Talks begin on possible UK-Guyana Chamber of Commerce

A trade mission from the United Kingdom (UK) is expected in Guyana in January as efforts are being made to increase relations between Guyana and Britain.

British High Commissioner to Guyana, Greg Quinn at a press conference on Friday also disclosed that the business community can possibly see a UK-Guyana Chamber of Commerce coming onstream.

“We’re looking at the possibility of increasing links between here and the UK, particularly Aberdeen, Scotland –the center of the oil industry in the UK across business, cultural and development,” the High Commissioner told reporters.

He said that Aberdeen is a testimony to what can be achieved if oil revenues are managed prudently, as it was “typically a backwater time,” in the 1970s.

He noted that the expertise built in the city over the years would be helpful to Guyana.

Recently, the American Chamber of Commerce launched its Guyana chapter to promote trade between the two countries. There has also been an influx of US-based businesses to Guyana since the 2015 discovery of oil offshore Guyana.

The Diplomat said he has seen an increase in UK businesses working here over the past three years.

“There is a recognition on both sides that there needs to be a bit more done to build those business to business contacts, hence the plan to bring over a delegation.”

The High Commissioner said there are various areas in which the local business community can benefit from the UK. He pointed out not only the UK’s experience in the oil and gas industry but also in the services sector.

“I think our services industry is the biggest contributor to the UK economy, we are no longer the manufacturing economy we once were….So there is lots of the insurance, the marketing capitalization and the raise in funds –I think experience that we can pass on,” he noted.

He also alluded to the retail industry and the education sector.

The UK already contributes significantly to the education sector with the provision of scholarships and other assistance.

Additionally, a Trade Mission from Aberdeen is expected in Guyana in January. During that visit, further talks are expected on the Chamber of Commerce.