Local companies are reported to be presently pursuing up to 50 business leads, which began at the recently concluded Guyana Trade and Investment Exhibition (GuyTIE). However, negotiations are on-going and it would be several months before a full determination about the success of those negotiations is made, Stabroek Business has been told.
Over 200 meetings were facilitated among the 113 buyers and 56 exhibitors over the three days of the exhibition. In addition, several trade missions met with many of the business representatives that participated in GuyTIE. Key among these were, the Brazilian Service of Support for Micro and Small Enterprises (Sebrae), the Korea Trade-Investment Promotion Agency (Kotra), The Chamber of Commerce of Cuba, The Trinidad and Tobago Manufacturers’ Association (TTMA), Invest St. Vincent and the Grenadines (InvestSVG) and the St. Kitts/Nevis Chamber of Industry and Commerce. Minister of Business, Dominic Gaskin, met with the Korean and Cuban delegations and discussed areas for cooperation, such as infrastructure, tourism development, agriculture and strengthening GO-Invest among others. They committed to continued engagements.
As a follow-up to the exhibition, developmental partner for GuyTIE, CaribExport, who provided technical and financial support for the event, will also collaborate with the Steering Committee to conduct workshops with sponsors and exhibitors to garner feedback on the overall performance of the recently concluded event. These workshops will be conducted in November. Information gathered from the follow-up workshops will be used to strengthen the next edition of GuyTIE.
Earlier, Roy’s Spices reported that connections were made with markets in Canada, while another local company, Comfort Sleep, reported that it had gained a footing in the St. Lucian and Cuban markets. Additionally, Cutters of Barbados showed great interest in rum products from both Banks DIH and DDL, with representatives from both local companies reporting fruitful engagements. Another local company, Umami, also found new markets in Canada, Barbados and Antigua. These and other local companies are still in active negotiations, based on linkages established at the exhibition. A total of 10 small businesses displayed their products at GuyTIE, with some completing sales to the public on the final day of the expo.
The inaugural event was facilitated by the Ministry of Business, in collaboration with the Guyana Office for Investment (GO-Invest), the (Caribbean Export) and private sector associations in Guyana. The goal of this event was to create a platform for local export-ready businesses to engage foreign buyers and other potential partners. Exhibitors represented key sectors such as manufacturing, agro processing, and services among others. GuyTIE was held at the Guyana Marriott Hotel, from September 19-22, 2018.