‘Fruitful investments’ expected as Guyana, Barbados private sector discuss areas of cooperation

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Executive Director of the Barbados Chamber of Commerce and Industry (BCCI) Misha Lobban-Clarke is anticipating “fruitful investments” to emerge out of a recent consultation with Guyana’s Private Sector Commission (PSC).

The meeting on Monday saw the two private sector bodies engaging in intense discussions on attainable commodities and sectors that could either develop or expand their industries.

“We are pretty excited. Guyana has a rich history of trade relations with the rest of the region. The times we are now is among the changing of the tides as a result of COVID and no doubt we have to be looking at cementing and increasing our trade partners and we see room for fruitful investments,” the Executive Director remarked.

Clarke shared that the BCCI, which has been around for 195 years, is ready to consult and lend support in every area of business.

Paul Cheong, Chairman of the Private Sector Commission.

“We are the business support organisation, almost the engine support in terms of facilitating trade, and trade relation with our partners and so indeed we are here to lend support to the onus of capital, the business that are in the room, so please feel free to engage,” she added.

Meanwhile, Chairman of the PSC, Paul Cheong underscored the need to forge partnerships with local and international investors, ahead of Guyana’s massive transformation.

He said, “We need to approach this, not only as business but as friends, and look for the long-term benefits. We are starting this now but in five, ten, fifteen years from now, the whole landscape would be changing and now is the right time to get in and get involved.”

Cheong said as well that both Guyana and Barbados possess “a host of investment opportunities” in areas besides oil and gas that could be of benefit to developing states across the globe.

And already, both sides have shown interest in areas of manufacturing, agriculture, trading, shipping, logistics, lumber, engineering, and infrastructural development, among others.

Members of the Guyana and Barbados private sectors during the discussion.

These consultations were birthed from bilateral discussions between President Irfaan Ali and Barbados’ Prime Minister, Mia Mottley, prompted by a desire for deeper investment relations and development between the two countries.

And recently, President Ali reaffirmed Guyana’s commitment to working with the Government of Barbados in the shared spirit of regional integration.

“I want to let you know that here in Guyana, led by myself as President, the cabinet and the people of this country, we admire greatly, your leadership.

“We believe strongly in your commitment to regional integration, and we will work with you every single day in our journey ahead together to ensure that the goals that you are setting can be realised and the people of this region can be uplifted to better heights,” the President had said.

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