GuyTIE to become signature Caribbean trade fair – Min. Gaskin

─ long-term vision is to link international exhibitors with international buyers

─ govt aims to create a forum for international trade

─ 56 investors, 100 buyers and potential investors participating in this year’s GuyTIE

─ PSC applauds govt for creating enabling business environment

DPI, Guyana, Thursday, September 20, 2018

Minister of Business, Dominic Gaskin says the Guyana Trade and Investment Exhibition (GuyTIE) is expected to become the signature Caribbean trade fair.

Speaking today at the official opening of the inaugural event, Minister Gaskin said while the focus this year is on linking Guyanese producers and service providers with international buyers, long-term vision is to link international exhibitors with international buyers.

The government also aims to create a forum for international trade in Guyana, the minister stated.

Addressing local businesspersons, Minister Gaskin said:

“This is your event and our government will work with you to make it something we can all be proud of.”

GuyTIE, the minister clarified, is not about ticket sales or numbers, “it is not and was never intended to be a consumer event and it is not and was never intended to be an entertainment event… It is strictly a business to business event.”

The event is expected to contribute to two of the four key objectives of the Business Ministry’s Strategic Five-year Plan. These include to increase value-added production and exports and to increase sustainable private sector investment.

It is also aligned with one of the ministry’s major projects, the National Quality Infrastructure Project designed to improve Guyana’s ability to test and certify its exports and to develop a National Export and Investment Strategy, the minister informed.

“It is, therefore, our expectation that GuyTIE will contribute measurably to increased export earnings in the long-term and that participating businesses will benefit in the short-term by interacting with international buyers and through opportunities for knowledge sharing,” he explained.

A critical component of the exhibition is the hosting of several seminars aimed at business development and capacity building.

Fifty-six investors and 100 buyers and potential investors are participating in this year’s GuyTIE. Minister Gaskin expressed satisfaction with this participation and reminded that the event is for the private sector facilitated by the government.

The government, he noted, recognises the role of the private sector in sustaining economic growth, creating and sustaining employment and generating tax revenues, which allows the government to better serve the people.

Now, more than ever, with the emergence of the petroleum sector, the minister said a vibrant private sector is needed.

The Business Minister also lauded the participation of the private sector as phenomenal. The Private Sector Commission (PSC), the Guyana Manufacturing and Services Association (GMSA) and the Georgetown Chamber of Commerce and Industry (GCCI), he noted, actively participated on the steering committee to ensure the realisation of GuyTIE.

Chairman of the PSC, Desmond Sears said the GuyTIE is timely especially for investors working to pursue export markets and applauded the government, particularly the Ministry of Business, for its strides in creating an enabling business environment.

Further, Sears believes that the advancing of the oil and gas sector will fast-track the industrialization process, where the country’s natural resources can be sustainably used to create value.

“As we look into the future combined with our government’s intention it is only a matter of time before natural gas is brought ashore to power industries and revenues from oil is channelled for infrastructure and other demands,” he added. 

Stacy Carmichael.

Images: Jameel Mohamed.

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