The Guyana Coalition of Services Providers is being revived, according to the Ministry of Foreign Affairs, which says a new board of directors is in place and a one-year work plan is being implemented.
In a notice issued on Friday, the ministry noted that the coalition, which comprises associations and government entities works collaboratively to improve the business climate for services providers and to foster growth in services trade and investment, had been established in 2010.
It said efforts to resuscitate the coalition have also resulted in the revision of the body’s constitution, the election of a new board of directors, as well as the addition of several associations.
The notice also said the ministry has begun to conduct sector-consultations, meetings with potential members, discussions with previous members of the board, efforts to submit outstanding requirements under the Companies Act to the Deeds and Commercial registry, and the establishment of an Interim Management Committee. While the body allows for the participation of private sector associations and government entities, it added, individual services providers are allowed to join as provisional members until they are able to join an association.
“Such a body is central to supporting Guyana’s foreign trade policy in the area of services, providing a mechanism to engage with services providers; helping to address domestic legislative gaps that hinder services exports; building the capacity of services providers to access foreign markets and to compete in the domestic market; finding innovative ways to support services trade; and being a voice for greater local content of services providers in the emerging oil and gas sector,” it explained.
It added that the services sector is the leading contributor to Guyana’s Gross Domestic Product (GDP), accounting for approximately 48% of GDP in 2018. With the recent discovery of petroleum resources, it noted that the diversification of the country’s economic base remains crucial. While the growth trajectory for services is favourable, it ministry explained, its potential could be hindered without an injection of relevant education, training, and supportive legislative frameworks.
Based on a needs assessment, the ministry said the recently elected board has developed a work plan for July 2019 to July 2020, which includes a World Trade Organization (WTO) Trade in Services Workshop that is scheduled for November 4 to November 5, 2019.
It added that associations or individual services providers interested in joining the Coalition can contact the Department of Foreign Trade of the Ministry of Foreign Affairs at admingcsp@migov.gy.
