Room for improved trade between Guyana, UK
- Quinn tells GCCI AGM
Saying there is scope for improved trading relations between Guyana and the United Kingdom, British High Commissioner to Guyana Greg Quinn yesterday called on the local business community to play its part in making this a reality.
“In recent years, Guyana’s exports to the UK have averaged US$100 million per annum, whilst Guyana’s imports from the UK have averaged about US$50 million per annum. Those figures should, in my view, be significantly higher and I really want to see our trading relationship grow. I also want to see business to business links across all sectors expand,” Quinn told those gathered at Duke Lodge for the opening session of the 129th annual general meeting of the Georgetown Chamber of Commerce & Industry (GCCI).
Reminding the audience of the longstanding relationship the two countries share, Quinn said that Britain’s business activities already span a variety of areas in Guyana and include sugar, consumer goods, foodstuff, and pharmaceuticals. He insisted that there are more opportunities to be garnered.
He said, too, that as Guyana moves to first oil in 2020, attention must be paid to finding ways to assist the wider Guyanese business interests and the Guyanese economy. In this regard, the said that the UK Government has undertaken seabed mapping and surveying of the approaches to the Demerara River and the mouth of the Essequibo, work which has produced charts which, for the first time in decades, provide accurate information to allow larger and more efficient ships to sail into Georgetown port.
“Larger ships should mean cheaper costs,” he added before later calling on the government, in cooperation with the private sector, to work together to tackle corruption, wherever it is found, head on.
After making reference to an IDB report on ‘Constraints Affecting Guyana’s Private Sector: Survey Results,’ Quinn said that ensuring businesses can operate is key to economic growth. “Bureaucracy must be reduced and the ability of entrepreneurs to set up businesses must be made easier,” he said before stressing that entrepreneurship is the driver of the private sector. “Entrepreneurs are the incubators of innovation. They must be encouraged. Guyana’s scores on the Ease of Doing Business Index suggests much still has to be done…,” he said, before pointing out that this can only be done through a strong partnership between the public and private sector.
Meanwhile, GCCI President Deodat Indar highlighted some of the achievements of the 2018/2019 fiscal year.
He said 54 new members were recorded, bringing the total membership to more than 240.
According to Indar, the past year has been very successful, with numerous training and network opportunities organised for members. Among the defining moments he listed were advocacy for local content legislation, with a focus on the oil and gas sector in Guyana, the removal of the sedition clause in the Cybercrime bill and the apiary industry in Guyana, particularly as it relates to the barriers to the exportation of honey.
Among the special invitees were IDB Country Representative Sophie Makonnen, Chinese Ambassador to Guyana Cui Jianchun and Police Commissioner Leslie James.
During the business session, which was held subsequent to the opening, the 2018/2019 report as well as the auditors’ report and financial statements were presented. During that session there was also the election of a new council to serve for 2019/2020 and the appointment of an auditor.