Greater Trade Relations, Investments Anticipated Between Guyana, Britain

A partnership between the Department for International Trade of the British High Commission, the Caribbean Council, and the Georgetown Chamber of Commerce and Industry (GCCI) leads the mission, led by the British High Commissioner to Guyana, Jane Miller.

In a press release issued by the Ministry of Finance, it was stated that the purpose of the mission is to accelerate the growth of trade and investment between Britain and Guyana.

During the meeting held at the Marriott Hotel on Monday, Dr Singh said that Guyana and the United Kingdom share a long-standing relationship grounded in diplomatic, political, and economic ties through investment and trade, people, and cultures.

He said the British Trade Mission represents an excellent opportunity for both Guyana and British companies to forge closer ties and look forward to the growth of the British business presence and relationships in Guyana.

Due to its increased oil production, Dr Singh indicated that Guyana had become the fastest-growing economy in the world, with a projected growth rate of over 50% for 2022 and an average annual growth rate of 25 per cent over the medium term.

As he pointed out, Guyana is considered one of the world's foremost investment destinations, attracting investment in the oil and gas sector and infrastructure and providing the necessary support services. As well as oil, there are also avenues for investing in and expanding the non-oil extractives, such as gold, bauxite, agriculture, tourism, hospitality, information and communications technology, and energy.