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British Chamber of Commerce Guyana launched to boost bilateral trade
Kaieteur News – The British Chamber of Commerce Guyana (BritCham Guyana) has been established to promote and facilitate commercial business opportunities and mutually beneficial relationships between the UK and Guyana, its largest trading partner in the Caribbean. The formal creation of BritCham Guyana was announced on Thursday as a feature of the Guyana Energy Conference and Expo 2023 at the Marriott Hotel.
Alongside the promotion and facilitation of bilateral trade and commerce, BritCham Guyana is expected to foster an open networking environment where companies can engage and discuss issues impacting their businesses and UK-Guyana trade, including events such as member meetings, business breakfasts and seminars.
CEO of GuySons and Chair of BritCham Guyana, Faizal Khan
The independent, non-profit chamber will also serve as a leading promoter and enabler of trade and investment between the UK and Guyana, one of the world’s fastest growing economies. BritCham Guyana said too that it will also work closely with the British High Commission in Georgetown and UK government departments to support their advocacy work in Guyana. The new organisation will be chaired by Guysons Group CEO and UK/Guyanese citizen Faizal Khan, supported by a board of leading business executives with close ties to both countries, with an office at Pegasus Suites and Corporate Centre in Georgetown. Full details of the board will be announced in due course.
Khan said BritCham Guyana aims to become the trusted partner and platform for fostering business between the UK and Guyana, driving foreign direct investment into the Guyanese market, expanding horizons for Guyanese firms, and improving the ease of doing business for its members in both markets. “Guyana and the UK have enjoyed a cordial, strong relationship for more than five decades, and the business community between the two nations is growing quickly as Guyana’s economy booms,” Khan said.
He added, “There are already significant opportunities for companies in both markets, which we only expect to increase in the years to come. We encourage enterprises based in the UK to join BritCham Guyana so that we can help them understand, navigate and tap into Guyana’s rapidly expanding economy. We also call on Guyanese businesses to sign up to explore opportunities in the large, diverse UK market and partnerships with UK companies and investors.”
Khan highlighted that the BritCham Guyana will offer its members increased access to and knowledge of each market, investment opportunities, expert and technical skills, advisory services, a wide range of industry, policy and regulatory insights across sectors, and competitive pricing. “We would like to congratulate BritCham Guyana and we look forward to working with the team,” said Anne-Marie Martin, Director of Membership UK & International at the British Chambers of Commerce.
“BritCham Guyana offers an opportunity to bring together a rich and diverse network of UK investors, exports, and services with strong governance, world-class standards and experience that complement the ambitions of Guyana’s business community through long term and sustainable partnerships,” said Jane Miller, British High Commissioner to Guyana. Guyana is the UK’s largest trade partner in the Caribbean. In 2021, the country accounted for 21.6% of all the UK’s trade with the Caribbean and, to date, there has been a 45.9% increase in trade among the two nations for 2022. The move to establish the new business chamber comes on the heels of the announcement of visa free travel to the UK, a direct British Airways flight from end of March, and the signing of a partnership arrangement by Guyana’s Minister of Foreign Affairs and International Cooperation, Hugh Todd and His Majesty’s Trade Commissioner for Latin America and the Caribbean, Jonathan Knott, CMG in November 2022. The chamber is expected to build on the opportunities that will flow from visa-free travel.
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