Guyana Wary Of New WTO Proposal

Guyana’s Minister of Foreign Trade and International Cooperation has let out a warning that the World Trade Organization’s (WTO) recent proposed cut of the Most Favored Nations (MFN) rate for rice could badly hurt the rice industry in Guyana and the neighboring Suriname.

Guyana and Suriname were the only rice-producing countries during the African, Caribbean and Pacific (ACP) countries' negotiations for the Economic Partnership Agreement (EPA) with Europe.

Minister Jeffrey said the Guyana government's proposal, sent to the WTO, is that rice be treated like bananas since that commodity, although a tropical product has enjoyed long traditional preferences.