The Georgetown Chamber of Commerce and Industry (GCCI) has positioned itself to harness the potential of a remarkable US$50 million in trade between India and the Latin America and Caribbean (LAC) region. This endeavor was showcased during the ninth India-LAC Conclave held in New Delhi, which not only highlighted the growing collaboration opportunities among nations’ private sectors but also shed light on how Guyana and India can forge stronger ties.
Running from August 3 to 5, the event provided a platform for Kester Hutson, President of GCCI, to assert the Chamber’s commitment to catalyzing bilateral economic ventures. Amidst the presence of government and private sector representatives, the spotlight was firmly on the burgeoning business prospects available in Guyana.
Of particular significance was the disclosure made during the meetings — bilateral trade figures had soared to an impressive US$50 billion during the Fiscal Year 2022-2023 between India, Latin America, and the Caribbean. The GCCI noted that this revelation piqued its interest, with Hutson expressing his eagerness to glean more insights on how Guyana could capitalize on this dynamic trade network.
Hutson’s participation in the conclave extended to active engagement, where he fervently advocated for collaborations between Guyana and private sector entities keen on business expansion and partnership development within the country. Key sectors such as agriculture, energy, information technology, pharmaceuticals, and manufacturing were earmarked for potential collaboration, garnering significant interest from potential investors.
The Chamber also noted that the enthusiastic response from investors illuminated the potential benefits of such partnerships for Guyana. Their eagerness, it said, demonstrated a collective belief in the opportunities presented by Guyana’s business landscape.
Hutson was keen to note the significance of such events for the local private sector and that the practical experience gained through these engagements not only solidifies international business capabilities but also widens horizons for the country’s economic growth.
As the GCCI lays the groundwork for further collaboration, its participation in the ninth India-LAC Conclave is just part of its approach in leveraging the US$50 million trade avenue.