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Statement
by the Minister of Foreign Affairs of the Republic of Suriname HER EXCELLENCY MARIA E. LEVENS
Esteemed Dignataries, Allow me to express my appreciation to the Institute of Caribbean Studies for organizing this distinguished event in collaboration with the Caribbean Diplomatic Corps. May I thank you for the invitation to deliver a speech on behalf of the Government of the Republic of Suriname. I would also like to seize this moment to express my gratitude for granting me the opportunity to address this distinguished audience at such an important event which marks the celebration of the achievements of the Caribbean American community. I use this opportunity to extend my heartfelt congratulations to this year’s nominees for the Caribbean American Heritage Awards. Ladies and Gentlemen, It gives me great pleasure to make some remarks on the topic “Trade and Investment Opportunities in Suriname”. Suriname is small country situated at the north coast of South America. It is about 164000 square kilometers, as big as the State of Georgia here in the United States. Its population however is not even half a million. There is a census coming up next year, which will give us the up to date numbers. Apart from the 164000 square kilometers Suriname is strategic situated and has the Atlantic Ocean as its Northern boarder which gives us an exclusive economic zone of 130000 square kilometers. Both the natural resources on land and in the sea give us the 17th place on a ranking of rich countries in the world. But the most imported richdom we have is the people of Suriname. We need the people to work with this rather untouched richdom. That is why education and culture are top priorities in our country. With a more than 96% school attendance and 95% corps of qualified teachers, who have a teachers certificate of the 4 years teacher training college, Surinames population is well educated. Education is given in schools even behind the waterfalls in the deep interior where only corials can bring you. A country where 26 languages are spoken is rich in culture. Culture which covers the entire national personality, reflecting its civilization, history and distinctive heritage as well as the genius of the people itself. This cultural richdom is the basis of the political stability in the country. Opposition and coalition in the political life in Suriname both consist of all ethnic groups, while the mosk is nextdoor to the Christian church and the synagoge of the Jews. Suriname conserves this cultural richdom. The city of Paramaribo is now at the world herritage list of the Unesco and with one of the biggest natural reserves as heritage site in the region she is wellknown for her environmental policy. Within this poltical stable situation based on its cultural richdom it must be possible to develop the country. And the future is positive. The ingredients are there to combat poverty and built the country. Ladies and Gentlemen, As I have said earlier, recently the World Bank has ranked Suriname the 17th richest country in terms of its development potential, The present Government under the leadership of President Runaldo Ronald Venetiaan has been complimented by the International Monetary Fund in their “Article 4 Consultations Report” for having taken speedy measures in order to stimulate the development of the economy. Suriname is home to a variety of natural resources among which I would like to highlight the following sectors that are currently contributing significantly to the flourishing of our economy : NATURAL RESOURCES: The Mining Sector Owing to the fact that Suriname as a producer of alumina has the second lowest cost price in the World for this product, the expansion of activities in West-Suriname has been envisaged. Consequently, the building of an alumina refinery, a smelter and a hydro powered dam for generating electricity is planned. Within the mining sector exploration and exploitation of gold has already, like bauxite, been going on for some decades by French and British companies. That this sector offers prospects for development is witnessed by the plans for the establishment of a goldmine and refinery at the Gross Rosebel area, by GOLDEN STAR, an American company and by CAMBIOR Inc., a Canadian company, next month. The refinery of CAMBIOR Inc., will have a production capacity of 177.000 troy ounce per year. Another Canadian Company which is also operating in the gold sector is the Canadian Resource Company, known as the acronym CANARC. With regard to this sector, it is also important to mention that the ALCOA is reporting that they are in the process of taking a decision within the next 3 – 5 years for the exploitation of gold. Along with the just mentioned natural resources , petroleum is also of great importance in Suriname. The exploration and exploitation of this resource offers enormous opportunities for investors. The “Staatsolie NV”, the Surinamese state oil company, recently had a bidding round for exploitation concessions in the maritime area of Suriname, where it is planned to explore the possibilities for exploitation of crude-oil in Suriname. In 2001, the Canadian – based KOCH Exploration International B.V. has drilled exploration wells in the onshore area. Markets have been developed locally and in the Caribbean, with exports to Trinidad, Curacao, Guyana, Haiti, Jamaica, Barbados and Antigua. In anticipation of the intenational market, Staatsolie Marketing and Sales Division and the Refinery Labaratory obtained the ISO-9002 Certification in 2000. In Suriname the exploitation of timber is also an opportunity for investment. The increase of operations of logging companies in Suriname reflects this reality. It is however important to note that our regulatory policy in this sector is adapted to the international standards aimed at sustainable development. The abundance of fresh water and the potential for the exploitation of this resource is also enormous in Suriname. At the moment bottled fresh water is already being exported to the Caribbean. The Fisheries Sector It should be known that Suriname is also one of the biggest shrimp exporters to the European Union and Japan. The Agricultural Sector The Tourism Sector Taking into consideration the afore-mentioned realities, Suriname’s trade and investment policy is primarily aimed to atract credible investors with technical know how and capital. Since the current Government of the Republic of Suriname took office in the year 2000, several policies were implemented domestically in an effort to add to the existing infrastructure, the necessary tools conducive to the establishment of a supportive national environment for the attraction of trade and investment opportunities in Suriname. With regard to the actions undertaken by the Government of Suriname, it is fitting to state that the participation of the private sector that is fulfilling an important role in the process of economic growth has been decisive. Let me seize the opportunity to highlight the achievements of the joint efforts made by the Government and the Private sector. At present the Surinamese administrative and public institutions are transparent, Human resource development is adapted to the standards that are internationally valid and required to be competitive, while regulatory policies towards foreign investments, as well as the regulatory framework of strategic sectors are being revised. Regulations stated in the Investment Act of Suriname has provided for certain fiscal incentives such as tax hollidays. Our production and export polices are also undergoing the necessary reforms in order to adapt to the recent developments as a result of the process of globalization, and our commitment to abide by the standards established in regional integration initiatives in which Suriname participates. It is thus obvious that in Suriname, along with our natural resources, favourable conditions for investments are created. Political stability, relative economic stability, safe working environment, and the commitment and understanding of the workers unions to boost productivity and social stability are a few examples of these conditions which along with our natural infrastructure offers many opportunities for trade and investments in a variety of sectors as mentioned before. With regard to the opportunities for trade and investments in Suriname, it is fitting to take into consideration that by the year 2004, as a result of the establishing of the Caribbean Single Market and Economy, free movement of people, and especially capital, goods and services, as well as the right of establishment without excessive barriers will prevail in the Caribbean region. Suriname is prepairing its participation in the FTAA by strengtening the private sector and is giving way for Foreign Direct Investment. Along with these considerations, the developments also aimed at the completion of the physical integration on the South American continent should also be taken into consideration when formulating economic strategies. The process of physical integration, which is currently in its initial stage, will create enormous trade opportunities for the Caribbean business community, as well as for the enhancement of trade between the Caribbean and other regions. As a result of the completion of the physical integration, Suriname will be connected by roadway to Venezuela and Brazil, while the existing infrastructure that connects Suriname with French Guyana and Guyana will be improved. These developments represent important ingredients for improved trade and investments opportunities in the near future. Transportation between these countries, as well as between the South American Continent and the wider Caribbean region and Europe will become cheaper and quicker, as well as more efficient, while our infrastructure will go through the necessary adaptation and reforms, in order to facilitate air, land and sea transport. Access to Suriname and the rest of the region vice versa, especially to the northern market of Brazil and our neigbours Guyana, French Guyana and Venezuela will be facilitated. Our strategic geographical position on the northern coast of the South American continent and as a member of Caricom, will open the gate for investors who will be in a position to benefit from the export opportunities that will emerge between the Caribbean and South American markets as well as among the Caribbean market, North America and Europe. Our common border with Europe through French Guyana provides trade and investment opportunities that should be explored by investors and the business community who have their focus on access to major markets. Ladies and Gentlemen, I sincerely hope that, from all I have said here today, you have understood the central message that the Government of the Republic of Suriname is committed to the promotion and support of trade and investments opportunities in Suriname. We do underscore the importance of Foreign Direct Investments en will give as much room as possible for investors by our brand new investment act and the investment institute. I also hope that the investment and trade opportunities in Suriname, which during my brief remarks I tried to draw to your attention will contribute to the enhancement of your involvement. Please be aware of the good opportunities and good profits. Finaly I like to invite yo all to visit Suriname in august 2003 when Suriname is organizing the Caribbean Festival- Carifesta- and meet thousands of English- French, Spanisch and Dutch speaking Caribbeans. Thank you. |
On the Occasion of the 9th
Annual Caribbean Leadership Dialogue and Caribbean Heritage Awards
Gala, November 15, 2002, Washington, DC|
Copyright © 2002- Embassy of the Republic of Suriname & GlobeScope, Inc. |