Latest update April 19th, 2024 12:59 AM
Mar 05, 2019 News
The Chambers of Commerce and Industry for Guyana and Barbados have formalized a Memorandum of Understanding (MoU) to improve trade relations between the two CARICOM sister nations.
This was revealed in a missive to the press yesterday by the Georgetown Chamber of Commerce and Industry (GCCI). The Chamber noted that this development occurred at a “Doing Business in Guyana” Breakfast Meeting in Barbados on February 27, last.
At the event, GCCI President Deodat Indar delivered the featured remarks, which outlined critical information pertaining to the work of the GCCI and its counterpart, the Private Sector Commission, Guyana’s economy, tips for navigating Guyana’s business environment, relevant laws and taxes, an overview of the oil and gas sector, and, most importantly, opportunities for investment.
Indar urged the Barbados Chamber to take advantage of opportunities for investment in Guyana, as the country’s economy is positioned to grow exponentially in the next two decades with the expansion of the oil and gas sector. The GCCI President added that areas for collaboration between Barbados and Guyana exist within the industries of tourism, manufacturing, agriculture, renewable energy and services. On that note, Indar stated that Barbados is well positioned to provide training in the hospitality sector to Guyanese, which would substantially benefit the tourism and oil and gas sectors in Guyana.
Minister in the Ministry of Foreign Trade of Barbados, Sandra Husbands, also shared Indar’s sentiments, while stating that the Barbados government is adamant about pursuing bilateral agreements with Guyana. She also pledged the support of the Foreign Trade Ministry in that regard.
In his remarks, Executive Director of the Barbados Chamber, Carlos Wharton, noted that Barbados stands to benefit from improved trade relations with Guyana, particularly in the area of food imports. Wharton stated that Barbados imports the majority of its foods from extra-regional sources, and improved trade with Guyana would provide an opportunity for the reduction of the country’s food import bill.
He said, too, that the Chamber intends to organize a trade mission to Guyana in the coming months.
The Breakfast Meeting was a collaborative effort between the Barbados Chamber of Commerce and Industry and the GCCI, with the aim of strengthening bilateral trade between the two states.
GCCI said that the event served as an opportunity for the two business support organizations to examine areas of mutual interest with a view to establishing strategic partnerships within the private sector.
Please share this to every Guyanese including your house cats.
Apr 19, 2024
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