A Canadian Chamber of Commerce will soon be established in Guyana to foster increased trade activities and a better economic relationship between the two countries. This has partially stemmed from a vast number of companies which have expressed interest in the country’s potential.
The Canadian High Commissioner to Guyana, Lilian Chatterjee, made the disclosure earlier this week, positing that her country has been Guyana’s largest trading partner.
“Newfoundlanders have been trading with Guyanese for hundreds of years. We exchanged our cod for your rum…In recognition of the growing Canadian presence in Guyana, I am pleased to announce that we will be launching a Canadian Chamber of Commerce in Guyana. Some of you might not be aware that Canada is Guyana’s largest trading partner.”
With an official launch later this year, interested stakeholders can contact the Trade Commissioner at the Canadian High Commission in Georgetown.
Chatterjee went on to say that remittances from Canada to Guyana have accounted for nearly US$208M over the past five years. Additionally, mining companies have taken great interest in the gold resources, with 10 mining companies in various stages of exploration and production. These include Guyana Gold Strike, Sandspring, and Reunion among others.
Three companies in Toronto namely CGX, JHI and Eco-Atlantic will be drilling offshore Guyana. Presently, 12 partnerships exist between the two countries in the oil and gas sector. LearnCorp, which focuses on technical oil and gas training, is currently training 24 people from Guyana to work on the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel.
Just last year, an American Chamber of Commerce (AmCham) was opened in Guyana to create a fair business environment for small enterprises.
The President of AmCham Guyana, Zulfikar Ally, was quoted as saying, “We see this Chamber as a chamber that will help to facilitate investment into Guyana. There are 116 chambers all around the world and… our job will be to help to facilitate and guide [businesses].”
AmCham said its purpose was to “promote America–Guyana bilateral trade opportunities and activities, to improve market access for America-Guyana goods and services, to provide an economic, social, and policy platform for its members, and to encourage networking and build business connections, among others.
The current board comprises a dynamic mix of both local, regional, and US directors who are eager to dedicate their service, knowledge, and expertise to ensuring a productive start for the chamber.
