CARIFORUM and UK EPA Study

However, while all CARIFORUM States enjoyed some amount of comparative advantage in at least two or more export services sectors, Guyana appeared to be the clear winner, demonstrating both comparative advantages and strong competitive margins across the Financial Services, Charges for the use of IP, Insurance and Pension services, Telecommunications, Computer and Information services and Other Business services, suggesting that there exists a significant amount of untapped potential for Guyana in the export of services to the UK market. The trade in value added analysis conducted on the UK revealed that its economy, while largely services driven, offered less opportunities for value chain participation by foreign services providers in the production and supply of services at the back-end, than there were potential synergies at the front-end through the distribution (e.g., retailing or re-export) of UK services output. In relative terms, the top five services based activities that offered the strongest margins for the participation of foreign services providers were Financial and Insurance activities, Publishing, Audiovisual and Broadcasting services, Transportation and Storage, Telecommunications and Construction services. However, based on the proportional contribution of imported services to several economic activities within the UK, there are greater opportunities for CARIFORUM to supply services to the UK’s manufacturing and industrial based sectors, than in the purely services based activities. The top five sectors open to foreign participation included the production of Other Transport Equipment, Motor Vehicles, Trailers and Semi-trailers, Basic Metals, Electrical Equipment and Computer, Electronic and Optical Products, which suggests areas of immediate scope for value chain penetration by CARIFORUM States, due to the wider margins that are available for the supply of foreign content. At the same time, it should be noted that the top five manufacturing and industrial sectors which had highest demand for services inputs, irrespective of source, were those in the production of (excluding motor vehicles, trailers and semi-trailers) Food, Beverages and Tobacco, Basic Metals (e.g. bauxite/aluminium), Other Non-metallic Mineral Products (e.g., limestone), Paper Products

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