Following two successful trade missions to Cuba and Panama in 2015 and 2016 respectively, the TT Chamber conducted a survey to identify the markets of greatest interest to its membership. For both product and service providers, Guyana emerged on the top.
It is a market that is familiar to most of us, as several local companies have had longstanding commercial relationships with Guyanese enterprises. However, there are still some businesses that have not yet taken advantage of the vast array of opportunities that lie within the Guyanese market.
Guyana is now attracting not just regional, but international attention as an investment destination. The country boasts mineral wealth in the form of gold, bauxite, sandstone and diamonds, vast agricultural lands for crops and livestock and healthy rainforests with diverse types of timber. In 2017, we expect that due to the emerging petroleum sector and the developing agricultural sector, there would be considerable demand for support services such as construction, telecommunications, transportation and safety. Demand for renewable energy services also appears to be increasing with obvious business potential for TT companies.Always a good sign, Guyana’s tourism market has been recording double digit increases in visitor arrivals over the past ten years. Naturally, there is also need for goods and services to support growth in this sector as well.
Through the Free Movement of Skilled Nationals within the CARICOM Single Market, there exists several opportunities for TT businesses. With Trinidad and Tobago as a Member of CARICOM, TT products are afforded duty-free, quota-free access into Guyana, along with the other benefits of being part of the CSME.
In recent times, oil discoveries have caused investors to flock to Guyana. The prospects for value-added production are significant and have many spin-off effects for the wider economy.
The TT Chamber’s upcoming trade mission is targeted to all potential and existing exporters, importers, entrepreneurs, service providers, SMEs and investors.
Apart from a pre-mission orientation, the delegates will engage in business-to-business meetings, a one-day conference at the Georgetown Pegasus Hotel and a business networking reception. Special arrangements can also be made if you cannot participate for the full two days. In the last three years, several developments have ushered Guyana into a new era of progress in commerce.
These opportunities are particularly important for Small and Medium Enterprises desiring to explore export options for the first time. There are very few barriers to trade and due to its language, proximity and culture, the destination is attractive to local companies.
In essence, the Guyanese market provides an ideal opportunity for a wide variety of businesses, emerging entrepreneurs and investors. The T&T Chamber seeks to ensure that our local enterprises are best positioned to take advantage of the prospects.
Call us at 637 6966 to find out more about our Trade Mission to Guyana.