Interest in Guyana high as country sets up first World Trade Center

Guyana’s first World Trade Center will be opened this year but already there is substantial interest in connecting and trading with local entities through this facility, according to Executive Director for Business Development of the World Trade Centre Association Robin van Puyenbroeck.

The Executive Director engaged the News Room on Thursday while participating in the 54th General Assembly and Global Business Forum, hosted this year in Bengaluru, India.

van Puyenbroeck said Guyana’s explosive economic growth over the past few years has been particularly attractive for businesses around the world, including other international World Trade Centers.

But it isn’t only the Guyana’s growth that causes it to garner so much interest. The Executive Director explained that many view Guyana’s Trade Center as a gateway to Latin America and the Caribbean, and as a nexus between North America and South America.

So, the forthcoming World Trade Centre in Georgetown is attracting much attention.

At the Global Business Forum, the World Trade Centre Georgetown signed Memoranda of Understanding (MOU’s) with four World Trade Centers in India – in Bengaluru, Mumbai, Jaipur and Bhubaneswar.

These MoUs set out the framework for collaboration and joint action to facilitate, inter alia, trade policy information sharing, strategies for mutual market access, training and capacity building, exchange of trade and investment missions, market intelligence and research, and the promotion of best practices.

Additional MoUs were inked with the Trade Centers in Panama City and Winnipeg.

But should Guyana have a World Trade Center in the first place?

Well, according to van Puyenbroeck, this internationally-branded trade centre will serve as a hub for engagements between Guyana and over 300 other Trade Centers globally.

“… that team will be plugged into a global network.

“What that will do is really put the country, and put the city on the map, and find ways to connect and promote businesses from Guyana to other parts of the world and basically leverage this network,” van Puyenbroeck highlighted.

And being part of the World Trade Center network, he further explained, means Guyanese entities will be able to enjoy trade information, access to new markets and engagements with trade delegations.

Demerara Distillers Limited (DDL) officially received the license for Guyana’s World Trade Center, tipped to be the first-ever World Trade Center to be set up in the Caribbean Community (CARICOM).

The World Trade Center Guyana office will be located at DDL’s High Street, Kingston, Georgetown office.