Subchapters:
- Introduction
- Addressing
- Business Meeting
- Communication
- Recommendations
- Public holidays
Introduction
Business offers must be submitted in English, as well as catalogs, manuals, prospectuses, specifications, variants of payment terms, delivery times, etc.
A personal meeting is essential for establishing a business contact.
The working hours of government institutions are from Monday to Thursday from 8:00 a.m. to 4:30 p.m., on Fridays until 3:30 p.m. Banks are usually open from Monday to Thursday from 8:00 a.m. to 2:00 p.m. on Friday until 2:30 p.m.
The working hours of private businesses are usually from Monday to Friday from 8:00 a.m. to 4:30 p.m. or 5:00 p.m.
Given the small size of Guyana’s market, local agents and distributors are generally preferred.
Czech exports are realized mainly on the basis of one-off orders from local partners.
- Programingplease: Yearbook 2010 of nation Guyana, including population, politics, and abbreviations.
Addressing
There is no usual direct marketing in the country.
Lack of sophisticated market data slows down prospecting.
The number of franchise companies is growing, especially in fast food.
Guyana is the only English speaking country in South America, therefore all promotion and advertising using HSP must be conducted in English.
It is highly recommended to find a local representative with knowledge of the mentality and creditworthiness of potential partners.
Business meeting
The normal customs of contemporary foreign trade apply to arranging an appointment.
It is necessary to prepare for the fact that partners will appreciate the ability of informal conversation and cordiality after the initial acquaintance.
Timing of meeting: Working lunch and dinner are suitable.
The security of trade agreements corresponds to Guyana’s ranking in the Index of Economic Freedom – 116th.
The incorporation of a company in Guyana must by law be done exclusively by a local law firm, whose duty it is to oversee the company’s accounting system and the selection of management personnel.
Labor costs for local employees are low.
Due to the varied ethnic and religious composition of the population, it is necessary to take into account the characteristics of the partner and avoid cultural taboos according to his religion and origin. Patience and respect for cultural differences is required.
When it comes to offering alcohol during business meetings, it is recommended to know and respect the partner’s religion and ethnic origin.
In addition to the first contact, casual clothing can be chosen depending on the climate.
When it comes to the age and gender composition of the team, there are no significant obstacles, nor are the STI authors aware of any specific cultural pattern in this direction.
Respect for seniority is higher than in the Czech Republic.
Regarding the decision to invite a business partner home, or to be invited home, it may be considered appropriate after closer acquaintance.
Communication
Knowledge of English is common in Guyana.
When it comes to communication taboos, it is advisable to behave sensitively according to the diverse ethnic and religious composition of the population, depending on the nature of the partner.
Meeting in person is always an advantage.
Due to the geographical distance, however, it is also possible to use mail due to the knowledge of English in Guyana.
Guyana is the only English speaking country in South America, therefore all promotion and advertising using HSP must be conducted in English.
Advertisements and promotions are most featured in local newspapers and on local radio and television stations.
The largest periodicals are: Guyana Chronicle (government newspaper) Kaieteur News (independent newspaper) Stabroek News (independent newspaper)
Recommendation
Guyana is gradually liberalizing its trade regime and reducing tariffs in accordance with the Common External Tariff of the Caribbean Community (CARICOM).
Imports of specific products are subject to consumption tax.
Duty is collected on an ad valorem basis, excise duty on a CIF value basis plus applicable duty.
To support the development of trade, some capital goods are exempted from consumption tax. All export and import shipments are subject to inspection by Guyana Customs. Customs clearance takes place on the basis of the invoiced purchase price, the importer must submit the original and two copies of the commercial invoice and the original and a copy of the sea bill of lading (Bill of Lading) to the customs office. If a certificate of origin is required, this shall be submitted in the original and three copies. Import licenses are required for certain types of goods, such as firearms or pharmaceutical products. Restrictions are in place on the export of gold, marine products and animals, with an export duty of 0.5 to 10% ad valorem.
All shipments must be inspected prior to export.
Goods traded with CARICOM member countries are duty-free.
Guyana is participating in talks to join the Free Trade Area of the Americas and has preferential access to the US market under the Caribbean Initiative, to Canada under the CaribCan Agreement and to the EU under the Lomé Trade Partnership Agreement. It also has several non-reciprocal preferential agreements with Venezuela and Colombia and is a member of Petrocaribe.
Since 2013, Guyana has also been an associate member of Mercosul. The domestic market is protected by some import bans and/or restrictions.
The import of weapons and ammunition is restricted, with the exception of the written permission of the chief of police, spirits and wine in bottles and demijohns, tobacco, cigars and cigarettes, printed matter threatening public safety and order, etc.
Public Holidays
January 1 New Year
February 23 Republic Day (Mashramani)
March: Phagwah
March–April Good Friday and Easter Monday
May 1 Labor Day
May 5 Indian Heritage Day
26 May Independence Day
July 2 Caricom Day
1 August Emancipation Proclamation Day
August 22 Eid al-Adha (Muslim “Feast of the Sacrifice”)
September–October Ramadan October–November Diwali (Hindu Festival of Light, normally 5 days)
November: Youman Nabi (Birth of the Prophet)
25-26 December Christmas
