The trade relationship between the UK and Guyana has surged to £1.9 billion, reflecting a 17.7% increase and making Guyana the UK’s largest trading partner in the Caribbean, responsible for 33% of the region’s trade.
In a significant move to enhance business ties, His Majesty’s Trade Commissioner for Latin America and the Caribbean Jonathan Knott has been advocating for a partnership that promises mutual benefits. This initiative was highlighted at a cocktail reception hosted at the British High Commissioner’s residence on August 20, 2024.
Knott’s commitment to enhancing trade between the UK and Latin America is evident through his leadership of a 200-strong team that has exceeded its targets and fostered a positive climate for business interactions. Reflecting on recent progress, Knott remarked to Stabroek News: “Returning to Guyana after 18 months, I see that our efforts, initiated with a prior agreement with the Guyanese Government, are beginning to bear fruit. The trade statistics are promising, and we aim to further this momentum. We’re working closely with the Guyanese government to realize its vision across various sectors including infrastructure, health, and education by bringing in experienced British companies.”
Senior Minister within the Office of the President with responsibility for Finance Ashni Singh recently supported this collaborative endeavour, highlighting the mutual benefits of the UK-Guyana relationship. He noted that the UK’s emphasis on quality aligns with Guyana’s expanding economic landscape, laying a solid foundation for increased trade and investment.
The UK’s dedication to fostering long-term, reliable relationships is further illustrated by its engagements with international entities such as the United States Embassy, the Canadian High Commission, and the European Union embassy.
A significant advancement in this partnership is the introduction of visa-free travel to the UK, which has streamlined business interactions and contributed to a remarkable rise in trade. UK exports to Guyana have notably tripled, underscoring the deepening ties between the two countries.
Chief Investment Officer and Agency Head at Guyana Office for Foreign and Local Investments Peter Ramsaroop has played a crucial role in promoting Guyana as a destination for British investment, highlighting the abundant opportunities available and encouraging UK businesses to explore them.
The ongoing initiatives and achievements reflect a promising future for UK-Guyana relations, with both nations poised to reap substantial benefits from their strengthened trade and investment cooperation. This growing partnership emphasises the value of strategic, long-term business engagements.
