With interest from over 100 companies, UK seeks to cement trade, investment relations
By Kurt Campbell
kurt@newsroom.gy
With over 100 British businesses eyeing Guyana, the United Kingdom government is seeking to cement trade and investment relations, and has already identified renewable energy, infrastructure and agriculture as possible areas for partnerships.
With this ramped-up interest in Guyana, a trade mission from the UK is due here early next year.
The UK is Guyana’s largest trading partner in Europe, with key exports being rice, sugar and rum. Trade in goods and services has jumped by 27.5% or £133 million when compared to 2020.
“They [UK businesses] feel now is the time for Guyana. They see growth and they want to come and find partners and work with the government,” said Spencer Mahoney, the UK’s Deputy Trade Commissioner of Latin America and the Caribbean, who is visiting Guyana.
“Guyana has incredible opportunities to grow and for UK companies it is a good time to come and have a look, find local partners,” he told the News Room Monday evening.
Recognising that Guyana is now one of the fastest growing economies in the world, Mahoney told the News Room on Monday that “Guyana is at the very top” of countries in the region with which the UK is looking to increase its trade relations.
Mahoney, on a three-day visit, has already met with Prime Minister Mark Phillips, who is performing the duties of President, and the Ministers of Public Works and Education.
He has also met some UK businesses in Georgetown but said he looks forwards to meeting with local business leaders and other leading figures in the government.
“It’s about understanding and helping to bring interest back to Guyana by talking about the opportunities back in the UK,” Mahoney said of what he hopes to accomplish.
Guyana has officially signed on to the new agreement that will govern trade and investment between the United Kingdom and the CARIFORUM group of countries following the UK’s exit from the European Union.
