The major focus of USAID’s economic growth programme over the period 2009-2013 will be to assist Guyana in its effort to enhance competitive advantage in international markets, and to rapidly increase the value of its non-traditional exports as measured by the percentage change in the value of those exports.
This is according to the USAID’s country strategy with Guyana for the aforementioned period.
The paper also states that this objective will be achieved by promoting linkages with international markets, supporting reform in critical policy areas to improve the trade and investment environment, building capacity of key private and public sector organisations, and strengthening the dialogue between the public and private sectors.
The document said that it is expected that these and similar efforts will result in a markedly higher competitive advantage and a rapid and sustained increase in high-value non-traditional exports.
“These expected results are based upon four critical assumptions.”
Firstly, the absence of political violence and civil strife in Guyana; government’s sustained commitment to improving the country’s competitive advantage in international markets and to supporting a forward-looking dialogue with the private sector; no prolonged downturn in the regional and world economy and Guyana’s commitment to relative macroeconomic stability; and the need to reduce the cost of business transactions as reflected in its progress toward eligibility for MCA compact status through the two-year Guyana MCC Threshold Country Programme.
“As described in the U.S. Foreign Assistance Framework, and as detailed in the 2007-2012 Strategic Plan for the U.S. Department of State and USAID, one of the U.S. strategic objectives is to promote economic growth and prosperity in assisted countries by strengthening private markets, promoting trade and investment, and stimulating agricultural development.”
Guyana, the document added, is classified as a “Developing Country”, with a graduation trajectory of advancing to the “Transforming Country” category.
Programme area priorities in such countries include improvements in enabling and business environments and expansion of productive capacity in key sectors.
“Based on those documents and on the supplemental reference regarding the foreign assistance standardised programme structure and definitions, USAID/Guyana’s economic growth programme as outlined in the present strategy is at the heart of the U.S. strategic economic development objective and related areas of intervention.”
Equally important, it stated, the programme supports a critical goal in the U.S. Mission to Guyana’s FY 2010 Strategic Plan: Encouraging Market-Directed Socially-Responsible Growth which emphasises economic competitiveness and institutional reform to create favorable conditions for increased exports.
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