It probably comes as a surprise to Guyanese consumers that the issue of sub-standard Chinese goods was raised at a recent Guyana/China forum in Port of Spain and that the Chinese state agency responsible for ensuring the smooth functioning of Guyana/China trade and economic relations has agreed to investigate the matter.
When the Third Caribbean-China Economic and Trade Cooperation Forum opened in Port of Spain earlier this week several Caribbean Heads of Government set aside their alternative schedules to be there, not the customary occurrence in a region where subject ministers are, more often than not, sent to represent their governments at such fora.
Guyana’s coconut exports continue to attract markets in the Caribbean and North America according to the Ministry of Agriculture’s Commodity Market Update for the second quarter of this year though prices slipped gradually but continually during the first six months of the year.
Just weeks after the Jagdeo administration’s announcement that it was making yet another generous financial gesture to a Georgetown City Council that simply never seems to possess the liquidity to meet even its most important debts, we are hearing again – at least according to the state-run Chronicle newspaper that the municipality is seeking to “recoup monies for the payment of salaries, garbage collection and the procurement of materials and supplies for the city.”
The Business Cartoon
By Marjorie Chester Is the increasing popularity of imported ready-made women’s clothing threatening the survival of Guyana’s dressmaking industry?
Latin American and Caribbean governments and private sectors must seek to ensure that Chinese companies “abide by the same market and non-market requirements as their western counterparts” as a condition for investing in the region,” says a study titled “Energy and the Americas” published earlier this month by the Americas Society and the Council of the Americas (AS/COA).
GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 425s trading results showed consideration of $9,637,409 from 130,419 shares traded in 5 transactions as compared to session 424 which showed consideration of $3,771,842 from 135,143 shares traded in 16 transactions.
Industry sources have told Stabroek Business that the Chinese telecommunications company Datang Telecom Technology & Industry Group could be favoured by government to acquire its 20 per cent shareholding in GT&T, which it had indicated an interest in selling some time ago.
High employment costs as a percentage of the overall operating costs of the Guyana Sugar Corporation (GuySuCo) point unerringly at the bind in which the sugar industry finds itself as it chases a 2011 production target of less then 300,000 tonnes, which is what senior industry officials have said is the minimum requirement to make real economic sense.
Fertile Ground For many years now China has maintained a relationship with developing countries through its bilateral and multilateral diplomacy.
Figures published by the Ministry of Agriculture as part of its Second Quarter Commodity Market Update for this year indicate that tilapia farming continues to be both the most popular and the most profitable pursuit in the country’s growing aquaculture sector.
The Economic Commission for Latin America and the Caribbean (ECLAC) has sounded a warning that Asia, particularly China, may be in the process of throwing down a challenge to the United States for the title of principal trading partner with Latin America and the Caribbean.
Log production in the local forestry sector during the first half of this year fell below last year’s figure for the corresponding period by more than 34 per cent despite the significantly increased demand for wood products accounted for chiefly by the country’s accelerated housing drive.
Business Cartoons
Earlier this week during an event held to mark the launch of GuyExpo 2011, President Bharrat Jagdeo commented on the role that the annual product promotion event plays in providing a platform for the country’s small businesses to highlight their products and services.
GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 424’s trading results showed consideration of $3,771,842 from 135,143 shares traded in 16 transactions as compared to session 423 which showed consideration of $139,632 from 11,636 shares traded in 7 transactions.
Almost two weeks after a letter issued by the Guyana Forestry Commission (GFC) raised concerns about restrictions on the export of logs, stakeholders continue to debate how to ease the shortage of lumber and the impact it is having on housing construction and other sectors.
More than 30 local businesses are expected to participate in the Third Caribbean-China Economic Forum scheduled to take place in Port-of-Spain, Trinidad and Tobago from September 12 to 13.
The upbeat soundings among international banks and investment companies regarding the likely movement in the price of gold in the short to medium term are manifested in predictions ranging from US$2,000.00 an ounce by year end to one particular prediction of US$5,000.00 an ounce in the foreseeable future.
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