‘Extraordinary’ China/ Guyana trade goes up to US$1.4 billion in 2024

Trade between Guyana and China continues to climb steadily, reaching a whopping US$1.4 billion (or about G$292 billion) at the end of 2024, the Chargé d’Affaires of the Chinese Embassy in Guyana, Huang Rui announced Friday night.

Huang spoke Association of Chinese Enterprises in Guyana’s Annual Dinner commemorating the Chinese New Year. The event was held at the Royal International Hotel, Georgetown.

He also highlighted that the sum represents a 14.4% increase in trade, compared to 2023. So he posited that 2024 was an “extraordinary year” for the two sided.

Trade between China and Guyana has been steadily increasing. At the end of 2023, bilateral trade was pegged at US$1.23 billion. Several large projects, including the new Demerara Harbour Crossing and the Mackenzie/ Wismar Bridge, are being undertaken by Chinese firms.

And the Chargé d’Affaires also praised China/ Guyana relations, emphasising that the two sides have significantly supported each other. On the trade front, he said, Chinese enterprises contributed significantly to Guyana.

“Chinese enterprises have made great contributions to the biggest economic and social transformation of Guyana while abiding by the local content law, creating new job opportunities, and shouldering their social responsibilities,” Huang told a room filled with local and foreign investors.

Meanwhile, Finance Minister Dr. Ashni Singh told potential investors on Friday night that they would be supported.

“As long as you come to Guyana and you respect the laws of Guyana, you generate values, and particularly jobs and business opportunities including through partnership and local content… You are welcome to do business in Guyana and we will protect your rights in Guyana,” Dr. Singh said.

He also hailed the contributions of the Chinese people to Guyana’s vibrant culture and economy. He posited that China’s relationship with Guyana, which spans over half a century, has evolved too.