President Ali invites Canadian businesses to explore ‘untapped’ industries

Canada’s “generous and enduring” contributions to Guyana’s development in healthcare, education, governance, and support for indigenous communities were welcomed by President Dr. Mohamed Irfaan Ali at the 158th anniversary celebrations of the Canadian Confederation.

In his address, President Ali urged Canadian businesses to explore further investment opportunities, highlighting the extension of the Caribbean-Canada Trade Agreement (CARIBCAN), which remains in effect until 31 December 2033.

He noted that the agreement will provide greater predictability and strengthen trade relations between the two countries. The President also described the recently signed Memorandum of Understanding between Guyana’s Ministry of Finance and the Canadian Commercial Corporation (CCC) as a ‘positive step’ forward.

In other areas of trade, President Ali recognised Canada’s continued investment in mining and even welcomed the nation’s growing interest in Guyana’s oil and gas. However, he urged the Canadian private sector to focus as well on other areas.

“Beyond these traditional sectors, we believe that there is significant untapped potential…We invite Canadian businesses to explore opportunities in agriculture, infrastructure, public housing, eco-tourism, and especially in climate-smart agriculture, a field where innovation is aligned beautifully with sustainability,” the head of state noted.

In spite of persistent global challenges like economic instability, political tensions, and declining multilateral cooperation, President Ali affirmed Guyana’s commitment to maintaining peace in the Caribbean and the wider Western Hemisphere.

He also stated that through stronger bilateral and multilateral cooperation, nations can collectively tackle shared challenges such as climate change, inequality, and security threats.

“Let us continue to build a partnership that is not only strong but enduring, inclusive, and sustainable,” the head of state declared.

 Bilateral Ties and Diaspora Connections

The President also noted that Guyana and Canada enjoy a strong bilateral relationship anchored in shared values and mutual respect. This bond has extended across multiple sectors and is bolstered by the vibrant Guyanese diaspora community in Canada.

“These men and women and their children and their grandchildren are living bridges between our nations. They enrich Canadian society…maintain deep ties to their homeland [and] through them, the people-to -people connection between our countries continues to thrive,” the president said.

In addition to its contributions to development, particularly in maternal and child health, mental health, and services for Indigenous communities, Canada is also playing a key role in supporting Guyana’s efforts to reform its education, criminal justice, and governance systems.

“We have indigenous development policies and programmes that we should be proud of in Guyana…they are beyond anything in the national community…And Canada, of course, is a great part in building out the strength of our governance mechanism, especially for the indigenous community,” President Ali stated.

Meanwhile, Canada’s High Commissioner to Guyana, Sébastien Sigouin, pointed to several initiatives between the two nations, including Air Transatlantic, which will begin direct flights between Georgetown and Toronto in December.

“This will make it a lot easier to travel, to do business, and to stay connected,” he said. “It’s also a Canadian company that is committed to this country.”

He confirmed the signing of an MoU with Guyana’s Ministry of Finance, which he said will boost commercial activity and collaboration. The diplomat also highlighted the Oko West Gold Project by Canadian firm G-Mining Ventures, which is now employing 1,500 Guyanese workers.

In the area of social development, Canada is supporting Guyana with a loan of over CA$120 million (G$18 billion) through the Inter-American Development Bank to improve social services. An additional CA$15 million (G$2 billion) is being invested with partners like UNICEF and UNFPA to advance early childhood development, protect vulnerable girls, and provide skills training for indigenous youth.

The High Commissioner noted that Canada remains committed to working alongside both Guyana and Suriname as they navigate future development and challenges, adding, “Canada will be here as a partner and as a friend.”

The celebrations, held on Tuesday evening at the Official Residence of the High Commissioner, saw the attendance of Prime Minister Brigadier (Ret’d) Mark Phillips; Minister of Foreign Affairs and International Cooperation, Hugh Todd; members of the diplomatic corps, and other dignitaries from the private sector and indigenous communities.