RESTRICTED WT/TPR/S/282 22 April 2013 (13-2056) Page: 1/78 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT SURINAME This report, prepared for the second 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 Messrs John Finn (tel: 022/739 5081), Michael Kolie (tel: 022/739 5931), and Bernard Kuiten (tel: 022/739 5676). Document WT/TPR/G/282 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/282 • Suriname - 2 - CONTENTS SUMMARY ........................................................................................................................ 6 1 ECONOMIC ENVIRONMENT .......................................................................................... 8 1.1 Overview .................................................................................................................. 8 1.2 Recent Economic Developments.................................................................................. 10 1.3 Developments in Trade .............................................................................................. 13 1.4 Developments in Investment ...................................................................................... 15 2 TRADE POLICY REGIME: FRAMEWORK AND OBJECTIVES .......................................... 17 2.1 Introduction ............................................................................................................. 17 2.2 General Constitutional and Legal Framework ................................................................ 18 2.3 Development and Administration of Trade Policy ........................................................... 19 2.3.1 Agencies involved in trade policy implementation ....................................................... 19 2.4 Trade Policy Objectives ............................................................................................. 20 2.4.1 General trade policy objectives ................................................................................ 20 2.4.2 Sectoral trade policy objectives ................................................................................ 22 2.5 Trade Agreements and Arrangements .......................................................................... 22 2.5.1 Multilateral agreements .......................................................................................... 22 2.5.2 Regional agreements .............................................................................................. 23 2.5.2.1 CARICOM ........................................................................................................... 23 2.5.2.2 CARICOM bilateral agreements.............................................................................. 24 2.5.2.3 Non-reciprocal arrangements ................................................................................ 24 2.5.3 Bilateral agreements .............................................................................................. 24 2.6 Trade disputes and consultations ................................................................................ 24 2.6.1 Foreign investment regime ...................................................................................... 24 3 TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 27 3.1 Measures Directly Affecting Imports ............................................................................ 27 3.1.1 Registration and customs procedures ........................................................................ 27 3.1.2 Customs valuation ................................................................................................. 28 3.1.3 Tariffs and other charges ........................................................................................ 28 3.1.3.1 MFN tariff levels and structure .............................................................................. 28 3.1.3.2 Other duties and charges ..................................................................................... 31 3.1.3.3 Bindings in the WTO ............................................................................................ 32 3.1.3.4 Preferential tariffs ............................................................................................... 32 3.1.4 Internal taxes affecting imports ............................................................................... 32 3.1.5 Rules of origin ....................................................................................................... 33 3.1.6 Import prohibitions, restrictions, and licensing ........................................................... 33 3.1.7 Contingency measures ........................................................................................... 33 3.1.8 Standards and technical regulations ......................................................................... 33 3.1.9 Sanitary and phytosanitary measures ....................................................................... 34 3.2 Measures Directly Affecting Exports ............................................................................. 36 WT/TPR/S/282 • Suriname - 3 - 3.2.1 Procedures ........................................................................................................... 36 3.2.2 Export taxes, charges, levies, and minimum prices ..................................................... 36 3.2.3 Export prohibitions, restrictions, and licensing ............................................................ 36 3.2.4 Export subsidies and incentives................................................................................ 36 3.2.5 Export promotion, finance, insurance, and guarantees ................................................ 36 3.3 Measures Affecting Production and Trade ..................................................................... 37 3.3.1 Incentives ............................................................................................................ 37 3.3.2 Business registration and licensing ........................................................................... 37 3.3.3 Competition policy and price controls ........................................................................ 38 3.3.3.1 Competition policy .............................................................................................. 38 3.3.3.2 Price controls ..................................................................................................... 38 3.3.4 Government procurement ....................................................................................... 39 3.3.5 State-trading, state-owned enterprises, and privatization ............................................ 40 3.3.6 Intellectual property rights ...................................................................................... 40 4 TRADE POLICIES BY SECTOR ..................................................................................... 43 4.1 Agriculture .............................................................................................................. 43 4.1.1 Trade ................................................................................................................... 44 4.1.2 Policies ................................................................................................................. 44 4.1.2.1 Rice .................................................................................................................. 45 4.1.2.2 Bananas ............................................................................................................ 47 4.1.2.3 Livestock ........................................................................................................... 48 4.1.2.4 Fruits and vegetables .......................................................................................... 48 4.2 Fisheries ................................................................................................................. 48 4.2.1 Features ............................................................................................................... 48 4.2.2 Policies ................................................................................................................. 50 4.3 Minerals .................................................................................................................. 50 4.3.1 Petroleum and gas ................................................................................................. 52 4.3.2 Bauxite and aluminium ........................................................................................... 52 4.3.3 Gold .................................................................................................................... 53 4.4 Financial Services ..................................................................................................... 54 4.4.1 Banks .................................................................................................................