A number of new firms from Trinidad and Tobago (T&T) are eyeing the Guyana market based on President of Trinidad and Tobago Manufacturing Affiliation (TTMA) Tricia Coosal.
Guyana and T&T share long-standing relations, permitting quite a few firms to ascertain a presence right here over time. However now, extra firms have an interest within the Guyana market.
“Now we’re seeing a brand new emergence of latest firms who wish to enter the (Guyana) market, so we expect that commerce must be elevated,” Coosal mentioned throughout a latest interview with the Information Room.
The TTMA President was eager on noting that commerce curiosity in Guyana is nothing new. In truth, she mentioned that frequent commerce missions from the Manufacturing Affiliation proof simply how Trinidadian non-public sector gamers have been.
The latest commerce mission was on March 22, and a brand new Memorandum of Understanding (MoU) for enhanced cooperation was inked with the Guyana Manufacturing and Providers Affiliation (GMSA).
Due to this evident curiosity, Coosal believes that efforts to take away intra-regional commerce obstacles are essential. As soon as eliminated, it will likely be simpler for extra firms to accentuate commerce between the 2 international locations.
As such, she highlighted that the TTMA has been lobbying the Trinidadian authorities on eradicating these obstacles. The physique can be working alongside its Guyanese counterpart to establish an inventory of much-needed items whose commerce is hindered by sure obstacles.
However Coosal additionally believes that the removing of commerce obstacles must be a key focus of the broader Caribbean Neighborhood (CARICOM). The challenges are region-wide, she lamented.
“I believe the Caribbean as a complete, if we cope with the obstacles … we are able to overcome among the points together with phytosanitary laws.
“I believe it can assist us enormously in securing meals safety for the area,” Coosal posited.
Primarily based on latest statements at an Agri-investment in Guyana and on the not too long ago concluded Common Assembly of the Convention of Heads of Authorities of CARICOM in Suriname, regional leaders seem eager on eradicating these obstacles.
Particular focus has been directed in direction of non-tariff obstacles equivalent to quotas, embargoes, sanctions and levies. And this renewed focus comes amid an aggressive intra-regional agenda being pushed by Guyana.