Stabroek News

CARICOM buyers set to dominate GUYTIE

Minister of Business Dominic Gaskin (centre) and GTT Chief Executive Officer Justin Nedd at a Guytie sponsors’ event at the Marriott Hotel on Wednesday

Up to earlier this week regional business enterprises were significantly outnumbering those from North America, Europe and further afield that had accepted invitations to participate in the September 19-22 Guyana Trade and Investment Exhibition (GUYTIE) though the organizers of the event were mindful to tell Stabroek Business that the list of thirty-three potential buyers made available on Wednesday was unlikely to be exhaustive as far as overseas participation was concerned.

Of the potential buyers listed up until now as having committed to participating in GUYTIE fourteen are from Trinidad and Tobago with a further two listed as being from Tobago. Five potential buyers from Barbados were listed as scheduled to be here for the event whilst two companies from St. Lucia and one each from Suriname, Belize and Haiti are registered to participate in the event. Beyond the Caribbean Community one company each from Canada, India, Brazil are due here for GUYTIE. 

While the organizers will be hoping that the number of major extra regional business entities participating in the event will increase before the launch of the event, an official linked to the planning team told Stabroek Business that it was “encouraging” that potential buyers from the region had signaled an interest in acquiring manufactured and forest products, a circumstance which the official said was likely to open up opportunities for a wide range of sectors including those dominated by small and medium-sized businesses.  

Product interests among potential buyers from the region include lumber, plywood, rice, wood products, beverages, fruit pulp and juices.

Among the eye-catching names on the list of potential buyers is the Indian company Aggressive Export Promotion Services which is listed as having an interest in apparel and garments, tourism and “exploring export-oriented projects in food processing” and ‘helping Guyanese exporters to enter Indian markets.” Also registered for GUYTIE is the Canadian entity ARA Trading Ltd. which has signalled an interest in acquiring rice and other “food products from Guyana”.

Neighbouring Suriname, a sister CARICOM country and a longstanding trading partner is being represented at GUYTIE by Advanced Ventures LLC which company has signaled an interest in engaging local food manufacturers, distributors and exporters.

The GUYTIE Secretariat has already announced that the event has been fully subscribed by local exhibitors and that some sixty such entities are scheduled to participate in the event.

Seemingly anticipating such niches as might derive from oil and gas-related Local Content opportunities, four Guyanese companies: Century Tamara Energy Services Inc, Guyana Training College for International Skills, Onecart and Muna Nur have registered an interest in participating in GUYTIE in the buyer category listing procurement services, collaboration with agro processors, manufacturers and farmers (in possible joint ventures) wholesale and retail and finance and insurance as being among their interests.