Latest update August 4th, 2026 12:30 AM
Guyana eyes Brazil’s Olympic Games, World Cup for increased business
A high level meeting of officials from Guyana, Suriname and Caribbean Export is currently underway in Suriname with officials discussing a report prepared on enhancing exports from Guyana and Suriname to Brazil and a Troika Trade Assessment Plan (T-TAP) detailed in the report.
(L-R) Suriname’s Ambassador to Guyana, Mehroen Kurban-Babo, Ramesh Dookhoo of the PSC, Uchenna Gibson of GoInvest, Dhaneshwar Deonarine of Ministry of Trade, Industry and Commerce, Lance Hinds of the GCCI, Guyana’s Consul-General in Suriname, Arlington Bancroft and Clinton Williams of the GMSA.
With Brazil becoming an economic powerhouse in Latin America, Caribbean Export commissioned a study which details an immediate set of actions aimed at addressing the less than stellar performance of firms based in Guyana and Suriname in the Brazilian market, the Private Sector Commission said yesterday.
“The report noted that Guyana and Suriname are not adequately exploiting trade opportunities either between themselves or with Brazil and finds that the Partial Scope Agreements (PSAs) between Brazil and the two Caricom countries do not cover most of the countries’ most competitive exports.”
The report also found that infrastructural limitations such as the energy costs and road networks inhibit trade.
“It was also found that Brazil’s import demand does not sufficiently match the exports of Guyana and Suriname or the comparative advantages of the two members of the Troika.”
The report recommended opportunities to be tapped into at the Olympic Games and the World Cup in 2014 and 2016 which can be seen as a market entry period.
“The objective of the Troika Trade Assessment Plan (T-TAP) as detailed in the report is to generate some US$13.5M in export sales to the other Troika markets by 2018.”
The target for Guyana is US$8.4M due to its geographical access to Brazil and the wider coverage of its PSA with Brazil.
Some of the recommendations of the T-TAP include the establishment of trade desks in the Suriname Business Forum. The Private Sector Commission of Guyana will provide training for export ready firms; trade and market intelligence and trade show support, including the subsidizing of airfare and accommodation for export ready firms.
“The assessment also recommends initiating a desk exchange programme amongst SEBRAE, the Brazilian private sector organisation, Caribbean Export, the Private Sector Commission and the Suriname Business Forum.”
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