Suriname Investment and Trade Agency (SITA) is a
Surinamese government institution that was founded in 2021.
[United News]
Investsur eruit SITA erin
14 November 2021
Functions
The objective of SITA is to support international investments and to stimulate Surinamese exports. For this means it organizes meetings between companies, like on 24 July 2023 with ConnectAmericas, the biggest trade community of the
Americas
The Americas, which are sometimes collectively called America, are a landmass comprising the totality of North and South America. The Americas make up most of the land in Earth's Western Hemisphere and comprise the New World.
Along with th ...
that was founded by the
Inter-American Development Bank
The Inter-American Development Bank (IDB or IADB) is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribb ...
(IDB). In June 2024 SITA signed a
memorandum of understanding with the Guyana Office for Investment (GO-Invest) to promote investments and trade between the two countries.
In addition,
investments in Suriname are being encouraged. Through President
Santokhi and Minister
Ramdin of Foreign Affairs, International Business, and International Cooperation, SITA is involved in supporting foreign investors, such as in August 2023 with the investment plans of a Brazilian cattle company in Suriname. The president also brings SITA to the attention of investors abroad, such as during bilateral talks with Prime Minister
Jan Jambon of
Flanders (
Belgium) in July 2023 and during the Suriname Business Forum in
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
in September 2023. In July 2024, SITA signed a memorandum of understanding for cooperation with the
Suriname-Guyana Chamber of Commerce
The Suriname-Guyana Chamber of Commerce (SGCC) is an international chamber of commerce that is aiming at strengthening the economic ties between Suriname and Guyana.Suriname HeraldSuriname en Guyana slaan handen ineen voor oprichting Kamer van Koop ...
.
Establishment
SITA functions as the
investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
arm of the
Surinamese government. It was established at the end of 2021 as the successor to Investsur and IDCS, which had not successfully taken off under previous governments. For the establishment of SITA, work was done on a new and expectedly more efficient framework.
In March 2022, a delegation from the Agência Brasileira de Promoção de Exportações e Investimentos (
ApexBrasil
The Brazilian Trade and Investment Promotion Agency, or ApexBrasil (Portuguese: ''Agência Brasileira de Promoção de Exportações e Investimentos'') is both the trade promotion organisation (TPO) and the investment promotion agency (IPA) of Braz ...
) was present to assist in the establishment of SITA. This cooperation came about following President
Jair Bolsonaro's state visit to Suriname in January 2022. In April 2022, the Caribbean Export Development Agency (CEDA) also visited Suriname to provide technical assistance to SITA.
[Suriname Herald]
Suriname krijgt ondersteuning van CEDA
10 April 2022 {{in lang, nl
See also
*
Economy of Suriname
The economy of Suriname was largely dependent upon the exports of aluminium oxide and small amounts of aluminium produced from bauxite mined in the country. However, after the departure of Alcoa, the economy depended on the exports of crude oil ...
External links
SITA(official website)
ConnectAmericas(platform of the IDB)
References
Economy of Suriname
Government of Suriname
Organisations based in Suriname