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Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

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Figure 5- Exports of F&V to the US, EU and CARICOMArguably, there<strong>for</strong>e, the existence of this free tra<strong>de</strong> arrangement along with acomparatively less stringent food safety regime in CARICOM, together explains asignificant proportion of increasing exports to this market compared to the markets ofthe US and EU.6. CONCLUSIONGuyana is seeking to expand exports of non-traditional agricultural products to placateinstabilities in the agriculture sector associated with a changing external tra<strong>de</strong> policyenvironment, notably, re<strong>for</strong>ms in EU tra<strong>de</strong> policy and the emerging „spaghetti bowl‟ ofWTO- compatible regional trading arrangements; and <strong>de</strong>clining terms of tra<strong>de</strong> <strong>for</strong>primary commodities.Key non-traditional exports of economic interest to the country are fruits and vegetablessuch as pineapple, pepper (wiri wiri), papaya and plaintain as well as aquaculture.In<strong>de</strong>ed, agricultural diversification into non-traditional exports, such as F&V, presentspromising prospects <strong>for</strong> income generation. Such products have a high income elasticityof <strong>de</strong>mand and lower price volatility than many traditional export commodities (World21

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