RESTRICTED WT/TPR/S/391 7 August 2019

RESTRICTED WT/TPR/S/391 7 August 2019 (19-5090) Page: 1/75 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT SURINAME This report, prepared for the third Trade Policy Review of Suriname, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Suriname on its trade policies and practices. Any technical questions arising from this report may be addressed to Arne Klau (tel: 022 739 5706) and Bernard Kuiten (tel: 022 739 5676). Document WT/TPR/G/391 contains the policy statement submitted by Suriname. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Suriname. This report was drafted in English. WT/TPR/S/391 • Suriname - 2 - CONTENTS SUMMARY ........................................................................................................................ 6 1 ECONOMIC ENVIRONMENT ........................................................................................ 10 1.1 Main Features of the Economy .....................................................................................10 1.2 Recent Economic Developments ...................................................................................11 1.3 Developments in Trade and Investment ........................................................................13 1.3.1 Trends and patterns in merchandise and services trade ................................................13 1.3.2 Trends and patterns in FDI .......................................................................................13 2 TRADE AND INVESTMENT REGIMES........................................................................... 16 2.1 General Framework ....................................................................................................16 2.2 Trade Policy Formulation and Objectives ........................................................................17 2.3 Trade Agreements and Arrangements ...........................................................................19 2.3.1 WTO ......................................................................................................................19 2.3.2 Regional and preferential agreements ........................................................................20 2.3.3 EU–CARIFORUM Economic Partnership Agreement .......................................................21 2.4 Investment Regime ....................................................................................................21 3 TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 24 3.1 Measures Directly Affecting Imports ..............................................................................24 3.1.1 Customs procedures, valuation, and requirements .......................................................24 3.1.2 Rules of origin .........................................................................................................25 3.1.3 Tariffs ....................................................................................................................25 3.1.3.1 Applied MFN tariff .................................................................................................25 3.1.3.2 Bindings ..............................................................................................................28 3.1.3.3 Preferential tariffs .................................................................................................29 3.1.3.4 Exemptions and concessions ..................................................................................29 3.1.3.5 Other duties and charges .......................................................................................29 3.1.4 Other charges affecting imports .................................................................................29 3.1.5 Import prohibitions, restrictions, and licensing ............................................................30 3.1.6 Anti-dumping, countervailing, and safeguard measures ................................................32 3.1.7 Other measures affecting imports ..............................................................................32 3.2 Measures Directly Affecting Exports ..............................................................................32 3.2.1 Customs procedures and requirements .......................................................................32 3.2.2 Taxes, charges, and levies ........................................................................................33 3.2.3 Export prohibitions, restrictions, and licensing .............................................................33 3.2.4 Export support and promotion ...................................................................................34 3.2.5 Export finance, insurance, and guarantees ..................................................................34 3.3 Measures Affecting Production and Trade .......................................................................34 3.3.1 Incentives ...............................................................................................................34 3.3.2 Standards and other technical requirements ...............................................................34 3.3.3 Sanitary and phytosanitary requirements ....................................................................36 WT/TPR/S/391 • Suriname - 3 - 3.3.4 Competition policy, price controls, consumer protection ................................................38 3.3.5 State trading, state-owned enterprises, and privatization .............................................38 3.3.6 Government procurement .........................................................................................38 3.3.7 Intellectual property rights ........................................................................................39 4 TRADE POLICIES BY SECTOR ..................................................................................... 42 4.1 Agriculture, Forestry, and Fisheries ...............................................................................42 4.1.1 Agriculture ..............................................................................................................42 4.1.1.1 Features ..............................................................................................................42 4.1.1.2 Trade ..................................................................................................................43 4.1.1.3 Policies ................................................................................................................44 4.1.1.3.1 General .............................................................................................................44 4.1.1.3.2 Trade policies ....................................................................................................45 4.1.1.3.3 Domestic policies ...............................................................................................45 4.1.2 Fisheries .................................................................................................................48 4.1.2.1 Features ..............................................................................................................48 4.1.2.2 Policies ................................................................................................................50 4.1.3 Forestry ..................................................................................................................52 4.2 Mining and Energy ......................................................................................................54 4.2.1 Mining ....................................................................................................................54 4.2.1.1 Gold ....................................................................................................................56 4.2.1.2 Bauxite ................................................................................................................58 4.2.2 Hydrocarbons ..........................................................................................................58 4.3 Manufacturing ............................................................................................................59 4.4 Services ....................................................................................................................59 4.4.1 General ..................................................................................................................59 4.4.2 Financial services .....................................................................................................60 4.4.2.1 Overview .............................................................................................................60 4.4.2.2 Regulatory framework ...........................................................................................60 4.4.2.3 Banks ..................................................................................................................61 4.4.2.4 Insurance services ................................................................................................62 4.4.2.5 Other financial services ..........................................................................................62

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