Guyana to proactively engage US administration to protect trade interest – Jagdeo

With Guyana relying heavily on exports for sustained economic growth, the government must proactively remain engaged in diplomatic discussions with the United States (US) to protect not only Guyana’s trade interest, but the wider Caribbean region.

This point was underscored by the General Secretary of the People’s Progressive Party (PPP), Dr Bharrat Jagdeo in response to a question fielded during his weekly press conference held last Thursday at Freedom House, Georgetown.

He explained that the US, because of its large economy, can drive economic growth from internal demand. Even large economies like China could not have achieved this in past, but have gradually shifted towards domestic demand.

“Small countries cannot do that. They rely heavily on export markets for their products to enhance prosperity. That is why we have to keep our rates competitive,” he informed reporters.

Dr Jagdeo elaborated further, noting that small countries like in the Caribbean region must ensure industries like the agriculture and manufacturing are structured competitively, to survive in the international market.

While President Donald Trump has focused on trade tensions with China, Canada, Mexico and the European Union (EU), Jagdeo highlighted that there has been no direct indication that he wants to change trade terms for the Caribbean.  

However, “We are looking at all of these issues. Clearly, we have to remain engaged in the with the US government in ensuring that there is for the Caribbean countries, particularly a favorable environment for our trade with the US,” the general secretary, who serves as vice president, emphasised.

He reminded that special trade arrangements between the Caribbean and US have historically existed, and Guyana must work to prevent these from being eroded.

“And it requires probably lobbyists not just for Guyana, but also for the region to engage with the new US administration to ensure that those complexities are ours or in their thinking when they announce trade policies,” he asserted.