Latest update February 7th, 2025 2:57 PM
Oct 02, 2013 News
While the aim of GuyExpo over the years has been to provide a platform for businesses and entrepreneurs to showcase their products in order to attract a wider investment base, President of the Guyana Manufacturers & Services Association (GMSA) Clinton Williams has admitted that there has not been much gain in the area.
To this effect, he has announced that GSMA will be hosting a Business Forum at the Guyana International Conference Centre (GICC) tomorrow, the opening day of GuyExpo.
According to the GSMA President, the forum is intended to identify areas to enhance production and export in Guyana. He said that the aim of the forum would be to “re-emphasize the business concept.”
It was informed that delegations from Brazil, Barbados, China and USA are slated to give presentations at the event, while a large contingent of the 85 international exhibitors scheduled to participate in GuyExpo 2013 will attend.
The GMSA President specified that the need for such an intervention was aroused as a result of the lack of a quantitative development report showing what new investments have sprung from the annual trade fair.
Williams said that since the trade fair and the meeting of the international business people will be held on the same day, there will be encouragement for the foreign buyers and investors to source and utilise products from Guyana which will be on exhibition.
He added that the forum will explore the prospects of acquiring inputs from overseas based suppliers that would add value to and expand the country’s production capacity.
Reference was made to the fact that packaging and the appearance of local products affect the capacity to export. He identified that one of the options available to remedy this shortfall would be to “get the investors to provide packaging material.”
Williams noted also that in the past, while foreign investors would have shown interest in a product, local producers had “backed off” because of a lack of equipment and raw materials, resulting in a loss of an opportunity to export.
As such, he said that the forum will be stressing the need to establish partnerships between local and foreign investors, so as to meet midway in the endeavours. Williams stated that the provision of raw materials from foreign-based companies to local producers will boost production and aid in expansion.
Also to be discussed at the forum will be ways in which to increase the range and value of arts and craft products.
“We believe that such a forum will ensure that we see something at the end of the day; whether its new business opportunities, new markets, more trade or more joint ventures,” Williams said.
He added that this year, the Association will be measuring and comparing the level of activities this year as opposed to previous years, so as to ensure that the aim of GuyExpo is being met.
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