UPDATE: Deputy Premier reports of ‘very successful’ 1st trade mission to Guyana
“The Mission was very successful and we were delighted to receive such a warm welcome from colleagues in the Guyanese Government and representatives from the private sector. In addition, we have identified new opportunities for BVI business, examined how Guyana is moving towards a low carbon economy, which will assist us in our own journey, established links to benefit our own economy, and especially our agricultural sector, and reinforced our relationship with one of the leading and largest members of CARICOM.
“Given these opportunities and the enthusiasm with which we were received, I believe that we will be looking at how best to establish a more permanent presence in Guyana that would be mutually beneficial,” Hon Smith stated during a press conference today, August 15, 2023.
While in Guyana the delegation headed by Hon Smith also met with Guyana’s Agriculture Minister Zulfikar Mustapha, Minister of Tourism, Industry and Commerce Oneidge Walrond as well as the Guyana Central Bank Governor, and his team.
Strong engagement from Guyanese private sector
In addition, Hon Smith said there was strong engagement from the Guyanese private sector and all of the VI delegation’s meetings with various business organisations were well attended always with senior representation.
“We shared with the major private sector organisations how BVI Financial services structures and wealth management products can assist them during this phase of Guyana's economic transition especially as they pertain to facilitating inward investment.
“Additionally, The Central Bank has invited one of our team [members] to register its businesses with the Bank to help Guyana address challenges, utilising digital solutions.”
‘Spirit of partnership between us was evident’- Hon Smith
The Trade Minister reported that the VI team even hosted a reception for between 50-60 senior business persons and Government officials including the British High Commissioner who was very helpful to the visiting delegation.
“Indeed, the spirit of partnership between us was evident throughout and there was mutual agreement that the Mission was the starting gun on building a closer relationship with clear opportunities identified.”
Also arising out of the trade mission, Hon Smith said a member of the VI private sector has offered to partially fund a scholarship to the Guyana School of Agriculture to increase such expertise in the Virgin Islands.
Private sector delegation to return to Guyana
Additionally, Hon Smith said the strong cultural connection between the Virgin Islands and Guyana will be reinforced through student and cultural exchanges and working together at CARICOM and other international forums.
“Perhaps most important is this, A number of representatives of the private sector will be returning in short order to maximise the new business opportunities that emerged during the visit,” Hon Smith said.
See previous article published August 15, 2023
VI to be updated on Trade Mission to Guyana @ 10AM press conference
Deputy Premier and Minister for Financial Services, Trade and Labour Honourable Lorna G. Smith, OBE will have a LIVE press conference from 10:00 AM today, Tuesday, August 15, 2023, regarding the recent trade mission to Guyana.
A 17-member delegation that comprised representatives from the financial services industry and various business sectors embarked on what was described as a “significant” trade mission to Guyana from July 30 to August 4, 2023.
Hon Smith had said the aim of the mission was to foster collaborative opportunities, enhance bilateral trade, and promote mutual economic growth.
The press conference will also see Junior Minister for Agriculture and Fisheries Honourable Dr Karl Dawson (R1) updating the public on his assignment in Guyana.
Guyana has emerged as an ‘economic powerhouse’- Hon Smith
According to Hon Smith, the rapid pace of Guyana’s economic growth and the vast untapped potential it affords have not gone unnoticed; however, it’s important to note that while Guyana’s economy is booming its infrastructure and technological advancement lag behind those of more developed nations in the region by nearly 30 years.
“This gap, therefore, provides an opportunity for businesses to contribute to and benefit from Guyana’s rapid transformation, driven by its augmented budget and flourishing economy,” Hon Smith stated during the Second Sitting of the First Session of the Fifth House of Assembly (HoA) in Road Town on June 29, 2023.
Guyana has emerged as an economic powerhouse, achieving an impressive overall economic growth rate of 62.3% in 2022.
This exceptional growth, according to Hon Smith, can be primarily attributed to the expansion of the oil and gas sector, which experienced a remarkable growth rate of 124.8%.
She said, consequently, Guyana has garnered global attention and is now recognised as the most promising investment destination in the western hemisphere.
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36 Responses to “UPDATE: Deputy Premier reports of ‘very successful’ 1st trade mission to Guyana”
IT WORKS BOTH WAYS!!!
MANY PERSONS NEVER EVEN VOTED IN THEIR COUNTRY UNTIL THEY GOT TO THE BVI.
who first send help for BVI after Irma??
and besides that the US Currency is of a higher value.
Visa waiver needs to be narrowed down andcof you do it for Guyana you have to do it for other territories. This thing is not about work only crime accompanies it self to freedom also. I'm not here implying they are criminals I'm just stating facts that can arise from out own actions trying to engage trade. Stay vigilant
For those who like travelling, the Kaieteur fall would be a good adventure. There is the massive Essequibo River that has an island inside of it that has a size that is bigger than Barbados. It is time to stop the talking and visit Guyana and I am sure they will not regret.
IT EXPOSES THEIR EVIL MENTALITY AND HYPOCRISY THAT LURKS WITHIN THESE / ANIMALS, THAT LOOKS LIKE HUMAN BEINGS , HENCE , HENCE , COMMON SENSE IS NECESSARY TO IGNORE AND AVOID THESE TYPES . ( AND THEY ARE EVERYWHERE AND IN EVERY COUNTRY IN THIS WORLD ) SO DON'T THINK AM PUTTING DOWN ANYONE . ITS JUST THE FACTS