarians, other international organizations, the media and the general public on various aspects of the WTO and the ongoing Doha negotiations, with the aim of enhancing cooperation and increasing awareness of WTO activities.

2. How many countries are members of the WTO? Which country/(ies) is/are the newest member? When did she/they become a member? There are 159 members as of March 02, 2013. The newest members with their date of membership: Lao Peoples Democratic Republic = Tajikistan =

February 02, 2013 March 02, 2013

3. Go to Documents and Resources and record the things/issues that you found most interesting, and why? Under Documents and Resources then WTO Publications, I found a book about The History and Future of the World Trade Organization by Craig VanGrasstek. It describes the history and future of the World Trade Organization which is a comprehensive account of the economic, political and legal issues surrounding the creation of the WTO and its evolution. Fully illustrated with colour and black-andwhite photos dating back to the early days of trade negotiations, the publication reviews the WTO's achievements as well as the challenges faced by the organization, and identifies the key questions that WTO members need to address in the future. It stole my attention due to the book describing the intellectual roots of the trading system, membership of the WTO and the growth of the Geneva trade community, trade negotiations and the development of coalitions among the membership, and the WTOs relations with other international organizations and civil society. There are several PDF files that are essential to business students like me. I would also recommend this to the fellow students studying commerce. Also covered are the

organization's robust dispute settlement rules, the launch and evolution of the Doha Round, the rise of regional trade agreements, and the leadership and management of the WTO.

4. Search for issues, news, information that is most relevant to the country assigned to you. DISPUTE SETTLEMENT: DISPUTE DS266 European Communities Export Subsidies on Sugar Guyana, which is my country, is a third party in this dispute.
Short title: Complainant: Respondent: Third Parties: EC Export Subsidies on Sugar Brazil European Communities Australia; Barbados; Belize; Canada; China; Colombia; Cuba; Fiji; Guyana; India; Jamaica; Kenya; Madagascar; Malawi; Mauritius; New Zealand; Paraguay; Saint Kitts and Nevis; Swaziland; Tanzania; Thailand; Trinidad and Tobago; United States; Cte dIvoire

On 27 September 2002, Australia and Brazil requested consultations with the European Communities concerning the export subsidies provided by the EC in the framework of its Common Organisation of the Market for the sugar sector. The requests concerned Council Regulation (EC) No. 1260/2001 of 19 June 2001 on the ECs common organization of the markets in the sugar sector, and all other legislation, regulations, administrative policies and other instruments relating to the EC regime for sugar and sugar containing products including the rules adopted pursuant to the procedure referred to in Article 42(2) of Council Regulation (EC) No. 1260/2001, and any other provision related thereto. On 14 March 2003, Thailand requested consultations with the European Communities on the same matter. According to Brazil, the EC provides, under Council Regulation (EC) No. 1260/2001, export subsidies for sugar and sugar containing products above its reduction commitment levels specified in Section II of Part IV of its Schedule of Concessions. Brazil explained that the EC intervention price system for sugar guarantees a high price for the sugar that is produced within certain production quotas (A and B quotas). Sugar produced in excess of these quotas (so-called C sugar) cannot be sold internally in the year in which it is produced: it must be exported or carried over to fulfil the following years production quotas. Under the ECs common organization

of the sugar market and its regulatory framework, exporters of C sugar are able to export C sugar at prices below its total cost of production. In addition, according to the ECs Schedule for sugar and the agricultural notifications submitted by the EC to the WTO for marketing years 1995/1996 through 2000/2001, the EC provides export subsidies in excess of its commitments to approximately 1.6 million tons of sugar per year. The export subsidies provided by the EC (referred to in the EC Council Regulation (EC) No. 1260/2001 as export refunds) cover the difference between the world market price and the high prices in the Community for the products in question, thus enabling those products to be exported. Brazil also believed that the EC sugar regime accords less favourable treatment to imported sugar and is thus in violation of Article III:4 of the GATT 1994.