GCCI to set up Trade Councils to improve relations with India, Cuba

Nov 25, 2017 News

The Georgetown Chamber of Commerce and Industry (GCCI) is expected to establish National Trade Councils in an effort to improve business relations with India and Cuba.
This was revealed by GCCI President, Deodat Indar at GCCI’s press conference. The briefing was held yesterday at the Chamber’s Waterloo Street Headquarters.
Indar updated the media on the benefits arising from the institutional linkages made during the recent trip by the Guyanese private sector group to Newfoundland and Labrador, Canada. He also provided an overview of the Memoranda of Understanding recently signed by GCCI with the Chamber of Commerce of the Republic of Cuba, the Federation of Indian Export Organisations and the Newfoundland and Labrador Environmental Industry Association (NEIA).
With respect to the Cuban trip, Indar noted that there was a trade show which facilitated at least 3600 exhibitors from more than 60 countries. He said that the delegation from Guyana included officials from the Ministry of Foreign Affairs, the Guyana Office for Investment (GO-Invest), and the Private Sector Commission.
Indar noted that the Memorandum of Understanding (MoU) between the Chamber and Cuba represents the deepening of trade between the two.
The GCCI President said, “The problem with Cuba is how you are going to get your money from there…They are finding ways for alternatives such as barter so they can facilitate business easily between the two nations. This MoU sets the foundation for developing business between Guyana and Cuba too.”
Indar indicated that he believes the MoU will turn out to be successful, as Cuba has expressed great interest in securing medicine, rice and flour from Guyana. He said, too, that a similar MoU was signed with India. Indar stated that India is interested in Guyana’s agriculture and oil and gas sectors.
Considering that the high possibility that a language barrier may emerge, GCCI came up with the idea of creating National Trade Councils. He told the media that the Council will be made up of different stakeholders from the Government and Private Sector. Indar said that the councils represent an institutional mechanism so that the MOUs can be fleshed out effectively and efficiently.

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GCCI to set up Trade Councils to improve relations with India, Cuba

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