GO-Invest expands export promotion – Ramsaroop  

Oct 14, 2024 News

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Kaieteur News – Guyana Office for Investment is playing a vital role in promoting the export of locally manufactured Guyanese products.

The agency has recently expanded its services, notably establishing a “Technical Trade Department and Expanded Promotion Division” to help local producers increase their product visibility and access new export markets. A key part of this initiative is the sponsorship of the “Made in Guyana” certification to small businesses, aimed at raising the quality and international appeal of Guyanese products.

In a press release the agency said this proactive strategy stems from insights gathered at local and international trade expositions, where the “Brand Guyana” imitative received overwhelmingly positive feedback. Dr. Ramsaroop, Guyana’s Chief Investment Officer and Agency Head of the Guyana Office for Investment, stated that the expanded department will focus on market intelligence and research, aligning with the agency’s goal of becoming data-driven and research-oriented while the promotion arm markets our local products internationally.

According to GO-Invest this initiative collaborates with the New Guyana Marketing Corporation, Bureau of Standards, GMSA, Caribbean Export and other organisations. Furthermore, the agency is working with the University of the West Indies (Cave Hill) and the Caribbean Export team to enhance its data management analytics, and research capabilities. The Caribbean Export Agency is also collaborating with the Agency to support trade facilitation, investment packaging, and exporter development programmes.

Over the past four years, the agency has successfully helped around 137 local companies enter export markets and connected 112 businesses with overseas buyers. A notable success was the
recent export of Savannah Milk, produced by Demerara Distillers Limited (DDL), to Barbados during a milk shortage, which was well-received by consumers.

This highlights the importance of regional economic cooperation. “We are proud to be part of this partnership, which demonstrates the value of regional collaboration to support each other’s economies,” Dr. Ramsaroop said, emphasising the strengthening of ties between Guyana and Barbados through export partnerships.

The agency has also been working closely with logistics providers such as Suriname Airways and Tropical Shipping to secure affordable freight rates, helping local products remain competitive in regional and international markets. Companies like Comfort Sleep, SS Natural
Flavours, and Only Coconuts have successfully entered Caribbean markets through these efforts.

In addition to export facilitation, the agency has supported small and medium-sized enterprises (SMEs) with labeling, packaging guidance, export readiness training, and trade facilitation. Many of these businesses have participated in overseas exhibitions led by the Agency, such as Agro-Fest in Barbados, SIAL in Canada, the China International Import Expo, and LAC Flavours in Brazil and Panama, receiving positive reviews and even selling out their products.
Domestically, the Agency has been active in regional investment conferences and trade expos, including the Rupununi, Essequibo, and Berbice Expos.

At the Essequibo Expo, the agency sponsored five producers from Region Two to obtain the “Made in Guyana” certification, a notable achievement that enhances their global marketability. A similar initiative is planned for the Berbice Expo, where five more producers will receive certification support. The Agency work aligns with Guyana’s broader economic vision, supporting diverse sectors
such as energy and manufacturing, all bolstered by a favorable investment climate and strong government policies. Guyana’s economic growth has been remarkable, with export earnings exceeding US$10 billion in the first half of 2024. This continues a trend of rising export revenues, which surged from US$4 billion in 2021 to US$13 billion in 2023. By the end of the year, the manufacturing sector, including agro-processing, is expected to grow by 14.5%, cementing Guyana’s position as a regional economic leader. The resilience of the country’s non-oil exports, particularly in agriculture—which accounted for 21% of non-oil exports in the first half of 2024, up from 19% in 2023—further underscores this
progress.

Manufacturing, driven by gains in “other manufacturing” and rice production, is estimated to have grown by 27.5% during this period. Dr. Ramsaroop noted that these figures highlight Guyana’s ability to maintain its traditional sectors while modernising our diversified economy, positioning the nation as a regional
powerhouse.

(GO-Invest expands export promotion – Ramsaroop)  

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• Brazil, Essequibo, Furthermore, programmes, Rupununi

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