Accelerated moves towards a thaw in relations between Havana and Washington (though we must wait and see how the relationship unfolds under the Donald Trump administration) have triggered consequential developments here in the Caribbean where a number of Caricom countries are beginning to take a closer look at the economic opportunities that might be on offer in a liberalized Cuban economy.
In the instance of the Caricom states, diplomatic ties had been established with Havana, in many instances as far back as the 1970s so that further cementing relations on the economic front have not been as difficult as it otherwise would have been.
Guyana has not been as quick off the mark as one might have expected bearing in mind the fact that it was Forbes Burnham and Fidel Castro who essentially ‘engineered’ Cuba’s acceptance within Caricom. It has to be said, though, that Cubans travelling in the region and looking for economic opportunities have already found their way to Guyana and are buying up a range of goods to return to Cuba to strengthen their fledgling small business entities.
A story published in this newspaper and based on an interview with Roraima CEO Gerry Gouveia made some interesting disclosures, not least of which is the fact that every day Cubans arrive here from Havana and that their numbers, according to Gouveia, may amount to as many as 3,000 each month. The Roraima boss was one of those Caribbean businessmen who was quick to ‘hot foot’ it to Havana to ensure that his arrangement with the Honduran airline Easy Sky to ply the route between Havana and Georgetown secured traction with the fortune-seeking Cubans.
Students of Guyana-Cuba relations might well be inclined to see these developments representing a full circle for bilateral relations between the two countries, though, these days, the visiting Cubans are more likely to be seen in the context of the mutual economic benefits accruing to the two countries. For the Cubans, being able to engage the traders in Georgetown to make deals for the bulk purchase of goods most of which were imported into Guyana in the first place, points in the direction of an incremental growth of the trading sector in a country where the state has long led the way as far as commercial activity is concerned.
For Guyana, the Cuban purchases which Gouveia estimates could amount to as much as $150 million a year open up further opportunities for a commercial sector that has been finding the going tough in a sluggish economic environment.
It is worth mentioning that the Government of Guyana appears to recognize the value of being part of the Caricom throng, which, these days, is paying closer attention to Cuba. Gouveia was not the only Guyanese with business interests who showed up in Havana recently. Business Minister Dominic Gaskin was there too and as the Stabroek Business has learnt the Government of Guyana will be playing a role in the creation of the Guyana/Cuba Business Development Council, a body which, according to Gouveia, will be driven by the Private Sector Commission of Guyana and the Havana Chamber of Commerce. Stabroek Business understands that the creation of the Council will be attended by a meeting in Havana at which the two sides, both government and private sector, will discussed methodologies for doing business in the respective countries.
All of this is happening, of course, when other Caricom countries – some of which may well have more to offer than Guyana at this time – are evincing an interest in Cuba and its prospects. Earlier this week Gabriel Faria, the CEO of the Trinidad and Tobago Chamber of Commerce told a Cuba-related business forum in Port of Spain, “The Cuban market has great potential for Trinidad and Tobago companies.” Faria added, “With a population in the vicinity of eleven million strong, business opportunities are rife for the astute manufacturer and service provider.” Trinidad and Tobago, through its petrochemicals is already the region’s biggest exporter to Cuba.
There is really no good reason why other local businesses should not seek to follow Roraima Airways into Cuba. Trinidad and Tobago, it appears, has already been studying the Cuban market, and, according to Faria, has already made a determination regarding some of the more attractive areas for foreign investment in Cuba.
Cuba, in a sense, is a challenge for Guyana. It is a matter of determining how well or perhaps even whether at all, we can arise to the challenge that has been thrown up by the changes that are occurring in Cuba. The situation challenges us to accelerate the capacity of both our agriculture/ agroprocessing and manufacturing services, among others. It is an even bigger challenge for the daring and ingenuity of the private sector.
