Sat, 30 Sep 23 10:03:44 +0000
With the aim of further enhancing trade relations between the two countries, the Trinidad and Tobago Manufacturers’ Association (TTMA) will be hosting a trade mission to Guyana next month.
The trade mission fielded by the TTMA in March 2022 The delegation will be led by the TTMA’s President, Roger Roach, during the four-day visit which will run from October 3 to 7, 2023.
This year, the delegation will consist of 31 companies and 45 participants, including representatives from Eximbank and ExporTT Limited.
The sectors participating consist of food and beverage, chemical, construction, household products, agro-processing, cargo and services.
According to the TTMA, this mission aims to strengthen ties between the two Caribbean Community (Caricom) neighbours and foster new relationships between T&T and Guyanese companies.
“Guyana will continue to be on the trade mission schedule for the TTMA, due to the opportunities presented for mutual trade. TTMA looks forward to a successful event as we continue to strengthen ties between the business communities of both countries,” the Association said.
Guyana remains a significant trading partner for T&T, ranking in the top five export destinations in the Caribbean. Main exports consist of mineral fuels, beverages, food and beverage items, chemical products, and paper-related commodities just to name a few.
This trade mission is the second consecutive physical trade mission to Guyana for the TTMA since COVID-19, with a virtual trade mission being held in 2021 and the first in-person mission last year. The March 2022 mission comprised 23 T&T manufacturers and was hailed a success by both the Association as well as the Trinidadian Government.
During that visit, engagements were held between companies from the two Caribbean nations as well as the TTMA and the Guyana Manufacturing and Services Association (GMSA).
On Friday, Trinidad’s Ministry of Trade and Industry applauded the TTMA on its planned trade mission to Guyana, which it noted will be the Association’s third visit.
“It is therefore encouraging to observe a progressive growth in the interest by local companies, as well as those in Guyana, to actively engage and explore trade partnering opportunities… The Ministry of Trade and Industry extends its best wishes to the TTMA and all participating companies and looks forward to the successes to be derived from this trade mission to Guyana,” the T&T Government agency said.
For the period 2018 – 2022, Trinidad and Tobago have been a net exporter to Guyana, with trade surpluses being recorded over the period. Guyana has consistently been a top market within Caricom for Trinidad and Tobago’s non-energy exports.
In 2021, Guyana was the second-largest destination for Trinidad and Tobago’s total and non-energy exports. Bearing in mind the attractiveness of the Guyanese market, and with Guyana being a fellow Caricom Member State, there is an abundance of opportunities that exist through the import and export of non-energy products between both countries.
The TTMA has already executed several trade missions in 2023 to Grenada, the Dominican Republic, Suriname and St Lucia as part of its mandate to expand exports both regionally and internationally.