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Guyana gears for marketing intelligence system

Oct 05, 2013 News

 

Geared towards improving the trade sector, Dameon Sorhaindo, advisor on Competitiveness at the Caribbean Export Development Agency (CEDA), announced recently, at a business development forum at the Guyana International Convention Centre at Liliendaal, Greater Georgetown that it is soon to launch a Regional Trade and Market Intelligence Development System.
The meeting held was a collaborative effort of the Guyana Manufacturing & Services Ltd (GMSA) and the GuyExpo committee.
Sorhaindo said that the system will provide key stakeholders; both from the private sector and the Business Support Organization level with special data and information on trade markets which will serve to inform better decision-making.
He said that the system will explain through an in-depth analysis, the European market, and equip exporters with tools to identify business opportunities by providing the following: Analysis of economic and trade statistics, Tariff and Non-Tariff analysis, Market entry requirements, Business and Trade Regulations, Buyer, supplier and distributor databases, Database of Business Support Organization in the market and Market outlook, as well as sector profiles and consumer reports.
He noted, too, that the key features of the system will include:  the development of an actual market intelligence portal and the regional trade information network.
“The network will provide and disseminate trade information on the varying companies.
This system is really the key to the sustainability of a regional trading information network as well as to build in the capacity of organizations to provide and enhance trade information.
We are now in the testing stage of the portal and once that it is over it will provide tons of data on international trade and regional trade etc. It will be launched very soon,” the representative explained.
Customized studies have also been done on market opportunities and one of the studies being done is a Guyana/Brazil/ Suriname study, the results of which will be ready by the end of October.
He said, “The study will look at enhancing trading strategies among the countries and looking at investment opportunities. It will also identify specific market areas which will enable a high level of market penetration thereby leading to the prospect of yielding more benefits.”

 

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